Balance Sheet: Assets
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.
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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Celgene Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Celgene Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31).
The analysis of the quarterly financial data reveals several noteworthy trends concerning liquidity, asset structure, and overall financial position.
- Liquidity and Cash Management
- Cash and cash equivalents show a generally increasing trend from March 2014 (US$2,397 million) to December 2017 (US$7,013 million), with some fluctuations in between. Notably, from March 2018 onwards, significant volatility is observed, with cash dropping sharply in June 2018 (US$1,503 million) before recovering steadily to reach a peak of US$9,604 million by September 2019. This suggests episodic liquidity events or funding activities affecting cash reserves.
- Investment Securities
- Marketable securities available-for-sale initially increase from US$2,714 million in March 2014 to a peak of US$3,588 million in December 2016 but then show gaps in data from March 2017 onwards, making trend analysis limited. Debt securities begin reporting only from March 2018; their values fluctuate at relatively lower levels (e.g., US$3,219 million in March 2018 dropping to under US$100 million in following quarters), indicating either changes in investment policies or reclassification. Equity investments with readily determinable fair values appear beginning March 2017 with values fluctuating between US$1,279 million and US$1,853 million, suggesting an active portfolio of equity investments.
- Accounts Receivable and Inventory
- Accounts receivable show a consistent upward trend over the periods, increasing from US$1,073 million in March 2014 to a high of US$2,451 million in June 2019 before a slight decline to US$2,374 million in September 2019. This steady increase may reflect growing sales or extended customer credit terms. Inventory levels also increase gradually from US$348 million to a peak of US$555 million in June 2018 before declining towards US$451 million by September 2019, which might suggest improved inventory management or changes in demand dynamics.
- Asset Components and Capital Investments
- Property, plant, and equipment (net) steadily increase from US$596 million in early 2014 to US$1,415 million by September 2019, indicating ongoing capital expenditures and asset base expansion. Conversely, intangible assets (net) show substantial growth, especially around mid-2015 when they spike from approximately US$4,000 million to over US$10,000 million, peaking at nearly US$16,599 million in March 2018. Such a sharp increase may be tied to acquisitions or revaluation of intangible assets followed by a mild decline towards US$16,387 million by September 2019. Goodwill mirrors this pattern, significantly increasing between June 2015 and March 2018 and stabilizing around US$8,000 million thereafter, consistent with acquisition activity.
- Asset Totals and Structural Changes
- Total assets expand markedly from US$12,705 million in March 2014 to US$41,363 million by September 2019, showing substantial growth in overall asset base. The non-current asset category roughly doubles from US$5,763 million to around US$26,909 million over the same period, reflecting the impact of increased intangible assets, goodwill, and property, plant and equipment. This pronounced increase underscores strategic investments and acquisition-driven growth.
- Other Assets and Current Asset Fluctuations
- Other current assets fluctuate widely but do not exhibit a clear trend, ranging roughly between US$383 million to nearly US$985 million over the years, reflecting variability in short-term receivables or prepaid expenses. Current assets overall increase robustly until late 2017, reaching close to US$14,892 million, before declining in 2018 to around US$6,853 million in June, then recovering to US$14,454 million by September 2019. This pattern likely corresponds to changes in cash, marketable securities, and receivables, indicating shifting liquidity and working capital management.