Name: Boston Scientific Corp. (NYSE:BSX) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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Boston Scientific Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	928)	1,925)	1,734)	217)	146)
Trade accounts receivable, net	1,970)	1,778)	1,531)	1,828)	1,608)
Inventories	1,867)	1,610)	1,351)	1,579)	1,166)
Prepaid income taxes	264)	205)	194)	195)	161)
Assets held for sale	—)	—)	1,133)	—)	—)
Restricted cash and restricted cash equivalents	149)	188)	208)	346)	655)
Derivative assets	232)	226)	133)	105)	122)
Licensing arrangements	60)	132)	148)	186)	—)
Other	290)	253)	262)	243)	145)
Other current assets	731)	799)	751)	880)	922)
Current assets	5,760)	6,317)	6,694)	4,699)	4,003)
Property, plant and equipment, net	2,446)	2,252)	2,084)	2,079)	1,782)
Goodwill	12,920)	11,988)	9,951)	10,176)	7,911)
Other intangible assets, net	5,902)	6,121)	5,917)	7,886)	6,372)
Deferred tax assets	3,942)	4,142)	4,210)	4,196)	87)
Restricted cash equivalents	48)	55)	52)	43)	27)
Operating lease right-of-use assets	386)	435)	458)	336)	—)
Derivative assets	149)	169)	109)	216)	183)
Investments	407)	412)	918)	458)	424)
Licensing arrangements	67)	114)	218)	332)	—)
Indemnification asset	172)	—)	—)	—)	—)
Other	270)	224)	166)	144)	210)
Other long-term assets	1,499)	1,409)	1,921)	1,529)	844)
Long-term assets	26,709)	25,912)	24,083)	25,866)	16,996)
Total assets	32,469)	32,229)	30,777)	30,565)	20,999)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Total assets experienced significant growth over the five-year period, increasing from 20,999 million US dollars in 2018 to 32,469 million US dollars by the end of 2022. The most substantial expansion occurred between 2018 and 2019, where total assets grew by approximately 45%. Following this initial surge, the asset base maintained a trajectory of moderate growth, stabilizing above 30,000 million US dollars.

Current Asset Composition and Liquidity: Current assets peaked in 2020 at 6,694 million US dollars before adjusting to 5,760 million US dollars in 2022. This fluctuation was primarily driven by volatility in cash and cash equivalents, which surged from 146 million US dollars in 2018 to a peak of 1,925 million US dollars in 2021, before declining to 928 million US dollars in 2022. A temporary spike in current assets in 2020 was further influenced by the presence of 1,133 million US dollars in assets held for sale, which were not present in other reporting years.; Operational working capital components showed a consistent upward trend. Trade accounts receivable, net, grew from 1,608 million US dollars in 2018 to 1,970 million US dollars in 2022. Similarly, inventories increased from 1,166 million US dollars to 1,867 million US dollars over the same period, suggesting an expansion in operational scale or a strategic increase in safety stock.
Long-Term Asset Expansion and Intangibles: Long-term assets grew from 16,996 million US dollars in 2018 to 26,709 million US dollars in 2022, becoming the dominant component of the balance sheet. This growth is largely attributed to a significant increase in goodwill, which rose from 7,911 million US dollars to 12,920 million US dollars, indicating a sustained strategy of growth through acquisitions.; Other intangible assets, net, remained relatively stable after an initial increase, ending the period at 5,902 million US dollars in 2022 compared to 6,372 million US dollars in 2018. Property, plant, and equipment, net, demonstrated a steady upward trend, increasing from 1,782 million US dollars to 2,446 million US dollars, reflecting ongoing investment in physical infrastructure.
Other Notable Balance Sheet Shifts: A sharp increase in deferred tax assets was observed between 2018 and 2019, rising from 87 million US dollars to 4,196 million US dollars, remaining at an elevated level through 2022. This represents a significant shift in the company's tax asset position.; Restricted cash and restricted cash equivalents showed a consistent downward trend, decreasing from a combined 682 million US dollars in 2018 to 197 million US dollars in 2022, indicating a reduction in constrained liquidity.

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