Analysis of Inventory
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Inventory Disclosure
Illumina Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2020 | Dec 29, 2019 | Dec 30, 2018 | Dec 31, 2017 | Dec 31, 2016 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished goods | |||||||||||
| Inventory |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-29), 10-K (reporting date: 2018-12-30), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
- Raw materials
- The value of raw materials shows some fluctuation over the five-year period. It decreased from 102 million USD in 2016 to 93 million USD in 2017, followed by an increase to 117 million USD in 2018. Thereafter, it declined slightly to 108 million USD in 2019 and further decreased to 106 million USD in 2020. Overall, the raw materials inventory exhibits moderate variability without a clear upward or downward trend.
- Work in process
- There is a consistent upward trend in work in process inventory from 161 million USD in 2016 to 244 million USD in 2020. The increase is steady each year, indicating a growing amount of inventory that is mid-production, possibly reflecting higher production volumes or longer processing times over the period.
- Finished goods
- The finished goods inventory experienced an increase from 37 million USD in 2016 to 52 million USD in 2017, maintaining almost the same level in 2018 at 51 million USD. However, from 2018 onward, there is a noticeable decline to 26 million USD in 2019 and further down to 22 million USD in 2020. This pattern suggests a reduction in finished goods stock, possibly due to improved sales or inventory management policies aimed at minimizing holding costs.
- Total inventory
- Total inventory demonstrates a general upward trend despite some fluctuations. It rose from 300 million USD in 2016 to a peak of 386 million USD in 2018, followed by a decrease to 359 million USD in 2019, then increased again to 372 million USD in 2020. This overall increase aligns with the rise in work in process inventory and suggests an expansion of inventory holdings, although the decline after 2018 may indicate efforts to optimize inventory levels.