Balance Sheet: Assets
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.
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Biogen Inc., consolidated balance sheet: assets
US$ in thousands
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).
The financial data for the period ending December 31 from 2017 through 2021 reveals several notable trends and variations across asset categories.
- Cash and cash equivalents
- The cash position experienced volatility over the five-year span. It declined from 1,573,800 thousand USD in 2017 to 1,224,600 thousand USD in 2018, then sharply increased to 2,913,700 thousand USD by 2019. In 2020, cash dropped again to 1,331,200 thousand USD before rising to 2,261,400 thousand USD in 2021, indicating fluctuations in liquidity management.
- Marketable securities (current)
- Marketable securities classified as current assets showed a downward trend overall. Starting at 2,115,200 thousand USD in 2017, the balance climbed slightly in 2018 but then decreased significantly to 1,562,200 thousand USD in 2019, further dropping to 1,278,900 thousand USD in 2020, and modestly recovering to 1,541,100 thousand USD in 2021.
- Accounts receivable, net
- Accounts receivable fluctuated mildly, increasing from 1,787,000 thousand USD in 2017 to 1,958,500 thousand USD in 2018 but then trending downward to 1,549,400 thousand USD by 2021, with a peak of 1,913,800 thousand USD in 2020. This suggests that receivables management may have tightened or sales on credit decreased toward the latter years.
- Due from anti-CD20 therapeutic programs
- This category remained relatively stable, with minor fluctuations around the 400,000 to 590,000 thousand USD range, peaking in 2019 and then declining slightly thereafter.
- Inventory
- Inventory levels showed a general increase reaching 1,351,500 thousand USD in 2021, up from 902,700 thousand USD in 2017. There was a dip in 2019 but an overall rising trend indicative of buildup in stock or raw materials.
- Other current assets
- Other current assets declined sharply from 962,000 thousand USD in 2017 to 687,600 thousand USD in 2018 and further decreased to 631,000 thousand USD in 2019. There was a rebound to 881,100 thousand USD in 2020, followed by a reduction to 740,800 thousand USD in 2021, reflecting variability in miscellaneous short-term assets.
- Current assets (total)
- Total current assets remained relatively stable but with some decline in 2020 before recovering in 2021. The balance stood at 7,873,300 thousand USD in 2017, slightly decreasing to 7,640,900 thousand USD in 2018, rising to 8,381,800 thousand USD in 2019, then dropping to 6,887,100 thousand USD in 2020 and recovering to 7,856,500 thousand USD in 2021.
- Marketable securities (long-term)
- Long-term marketable securities showed a steep reduction from 3,057,300 thousand USD in 2017 down to 892,000 thousand USD in 2021, with the largest decline occurring between 2017 and 2018. This indicates a significant reallocation or disposal of long-term investments.
- Property, plant and equipment, net
- Net property, plant and equipment values increased from 3,182,400 thousand USD in 2017 to a peak of 3,601,200 thousand USD in 2018 before decreasing slightly and then stabilizing around 3,416,400 thousand USD by 2021, suggesting modest capital investments with some disposals or depreciation effects.
- Operating lease assets
- Operating lease assets appear starting in 2020, reflecting the adoption or recognition of such assets with balances of 427,000 and 433,300 thousand USD in 2020 and 2021 respectively, slightly declining to 375,400 thousand USD in 2021, indicating the impact of lease accounting standards.
- Intangible assets, net
- The value of net intangible assets declined steadily from 3,879,600 thousand USD in 2017 to 2,221,300 thousand USD in 2021, showing impairment or amortization effects impacting the organization's intangible asset base over time.
- Goodwill
- Goodwill increased significantly from 4,632,500 thousand USD in 2017 to 5,706,400 thousand USD in 2018, then remained relatively stable around 5,761,100 thousand USD through 2021, indicating acquisition activity prior to 2018 with little change afterwards.
- Deferred tax asset
- Deferred tax assets experienced notable variability, rising sharply from 595,900 thousand USD in 2017 to 3,232,100 thousand USD in 2019, before declining to 1,415,100 thousand USD in 2021, suggesting changes in tax positions or valuation allowances.
- Investments and other assets
- Investments and other assets showed irregular trends, increasing markedly to 2,899,000 thousand USD in 2020 from lower values in previous years, then declining to 1,939,500 thousand USD in 2021, highlighting occasional variations in long-term investments or miscellaneous assets.
- Long-term assets (total)
- Total long-term assets peaked at 18,852,500 thousand USD in 2019 following a steady rise from 15,779,300 thousand USD in 2017. However, the figure declined to 16,020,800 thousand USD by 2021, reflecting asset disposals, impairments, or amortization effects reducing the long-term asset base.
- Total assets
- Total assets demonstrated moderate growth from 23,652,600 thousand USD in 2017 to a peak of 27,234,300 thousand USD in 2019, followed by a contraction to 23,877,300 thousand USD in 2021, signaling a downsizing or asset optimization phase after previous expansion.