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.
Celgene Corp., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).
The annual financial data reveals various trends and fluctuations across different asset categories. There is notable growth in total assets, increasing from US$17,340 million in 2014 to US$35,480 million in 2018, indicating significant expansion over the five-year period.
- Cash and Cash Equivalents
- Cash and cash equivalents showed a general upward trend from 2014 to 2017, rising from US$4,122 million to US$7,013 million. However, in 2018 there was a marked decline to US$4,234 million, representing a substantial reduction compared to the previous year.
- Debt Securities Available-for-Sale
- This asset category was reported only in 2017 and 2018, starting at US$3,219 million and dropping to US$496 million, suggesting either partial liquidation or reclassification of these securities.
- Equity Investments with Readily Determinable Fair Values
- Equity investments appeared in 2017 and declined in 2018, from US$1,810 million to US$1,312 million, reflecting a modest decrease in fair value or disposition activity.
- Marketable Securities Available-for-Sale
- Marketable securities decreased sharply from US$3,425 million in 2014 to US$1,800 million in 2016 and were not reported thereafter, indicating potential sales or transfers into other investment categories.
- Accounts Receivable, Net of Allowances
- Accounts receivable showed a steady increase throughout the period, rising from US$1,167 million in 2014 to US$2,066 million in 2018, which may point to increasing sales on credit or extended payment terms.
- Inventory
- Inventory levels increased gradually from US$393 million to US$541 million between 2014 and 2017, but then declined to US$458 million in 2018, indicating possible inventory management optimization or variation in demand.
- Receivables and Prepaid Taxes
- Income tax receivable was recorded only in 2016 at US$43 million. Other receivables grew from US$29 million in 2016 to US$113 million in 2018. Prepaid income taxes decreased from US$161 million in 2015 to zero by 2017, while other prepaid taxes fluctuated modestly without clear trend. These variances may reflect changes in tax strategies or timing differences.
- Derivative Assets
- Derivative assets decreased significantly from US$409 million in 2015 to US$14 million in 2017 with a slight rebound to US$67 million in 2018, suggesting reduced exposure or hedging activity.
- Other Current Assets
- Other current assets declined sharply from US$606 million in 2014 to US$388 million in 2017 but increased again to US$501 million in 2018. The volatility here may reflect changes in miscellaneous short-term assets or classifications.
- Property, Plant and Equipment, Net
- This asset category demonstrated consistent growth from US$643 million in 2014 to US$1,367 million in 2018, reflecting ongoing investment in fixed assets and expansion of operational capacity.
- Intangible Assets, Net
- Intangible assets showed fluctuations, peaking notably at US$10,858 million in 2015, decreasing to US$8,436 million by 2017, and then surging to US$16,213 million in 2018. These variations suggest acquisition activity or impairment losses during the period.
- Goodwill
- Goodwill increased sharply from US$2,191 million in 2014 to US$4,879 million in 2015 and remained stable until 2017 before jumping to US$8,003 million in 2018, indicating significant acquisition transactions contributing to intangible value.
- Other Non-Current Assets
- Other non-current assets increased from US$726 million in 2014 to US$1,101 million in 2015, then gradually declined to US$830 million by 2018, suggesting minor disposals or amortization.
- Current Assets
- Current assets peaked in 2017 at US$14,892 million, supported by increases in cash, receivables, and other current asset components, but dropped substantially in 2018 to US$9,067 million, reflecting changes in liquidity or asset reclassification.
- Non-Current Assets
- Non-current assets rose significantly from US$7,628 million in 2014 to US$26,413 million in 2018, driven primarily by the growth in intangible assets and property, plant and equipment, highlighting substantial long-term investment.