Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Align Technology Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Cash and cash equivalents	1,239,013)	951,956)	832,383)	942,050)	1,044,523)	877,501)	926,119)	1,099,370)	1,237,822)	1,086,357)	1,131,698)	960,843)	615,532)	404,359)	790,696)	550,425)	490,362)	423,500)	588,001)	636,899)	420,860)	547,993)	498,003)
Marketable securities, short-term	44,792)	55,805)	51,644)	57,534)	46,242)	22,138)	86,749)	71,972)	—)	—)	—)	—)	—)	—)	—)	318,202)	292,011)	297,422)	144,540)	98,460)	184,297)	164,629)	164,740)
Equity method investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	41,969)	—)	—)	—)	—)
Accounts receivable, net of allowance for doubtful accounts	904,178)	908,395)	884,430)	859,685)	859,629)	931,854)	950,892)	897,198)	855,037)	808,079)	718,957)	657,704)	626,046)	473,314)	533,004)	550,291)	531,816)	520,094)	479,281)	439,009)	420,276)	374,371)	361,459)
Inventories	296,189)	312,736)	311,885)	338,752)	320,903)	310,046)	275,669)	230,230)	207,116)	178,751)	150,643)	139,237)	123,093)	131,276)	120,977)	112,051)	94,795)	81,124)	68,489)	55,641)	48,858)	47,252)	35,866)
Prepaid expenses and other current assets	217,632)	236,564)	251,540)	226,370)	229,283)	235,265)	241,339)	195,305)	155,332)	158,638)	114,257)	91,754)	108,576)	140,295)	131,848)	102,450)	96,595)	135,234)	116,833)	72,470)	149,891)	126,754)	108,708)
Current assets	2,701,804)	2,465,456)	2,331,882)	2,424,391)	2,500,580)	2,376,804)	2,480,768)	2,494,075)	2,455,307)	2,231,825)	2,115,555)	1,849,538)	1,473,247)	1,149,244)	1,576,525)	1,633,419)	1,505,579)	1,457,374)	1,439,113)	1,302,479)	1,224,182)	1,260,999)	1,168,776)
Marketable securities, long-term	18,137)	26,023)	37,379)	41,978)	50,256)	77,551)	107,695)	125,320)	—)	—)	—)	—)	—)	—)	—)	—)	—)	44,969)	—)	9,112)	8,091)	8,061)	10,212)
Property, plant and equipment, net	1,268,388)	1,279,042)	1,262,815)	1,231,855)	1,199,880)	1,182,444)	1,140,922)	1,081,926)	1,002,769)	960,852)	763,870)	734,721)	703,657)	668,951)	663,491)	631,730)	606,581)	599,611)	575,267)	521,329)	491,630)	447,933)	400,528)
Operating lease right-of-use assets, net	118,966)	125,881)	117,889)	118,880)	116,031)	117,912)	125,252)	121,257)	92,727)	93,425)	82,435)	82,553)	83,386)	68,578)	70,366)	56,244)	53,923)	57,269)	56,384)	—)	—)	—)	—)
Equity method investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	45,913)	47,996)	49,128)	52,829)
Goodwill	404,295)	414,765)	414,222)	407,551)	377,616)	390,100)	411,965)	418,547)	426,594)	432,179)	427,561)	444,817)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Intangible assets, net	82,741)	89,296)	93,320)	95,720)	91,711)	93,817)	103,499)	109,709)	115,794)	117,721)	120,479)	130,072)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill and intangible assets, net (legacy)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	555,946)	543,211)	73,751)	75,692)	77,012)	78,852)	80,329)	81,949)	83,607)	85,307)	87,629)
Deferred tax assets	1,591,791)	1,605,926)	1,589,640)	1,571,746)	1,524,584)	1,518,648)	1,515,620)	1,533,767)	1,502,250)	1,512,285)	1,521,922)	1,552,831)	1,566,227)	1,568,293)	1,551,141)	64,007)	63,150)	59,050)	57,151)	64,689)	47,435)	45,859)	45,524)
Other assets	132,429)	138,161)	54,301)	55,826)	52,144)	52,843)	57,693)	57,509)	54,668)	47,281)	37,960)	35,151)	32,628)	27,580)	29,566)	39,610)	44,135)	48,892)	26,186)	26,987)	25,464)	19,302)	17,233)
Noncurrent assets	3,616,747)	3,679,094)	3,569,566)	3,523,556)	3,412,222)	3,433,315)	3,462,646)	3,448,035)	3,194,802)	3,163,743)	2,954,227)	2,980,145)	2,941,844)	2,876,613)	2,388,315)	867,283)	844,801)	888,643)	795,317)	749,979)	704,223)	655,590)	613,955)
Total assets	6,318,551)	6,144,550)	5,901,448)	5,947,947)	5,912,802)	5,810,119)	5,943,414)	5,942,110)	5,650,109)	5,395,568)	5,069,782)	4,829,683)	4,415,091)	4,025,857)	3,964,840)	2,500,702)	2,350,380)	2,346,017)	2,234,430)	2,052,458)	1,928,405)	1,916,589)	1,782,731)

Cash and Cash Equivalents: There is notable fluctuation in cash and cash equivalents over the periods analyzed. After peaking at approximately $1.14 billion by March 31, 2021, a decline is observed leading into early 2023, with values dipping to around $832 million in March 2023 before recovering to about $1.24 billion by September 30, 2023.
Marketable Securities, Short-term: Short-term marketable securities display a volatile pattern, with initial amounts over $160 million followed by gaps in data. In the later periods starting 2022, the balances remain relatively modest, fluctuating between approximately $14 million and $58 million without a clear upward or downward trend.
Equity Method Investments: Equity method investments are sporadically reported, with certain periods showing amounts around $42 million to $53 million, but no consistent trend is discernible due to missing data in many periods.
Accounts Receivable, Net: Accounts receivable have generally trended upward throughout the examined timeframe, rising from approximately $361 million in early 2018 to over $900 million by the end of the period in 2023. Some minor fluctuations occur but the overall trend indicates growth in receivables.
Inventories: Inventories display a steady upward trend from roughly $36 million in early 2018 to a peak above $338 million in late 2022. A slight decrease is noted near the latest data point in 2023, but inventory levels remain significantly higher than earlier periods.
Prepaid Expenses and Other Current Assets: This category shows variability with an overall upward tendency, moving from approximately $109 million in early 2018 to a peak exceeding $251 million mid-2023, followed by a slight decrease toward $218 million by September 2023.
Current Assets: Current assets increased from about $1.17 billion in early 2018, culminating in a peak above $2.45 billion by late 2021. A modest decline occurs afterward, but current assets remain in excess of $2.4 billion through the most recent quarter.
Marketable Securities, Long-term: Long-term marketable securities data is missing for several quarters, but when reported, values have notably decreased from a high over $125 million in 2022 to approximately $18 million by September 2023, indicating a possible liquidation or reclassification of long-term securities.
Property, Plant and Equipment, Net: Property, plant, and equipment steadily increased from about $400 million in early 2018 to a peak near $1.27 billion in late 2022, followed by a marginal decline by September 2023, reflecting ongoing investment with slight recent reductions or depreciation effects.
Operating Lease Right-of-Use Assets, Net: Beginning disclosures in 2019 show a generally rising trend in right-of-use assets associated with operating leases, growing from about $56 million to a high around $126 million in 2022, before a slight decline in 2023.
Goodwill and Intangible Assets, Net: Goodwill exhibits a downward trend from approximately $444 million in 2020 to around $404 million by 2023. Intangible assets decline similarly from approximately $130 million to $83 million within the same timeframe, indicating amortization or impairment impacts. Legacy goodwill and intangibles previously reported have been aggregated into current figures.
Deferred Tax Assets: Deferred tax assets showed a sharp increase between 2018 and 2019, rising from approximately $57 million to over $1.5 billion in subsequent years. Since then, the balance remains relatively stable, fluctuating slightly around $1.5 billion to $1.6 billion through 2023.
Other Assets: Other assets remain generally stable in the initial years but spike considerably in mid-2023 to over $130 million from typical values below $60 million, which may reflect new asset recognition or reclassification.
Noncurrent Assets: The overall noncurrent assets figure shows a dramatic increase starting in 2019, from under $900 million to over $3.6 billion by 2023. This surge is primarily attributed to increased deferred tax assets, substantial growth in property, plant, and equipment, and added lease right-of-use assets.
Total Assets: Total assets mirrored the rise in noncurrent and current assets, increasing from about $1.78 billion in early 2018 to over $6.3 billion by September 2023. The increase is continuous and marked, with a relatively minor plateau in the 2022 to early 2023 period before resuming growth.

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Align Technology Inc. (NASDAQ:ALGN)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data