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.

Vertex Pharmaceuticals Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash and cash equivalents	4,569,600)	10,369,100)	10,504,000)	6,795,000)	5,988,187)
Marketable securities	1,546,300)	849,200)	274,500)	729,900)	670,710)
Accounts receivable, net	1,609,400)	1,563,400)	1,442,200)	1,136,800)	885,352)
Inventories	1,205,400)	738,800)	460,600)	353,100)	280,777)
Tax-related prepaid and receivables	357,000)	429,000)	319,800)	358,600)	228,600)
Prepaid expenses	102,200)	108,600)	111,800)	83,500)	—)
Fair value of cash flow hedges	130,100)	1,800)	47,500)	44,500)	—)
Other	76,400)	84,300)	74,400)	59,200)	79,753)
Prepaid expenses and other current assets	665,700)	623,700)	553,500)	545,800)	308,353)
Current assets	9,596,400)	14,144,200)	13,234,800)	9,560,600)	8,133,379)
Property and equipment, net	1,227,800)	1,159,300)	1,108,400)	1,094,100)	958,534)
Goodwill	1,088,000)	1,088,000)	1,088,000)	1,002,200)	1,002,158)
Other intangible assets, net	825,900)	839,900)	603,600)	400,000)	400,000)
Deferred tax assets	2,331,100)	1,812,100)	1,246,900)	934,500)	882,779)
Operating lease assets	1,356,800)	293,600)	347,400)	330,300)	325,564)
Long-term marketable securities	5,107,900)	2,497,800)	112,200)	—)	—)
Other assets	999,300)	895,300)	409,600)	110,800)	49,394)
Non-current assets	12,936,800)	8,586,000)	4,916,100)	3,871,900)	3,618,429)
Total assets	22,533,200)	22,730,200)	18,150,900)	13,432,500)	11,751,808)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Cash and Cash Equivalents: There was a significant increase from 2020 through 2022, peaking at over 10.5 billion USD in 2022, before slightly decreasing in 2023 and dropping notably to approximately 4.57 billion USD in 2024.
Marketable Securities: The balance experienced fluctuations with a decrease in 2022 to 274.5 million USD, followed by a recovery to over 1.5 billion USD by the end of 2024.
Accounts Receivable, Net: This item showed steady growth from 885 million USD in 2020 to nearly 1.61 billion USD in 2024, indicating increasing sales or billings over the period.
Inventories: Inventories rose considerably, more than quadrupling from approximately 281 million USD in 2020 to over 1.2 billion USD in 2024, suggesting buildup of stock over the years.
Tax-Related Prepaid and Receivables: The values fluctuated, starting at 229 million USD and peaking in 2023 at 429 million USD before declining to 357 million USD in 2024.
Prepaid Expenses: Data available from 2021 shows an initial increase, reaching 111.8 million USD in 2022, followed by a slight decrease in subsequent years.
Fair Value of Cash Flow Hedges: Beginning in 2021, this item fluctuated notably, dropping sharply in 2023 to 1.8 million USD before rising again to 130.1 million USD in 2024.
Other and Prepaid Expenses and Other Current Assets: The "Other" category shows modest fluctuations around the 60-85 million USD range. The aggregate of prepaid expenses and other current assets grew from about 308 million USD in 2020 to nearly 666 million USD in 2024.
Current Assets: Current assets exhibited substantial growth across the period, reaching a high of 14.1 billion USD in 2023 before falling to approximately 9.6 billion USD in 2024, mainly influenced by changes in cash and equivalents as well as marketable securities.
Property and Equipment, Net: This asset class showed steady growth from 959 million USD in 2020 to about 1.23 billion USD in 2024, reflecting ongoing investment or asset valuation increases.
Goodwill: Goodwill remained relatively stable, around 1 billion USD, with a slight increase in 2022.
Other Intangible Assets, Net: After holding steady at 400 million USD for the first two years, intangible assets rose sharply in 2022 and 2023, peaking at nearly 840 million USD, then slightly decreased in 2024.
Deferred Tax Assets: The deferred tax assets displayed consistent growth each year, more than doubling from approximately 883 million USD in 2020 to over 2.3 billion USD in 2024.
Operating Lease Assets: These assets remained relatively steady until a sharp rise in 2024 to roughly 1.36 billion USD, indicating a significant change in lease-related assets during that year.
Long-Term Marketable Securities: This category grew significantly starting in 2022, escalating from 112 million USD to over 5 billion USD by 2024, representing a major shift in long-term investments.
Other Assets: Other assets expanded markedly, from 49 million USD in 2020 to nearly 1 billion USD in 2024, indicating accumulation or reclassification of other types of assets.
Non-Current Assets: Non-current assets demonstrated strong growth, from approximately 3.6 billion USD in 2020 to nearly 13 billion USD in 2024, with the most rapid increases occurring after 2022. This growth is driven by the accumulations in deferred tax assets, operating lease assets, long-term marketable securities, and other intangible assets.
Total Assets: Total assets increased substantially from 11.75 billion USD in 2020 to a peak of 22.7 billion USD in 2023, slightly declining to 22.5 billion USD in 2024. This trend reflects the overall growth in both current and non-current assets, with a notable deceleration at the end of the period mainly attributable to decreases in cash and current assets.

Assets: Selected Items

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Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items