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Stock Analysis on Net

Biogen Inc. (NASDAQ:BIIB)

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
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.

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.

Biogen Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

Microsoft Excel
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 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Current portion of notes payable — 999,800 999,500 999,100 998,800 — — — — — 1,501,800 1,495,800 1,495,300 — — — — — 3,300 3,200 573,200 559,900 561,500
Taxes payable 237,300 284,900 317,300 174,700 234,200 230,900 143,100 142,000 119,400 576,700 310,000 71,400 125,600 427,200 238,500 63,500 254,100 223,000 231,900 68,200 121,300 52,600 70,000
Accounts payable 383,200 434,800 398,700 589,200 427,900 375,300 430,400 454,900 398,400 383,900 389,000 530,800 382,200 377,100 378,000 370,500 342,300 295,700 345,800 395,500 298,700 330,300 316,400
Liabilities held for sale — — — — — — — — — — — — — 88,600 97,200 — — — — — — — —
Accrued expense and other 3,305,900 3,298,500 2,231,100 2,535,200 2,550,700 2,741,000 2,592,300 3,145,300 3,286,200 2,486,500 2,437,800 2,765,800 2,429,100 2,318,000 2,435,000 2,861,200 2,578,500 2,633,700 2,571,100 2,901,300 2,455,200 2,436,900 2,044,600
Current liabilities 3,926,400 5,018,000 3,946,600 4,298,200 4,211,600 3,347,200 3,165,800 3,742,200 3,804,000 3,447,100 4,638,600 4,863,800 4,432,200 3,210,900 3,148,700 3,295,200 3,174,900 3,152,400 3,152,100 3,368,200 3,448,400 3,379,700 2,992,500
Notes payable, excluding current portion 6,279,200 6,277,400 6,275,700 6,274,000 6,272,300 7,269,200 7,267,200 7,426,200 7,425,000 7,423,800 4,459,900 4,459,000 4,458,200 5,948,500 5,943,200 5,936,500 5,931,100 5,928,400 5,929,400 5,935,000 5,938,300 5,954,000 5,952,700
Deferred tax liability 328,900 480,600 571,200 694,500 774,700 918,900 966,700 1,032,800 1,123,400 1,461,500 2,722,800 2,810,800 2,820,400 2,400,600 1,741,700 1,636,200 1,114,600 1,160,800 1,331,100 122,600 120,700 100,800 94,500
Long-term operating lease liabilities 354,800 274,200 312,300 330,400 348,200 363,900 380,000 402,000 409,100 414,800 403,700 412,700 410,500 423,000 436,100 — — — — — — — —
Other long-term liabilities 1,198,100 1,167,800 1,287,900 1,320,500 1,318,200 1,356,400 1,411,800 1,329,600 1,428,100 1,475,400 1,357,300 1,348,900 1,370,900 1,355,800 1,353,800 1,389,400 1,511,800 1,457,600 1,640,000 1,628,700 716,900 750,900 688,800
Long-term liabilities 8,161,000 8,200,000 8,447,100 8,619,400 8,713,400 9,908,400 10,025,700 10,190,600 10,385,600 10,775,500 8,943,700 9,031,400 9,060,000 10,127,900 9,474,800 8,962,100 8,557,500 8,546,800 8,900,500 7,686,300 6,775,900 6,805,700 6,736,000
Total liabilities 12,087,400 13,218,000 12,393,700 12,917,600 12,925,000 13,255,600 13,191,500 13,932,800 14,189,600 14,222,600 13,582,300 13,895,200 13,492,200 13,338,800 12,623,500 12,257,300 11,732,400 11,699,200 12,052,600 11,054,500 10,224,300 10,185,400 9,728,500
Preferred stock, par value $0.001 per share — — — — — — — — — — — — — — — — — — — — — — —
Common stock, par value $0.0005 per share 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100
Additional paid-in capital — — 119,000 68,200 — — — — — — 100 — — — — — 47,800 — — 97,800 59,200 19,300 —
Accumulated other comprehensive loss (163,600) (110,400) (115,200) (106,700) (136,600) (171,800) (174,300) (299,000) (225,500) (181,000) (149,300) (135,200) (92,300) (252,900) (219,800) (240,400) (248,300) (261,600) (303,900) (318,400) (329,400) (338,800) (325,200)
Retained earnings 15,916,100 14,959,900 14,215,500 13,911,700 13,543,500 13,900,700 13,833,500 13,976,300 13,961,000 14,466,700 15,673,100 16,455,400 17,065,200 16,182,800 17,026,700 16,257,000 16,944,100 15,499,500 17,334,600 15,810,400 16,107,700 14,881,700 14,781,200
Treasury stock, at cost (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100) (2,977,100)
Total Biogen Inc. shareholders’ equity 12,775,500 11,872,500 11,242,300 10,896,200 10,429,900 10,751,900 10,682,200 10,700,300 10,758,500 11,308,700 12,546,900 13,343,200 13,995,900 12,952,900 13,829,900 13,039,600 13,766,600 12,260,900 14,053,700 12,612,800 12,860,500 11,585,200 11,479,000
Noncontrolling interests (8,700) (9,100) (21,600) 63,500 451,800 462,900 (19,000) (14,200) (14,000) (19,500) (10,000) (4,100) (4,100) (4,100) (7,900) (8,000) (6,800) (7,200) (16,200) (14,700) (11,600) (11,600) (11,600)
Total equity 12,766,800 11,863,400 11,220,700 10,959,700 10,881,700 11,214,800 10,663,200 10,686,100 10,744,500 11,289,200 12,536,900 13,339,100 13,991,800 12,948,800 13,822,000 13,031,600 13,759,800 12,253,700 14,037,500 12,598,100 12,848,900 11,573,600 11,467,400
Total liabilities and equity 24,854,200 25,081,400 23,614,400 23,877,300 23,806,700 24,470,400 23,854,700 24,618,900 24,934,100 25,511,800 26,119,200 27,234,300 27,484,000 26,287,600 26,445,500 25,288,900 25,492,200 23,952,900 26,090,100 23,652,600 23,073,200 21,759,000 21,195,900

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The financial position between March 2017 and September 2022 is characterized by a moderate expansion of total liabilities and equity, peaking in 2019 before stabilizing. Total liabilities and equity grew from approximately 21.2 billion USD in early 2017 to a peak of 27.5 billion USD in September 2019, eventually settling at 24.8 billion USD by September 2022.

Liability Structure and Debt Management
Long-term liabilities exhibited significant volatility, primarily driven by notes payable. Long-term notes payable remained stable around 5.9 billion USD until 2019, when they decreased to 4.4 billion USD, followed by a sharp increase to approximately 7.4 billion USD in 2020. By late 2022, this figure stabilized near 6.3 billion USD. A notable reduction is observed in deferred tax liabilities, which peaked at 2.8 billion USD in late 2019 but declined consistently to 328.9 million USD by September 2022, representing a substantial decrease in long-term tax obligations.
Current Liability Trends
Current liabilities fluctuated between 2.9 billion USD and 5.0 billion USD. The most significant driver of these obligations was accrued expenses and other liabilities, which generally trended upward from 2.0 billion USD in 2017 to a peak of 3.3 billion USD in 2022. Short-term notes payable showed erratic patterns, with periods of near-zero balances in 2018, followed by spikes exceeding 1.5 billion USD in 2019 and 2020, and a return to approximately 1 billion USD in 2021 and 2022.
Equity Composition and Stability
Total equity remained relatively robust, though it experienced a decline from a peak of 14 billion USD in March 2019 to approximately 10.4 billion USD in September 2021, before recovering to 12.8 billion USD by September 2022. This movement was primarily influenced by fluctuations in retained earnings, which reached a high of 17.3 billion USD in early 2019 and ended the period at 15.9 billion USD.
Treasury Stock and Comprehensive Loss
Treasury stock remained entirely constant at negative 2.977 billion USD throughout the entire analyzed period, indicating no new share repurchases or retirements. Accumulated other comprehensive loss showed a general trend of improvement, moving from a deficit of 325.2 million USD in March 2017 to 163.6 million USD in September 2022, despite interim volatility.

Overall, the capital structure indicates a strategic shift in debt management and a significant reduction in deferred tax liabilities. While total liabilities peaked in 2020, the subsequent recovery in shareholders' equity and the stabilization of long-term debt suggest a transition toward a more balanced leverage position by the end of the period.

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