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.

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Edwards Lifesciences Corp., consolidated balance sheet: assets

US$ in thousands

		Dec 31, 2021		Dec 31, 2020		Dec 31, 2019		Dec 31, 2018		Dec 31, 2017
	Cash and cash equivalents
	Short-term investments
	Accounts receivable, net of allowances
	Other receivables
	Inventories
	Prepaid expenses
	Other current assets
	Current assets
	Long-term investments
	Property, plant, and equipment, net
	Operating lease right-of-use assets
	Goodwill
	Other intangible assets, net
	Deferred income taxes
	Other assets
	Long-term assets
	Total assets

Based on: 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), 10-K (reporting date: 2017-12-31).

The examined financial data reveals several notable trends and patterns in the composition and scale of assets over a five-year period.

Cash and Cash Equivalents: This category experienced some volatility. After a decline from approximately 818 million to 714 million in the second year, it surged significantly to nearly 1.18 billion by the end of 2019 and 2020, before decreasing again to approximately 863 million in 2021.
Short-term Investments: Short-term investments showed fluctuations, dropping sharply in 2018 from 519 million to 242 million, modestly recovering in 2019, then declining again in 2020 before more than doubling to over 600 million in 2021.
Receivables: Accounts receivable, net of allowances, displayed an upward trend overall, rising from about 422 million in 2017 to over 582 million by 2021. Other receivables were more variable but generally increased between 2017 and 2020, peaking at 88 million, then slightly decreased in the latest period.
Inventories: Inventories increased steadily from 555 million in 2017 to a peak of over 802 million in 2020, before declining somewhat to 727 million in 2021, indicating some fluctuation in inventory management or product demand.
Prepaid Expenses and Other Current Assets: Prepaid expenses showed a modest increase across the period, from approximately 61 million to 85 million, suggesting growing prepaid commitments. Other current assets rose consistently, nearly doubling from 117 million in 2017 to 237 million in 2021, reflecting likely accumulation of miscellaneous short-term resources.
Current Assets: Overall current assets contracted slightly from 2.53 billion in 2017 to 2.29 billion in 2018, then expanded significantly, reaching over 3.18 billion by 2021, indicating strengthening liquidity and short-term asset holdings.
Long-term Investments: There was a pronounced upward trajectory in long-term investments, with a decrease from 567 million to around 506 million in 2018, followed by continuous increases to a substantial 1.83 billion in 2021, implying a strategic shift towards long-term asset accumulation.
Property, Plant, and Equipment (PP&E), Net: PP&E demonstrated strong growth, increasing from nearly 680 million in 2017 to over 1.54 billion by 2021, indicating considerable capital expenditures and investment in fixed assets.
Operating Lease Right-of-Use Assets: This new category appears from 2019 onwards, starting at 80 million and slightly increasing thereafter, reflecting recognition of lease assets consistent with updated accounting standards.
Goodwill and Intangible Assets: Goodwill remained relatively stable around 1.12 to 1.17 billion, suggesting no major acquisitions or impairments materially affected this balance. Other intangible assets showed a steady decline from 468 million to approximately 324 million over the five years, indicating amortization or disposals.
Deferred Income Taxes: Deferred income taxes fluctuated mildly, declining initially but growing to a peak near 247 million in 2021, in alignment with overall asset growth and tax position changes.
Other Assets: This category was volatile, dropping sharply in 2018, then increasing and stabilizing in subsequent years, fluctuating in the range of 33 million to 119 million.
Long-term Assets and Total Assets: Long-term assets showed continual expansion, rising from over 3.16 billion in 2017 to more than 5.32 billion in 2021, driven primarily by significant growth in investments and fixed assets. Total assets followed the same pattern, increasing from approximately 5.70 billion to 8.50 billion, reflecting broader asset base expansion and enhanced capacity for operations or investments.

In summary, the data exhibits a general pattern of growth in the total asset base, marked by substantial increases in long-term investments and property, plant, and equipment. Current assets also grew, albeit with more variability. Operationally, the company appears to be investing heavily in fixed and long-term assets while managing increasing accounts receivable and inventories. The introduction and growth of lease assets highlight compliance with modern accounting practices. Overall, the asset trends suggest a strategic emphasis on expanding capacity, liquidity management, and long-term investment.

Assets: Selected Items

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Current Assets: Selected Items