Varian Medical Systems, Inc. (VAR) financial statements (2020 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)

12/31/2019
TTM
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments722531544716939845915
Cash and cash equivalents722531505716844845849
Short-term investments  39 95 66
Receivables1,0791,1541,034856892771732
Inventory, net of allowances, customer advances and progress billings597552438440640613572
Inventory597552438440640613572
Prepaid expense 58114119   
Advances on inventory purchases 1517    
Disposal group, including discontinued operation  211   
Deposits current assets   11   
Other undisclosed current assets249863937146296275
Total current assets:2,6472,3952,1882,1902,6162,5252,494
Noncurrent Assets
Operating lease, right-of-use asset114 
Property, plant and equipment 312275255379379338
Long-term investments and receivables49   68235123
Long-term investments    6815865
Accounts and financing receivable, after allowance for credit loss49    7759
Intangible assets, net (including goodwill)903913395294399429320
Goodwill612612294223295283241
Intangible assets, net (excluding goodwill)2913011017210514580
Contract with customer, asset, net43 36
Restricted cash and investments17      
Deferred costs     5760
Deferred income tax assets8685
Other noncurrent assets370397293301283413285
Other undisclosed noncurrent assets223 6613971(437)(263)
Total noncurrent assets:1,8041,7061,0649891,2001,076863
TOTAL ASSETS:4,4514,1023,2533,1793,8163,6013,357
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities687708610557614694664
Accounts payable215249190162201203187
Accrued liabilities471460420395413354324
Employee-related liabilities     102121
Taxes payable     3631
Deferred revenue818766
Debt542410 35038015850
Deferred compensation liability     5758
Disposal group, including discontinued operation   3   
Deferred revenue and credits641621490422
Deferred tax liabilities   611
Customer advances and deposits  178171
Contract with customer, liability730
Other undisclosed current liabilities     (202)(174)
Total current liabilities:2,0461,8841,3401,5501,6141,3831,202
Noncurrent Liabilities
Long-term debt and lease obligation94   288338388
Long-term debt, excluding current maturities    288338388
Operating lease, liability94 
Liabilities, other than long-term debt453440324130160248240
Accounts payable and accrued liabilities     22
Deferred tax liabilities, net   4832
Liability for uncertainty in income taxes     4555
Other liabilities453440324130160154152
Other undisclosed noncurrent liabilities     (94)(89)
Total noncurrent liabilities:547440324130448492539
Total liabilities:2,5932,3241,6641,6802,0621,8741,741
Temporary equity, carrying amount    10  
Stockholders' equity
Stockholders' equity attributable to parent1,8471,7681,5841,4951,7411,7121,616
Common stock919191929498101
Additional paid in capital870846778716679682643
Accumulated other comprehensive loss(97)(102)(65)(69)(101)(86)(59)
Retained earnings9839347807561,0691,018931
Stockholders' equity attributable to noncontrolling interest10944415 
Total stockholders' equity:1,8571,7781,5891,4991,7441,7261,616
TOTAL LIABILITIES AND EQUITY:4,4514,1023,2533,1793,8163,6013,357

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

12/31/2019
TTM
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Revenues3,3133,2252,9192,6683,2183,0993,050
Revenue, net2,6683,2183,0993,050
Cost of revenue(1,892)(1,855)(1,646)(1,513)(1,857)(1,816)(1,748)
Cost of goods and services sold(462)  (1,513)(1,857)(1,816)(1,748)
Gross profit:1,4211,3701,2741,1561,3611,2831,302
Operating expenses(1,037)(984)(832)(814)(811)(734)(731)
Operating income:385386442342551549571
Nonoperating income10281714171210
Investment income, nonoperating  1714171411
Foreign currency transaction gain (loss), before tax54   (2)(1)
Interest and debt expense(12)(9)(7)(11)(12)(8)(7)
Other undisclosed income from continuing operations before equity method investments, income taxes      1
Income from continuing operations before equity method investments, income taxes:382406452345556553575
Income (loss) from equity method investments     0(1)
Other undisclosed income from continuing operations before income taxes1415   21
Income from continuing operations before income taxes:396421452345556555575
Income tax expense(119)(129)(302)(88)(154)(143)(171)
Income from continuing operations:277292150257403412404
Loss from discontinued operations   (7)   
Net income:277292150250403412404
Net loss attributable to noncontrolling interest   (1)(0)(1) 
Other undisclosed net income (loss) attributable to parent(0)(0)(0)   0
Net income available to common stockholders, diluted:277292150250402411404

Comprehensive Income ($ in millions)

12/31/2019
TTM
9/30/2019
9/30/2018
9/30/2017
9/30/2016
9/30/2015
9/30/2014
Net income:277292150250403412404
Other comprehensive income (loss)(28)(37)432(14)(28)(19)
Comprehensive income:249255154282388384385
Comprehensive loss, net of tax, attributable to noncontrolling interest(0)(0)(0)(1)(0)(1) 
Other undisclosed comprehensive income, net of tax, attributable to parent      0
Comprehensive income, net of tax, attributable to parent:249255153282388384385

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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