Stock Analysis on Net
Stock Analysis on Net

Biogen Inc. (NASDAQ:BIIB)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 25, 2022.

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Biogen Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Current portion of notes payable
Taxes payable
Accounts payable
Revenue-related reserves for discounts and allowances
Collaboration expenses
Employee compensation and benefits
Royalties and licensing fees
Derivative liabilities
Current portion of contingent consideration obligations
Other
Accrued expense and other
Current liabilities
Notes payable, excluding current portion
Deferred tax liability
Long-term operating lease liabilities
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, par value $0.001 per share
Common stock, par value $0.0005 per share
Additional paid-in capital
Accumulated other comprehensive loss
Retained earnings
Treasury stock, at cost
Total Biogen Inc. shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

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 analysis of the financial data over the five-year period reveals several key trends and fluctuations in the liabilities and equity components.

Current Liabilities
The current portion of notes payable shows significant fluctuation, with a large increase in 2019 and a notable amount again in 2021, while absent in other years. Taxes payable have steadily increased from 68,200 thousand USD in 2017 to 174,700 thousand USD in 2021. Accounts payable exhibits volatility, rising sharply in 2019, dipping in 2020, and increasing again by 2021. Revenue-related reserves for discounts and allowances grew considerably from 572,000 thousand USD in 2017 to a high of over 1,080,600 thousand USD in 2020 before declining to 802,100 thousand USD in 2021.
Expenses and Compensation
Collaboration expenses increased steadily from 183,700 thousand USD in 2017 to a peak in 2020 at 389,900 thousand USD, followed by a decrease in 2021. Employee compensation and benefits have shown a gradual increase over the years, reaching 345,100 thousand USD in 2021. Royalties and licensing fees remained relatively stable with minor fluctuations throughout the period.
Liabilities Components
Derivative liabilities appear only from 2019 onwards, peaking significantly in 2020 at 181,500 thousand USD before falling sharply in 2021. The current portion of contingent consideration obligations decreased notably from 844,600 thousand USD in 2017 to no recorded value in 2021. "Other" current liabilities have maintained a fairly consistent level around the 790,000 to 820,000 thousand USD range. Accrued expenses and other current liabilities show an overall downward trend after peaking in 2020.
Long-Term Liabilities
Notes payable excluding the current portion decreased substantially in 2019 compared to prior years, then surged in 2020 to 7,426,200 thousand USD, before reducing again in 2021. Deferred tax liability exhibited an extraordinary spike in 2018 and 2019, reaching nearly 2,810,800 thousand USD, before dropping significantly in the following years. Long-term operating lease liabilities emerged in 2019 and have gradually declined since. Other long-term liabilities have seen a slight decrease over the period but remain fairly stable.
Total Liabilities and Equity
Total liabilities increased steadily from 11,054,500 thousand USD in 2017 to a peak at nearly 13,933,000 thousand USD in 2020, then declined somewhat in 2021. Total shareholders' equity rose marginally through 2019, then sharply declined in 2020, and showed a slight recovery in 2021. Retained earnings increased from 2017 through 2019 but dropped significantly in 2020 and have remained relatively stable since. The accumulated other comprehensive loss fluctuated, showing improvement in 2019, deterioration in 2020, and partial recovery in 2021. Treasury stock remained constant at a negative 2,977,100 thousand USD throughout the period.
Noncontrolling Interests
Noncontrolling interests were negative and slightly reduced between 2017 and 2019, spiked down in 2020, then became positive in 2021, indicating a change in ownership interests or accounting classifications.

Overall, the company exhibits variability in both current and long-term liabilities, with notable changes in notes payable and tax liability. Equity components reflect considerable volatility, particularly in retained earnings and comprehensive loss, which impacted total equity markedly in 2020. The data suggest financial restructuring activities, shifts in liability management, and fluctuations in profitability or comprehensive income over the reviewed periods.