Name: Celgene Corp. (NASDAQ:CELG) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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Celgene Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Cash and cash equivalents	4,234)	7,013)	6,170)	4,880)	4,122)
Debt securities available-for-sale	496)	3,219)	—)	—)	—)
Equity investments with readily determinable fair values	1,312)	1,810)	—)	—)	—)
Marketable securities available-for-sale	—)	—)	1,800)	1,672)	3,425)
Accounts receivable, net of allowances	2,066)	1,921)	1,621)	1,421)	1,167)
Inventory	458)	541)	498)	443)	393)
Income tax receivable	—)	—)	43)	—)	—)
Other receivables	113)	80)	29)	—)	—)
Derivative assets	67)	14)	361)	409)	—)
Other prepaid taxes	140)	102)	119)	169)	—)
Prepaid income taxes	—)	—)	95)	161)	—)
Prepaid maintenance and software licenses	54)	42)	39)	31)	—)
Other	127)	150)	93)	215)	606)
Other current assets	501)	388)	779)	985)	606)
Current assets	9,067)	14,892)	10,868)	9,401)	9,713)
Property, plant and equipment, net	1,367)	1,070)	930)	814)	643)
Intangible assets, net	16,213)	8,436)	10,392)	10,858)	4,068)
Goodwill	8,003)	4,866)	4,866)	4,879)	2,191)
Other non-current assets	830)	877)	1,031)	1,101)	726)
Non-current assets	26,413)	15,249)	17,218)	17,653)	7,628)
Total assets	35,480)	30,141)	28,086)	27,053)	17,340)

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).

Total assets experienced significant growth over the five-year period, increasing from 17,340 million US dollars in 2014 to 35,480 million US dollars by the end of 2018. This expansion was primarily driven by a substantial increase in non-current assets, which grew from 7,628 million US dollars to 26,413 million US dollars, indicating a strategic shift toward long-term capital allocation and acquisition-led growth.

Liquidity and Short-Term Investments: Cash and cash equivalents showed a steady upward trajectory from 2014 to 2017, peaking at 7,013 million US dollars before declining to 4,234 million US dollars in 2018. A notable shift in investment strategy is observed between 2016 and 2018, where marketable securities available-for-sale were replaced by debt securities and equity investments with readily determinable fair values. However, by 2018, both debt securities and equity investments saw a reduction, contributing to the overall decrease in current assets from their 2017 peak of 14,892 million US dollars to 9,067 million US dollars in 2018.
Working Capital Components: Accounts receivable exhibited consistent annual growth, rising from 1,167 million US dollars in 2014 to 2,066 million US dollars in 2018, suggesting an increase in credit sales or a change in collection cycles. Inventory remained relatively stable, fluctuating between 393 million and 541 million US dollars, indicating tight management of physical stock relative to the overall growth of the balance sheet.
Intangible Assets and Goodwill: The most prominent growth occurred within intangible assets and goodwill, which together signal heavy investment in acquisitions. Intangible assets increased from 4,068 million US dollars in 2014 to 16,213 million US dollars in 2018, with a particularly sharp increase occurring in the final year. Similarly, goodwill grew from 2,191 million US dollars in 2014 to 8,003 million US dollars in 2018. The synchronized spikes in these accounts in 2015 and 2018 suggest the completion of major corporate acquisitions during those periods.
Fixed Assets and Other Non-Current Assets: Property, plant and equipment, net, demonstrated a steady linear increase, more than doubling from 643 million US dollars in 2014 to 1,367 million US dollars in 2018. Other non-current assets remained relatively flat after a peak in 2015, hovering around 830 million US dollars by 2018.

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