Edwards Lifesciences Corporation (EW) financial statements (2020 and earlier)
Company profile
| Business Address |
ONE EDWARDS WAY IRVINE, CA 92614 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| 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)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,357 | 957 | 1,338 | 1,271 | 1,225 | 1,439 | 937 | ||
| Cash and cash equivalents | 1,187 | 714 | 818 | 930 | 718 | 654 | 420 | ||
| Short-term investments | 170 | 242 | 519 | 341 | 506 | 785 | 517 | ||
| Receivables | (9) | 457 | 422 | 366 | 315 | 288 | 303 | ||
| Inventory, net of allowances, customer advances and progress billings | 611 | 607 | 555 | 397 | 340 | 297 | 309 | ||
| Inventory | 611 | 607 | 555 | 397 | 340 | 297 | 309 | ||
| Prepaid expense | 57 | 54 | 61 | 46 | 45 | 49 | 47 | ||
| Deferred tax assets | ✕ | 64 | 33 | ||||||
| Other current assets | 144 | 132 | 117 | 112 | 94 | 122 | 72 | ||
| Other undisclosed current assets | 579 | 80 | 41 | 49 | 29 | 37 | 26 | ||
| Total current assets: | 2,740 | 2,287 | 2,532 | 2,240 | 2,048 | 2,295 | 1,726 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 73 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 974 | 868 | 680 | 580 | 483 | 443 | 422 | ||
| Long-term investments and receivables | 386 | 506 | 567 | 532 | 384 | 247 | 29 | ||
| Long-term investments | 386 | 506 | 567 | 532 | 380 | 241 | 22 | ||
| Accounts and financing receivable, after allowance for credit loss | 4 | 6 | 7 | ||||||
| Intangible assets, net (including goodwill) | 1,538 | 1,455 | 1,595 | 831 | 834 | 399 | 443 | ||
| Goodwill | 1,157 | 1,112 | 1,127 | 626 | 628 | 376 | 385 | ||
| Intangible assets, net (excluding goodwill) | 381 | 343 | 468 | 205 | 205 | 23 | 57 | ||
| Deferred income tax assets | 156 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other noncurrent assets | 100 | 34 | 109 | 123 | 131 | 49 | 35 | ||
| Deferred tax assets, net | ✕ | 204 | 181 | 92 | 70 | ||||
| Other undisclosed noncurrent assets | 174 | 214 | |||||||
| Total noncurrent assets: | 3,227 | 3,037 | 3,164 | 2,270 | 2,011 | 1,230 | 999 | ||
| TOTAL ASSETS: | 5,966 | 5,324 | 5,696 | 4,510 | 4,059 | 3,524 | 2,725 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 752 | 496 | 562 | 410 | 141 | 140 | 56 | ||
| Accounts payable | 136 | 134 | 117 | 97 | 64 | 58 | 48 | ||
| Accrued liabilities | 96 | 104 | 98 | 91 | 63 | 73 | |||
| Employee-related liabilities | 262 | 226 | 249 | 216 | |||||
| Taxes payable | 19 | 31 | 98 | 6 | 15 | 9 | 7 | ||
| Other undisclosed accounts payable and accrued liabilities | 239 | ||||||||
| Debt | 24 | 598 | |||||||
| Derivative instruments and hedges, liabilities | 4 | 25 | 3 | 4 | 3 | 17 | |||
| Restructuring reserve | 0 | 8 | 19 | 8 | ✕ | ||||
| Estimated litigation liability | 197 | 15 | 8 | 6 | 4 | 2 | |||
| Business combination, contingent consideration, liability | 52 | ✕ | |||||||
| Deferred tax liabilities | ✕ | 8 | 7 | ||||||
| Other undisclosed current liabilities | 180 | 144 | 111 | 306 | 272 | 264 | |||
| Total current liabilities: | 776 | 877 | 1,403 | 533 | 476 | 434 | 346 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 647 | 594 | 438 | 822 | 600 | 598 | 593 | ||
| Long-term debt, excluding current maturities | 594 | 594 | 438 | 822 | 600 | 598 | 593 | ||
| Operating lease, liability | 52 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Liabilities, other than long-term debt | 493 | 454 | 504 | 536 | 480 | 300 | 227 | ||
| Liability for uncertainty in income taxes | 142 | 125 | 165 | 230 | 195 | 195 | 126 | ||
| Other liabilities | 160 | 150 | 147 | 306 | 285 | 106 | 100 | ||
| Business combination, contingent consideration, liability | 191 | 179 | 193 | ✕ | |||||
| Total noncurrent liabilities: | 1,139 | 1,047 | 943 | 1,359 | 1,080 | 899 | 820 | ||
| Total liabilities: | 1,915 | 1,924 | 2,346 | 1,891 | 1,556 | 1,333 | 1,166 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 3,815 | 3,140 | 2,956 | 2,619 | 2,503 | 2,191 | 1,559 | ||
| Common stock | 218 | 215 | 212 | 243 | 239 | 129 | 126 | ||
| Treasury stock, value | (1,279) | (1,015) | (252) | (2,499) | (1,837) | (1,557) | (1,256) | ||
| Additional paid in capital | 1,570 | 1,384 | 1,167 | 1,168 | 947 | 878 | 671 | ||
| Accumulated other comprehensive loss | (156) | (139) | (133) | (198) | (183) | (101) | (28) | ||
| Retained earnings | 3,461 | 2,695 | 1,962 | 3,906 | 3,337 | 2,842 | 2,046 | ||
| Total stockholders' equity: | 3,815 | 3,140 | 2,956 | 2,619 | 2,503 | 2,191 | 1,559 | ||
| Other undisclosed liabilities and equity | 237 | 259 | 394 | ||||||
| TOTAL LIABILITIES AND EQUITY: | 5,966 | 5,324 | 5,696 | 4,510 | 4,059 | 3,524 | 2,725 | ||
Income statement (P&L) ($ in millions)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 4,152 | 3,723 | 3,435 | 2,964 | 2,494 | 2,323 | 2,046 | |
| Revenue, net | ✕ | ✕ | 3,435 | 2,964 | 2,494 | 2,323 | 2,046 | |
| Cost of revenue | (1,063) | (939) | (875) | (797) | (617) | (630) | (522) | |
| Cost of goods and services sold | (1,063) | (939) | (875) | (797) | (617) | (626) | (522) | |
| Other undisclosed gross profit | 4 | |||||||
| Gross profit: | 3,089 | 2,783 | 2,560 | 2,166 | 1,877 | 1,697 | 1,523 | |
| Operating expenses | (2,119) | (1,925) | (1,464) | (1,381) | (1,234) | (1,209) | (1,033) | |
| Other operating income (expense), net (Other Nonrecurring (Income) Expense) | (140) | (116) | (60) | (35) | (71) | 67 | ||
| Other undisclosed operating income | 2 | 6 | ||||||
| Operating income: | 831 | 748 | 1,036 | 751 | 643 | 417 | 557 | |
| Nonoperating income | 42 | 36 | 12 | 6 | 3 | 3 | 3 | |
| Investment income, nonoperating | 32 | 20 | 11 | 8 | 6 | 5 | ||
| Loss on contract termination | (1) | |||||||
| Foreign currency transaction loss, before tax | (5) | (2) | (2) | |||||
| Other nonoperating income (expense) | 8 | 4 | (8) | (5) | ||||
| Interest and debt expense | (30) | (23) | (19) | (17) | (17) | (10) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (23) | 7 | 10 | (6) | 740 | (35) | ||
| Income from continuing operations before income taxes: | 849 | 761 | 1,035 | 738 | 622 | 1,144 | 515 | |
| Income tax expense | (76) | (39) | (451) | (168) | (128) | (333) | (124) | |
| Net income available to common stockholders, diluted: | 774 | 722 | 584 | 570 | 495 | 811 | 392 | |
Comprehensive Income ($ in millions)
| 9/30/2019 TTM | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 774 | 722 | 584 | 570 | 495 | 811 | 392 | |
| Other comprehensive income (loss) | (0) | (16) | 32 | (6) | ||||
| Comprehensive income: | 774 | 706 | 616 | 570 | 495 | 806 | 392 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (9) | 18 | 34 | (16) | (82) | (68) | 10 | |
| Comprehensive income, net of tax, attributable to parent: | 765 | 724 | 649 | 554 | 413 | 738 | 402 | |
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.