Name: Illumina Inc. (NASDAQ:ILMN) | 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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Illumina Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Cash and cash equivalents	1,810)	2,042)	1,144)	1,225)	735)
Short-term investments	1,662)	1,372)	2,368)	920)	824)
Accounts receivable, net	487)	573)	514)	411)	381)
Inventory	372)	359)	386)	333)	300)
Prepaid expenses and other current assets	152)	105)	78)	91)	78)
Current assets	4,483)	4,451)	4,490)	2,980)	2,318)
Property and equipment, net	922)	889)	1,075)	931)	713)
Operating lease right-of-use assets	532)	555)	—)	—)	—)
Goodwill	897)	824)	831)	771)	776)
Intangible assets, net	142)	145)	185)	175)	243)
Deferred tax assets, net	20)	64)	70)	88)	123)
Other assets	589)	388)	308)	312)	107)
Long-term assets	3,102)	2,865)	2,469)	2,277)	1,963)
Total assets	7,585)	7,316)	6,959)	5,257)	4,281)

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).

Total assets experienced consistent growth over the five-year period, increasing from US$ 4,281 million in 2016 to US$ 7,585 million by the end of 2020. This expansion was driven by significant increases in both current and long-term asset bases, with the most aggressive growth occurring between 2017 and 2018.

Liquidity and Short-Term Financial Position: A substantial expansion in liquidity is observed, particularly between 2016 and 2019. Cash and cash equivalents grew from US$ 735 million in 2016 to a peak of US$ 2,042 million in 2019. Short-term investments exhibited a sharp increase in 2018, reaching US$ 2,368 million. These trends contributed to a significant rise in total current assets, which climbed from US$ 2,318 million in 2016 to a plateau of approximately US$ 4,483 million by 2020.
Working Capital Trends: Accounts receivable, net, showed a steady upward trajectory from US$ 381 million in 2016 to a peak of US$ 573 million in 2019, followed by a moderate decrease to US$ 487 million in 2020. Inventory levels remained relatively stable, fluctuating between US$ 300 million and US$ 386 million, suggesting that inventory growth did not scale linearly with the overall expansion of the balance sheet.
Non-Current Asset Composition: Long-term assets increased steadily from US$ 1,963 million in 2016 to US$ 3,102 million in 2020. A notable structural change occurred in 2019 with the introduction of operating lease right-of-use assets, valued at US$ 555 million, which remained relatively stable through 2020. Property and equipment, net, peaked in 2018 at US$ 1,075 million before declining slightly. Goodwill showed a gradual increase over the period, ending at US$ 897 million in 2020.
Deferred Tax and Other Assets: A consistent downward trend is observed in deferred tax assets, net, which declined from US$ 123 million in 2016 to US$ 20 million in 2020. Conversely, other assets saw significant growth, rising from US$ 107 million in 2016 to US$ 589 million in 2020, representing a substantial increase in the proportion of miscellaneous long-term holdings.

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