Sorrento Therapeutics, Inc. (SRNE) financial statements (2020 and earlier)

Company profile

Business Address 4955 DIRECTORS PLACE
SAN DIEGO, CA 92121
State of Incorp. DE
Fiscal Year End December 31
SIC 2836 - Biological Products, Except Diagnostic Substances (benchmarking)
More info Complete financial analysis Financial benchmarking

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments23159218413672
Cash and cash equivalents2315920823972
Short-term investments 01197 
Restricted cash and investments1310    
Receivables1542211
Inventory, net of allowances, customer advances and progress billings3     
Inventory3     
Other undisclosed current assets1476441
Total current assets:68180309014174
Noncurrent Assets
Operating lease, right-of-use asset46
Property, plant and equipment3024191372
Long-term investments and receivables252827018917020
Long-term investments252827018917020
Intangible assets, net (including goodwill)1021051091062555
Goodwill383838422124
Intangible assets, net (excluding goodwill)63667165431
Restricted cash and investments4545    
Other noncurrent assets563410
Other undisclosed noncurrent assets237237   (10)
Total noncurrent assets:49044540231220368
TOTAL ASSETS:558624432402344142
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6237221784
Accounts payable281410812
Accrued liabilities19137541
Employee-related liabilities16104422
Deferred revenue4
Debt4010 053
Deferred compensation liability   112
Derivative instruments and hedges, liabilities9     
Business combination, contingent consideration, liability111534812 
Deferred revenue and credits410  
Contract with customer, liability3
Other undisclosed current liabilities    6 
Total current liabilities:1156279763110
Noncurrent Liabilities
Long-term debt and lease obligation25122354749
Long-term debt, excluding current maturities19922354749
Operating lease, liability52
Liabilities, other than long-term debt15812214119216713
Deferred revenue and credits125139118 
Deferred revenue114
Contract with customer, liability116
Deferred compensation liability, classified    01
Deferred rent credit 6
Deferred tax liabilities, net 16534913
Deferred income tax liabilities9
Other liabilities0     
Derivative instruments and hedges, liabilities35     
Other undisclosed noncurrent liabilities 9    
Total noncurrent liabilities:41035514623917222
Total liabilities:52541722531520332
Stockholders' equity
Stockholders' equity attributable to parent7920920080145109
Common stock000000
Treasury stock, value(49)(49)(49)(49)  
Additional paid in capital788627414304185176
Accumulated other comprehensive income (loss)(0)00(0)74 
Accumulated deficit(660)(368)(165)(174)(113)(68)
Stockholders' equity attributable to noncontrolling interest(46)(2)76(4) 
Total stockholders' equity:3320820787141109
Other undisclosed liabilities and equity     1
TOTAL LIABILITIES AND EQUITY:558624432402344142

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues3121152854
Revenue, net152854
Cost of revenue(80)(7)(4)(1)(2)(2)
Gross profit:(49)14148732
Operating expenses(210)(75)(64)(69)(47)(37)
Other undisclosed operating income (loss) (90)(58)(35)(30)1
Operating income (loss):(259)(150)25(97)(74)(35)
Nonoperating income (expense)1(0)(1)100
Investment income, nonoperating11(0)100
Foreign currency transaction loss, before tax(0)(1)(0)   
Interest and debt expense(64)(66)(9)(2)(2)(2)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(37)3    
Income (loss) from continuing operations before equity method investments, income taxes:(360)(214)15(98)(76)(36)
Income (loss) from equity method investments(4)(5) 0(4) 
Other undisclosed income (loss) from continuing operations before income taxes  (0)3366 
Income (loss) from continuing operations before income taxes:(363)(219)15(65)(14)(36)
Income tax expense (benefit)06361(36)2
Income (loss) before gain (loss) on sale of properties:(363)(213)51(64)(50)(35)
Other undisclosed net loss  (40)   
Net income (loss):(363)(213)11(64)(50)(35)
Net income (loss) attributable to noncontrolling interest719(2)34 
Net income (loss) attributable to parent:(292)(204)9(61)(46)(35)
Other undisclosed net loss available to common stockholders, basic  (0)   
Net income (loss) available to common stockholders, basic:(292)(204)9(61)(46)(35)
Other undisclosed net loss available to common stockholders, diluted(39)     
Net income (loss) available to common stockholders, diluted:(331)(204)9(61)(46)(35)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):(363)(213)11(64)(50)(35)
Other undisclosed comprehensive income (loss)(0)(0)0(71)78 
Comprehensive income (loss):(363)(213)11(135)28(35)
Comprehensive income, net of tax, attributable to noncontrolling interest719234 
Other undisclosed comprehensive loss, net of tax, attributable to parent  (4)(3)(4) 
Comprehensive income (loss), net of tax, attributable to parent:(292)(204)9(135)28(35)

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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