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Illumina Inc. (NASDAQ:ILMN)

This company has been moved to the archive! The financial data has not been updated since November 5, 2021.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Illumina Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Oct 3, 2021 Jul 4, 2021 Apr 4, 2021 Dec 31, 2020 Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 30, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016
Accounts payable 1.65 2.31 2.03 2.53 2.11 1.86 1.79 2.04 2.02 1.99 1.85 2.64 2.31 2.55 2.72 3.04 3.13 3.60 3.09 3.22 3.17 6.29 4.08
Accrued liabilities 4.42 7.77 6.88 7.13 6.10 6.58 5.85 7.05 6.71 6.78 6.40 7.37 6.66 7.21 7.00 8.22 7.55 7.78 8.39 8.01 7.46 8.29 8.61
Build-to-suit lease liability 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.33 0.36 0.38 2.74 2.46 2.55 4.18 5.20 4.22 0.00 0.00
Convertible senior notes, current portion 0.00 0.00 5.57 6.74 6.85 6.94 6.87 0.00 0.00 0.00 8.54 15.91 16.38 10.68 11.19 0.19 0.04 0.10 0.02 0.03 0.03 0.01 0.00
Current liabilities 6.07% 10.07% 14.48% 16.40% 15.06% 15.38% 14.52% 9.09% 8.73% 8.78% 16.79% 25.92% 25.67% 20.80% 21.29% 14.19% 13.18% 14.04% 15.68% 16.46% 14.87% 14.59% 12.68%
Operating lease liabilities, excluding current portion 5.20 8.12 7.58 8.85 9.16 9.40 9.59 9.50 9.75 10.01 9.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Term notes 6.59 11.44 11.33 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Convertible senior notes, excluding current portion 4.61 7.92 7.77 8.87 9.00 9.09 8.98 15.60 15.95 16.06 15.05 12.79 12.72 12.36 12.81 22.48 23.38 24.06 22.94 24.48 24.62 25.88 26.96
Other long-term liabilities 7.20 2.74 2.62 3.99 3.31 3.17 3.08 2.76 2.95 3.03 2.87 5.16 5.21 5.86 6.57 6.85 4.40 4.36 4.61 5.00 4.83 4.98 4.89
Long-term liabilities 23.61% 30.21% 29.30% 21.71% 21.46% 21.66% 21.65% 27.86% 28.65% 29.10% 27.63% 17.95% 17.93% 18.22% 19.38% 29.33% 27.78% 28.43% 27.56% 29.48% 29.45% 30.86% 31.85%
Total liabilities 29.68% 40.29% 43.78% 38.11% 36.52% 37.04% 36.17% 36.95% 37.38% 37.87% 44.42% 43.87% 43.60% 39.02% 40.67% 43.52% 40.96% 42.47% 43.24% 45.94% 44.32% 45.46% 44.53%
Redeemable noncontrolling interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.88 3.23 3.71 3.88 4.18 2.46 1.65 1.28 1.03 0.81 0.85 0.88
Common stock 0.01 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.05
Additional paid-in capital 58.75 46.03 44.71 50.30 50.47 50.34 50.01 48.66 49.51 49.28 45.81 47.28 45.76 50.23 52.27 53.89 57.29 58.38 60.85 63.86 64.76 66.87 69.00
Accumulated other comprehensive income (loss) 0.09 0.09 0.09 0.03 0.16 0.19 0.08 0.07 0.07 0.07 0.03 -0.01 -0.03 -0.02 -0.02 -0.02 0.00 0.00 -0.02 -0.02 0.03 0.06 0.05
Retained earnings 35.66 58.27 55.63 62.27 60.32 59.15 58.39 55.59 54.00 51.54 44.63 44.30 42.49 45.68 44.46 42.91 43.36 41.68 41.26 34.70 32.21 30.93 29.32
Treasury stock, at cost -24.19 -44.70 -44.23 -50.73 -47.50 -46.76 -44.68 -41.29 -40.99 -38.79 -36.56 -37.59 -36.43 -40.27 -42.48 -44.53 -44.11 -44.22 -46.65 -47.25 -44.06 -46.32 -45.94
Total Illumina stockholders’ equity 70.32% 59.71% 56.22% 61.89% 63.48% 62.96% 63.83% 63.05% 62.62% 62.13% 53.92% 54.00% 51.83% 55.67% 54.28% 52.29% 56.58% 55.89% 55.48% 51.33% 52.99% 51.59% 52.48%
Noncontrolling interests 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.15 1.25 1.35 1.61 1.17 0.00 0.00 0.00 0.00 1.71 1.88 2.11 2.10
Total stockholders’ equity 70.32% 59.71% 56.22% 61.89% 63.48% 62.96% 63.83% 63.05% 62.62% 62.13% 55.07% 55.25% 53.17% 57.27% 55.45% 52.29% 56.58% 55.89% 55.48% 53.04% 54.87% 53.70% 54.59%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-29), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-30), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-10-01), 10-Q (reporting date: 2017-07-02), 10-Q (reporting date: 2017-04-02), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-10-02), 10-Q (reporting date: 2016-07-03), 10-Q (reporting date: 2016-04-03).

The capital structure exhibits a long-term transition toward a greater reliance on equity financing and a reduction in total leverage. Total liabilities decreased from a range of 44% to 46% in 2016 to a low of 29.68% by October 3, 2021. Conversely, total stockholders' equity increased from approximately 54% in 2016 to 70.32% by the end of the observed period, indicating a strengthening of the solvency position.

Debt Profile and Obligations
A significant reduction in long-term debt is evident, specifically within the convertible senior notes. This item declined from 26.96% of total liabilities and stockholders' equity in April 2016 to 4.61% in October 2021. There was a notable spike in the current portion of these notes during 2018, peaking at 16.38% in September 2018, which contributed to a temporary increase in current liabilities to 25.92% during that same period. By the final quarter of the analysis, current liabilities had dropped to 6.07%, the lowest level in the dataset.
Equity Composition and Retained Earnings
Retained earnings showed a consistent upward trajectory for several years, rising from 29.32% in April 2016 to a peak of 62.27% in December 2020, reflecting sustained profitability and reinvestment. However, a sharp decline occurred in the final recorded period, with retained earnings dropping to 35.66% in October 2021. This coincided with a significant increase in additional paid-in capital, which rose from 46.03% in July 2021 to 58.75% in October 2021.
Treasury Stock and Share Repurchases
The balance sheet reflects aggressive share repurchase activity, as indicated by the treasury stock account. This item remained heavily negative, frequently fluctuating between -40% and -50% of total liabilities and stockholders' equity between 2016 and 2021. In the final quarter, the treasury stock value shifted to -24.19%, suggesting a substantial change in the equity structure or a revaluation of shares.
Operational Liabilities
Accrued liabilities remained relatively stable, generally fluctuating between 4% and 8% throughout the period. A new component, operating lease liabilities, appeared in mid-2019, initially representing approximately 9% to 10% of the total balance sheet, before declining to 5.20% by October 2021.

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