Varian Medical Systems, Inc. (VAR) financial statements (2021 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
Q1
9/30/2020
Q4
6/30/2020
Q3
3/31/2020
Q2
12/31/2019
Q1
9/30/2019
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments773 769668722531
Cash and cash equivalents773 769668722531
Receivables1,029 9871,0051,0791,154
Inventory, net of allowances, customer advances and progress billings572 600604597552
Inventory572 600604597552
Prepaid expense     58
Advances on inventory purchases     15
Other undisclosed current assets267 27522424986
Total current assets:2,641 2,6322,5012,6472,395
Noncurrent Assets
Finance lease, right-of-use asset11 12   
Operating lease, right-of-use asset120 124124114 
Property, plant and equipment   342 312
Long-term investments and receivables99 78 49 
Accounts and financing receivable, after allowance for credit loss99 78 49 
Intangible assets, net (including goodwill)893 873896903913
Goodwill628 607615612612
Intangible assets, net (excluding goodwill)265 266282291301
Contract with customer, asset, net94 72 43 
Restricted cash and investments10 11 17 
Deferred income tax assets65 92948685
Other noncurrent assets461 387387370397
Other undisclosed noncurrent assets133 174 223 
Total noncurrent assets:1,885 1,8231,8431,8041,706
TOTAL ASSETS:4,526 4,4544,3444,4514,102
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities689 633632687708
Accounts payable207 165198215249
Accrued liabilities483 469433471460
Deferred revenue846 778798818766
Debt210 580520542410
Total current liabilities:1,745 1,9911,9502,0461,884
Noncurrent Liabilities
Long-term debt and lease obligation102 10310094 
Operating lease, liability102 10310094 
Liabilities, other than long-term debt432 417423453440
Other liabilities432 417423453440
Total noncurrent liabilities:533 520524547440
Total liabilities:2,278 2,5112,4732,5932,324
Stockholders' equity
Stockholders' equity attributable to parent2,238 1,9341,8611,8471,768
Common stock92 91919191
Additional paid in capital998 901878870846
Accumulated other comprehensive loss(77) (114)(102)(97)(102)
Retained earnings1,226 1,055994983934
Stockholders' equity attributable to noncontrolling interest10 1010109
Total stockholders' equity:2,248 1,9431,8711,8571,778
TOTAL LIABILITIES AND EQUITY:4,526 4,4544,3444,4514,102

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

12/31/2020
Q1
9/30/2020
Q4
6/30/2020
Q3
3/31/2020
Q2
12/31/2019
Q1
9/30/2019
Q4
Revenues779(2,318)694795829879
Cost of revenue(420) (396)(457)(462)(494)
Cost of goods and services sold(420) (396)(457)(462) 
Gross profit:359 299337367385
Operating expenses(242) (239)(282)(257)(274)
Operating income:117 6055110111
Nonoperating income (expense)9 28(1)41
Investment income, nonoperating3 3   
Foreign currency transaction gain (loss), before tax   (1)22
Other nonoperating income (expense)6 2511(1)
Interest and debt expense(1) (3)(4)(5)(5)
Income from continuing operations before equity method investments, income taxes:124 8550110107
Other undisclosed income from continuing operations before income taxes   334
Income from continuing operations before income taxes:124 8553113110
Income tax expense(28) (24)(10)(24)(40)
Net income:97 61438970
Other undisclosed net income (loss) attributable to parent(0) 00(1)0
Net income available to common stockholders, diluted:97 61438871

Comprehensive Income ($ in millions)

12/31/2020
Q1
9/30/2020
Q4
6/30/2020
Q3
3/31/2020
Q2
12/31/2019
Q1
9/30/2019
Q4
Net income:97 61438970
Other comprehensive income (loss)9 (12)(5)5(33)
Comprehensive income:106 49389438
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(0) 00(1)0
Comprehensive income, net of tax, attributable to parent:105 50389338

Statements sources

The financial statements are based on the company's filings with the 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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