Balance Sheet: Assets
Quarterly Data

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 (quarterly data)

US$ in millions

	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Cash and cash equivalents	7,268)	9,792)	3,376)	3,093)	3,268)	3,369)	3,224)	2,460)	2,819)	2,381)	2,695)	3,546)	2,067)	2,617)	2,623)	2,459)	3,819)	3,788)	3,220)	3,002)
Accounts receivable, net of allowances	17,760)	16,107)	14,170)	12,037)	11,006)	10,295)	11,028)	7,886)	9,091)	8,167)	7,516)	7,526)	6,896)	6,715)	6,365)	6,323)	6,673)	5,914)	5,829)	5,593)
Other receivables	2,395)	3,350)	3,035)	1,967)	2,270)	1,757)	2,051)	2,128)	2,246)	2,197)	1,655)	1,496)	1,663)	1,610)	1,308)	1,483)	1,454)	1,111)	1,073)	1,066)
Inventories	13,744)	12,180)	11,014)	9,311)	7,589)	7,460)	6,482)	6,102)	5,773)	4,901)	4,799)	4,545)	4,310)	3,831)	3,899)	3,893)	3,886)	3,907)	3,825)	3,661)
Prepaid expenses	14,315)	20,249)	18,020)	14,654)	8,341)	8,251)	7,138)	6,349)	5,541)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other current assets	147)	393)	239)	200)	266)	284)	283)	265)	259)	5,361)	4,667)	3,699)	3,099)	2,867)	2,921)	2,807)	2,621)	3,088)	3,348)	3,283)
Current assets	55,629)	62,071)	49,854)	41,261)	32,740)	31,415)	30,204)	25,189)	25,727)	23,007)	21,332)	20,811)	18,035)	17,640)	17,115)	16,965)	18,452)	17,808)	17,296)	16,605)
Investments	2,802)	2,808)	3,207)	3,223)	3,216)	3,200)	2,878)	3,087)	3,052)	2,692)	2,745)	2,750)	2,902)	2,575)	2,587)	2,727)	3,213)	3,351)	3,475)	3,232)
Goodwill	5,898)	5,898)	5,771)	5,771)	5,770)	5,768)	5,768)	4,940)	4,940)	4,085)	4,079)	4,073)	4,073)	3,892)	3,892)	3,892)	3,892)	3,884)	3,884)	3,877)
Other intangibles, net	6,521)	6,447)	5,908)	6,012)	6,166)	6,537)	6,636)	6,762)	6,907)	6,782)	6,904)	7,087)	7,207)	7,124)	7,498)	7,482)	7,692)	7,888)	7,985)	8,088)
Deferred tax assets	9,959)	8,963)	9,427)	8,573)	8,001)	7,392)	6,655)	5,634)	5,477)	4,575)	3,806)	3,407)	2,793)	2,384)	2,372)	2,465)	2,489)	2,626)	2,675)	2,650)
Property and equipment, net of accumulated depreciation	24,675)	22,316)	20,530)	18,474)	17,102)	16,172)	14,829)	13,624)	12,914)	11,863)	11,277)	10,546)	10,144)	9,311)	9,128)	9,103)	8,985)	8,920)	8,856)	8,630)
Other noncurrent assets	6,992)	6,432)	6,225)	6,075)	5,720)	5,122)	4,904)	4,708)	4,990)	4,912)	4,672)	4,488)	4,337)	4,536)	4,472)	4,285)	4,083)	3,710)	3,639)	3,756)
Noncurrent assets	56,847)	52,864)	51,069)	48,128)	45,975)	44,192)	41,671)	38,755)	38,279)	34,909)	33,482)	32,352)	31,455)	29,822)	29,948)	29,955)	30,354)	30,379)	30,514)	30,234)
Total assets	112,476)	114,935)	100,923)	89,389)	78,715)	75,607)	71,875)	63,944)	64,006)	57,916)	54,814)	53,163)	49,490)	47,462)	47,064)	46,919)	48,806)	48,187)	47,809)	46,838)

Total assets exhibited a generally increasing trend over the observed period, though with some fluctuations. From March 31, 2021, to December 31, 2021, total assets increased from US$46,838 million to US$48,806 million. A slight decrease was noted in the first half of 2022, followed by a more substantial increase beginning in the latter half of 2023 and continuing through the end of the observed period, reaching US$112,476 million by December 31, 2025. This significant growth appears to be driven by increases in several asset categories, particularly inventories, prepaid expenses, and other noncurrent assets.

Current Assets: Current assets demonstrated a consistent upward trend from US$16,605 million in March 2021 to US$25,727 million in December 2023. This growth slowed in 2024 and 2025, with a peak of US$31,415 million in September 2024, before decreasing to US$23,007 million in December 2025. Accounts receivable, net of allowances, consistently increased throughout the period, rising from US$5,593 million to US$17,760 million by December 2025. Inventories also showed a substantial increase, growing from US$3,661 million in March 2021 to US$13,744 million in December 2025. Prepaid expenses experienced a significant surge beginning in 2023, increasing from US$5,541 million in December 2023 to US$20,249 million in September 2025, before decreasing to US$14,315 million in December 2025. Cash and cash equivalents were more volatile, fluctuating between approximately US$2,000 million and US$3,800 million, with a notable increase to US$9,792 million in September 2025, followed by a decrease to US$7,268 million in December 2025.
Noncurrent Assets: Noncurrent assets also exhibited an overall increasing trend, moving from US$30,234 million in March 2021 to US$56,847 million in December 2025. Goodwill remained relatively stable between approximately US$3,800 million and US$4,100 million until December 2021, then increased to US$5,898 million by December 2025. Other intangibles, net, decreased gradually from US$8,088 million in March 2021 to US$6,521 million in December 2025. Deferred tax assets showed a consistent increase, rising from US$2,650 million to US$9,959 million over the period. Property and equipment, net of accumulated depreciation, increased steadily from US$8,630 million to US$24,675 million. Other noncurrent assets also increased, from US$3,756 million to US$6,992 million.

Investments remained relatively stable throughout the observed period, fluctuating between approximately US$2,500 million and US$3,500 million. The combined effect of these changes in individual asset categories resulted in the overall increase in total assets, with the most significant contributions coming from accounts receivable, inventories, prepaid expenses, and property and equipment.

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Eli Lilly & Co. (NYSE:LLY)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data