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.

Moderna Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash and cash equivalents	1,644)	2,478)	2,051)	2,907)	2,932)	3,801)	3,441)	3,205)	3,027)	2,873)	5,048)	6,848)	5,550)	5,603)	5,442)	2,624)	1,506)	1,762)	392)	236)	174)	152)	503)
Investments	5,223)	6,010)	6,472)	5,697)	4,641)	4,658)	5,482)	6,697)	5,321)	5,024)	5,067)	3,879)	3,356)	2,387)	2,293)	1,984)	1,771)	955)	826)	867)	885)	919)	606)
Accounts receivable, net	1,564)	163)	137)	892)	1,866)	232)	1,113)	1,385)	2,695)	2,691)	3,173)	3,175)	3,142)	2,020)	3,210)	1,391)	191)	33)	7)	5)	8)	5)	7)
Inventory	412)	399)	295)	202)	487)	715)	732)	949)	2,077)	1,921)	1,942)	1,441)	965)	643)	494)	47)	—)	—)	—)	—)	—)	—)	—)
Prepaid expenses and other current assets	823)	611)	645)	627)	873)	1,193)	1,354)	1,195)	1,177)	1,054)	1,120)	728)	412)	316)	264)	253)	110)	46)	25)	20)	28)	23)	25)
Current assets	9,666)	9,661)	9,600)	10,325)	10,799)	10,599)	12,122)	13,431)	14,297)	13,563)	16,350)	16,071)	13,425)	10,969)	11,703)	6,298)	3,577)	2,797)	1,250)	1,129)	1,094)	1,097)	1,141)
Investments, non-current	2,335)	2,326)	3,638)	4,677)	5,273)	6,105)	7,442)	8,318)	8,655)	10,162)	9,171)	6,843)	6,442)	4,207)	468)	639)	692)	355)	502)	160)	280)	365)	438)
Property, plant and equipment, net	2,381)	2,196)	2,063)	1,945)	1,952)	2,280)	2,018)	2,018)	2,019)	1,324)	1,341)	1,241)	845)	794)	372)	297)	277)	230)	202)	201)	204)	209)	213)
Right-of-use assets, operating leases	784)	775)	697)	713)	765)	130)	117)	121)	113)	122)	132)	142)	115)	104)	89)	90)	92)	92)	101)	86)	—)	—)	—)
Deferred tax assets	81)	81)	81)	81)	—)	1,480)	1,262)	982)	920)	785)	521)	326)	81)	66)	50)	—)	—)	—)	—)	—)	—)	—)	—)
Other non-current assets	556)	641)	650)	685)	661)	1,290)	1,164)	988)	52)	87)	94)	46)	15)	13)	12)	13)	13)	12)	13)	13)	13)	14)	14)
Non-current assets	6,137)	6,019)	7,129)	8,101)	8,651)	11,285)	12,003)	12,427)	11,759)	12,480)	11,259)	8,598)	7,498)	5,184)	991)	1,039)	1,074)	689)	818)	461)	496)	588)	665)
Total assets	15,803)	15,680)	16,729)	18,426)	19,450)	21,884)	24,125)	25,858)	26,056)	26,043)	27,609)	24,669)	20,923)	16,153)	12,694)	7,337)	4,651)	3,486)	2,068)	1,589)	1,591)	1,685)	1,806)

The financial data reveals significant variability and certain key trends over the analyzed periods.

Liquidity and Cash Position: "Cash and cash equivalents" exhibit marked volatility, beginning at US$503 million in early 2019, dropping sharply mid-2019, then surging in 2020 to a peak above US$2.6 billion by year-end. The highest cash balances occur in 2021 with a peak exceeding US$6.8 billion, followed by a general decline through 2024, falling to around US$1.6 billion by the third quarter. This suggests a phase of significant cash accumulation followed by steady usage or investment.
Investments: Current "Investments" rise gradually from US$606 million in early 2019 to a peak near US$6.7 billion in late 2022, followed by fluctuations but remaining above US$5 billion through 2024. "Non-current investments" start lower, with some variability, peaking at over US$10 billion in mid-2022, then exhibit a downward trend toward approximately US$2.3 billion by late 2024. This pattern indicates aggressive investment activity initially, with subsequent liquidation or reclassification.
Receivables and Inventory: "Accounts receivable, net" show a sharp increase from single-digit millions pre-2020 to a peak exceeding US$3.2 billion in early 2021, reflecting potentially expanded sales or extended credit terms. Subsequently, the receivables show a declining trend, dipping below US$200 million in mid-2023, before rising again toward US$1.5 billion in late 2024.; "Inventory" data is absent before 2020, then rises steadily, peaking near US$2 billion in late 2022, thereby indicating a buildup of stock possibly aligned with operational scale-up, before decreasing significantly to around US$200 million by mid-2024. This could reflect inventory management adjustments or shifts in demand.
Other Current Assets: "Prepaid expenses and other current assets" grow consistently from US$25 million in early 2019 to more than US$1.3 billion by early 2023, followed by a decline through 2024. This steady rise may correspond with increased prepaid services or short-term assets supporting operations.
Overall Current Assets and Non-current Assets: "Current assets" more than double from about US$1.1 billion in early 2019 to almost US$16.1 billion in late 2021, then decrease gradually to roughly US$9.6 billion by mid-2024. This reflects the combined effects of cash, receivables, investments, inventory, and other current items.; "Non-current assets" also show significant growth—from around US$665 million in early 2019 to a peak exceeding US$12.4 billion in early 2022—before declining to near US$6.1 billion by late 2024. The peak aligns with large accumulated deferred tax assets and property, plant and equipment expansions.
Fixed Assets and Lease Assets: "Property, plant and equipment, net" increase steadily from approximately US$213 million in early 2019 to over US$2.3 billion by late 2024, indicating ongoing capital expenditures and asset base expansion supporting production capabilities.; "Right-of-use assets, operating leases" emerge in 2019 and remain relatively stable until 2022, after which they jump sharply to around US$765 million, maintaining high levels into 2024. This sudden increase suggests new significant leasing arrangements or capitalizing of leases previously off-balance.
Deferred Tax and Other Assets: "Deferred tax assets" are nil or minimal until late 2020 when they begin to rise markedly, peaking near US$1.5 billion in early 2023, then dropping sharply afterward. This could reflect recognized tax benefits linked to prior losses or credits, subject to revaluation subsequently.; "Other non-current assets" remain modest initially but increase notably in late 2022, possibly due to intangible assets or long-term receivables, before trending downward.
Total Assets: Total assets increase substantially from US$1.8 billion in early 2019 to a high above US$27.6 billion in early 2022, then decline steadily to approximately US$15.8 billion by late 2024. This expansion and contraction mirror trends in cash, investments, receivables, and tax assets, reflecting phases of rapid growth and subsequent stabilization or consolidation.

In summary, the financial patterns show a transformative growth phase with large cash and investment accumulation, expanding receivables and inventory consistent with scaling operations, followed by a notable decline across several asset categories after 2022. The capital asset base has expanded steadily, supporting operational infrastructure. The fluctuations in deferred tax assets suggest changing tax positions over the period. The overall asset base peaked in early 2022 and subsequently reduced, likely reflecting operational shifts and cash deployment.

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Moderna Inc. (NASDAQ:MRNA)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data