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
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments773 531544716939
Cash and cash equivalents773 531505716844
Short-term investments   39 95
Receivables1,029 1,1541,034856892
Inventory, net of allowances, customer advances and progress billings572 552438440640
Inventory572 552438440640
Prepaid expense  58114119 
Advances on inventory purchases  1517  
Disposal group, including discontinued operation   211 
Deposits current assets    11 
Other undisclosed current assets267 863937146
Total current assets:2,641 2,3952,1882,1902,616
Noncurrent Assets
Finance lease, right-of-use asset11  
Operating lease, right-of-use asset120  
Property, plant and equipment  312275255379
Long-term investments and receivables99    68
Long-term investments     68
Accounts and financing receivable, after allowance for credit loss99     
Intangible assets, net (including goodwill)893 913395294399
Goodwill628 612294223295
Intangible assets, net (excluding goodwill)265 30110172105
Contract with customer, asset, net94  36
Restricted cash and investments10     
Deferred income tax assets65 85
Other noncurrent assets461 397293301283
Other undisclosed noncurrent assets133  6613971
Total noncurrent assets:1,885 1,7061,0649891,200
TOTAL ASSETS:4,526 4,1023,2533,1793,816
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities689 708610557614
Accounts payable207 249190162201
Accrued liabilities483 460420395413
Deferred revenue846 766
Debt210 410 350380
Disposal group, including discontinued operation    3 
Deferred revenue and credits641621
Contract with customer, liability730
Total current liabilities:1,745 1,8841,3401,5501,614
Noncurrent Liabilities
Long-term debt and lease obligation102    288
Long-term debt, excluding current maturities     288
Operating lease, liability102  
Liabilities, other than long-term debt432 440324130160
Other liabilities432 440324130160
Total noncurrent liabilities:533 440324130448
Total liabilities:2,278 2,3241,6641,6802,062
Temporary equity, carrying amount     10
Stockholders' equity
Stockholders' equity attributable to parent2,238 1,7681,5841,4951,741
Common stock92 91919294
Additional paid in capital998 846778716679
Accumulated other comprehensive loss(77) (102)(65)(69)(101)
Retained earnings1,226 9347807561,069
Stockholders' equity attributable to noncontrolling interest10 9444
Total stockholders' equity:2,248 1,7781,5891,4991,744
TOTAL LIABILITIES AND EQUITY:4,526 4,1023,2533,1793,816

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

12/31/2020
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
Revenues6 3,2252,9192,6683,218
Revenue, net2,6683,218
Operating lease, lease income7 9
Cost of revenue(1,291) (1,855)(1,646)(1,513)(1,857)
Cost of goods and services sold(816)   (1,513)(1,857)
Gross profit:1,032 1,3701,2741,1561,361
Operating expenses(757) (984)(832)(814)(811)
Operating income:276 386442342551
Nonoperating income38 28171417
Investment income, nonoperating6  171417
Other nonoperating income31 0   
Interest and debt expense(6) (9)(7)(11)(12)
Income from continuing operations before equity method investments, income taxes:307 406452345556
Other undisclosed income from continuing operations before income taxes10 15   
Income from continuing operations before income taxes:317 421452345556
Income tax expense(83) (129)(302)(88)(154)
Income from continuing operations:234 292150257403
Loss from discontinued operations    (7) 
Net income:234 292150250403
Net loss attributable to noncontrolling interest    (1)(0)
Other undisclosed net income (loss) attributable to parent0 (0)(0)  
Net income available to common stockholders, diluted:234 292150250402

Comprehensive Income ($ in millions)

12/31/2020
TTM
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
Net income:234 292150250403
Other comprehensive income (loss)25 (37)432(14)
Comprehensive income:259 255154282388
Comprehensive income (loss), net of tax, attributable to noncontrolling interest0 (0)(0)(1)(0)
Comprehensive income, net of tax, attributable to parent:259 255153282388

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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