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.

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).

The financial data reflects the company’s asset composition and its evolution over the five-year period ending in 2020. A detailed analysis of various asset categories reveals notable trends and shifts in asset structure.

Cash and Cash Equivalents: There was a substantial increase from 2016 to 2017, rising from $735 million to $1,225 million. This level remained relatively high, peaking at $2,042 million in 2019 before slightly declining to $1,810 million by 2020. This indicates an initial accumulation of liquid assets, with a modest reduction in the final year.
Short-term Investments: These showed an overall upward trend with some fluctuation. Starting at $824 million in 2016, short-term investments rose sharply to $2,368 million in 2018, followed by a decrease to $1,372 million in 2019, and then rebounding to $1,662 million in 2020. This suggests active portfolio management or strategic reallocations in short-term financial assets.
Accounts Receivable, Net: Accounts receivable increased steadily from $381 million in 2016 to a peak of $573 million in 2019, before declining to $487 million in 2020. This pattern may reflect growing sales initially, with improved collections or reduced credit sales in the last year.
Inventory: The inventory levels grew moderately from $300 million in 2016 to $386 million in 2018 but then decreased slightly to $359 million in 2019, followed by a minor increase to $372 million in 2020. This relatively stable inventory level suggests consistent inventory management practices over this period.
Prepaid Expenses and Other Current Assets: This category exhibited fluctuations with a lower point of $78 million in 2018, rising to $152 million by 2020. The increase towards the end of the period may indicate changes in operational activities or prepayments for services or supplies.
Current Assets: The current assets showed significant growth from $2,318 million in 2016 to a peak of $4,490 million in 2018, maintaining a high level through 2020. This increase is largely driven by growth in cash equivalents, short-term investments, and accounts receivable.
Property and Equipment, Net: Property and equipment assets increased from $713 million in 2016 to a peak of $1,075 million in 2018, then declined to $922 million in 2020. This decline after 2018 might be associated with asset disposals, depreciation, or reduced capital expenditures.
Operating Lease Right-of-Use Assets: This category appears in 2019 at $555 million and slightly decreased to $532 million in 2020. The introduction reflects adoption of new accounting standards related to leasing. The small subsequent decline denotes minor changes in lease terms or usage.
Goodwill: Goodwill remained relatively stable, fluctuating slightly between $771 million in 2017 and $897 million in 2020. The modest increase towards the end may result from acquisitions or reassessments of asset value.
Intangible Assets, Net: Intangibles decreased overall from $243 million in 2016 to $142 million in 2020, with a gradual decline noted after 2017. This trend suggests amortization or impairment adjustments on intangible assets.
Deferred Tax Assets, Net: Deferred tax assets exhibited a steady decline from $123 million in 2016 to a low of $20 million in 2020. This consistent reduction may indicate changes in tax positions or realization of deferred tax benefits.
Other Assets: Other assets increased markedly from $107 million in 2016 to $589 million in 2020, indicating accumulation or recognition of miscellaneous or non-core assets over time.
Long-term Assets: Long-term assets increased progressively from $1,963 million in 2016 to $3,102 million in 2020, reflecting growth in property, equipment, goodwill, and other asset categories.
Total Assets: The overall total assets expanded significantly from $4,281 million in 2016 to $7,585 million in 2020. This steady growth underscores the company’s asset base expansion over the period, driven predominantly by current and long-term assets.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

Illumina Inc. (NASDAQ:ILMN)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items