Varian Medical Systems, Inc. (VAR) Financial Statements (2024 and earlier)

Company Profile

Business Address 3100 HANSEN WAY
PALO ALTO, CA 94304-1038
State of Incorp. DE
Fiscal Year End September 30
Industry (SIC) 3845 - Electromedical and Electrotherapeutic Apparatus (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments531544716939845915
Cash and cash equivalents531505716844845849
Short-term investments 39 95 66
Receivables1,1541,034856892771732
Inventory, net of allowances, customer advances and progress billings552438440640613572
Inventory552438440640613572
Prepaid expense58114119   
Advances on inventory purchases1517    
Disposal group, including discontinued operation  211   
Deposits current assets   11   
Other undisclosed current assets863937146296275
Total current assets:2,3952,1882,1902,6162,5252,494
Noncurrent Assets
Operating lease, right-of-use asset ✕✕✕✕✕
Property, plant and equipment 312275255379379338
Long-term investments and receivables    68235123
Long-term investments    6815865
Accounts and financing receivable, after allowance for credit loss     7759
Intangible assets, net (including goodwill)913395294399429320
Goodwill612294223295283241
Intangible assets, net (excluding goodwill)3011017210514580
Contract with customer, asset, after allowance for credit loss  36✕✕✕✕
Deferred costs     5760
Deferred income tax assets85✕✕✕✕✕
Other noncurrent assets397293301283413285
Other undisclosed noncurrent assets 6613971(437)(263)
Total noncurrent assets:1,7061,0649891,2001,076863
TOTAL ASSETS:4,1023,2533,1793,8163,6013,357
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities708610557614694664
Taxes payable     3631
Employee-related liabilities     102121
Accounts payable249190162201203187
Accrued liabilities460420395413354324
Deferred revenue766✕✕✕✕✕
Debt410 35038015850
Deferred compensation liability     5758
Disposal group, including discontinued operation   3   
Deferred revenue and credits✕✕✕641621490422
Deferred tax liabilities✕✕   611
Customer advances and deposits✕✕✕  178171
Contract with customer, liability✕✕730✕✕✕✕
Other undisclosed current liabilities     (202)(174)
Total current liabilities:1,8841,3401,5501,6141,3831,202
Noncurrent Liabilities
Long-term debt and lease obligation   288338388
Long-term debt, excluding current maturities    288338388
Liabilities, other than long-term debt440324130160248240
Accounts payable and accrued liabilities     22
Deferred tax liabilities, net✕✕   4832
Liability for uncertainty in income taxes     4555
Other liabilities440324130160154152
Operating lease, liability ✕✕✕✕✕
Other undisclosed noncurrent liabilities     (94)(89)
Total noncurrent liabilities:440324130448492539
Total liabilities:2,3241,6641,6802,0621,8741,741
Temporary equity, carrying amount    10  
Equity
Equity, attributable to parent1,7681,5841,4951,7411,7121,616
Common stock9191929498101
Additional paid in capital846778716679682643
Accumulated other comprehensive loss(102)(65)(69)(101)(86)(59)
Retained earnings9347807561,0691,018931
Equity, attributable to noncontrolling interest944415 
Total equity:1,7781,5891,4991,7441,7261,616
TOTAL LIABILITIES AND EQUITY:4,1023,2533,1793,8163,6013,357

Income Statement (P&L) ($ in millions)
Annual | Quarterly

9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Revenues3,2252,9192,6683,2183,0993,050
Revenue, net✕✕✕2,6683,2183,0993,050
Cost of revenue(1,855)(1,646)(1,513)(1,857)(1,816)(1,748)
Cost of goods and services sold   (1,513)(1,857)(1,816)(1,748)
Gross profit:1,3701,2741,1561,3611,2831,302
Operating expenses(984)(832)(814)(811)(734)(731)
Operating income:386442342551549571
Nonoperating income281714171210
Investment income, nonoperating 1714171411
Gain (loss), foreign currency transaction, before tax 4   (2)(1)
Other nonoperating income0     
Interest and debt expense(9)(7)(11)(12)(8)(7)
Other undisclosed income from continuing operations before equity method investments, income taxes      1
Income from continuing operations before equity method investments, income taxes:406452345556553575
Income (loss) from equity method investments     0(1)
Other undisclosed income from continuing operations before income taxes15   21
Income from continuing operations before income taxes:421452345556555575
Income tax expense(129)(302)(88)(154)(143)(171)
Income from continuing operations:292150257403412404
Income before gain (loss) on sale of properties:292150250403412404
Loss from discontinued operations   (7)   
Net income:292150250403412404
Net loss attributable to noncontrolling interest  (1)(0)(1) 
Other undisclosed net income (loss) attributable to parent (0)(0)   0
Net income available to common stockholders, diluted:292150250402411404

Comprehensive Income ($ in millions)
Annual | Quarterly

9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Net income:292150250403412404
Other comprehensive income (loss)(37)432(14)(28)(19)
Comprehensive income:255154282388384385
Comprehensive loss, net of tax, attributable to noncontrolling interest(0)(0)(1)(0)(1) 
Other undisclosed comprehensive income, net of tax, attributable to parent      0
Comprehensive income, net of tax, attributable to parent:255153282388384385

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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