Varex Imaging Corporation (VREX) Financial Statements (2024 and earlier)

Company Profile

Business Address 1678 S. PIONEER ROAD
SALT LAKE CITY, UT 84104
State of Incorp. DE
Fiscal Year End September 30
Industry (SIC) 3679 - Electronic Components, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

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

9/30/2023
12/31/2022
MRQ
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments81,50089,400144,600100,60029,90051,900
Cash and cash equivalents81,50089,400144,600100,60029,90051,900
Receivables157,900173,300155,300123,800141,000154,000
Inventory, net of allowances, customer advances and progress billings320,300303,200224,800271,900248,200235,100
Inventory320,300303,200224,800271,900248,200235,100
Other undisclosed current assets47,60044,00029,50025,70019,30017,100
Total current assets:607,300609,900554,200522,000438,400458,100
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization300300500500 
Operating lease, right-of-use asset22,10023,20024,30027,700 
Property, plant and equipment     142,300144,900
Long-term investments and receivables47,80046,40049,30051,30053,60051,000
Long-term investments47,80046,40049,30051,30053,60051,000
Intangible assets, net (including goodwill)319,900318,100342,900360,600377,100317,400
Goodwill288,200284,500292,200293,100290,800243,600
Intangible assets, net (excluding goodwill)31,70033,60050,70067,50086,30073,800
Deferred costs  5,400    
Deferred income tax assets1,9002,3004,000500 
Other noncurrent assets39,00043,20032,60032,20027,50016,500
Other undisclosed noncurrent assets142,600135,600139,700144,700  
Total noncurrent assets:573,600574,500593,300617,500600,500529,800
TOTAL ASSETS:1,180,9001,184,4001,147,5001,139,5001,038,900987,900
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities142,200220,100148,500143,400133,900113,800
Interest and dividends payable11,700    
Taxes payable11,300    
Employee-related liabilities37,500    
Accounts payable86,20078,20058,80072,90058,20066,300
Accrued liabilities56,00081,40089,70070,50075,70047,500
Deferred revenue9,2007,4009,1008,60010,500
Debt2,3002,1003,0002,70030,70025,000
Other undisclosed current liabilities3,700(56,500)6,0005,900 13,200
Total current liabilities:157,400173,100166,600160,600175,100152,000
Noncurrent Liabilities
Long-term debt and lease obligation440,800430,300450,400475,900364,400364,800
Long-term debt, excluding current maturities440,800412,300431,700452,800364,400364,800
Liabilities, other than long-term debt57,70034,30034,00037,20040,7008,500
Deferred income tax liabilities  5002,2002,3008,200
Other liabilities39,80033,80031,80034,90032,5008,500
Operating lease, liability17,90018,00018,70023,100 
Other undisclosed noncurrent liabilities      23,200
Total noncurrent liabilities:498,500464,600484,400513,100405,100396,500
Total liabilities:655,900637,700651,000673,700580,200548,500
Temporary equity, carrying amount     10,50011,100
Equity
Equity, attributable to parent, including:511,700533,400483,300451,700444,900426,200
Common stock  400400400400400
Additional paid in capital437,900469,100449,400434,400371,800357,600
Accumulated other comprehensive income (loss)100100 800(1,700)5,800
Retained earnings73,30063,80033,50016,10074,40062,400
Other undisclosed equity, attributable to parent400     
Equity, attributable to noncontrolling interest13,30013,30013,20014,1003,3002,100
Total equity:525,000546,700496,500465,800448,200428,300
TOTAL LIABILITIES AND EQUITY:1,180,9001,184,4001,147,5001,139,5001,038,900987,900

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

9/30/2023
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Revenues866,200859,400818,100738,300780,600773,400
Cost of revenue(584,200)(575,900)(546,600)(548,100)(523,900)(519,500)
Cost of goods and services sold(427,300)(6,400)(3,500)(18,100)(3,100)(3,100)
Gross profit:282,000283,500271,500190,200256,700253,900
Operating expenses(194,800)(195,300)(197,400)(223,900)(211,000)(209,400)
Operating income (loss):87,20088,20074,100(33,700)45,70044,500
Nonoperating expense(40,600)(43,700)(45,500)(38,900)(24,200)(18,800)
Other nonoperating income (expense)(4,100)(4,300)(3,500)(7,600)(3,200)2,700
Interest and debt expense(37,400)(39,800)(42,100)(31,400)(21,100)(21,700)
Income (loss) from continuing operations before equity method investments, income taxes:9,2004,700(13,500)(104,000)4004,000
Other undisclosed income from continuing operations before income taxes37,40039,80042,10031,40021,10021,700
Income (loss) from continuing operations before income taxes:46,60044,50028,600(72,600)21,50025,700
Income tax expense (benefit)(14,200)(13,700)(10,700)15,200(5,700)2,600
Income (loss) from continuing operations:32,40030,80017,900(57,400)15,80028,300
Income (loss) before gain (loss) on sale of properties:29,20030,80017,900(57,400)15,80028,300
Net income (loss):32,40030,80017,900(57,400)15,80028,300
Net loss attributable to noncontrolling interest(400)(500)(500)(500)(300)(800)
Net income (loss) available to common stockholders, diluted:32,00030,30017,400(57,900)15,50027,500

Comprehensive Income ($ in thousands)

9/30/2023
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Net income (loss):32,40030,80017,900(57,400)15,80028,300
Other comprehensive income (loss) (800)(800)2,500(7,500)5,000
Other undisclosed comprehensive income (loss)600900    
Comprehensive income (loss):33,00030,90017,100(54,900)8,30033,300
Comprehensive loss, net of tax, attributable to noncontrolling interest(400)(500)(500)(500)(300)(800)
Comprehensive income (loss), net of tax, attributable to parent:32,60030,40016,600(55,400)8,00032,500

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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