Stock Analysis on Net
Stock Analysis on Net

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

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.

Vertex Pharmaceuticals Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

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Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Accounts payable 100,703  87,610  92,528  77,045  82,262  110,987  92,149  83,034  74,062  73,994  77,138  75,941  63,145  61,451  50,914  51,302  75,221  74,942  78,899  72,703  43,524 
Accrued expenses 1,258,271  1,116,912  1,173,783  1,069,072  915,448  958,899  828,491  769,577  679,677  676,362  568,826  492,748  382,736  388,665  292,015  275,165  272,665  305,820  249,698  206,030  176,981 
Senior secured term loan, current portion —  —  —  —  —  —  —  —  —  —  —  —  —  —  297,751  221,576  146,251  71,478  —  42,873  28,527 
Credit facility —  —  —  —  —  —  —  —  —  —  —  —  —  300,000  —  —  —  —  —  —  — 
Other current liabilities 179,776  130,305  122,583  113,103  108,758  50,406  71,868  74,689  73,573  56,904  64,775  56,717  43,915  42,421  82,161  74,812  57,904  54,109  46,362  52,217  53,406 
Current liabilities 1,538,750  1,334,827  1,388,894  1,259,220  1,106,468  1,120,292  992,508  927,300  827,312  807,260  710,739  625,406  489,796  792,537  722,841  622,855  552,041  506,349  374,959  373,823  302,438 
Long-term finance lease liabilities 532,952  538,576  541,561  551,530  560,381  581,550  576,530  577,675  578,206  583,902  567,310  550,365  529,130  521,335  504,792  506,691  511,380  515,534  511,997  515,734  519,442 
Deferred tax liabilities —  —  —  —  —  —  9,414  9,335  9,636  6,341  10,682  136,649  135,402  134,063  133,270  132,810  112,259  110,439  113,860  112,413  15,093 
Long-term contingent consideration 178,100  176,500  175,000  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Senior secured term loan, excluding current portion —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  74,921  149,571  223,969  294,832  251,939  266,266 
Other long-term liabilities 181,745  183,318  155,704  152,756  152,952  108,853  107,907  106,193  106,999  106,205  106,350  105,943  109,582  110,661  40,397  42,860  46,457  48,956  61,613  71,948  65,051 
Long-term liabilities 892,797  898,394  872,265  704,286  713,333  690,403  693,851  693,203  694,841  696,448  684,342  792,957  774,114  766,059  678,459  757,282  819,667  898,898  982,302  952,034  865,852 
Total liabilities 2,431,547  2,233,221  2,261,159  1,963,506  1,819,801  1,810,695  1,686,359  1,620,503  1,522,153  1,503,708  1,395,081  1,418,363  1,263,910  1,558,596  1,401,300  1,380,137  1,371,708  1,405,247  1,357,261  1,325,857  1,168,290 
Preferred stock, $0.01 par value; none issued and outstanding —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Common stock, $0.01 par value 2,591  2,589  2,571  2,565  2,561  2,546  2,551  2,542  2,541  2,512  2,500  2,479  2,459  2,450  2,446  2,440  2,429  2,427  2,419  2,406  2,399 
Additional paid-in capital 7,695,905  7,937,606  7,668,188  7,564,331  7,475,909  7,421,476  7,443,263  7,357,042  7,314,369  7,157,362  7,034,113  6,808,002  6,616,975  6,506,795  6,429,726  6,350,244  6,262,964  6,197,500  6,106,270  5,987,169  5,877,324 
Accumulated other comprehensive income (loss) 13,383  (1,973) 18,847  (3,201) 6,000  659  307  (4,605) (39,743) (11,572) (25,129) (21,753) 16,025  21,173  (3,845) (3,390) (4,899) 1,824  1,511  (1,707) 791 
Accumulated deficit (1,250,225) (1,852,978) (2,436,212) (2,493,730) (2,761,157) (2,989,478) (4,540,005) (4,668,751) (4,876,111) (5,119,723) (5,220,407) (5,117,455) (5,135,451) (5,373,836) (5,406,781) (5,367,940) (5,303,415) (5,261,784) (5,188,053) (5,092,904) (4,904,056)
Total Vertex shareholders’ equity 6,461,654  6,085,244  5,253,394  5,069,965  4,723,313  4,435,203  2,906,116  2,686,228  2,401,056  2,028,579  1,791,077  1,671,273  1,500,008  1,156,582  1,021,546  981,354  957,079  939,967  922,147  894,964  976,458 
Noncontrolling interest —  —  —  —  —  —  28,365  28,655  29,765  13,727  12,167  195,958  182,785  181,609  186,795  187,491  159,119  153,661  154,585  153,252  21,079 
Total shareholders’ equity 6,461,654  6,085,244  5,253,394  5,069,965  4,723,313  4,435,203  2,934,481  2,714,883  2,430,821  2,042,306  1,803,244  1,867,231  1,682,793  1,338,191  1,208,341  1,168,845  1,116,198  1,093,628  1,076,732  1,048,216  997,537 
Total liabilities and shareholders’ equity 8,893,201  8,318,465  7,514,553  7,033,471  6,543,114  6,245,898  4,620,840  4,335,386  3,952,974  3,546,014  3,198,325  3,285,594  2,946,703  2,896,787  2,609,641  2,548,982  2,487,906  2,498,875  2,433,993  2,374,073  2,165,827 

Based on: 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-01), 10-K (filing date: 2019-02-13), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-27), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-30), 10-Q (filing date: 2017-07-28), 10-Q (filing date: 2017-04-28), 10-K (filing date: 2017-02-23), 10-Q (filing date: 2016-10-31), 10-Q (filing date: 2016-08-01), 10-Q (filing date: 2016-05-03), 10-K (filing date: 2016-02-16), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-04), 10-Q (filing date: 2015-05-04).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Vertex Pharmaceuticals Inc.’s current liabilities decreased from Q3 2019 to Q4 2019 but then increased from Q4 2019 to Q1 2020 exceeding Q3 2019 level.
Long-term liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Vertex Pharmaceuticals Inc.’s long-term liabilities increased from Q3 2019 to Q4 2019 but then slightly decreased from Q4 2019 to Q1 2020.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Vertex Pharmaceuticals Inc.’s total liabilities decreased from Q3 2019 to Q4 2019 but then increased from Q4 2019 to Q1 2020 exceeding Q3 2019 level.
Total Vertex shareholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Vertex Pharmaceuticals Inc.’s total Vertex shareholders’ equity increased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.