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Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)


Balance Sheet: Assets

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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

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Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Cash and cash equivalents 3,109,322  2,650,134  1,665,412  1,183,945  714,768 
Marketable securities 698,972  518,108  423,254  250,612  327,694 
Accounts receivable, net 633,518  409,688  281,343  201,083  177,639 
Inventories 167,502  124,360  111,830  77,604  57,207 
Prepaid expenses and other current assets 213,515  140,819  167,124  118,296  129,845 
Current assets 4,822,829  3,843,109  2,648,963  1,831,540  1,407,153 
Property and equipment, net 745,080  812,005  789,437  698,362  697,715 
Goodwill 1,002,158  50,384  50,384  50,384  50,384 
Intangible assets 400,000  —  29,000  284,340  284,340 
Deferred tax assets 1,190,815  1,499,672  834  336  355 
Note receivable —  —  —  —  30,000 
Other assets 157,583  40,728  27,396  31,825  28,928 
Non-current assets 3,495,636  2,402,789  897,051  1,065,247  1,091,722 
Total assets 8,318,465  6,245,898  3,546,014  2,896,787  2,498,875 

Based on: 10-K (filing date: 2020-02-13), 10-K (filing date: 2019-02-13), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-16).


Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Vertex Pharmaceuticals Inc.’s current assets increased from 2017 to 2018 and from 2018 to 2019.
Property and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Vertex Pharmaceuticals Inc.’s property and equipment, net increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Non-current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Vertex Pharmaceuticals Inc.’s non-current assets increased from 2017 to 2018 and from 2018 to 2019.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Vertex Pharmaceuticals Inc.’s total assets increased from 2017 to 2018 and from 2018 to 2019.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Vertex Pharmaceuticals Inc.’s cash and cash equivalents increased from 2017 to 2018 and from 2018 to 2019.
Marketable securities Amount of investment in marketable security, classified as current. Vertex Pharmaceuticals Inc.’s marketable securities increased from 2017 to 2018 and from 2018 to 2019.
Accounts receivable, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Vertex Pharmaceuticals Inc.’s accounts receivable, net increased from 2017 to 2018 and from 2018 to 2019.
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Vertex Pharmaceuticals Inc.’s inventories increased from 2017 to 2018 and from 2018 to 2019.