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.
Eli Lilly & Co., consolidated balance sheet: assets
US$ in thousands
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).
The financial data demonstrates several noteworthy trends over the five-year period ending December 31, 2024.
- Cash and Cash Equivalents
- There is a fluctuating yet overall upward trend in cash and cash equivalents. The value rose from approximately 3.66 billion to about 3.27 billion, despite a dip in 2022 to around 2.07 billion.
- Short-term Investments
- Short-term investments display growth with minor fluctuations, increasing from 24.2 million in 2020 to 154.8 million in 2024, showing an expansion in liquid investment holdings.
- Accounts Receivable
- Accounts receivable net increases steadily across the period, rising significantly from roughly 5.9 billion to over 11 billion, indicating growing sales or potentially slower collections.
- Other Receivables
- Other receivables also increased gradually, nearly doubling from approximately 1.05 billion to 2.27 billion, supporting the trend of rising claims against others.
- Inventories
- Inventories exhibit strong growth, climbing from nearly 4 billion to approximately 7.6 billion. This rise could reflect inventory buildup possibly in anticipation of increased demand or slower turnover.
- Prepaid Expenses
- Prepaid expenses levels emerged starting 2022 and have grown notably each year, reaching over 8.3 billion in 2024, which may signal increased prepayments for goods or services.
- Other Current Assets
- There is a sharp decline in other current assets over the period, falling from nearly 2.9 billion to just over 100 million by 2024, a significant reduction of this less defined asset class.
- Current Assets
- Total current assets increased substantially, growing from about 17.5 billion to approximately 32.7 billion, largely driven by increases in accounts receivable, inventories, and prepaid expenses.
- Investments
- Investments showed moderate fluctuations but remained relatively stable, with values fluctuating around the 3 billion mark throughout the period.
- Goodwill
- Goodwill increased consistently, reaching 5.77 billion in 2024 from 3.77 billion in 2020, suggesting acquisitions or increased valuation of intangible assets.
- Other Intangibles, Net
- Other intangible assets decreased steadily from 7.45 billion to 6.17 billion, indicating amortization or impairment of these assets over time.
- Deferred Tax Assets
- Deferred tax assets experienced significant growth, more than doubling from about 2.83 billion to 8 billion, which could imply increased timing differences or recognition of tax benefits.
- Property and Equipment, Net
- Net property and equipment values increased markedly from approximately 8.68 billion to 17.1 billion, reflecting ongoing capital investments and asset growth.
- Other Noncurrent Assets
- Other noncurrent assets showed steady growth from 3.48 billion to 5.72 billion, indicating the accumulation of noncurrent asset holdings apart from tangible fixed assets and intangibles.
- Noncurrent Assets
- Aggregate noncurrent assets increased from about 29.17 billion to 45.98 billion, driven by rises in goodwill, deferred tax assets, and property and equipment.
- Total Assets
- Total assets exhibited a strong upward trend, growing from approximately 46.6 billion in 2020 to 78.7 billion in 2024, reflecting overall asset expansion across both current and noncurrent categories.
In summary, the data reveals robust asset growth, particularly in accounts receivable, inventories, property and equipment, and deferred tax assets. Current assets showed substantial increases driven by increases in both receivables and prepaid expenses. The significant expansion of goodwill alongside the decrease in other intangibles hints at strategic acquisitions that have positively affected intangible asset composition. The large reduction in other current assets warrants attention for reclassification or disposal considerations. Overall, the asset base has nearly doubled over the five-year span, indicating significant scale-up in operations or asset acquisitions.