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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Illumina Inc. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
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Illumina Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
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 analysis of contemporary financial metrics reveals several notable trends and shifts. The company's liquidity position, as measured by cash and cash equivalents, exhibits considerable volatility. Initially, cash holdings rose from 755 million USD in early April 2016 to a peak of 4433 million USD by early April 2021, followed by a sharp decline to 1080 million USD subsequently, indicating potential cash utilization or reallocation. Short-term investments demonstrate less consistency, peaking at 2368 million USD in late December 2018 but dropping significantly afterward, reaching as low as 90 million USD by early July 2021.
Accounts receivable appear relatively stable, with a gradual increase from 403 million USD in April 2016 to 604 million USD by October 2021. Inventory levels have fluctuated moderately without a clear upward or downward trajectory, peaking around 435 million USD in June 2020 before retreating somewhat.
Prepaid expenses and other current assets show a general increasing trend, particularly after 2018, highlighting growing upfront expense recognition or investments in operational resources. Overall current assets consistently grew from 2074 million USD in early 2016 to a high of 5642 million USD by April 2021, then receded sharply to 2451 million USD, possibly reflecting reclassification or asset disposal.
On the long-term asset side, property and equipment net values steadily increased over the period, rising from 385 million USD to a peak exceeding 1000 million USD by October 2021, evidencing continual capital investment. The introduction of operating lease right-of-use assets in 2019 accounts for an additional long-term asset category, stabilizing around approximately 550 to 670 million USD thereafter.
Goodwill maintained relative stability until early 2021, after which an extraordinary jump to 7098 million USD was recorded, suggesting a substantial acquisition or revaluation during the final period. Intangible assets net trended downward from 270 million USD to 134 million USD by April 2021 but then sharply increased to 3351 million USD by the last period, which likely correlates with the same event impacting goodwill.
Other long-term assets exhibited steady growth, increasing from 289 million USD to 756 million USD across the timeline. Total long-term assets consequently expanded from 1720 million USD in April 2016 to 12612 million USD in the final period, underscoring significant balance sheet growth driven by acquisitions and capital expenditures.
The total assets mirrored this overall expansion pattern, increasing from 3794 million USD to an all-time high of 15063 million USD by the end of the recorded intervals. This growth implies strategic investments, possible acquisitions, and enhanced asset base contributing to stronger corporate asset positioning.
In summary, liquidity measures have fluctuated appreciably, current assets grew with occasional declines, and long-term assets consistently expanded, impacted notably by increased goodwill and intangible assets in later periods. The financial data suggests strategic growth through investment and acquisition activity in recent quarters, reflecting an evolving asset structure with significant capitalization changes.