Edwards Lifesciences Corporation (EW) Financial Statements (2024 and earlier)

Company Profile

Business Address ONE EDWARDS WAY
IRVINE, CA 92614
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3842 - Orthopedic, Prosthetic, and Surgical Appliances and Supplies (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,6451,2151,4671,4031,517957
Cash and cash equivalents1,1447698631,1831,179714
Short-term investments501446604219338242
Restricted cash and investments 31217  
Receivables775643582515544457
Inventory, net of allowances, customer advances and progress billings1,168876727802641607
Inventory1,168876727802641607
Prepaid expense14711085755954
Other current assets239196237208168132
Other undisclosed current assets 595681725680
Total current assets:4,0363,0963,1813,0912,9842,287
Noncurrent Assets
Operating lease, right-of-use asset9492929480
Property, plant and equipment1,7491,6331,5471,3951,060868
Long-term investments and receivables5841,2391,834802586506
Long-term investments5841,2391,834802586506
Intangible assets, net (including goodwill)1,6821,4501,4921,5051,5041,455
Goodwill1,2541,1641,1681,1731,1681,112
Intangible assets, net (excluding goodwill)428285324331337343
Deferred income tax assets755484247231172
Other noncurrent assets46429911112010234
Other undisclosed noncurrent assets      174
Total noncurrent assets:5,3285,1975,3224,1463,5043,037
TOTAL ASSETS:9,3638,2938,5037,2376,4885,324
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities756625674562647496
Taxes payable31195331
Employee-related liabilities320237296226
Accounts payable201202205197180134
Accrued liabilities554424120110117104
Debt     26 
Derivative instruments and hedges, liabilities152143964
Restructuring reserve12161915170
Estimated litigation liability6953 3820197
Other undisclosed current liabilities343307335241187180
Total current liabilities:1,1951,0221,032894902877
Noncurrent Liabilities
Long-term debt and lease obligation597596665668653594
Long-term debt, excluding current maturities597596596595594594
Liabilities, other than long-term debt771724780886548454
Liability for uncertainty in income taxes339268259214172125
Estimated litigation liability94143191233  
Other liabilities264218267252203150
Operating lease, liability7370697359
Business combination, contingent consideration, liability  2662186173179
Other undisclosed noncurrent liabilities81143190   
Total noncurrent liabilities:1,4481,4631,6341,5541,2011,047
Total liabilities:2,6442,4862,6672,4482,1031,924
Equity
Equity, attributable to parent6,6505,8075,8364,5744,1483,140
Common stock651646642636218215
Treasury stock, value(5,025)(4,144)(2,417)(1,904)(1,279)(1,015)
Additional paid in capital2,2741,9691,7001,4381,6231,384
Accumulated other comprehensive loss(243)(255)(158)(161)(156)(139)
Retained earnings8,9927,5906,0684,5653,7422,695
Equity, attributable to noncontrolling interest69     
Total equity:6,7195,8075,8364,5744,1483,140
Other undisclosed liabilities and equity    215237259
TOTAL LIABILITIES AND EQUITY:9,3638,2938,5037,2376,4885,324

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues6,0055,3825,2334,3864,3483,723
Cost of revenue
(Cost of Goods and Services Sold)
(1,380)(1,080)(1,249)(1,081)(1,114)(939)
Gross profit:4,6254,3023,9843,3063,2342,783
Operating expenses(2,896)(2,529)(2,417)(2,395)(2,028)(1,925)
Other operating expense, net
(Other Nonrecurring (Income) Expense)
(17)(61)  (65)(116)
Other undisclosed operating income (loss)(177)36124(14)66
Operating income:1,5341,7491,6908981,147748
Nonoperating income823830354036
Investment income, nonoperating673617233232
Other nonoperating income143131284
Interest and debt expense (18)(19)(18)(16)(21)(30)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes     7
Income from continuing operations before equity method investments, income taxes:1,5981,7671,7029171,167761
Other undisclosed income from continuing operations before income taxes      
Income from continuing operations before income taxes:1,5981,7671,7029171,167761
Income tax expense(199)(246)(199)(93)(120)(39)
Income from continuing operations:1,3991,5221,5038231,047722
Income before gain (loss) on sale of properties:1,5038231,047722
Net income:1,3991,5221,5038231,047722
Net income attributable to noncontrolling interest3     
Net income available to common stockholders, diluted:1,4021,5221,5038231,047722

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:1,3991,5221,5038231,047722
Other comprehensive income (loss)12    (16)
Comprehensive income:1,4121,5221,5038231,047706
Comprehensive income, net of tax, attributable to noncontrolling interest3     
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  (97)3(5)(18)18
Comprehensive income, net of tax, attributable to parent:1,4151,4251,5078181,029724

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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