Name: Illumina Inc. (NASDAQ:ILMN) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Download chart

Illumina Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2020	Dec 29, 2019	Dec 30, 2018	Dec 31, 2017	Dec 31, 2016
Accounts payable	192)	149)	184)	160)	138)
Contract liabilities, current portion	186)	167)	175)	150)	141)
Accrued compensation expenses	153)	154)	193)	177)	112)
Accrued taxes payable	68)	86)	82)	50)	32)
Operating lease liabilities, current portion	51)	45)	—)	—)	—)
Other, including warranties	83)	64)	63)	55)	58)
Accrued liabilities	541)	516)	513)	432)	343)
Build-to-suit lease liability	—)	—)	—)	144)	223)
Long-term debt, current portion	511)	—)	1,107)	10)	1)
Current liabilities	1,244)	665)	1,804)	746)	705)
Operating lease liabilities, excluding current portion	671)	695)	—)	—)	—)
Long-term debt, excluding current portion	673)	1,141)	890)	1,182)	1,048)
Other long-term liabilities	303)	202)	359)	360)	214)
Long-term liabilities	1,647)	2,038)	1,249)	1,542)	1,262)
Total liabilities	2,891)	2,703)	3,053)	2,288)	1,966)
Redeemable noncontrolling interests	—)	—)	61)	220)	44)
Preferred stock, $0.01 par value; no shares issued and outstanding	—)	—)	—)	—)	—)
Common stock, $0.01 par value	2)	2)	2)	2)	2)
Additional paid-in capital	3,815)	3,560)	3,290)	2,833)	2,733)
Accumulated other comprehensive income (loss)	2)	5)	(1)	(1)	(1)
Retained earnings	4,723)	4,067)	3,083)	2,256)	1,485)
Treasury stock	(3,848)	(3,021)	(2,616)	(2,341)	(2,022)
Total Illumina stockholders’ equity	4,694)	4,613)	3,758)	2,749)	2,197)
Noncontrolling interests	—)	—)	87)	—)	73)
Total stockholders’ equity	4,694)	4,613)	3,845)	2,749)	2,270)
Total liabilities and stockholders’ equity	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 balance sheet reflects a period of significant expansion in both total liabilities and stockholders' equity from 2016 to 2020. Total liabilities and stockholders' equity grew from US$ 4,281 million to US$ 7,585 million, indicating a substantial increase in the company's overall asset base and capital structure.

Liability Composition and Debt Management: Total liabilities exhibited an overall upward trend, rising from US$ 1,966 million in 2016 to US$ 2,891 million in 2020. A notable volatility is observed in current liabilities, which peaked at US$ 1,804 million in 2018 primarily due to a spike in the current portion of long-term debt reaching US$ 1,107 million. This suggests a significant debt maturity event in 2018. By 2019, current liabilities decreased to US$ 665 million before rising again to US$ 1,244 million in 2020 as the current portion of long-term debt reappeared at US$ 511 million.; A structural shift in liabilities occurred in 2019 with the introduction of operating lease liabilities, totaling US$ 740 million (combining current and non-current portions). This suggests the adoption of new accounting standards regarding lease recognition. Long-term debt, excluding the current portion, fluctuated over the period, ending at US$ 673 million in 2020, down from a peak of US$ 1,182 million in 2017.
Equity Growth and Capital Allocation: Total stockholders' equity experienced consistent growth, increasing from US$ 2,197 million in 2016 to US$ 4,694 million in 2020. This growth was primarily driven by a substantial increase in retained earnings, which rose from US$ 1,485 million to US$ 4,723 million, signaling strong cumulative profitability over the five-year period.; Additional paid-in capital grew steadily from US$ 2,733 million to US$ 3,815 million. Simultaneously, there was an aggressive increase in treasury stock, moving from -US$ 2,022 million in 2016 to -US$ 3,848 million in 2020. This pattern indicates a significant corporate strategy of returning capital to shareholders through share repurchases, which offset some of the growth in total equity.
Operational Liabilities: Accrued liabilities showed a steady upward trajectory, increasing from US$ 343 million in 2016 to US$ 541 million in 2020. Within this category, accrued compensation expenses and contract liabilities (current portion) both trended higher, suggesting growth in the company's operational scale and deferred revenue obligations.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?