Analysis of Inventory
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Inventory Disclosure
Biogen Inc., balance sheet: inventory
US$ in thousands
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished goods | |||||||||||
| Inventory |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Raw materials
- There was a general upward trend in the value of raw materials over the period analyzed. Starting at 162,400 thousand USD at the end of 2017, the value increased steadily to reach 349,600 thousand USD by the end of 2021. Notably, there was a particularly significant jump between 2019 and 2020 where the value nearly doubled from 169,700 to 314,900 thousand USD, followed by a more moderate increase the following year.
- Work in process
- The work in process inventory showed a somewhat more volatile pattern. Initially, the value remained quite stable between 2017 and 2018, with a slight increase of 1,000 thousand USD. However, in 2019, there was a marked decrease to 460,000 thousand USD from 606,700 thousand USD in 2018. This was followed by a recovery in 2020 to 544,500 thousand USD, and then a strong increase to 814,000 thousand USD in 2021, reaching the highest level in the period under consideration.
- Finished goods
- The inventory of finished goods fluctuated more modestly compared to raw materials and work in process. Starting from 157,400 thousand USD in 2017, the value decreased to its lowest point at 133,500 thousand USD in 2018. Subsequently, a recovery phase occurred with increases through 2019 and 2020, peaking at 209,200 thousand USD in 2020, before declining slightly to 187,900 thousand USD in 2021.
- Inventory (total)
- Total inventory values reflected the combined effects of the components. The value was relatively stable between 2017 and 2018, increasing slightly from 925,500 thousand USD to 936,500 thousand USD. In 2019, a more notable reduction to 804,200 thousand USD was recorded. Following this trough, total inventory rebounded significantly, reaching 1,068,600 thousand USD in 2020 and expanding further to 1,351,500 thousand USD in 2021. This pattern suggests an overall growth in inventory assets after a period of reduction, likely driven by increases in raw materials and work in process inventories.