Vertex Pharmaceuticals Incorporated (VRTX) Financial Statements (2024 and earlier)

Company Profile

Business Address 50 NORTHERN AVENUE
BOSTON, MA 02210
State of Incorp. MA
Fiscal Year End December 31
Industry (SIC) 2834 - Pharmaceutical Preparations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments10,8957,7566,8553,8082,6502,089
Cash and cash equivalents10,5046,7955,9883,1092,6501,665
Short-term investments391961866699 423
Restricted cash and investments    8 1
Receivables1,4421,137885634410281
Inventory, net of allowances, customer advances and progress billings461353281168124112
Inventory461353281168124112
Prepaid expense112   7462
Other current assets74187  6274
Other undisclosed current assets25112811320652329
Total current assets:13,2359,5618,1334,8233,8432,649
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization316400431445✕✕
Operating lease, right-of-use asset34733032688✕✕
Property, plant and equipment40   812789
Long-term investments and receivables     20
Long-term investments     20
Intangible assets, net (including goodwill)1,6921,4021,4021,4025079
Goodwill1,0881,0021,0021,0025050
Intangible assets, net (excluding goodwill)604400400400 29
Restricted cash and investments    3  
Deferred income tax assets1,2479358831,191✕✕
Other noncurrent assets52211149158418
Other undisclosed noncurrent assets7536945272081,500 
Total noncurrent assets:4,9163,8723,6183,4962,403897
TOTAL ASSETS:18,15113,43311,7528,3186,2463,546
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,4311,8741,5601,205715518
Accounts payable3041951558811174
Accrued liabilities2,1271,6791,4051,117604444
Debt     1023
Restructuring reserve      2
Deferred revenue and credits✕✕✕✕✕✕5
Customer advances and deposits✕✕✕✕✕✕232
Other liabilities3122683171304127
Other undisclosed current liabilities     354 
Total current liabilities:2,7422,1421,8781,3351,120807
Noncurrent Liabilities
Long-term debt and lease obligation4318878905392020
Capital lease obligations✕✕✕✕✕2020
Finance lease, liability431510539539✕✕
Liabilities, other than long-term debt1,0653032983602634
Deferred revenue and credits✕✕✕✕✕✕2
Deferred tax liabilities, net✕✕✕✕✕ 6
Other liabilities6861171081832626
Operating lease, liability380377350 ✕✕
Business combination, contingent consideration, liability  187190177  
Other undisclosed noncurrent liabilities     644642
Total noncurrent liabilities:1,4961,1911,187898690696
Total liabilities:4,2383,3333,0652,2331,8111,504
Equity
Equity, attributable to parent13,91310,1008,6876,0854,4352,029
Common stock333333
Additional paid in capital7,3876,8817,8947,9387,4217,157
Accumulated other comprehensive income (loss)116(68)(2)1(12)
Retained earnings (accumulated deficit)6,5233,201859(1,853)(2,989)(5,120)
Equity, attributable to noncontrolling interest      14
Total equity:13,91310,1008,6876,0854,4352,042
TOTAL LIABILITIES AND EQUITY:18,15113,43311,7528,3186,2463,546

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues8,9317,5746,2064,1633,0482,489
Revenue, net✕✕✕✕✕✕2,173
Cost of revenue(1,080)(904)(749)(552)(410)(529)
Cost of goods and services sold(1,080)(904)(736)(548)(410)(290)
Gross profit:7,8506,6705,4563,6112,6381,960
Operating expenses(3,601)(3,891)(2,600)(2,413)(2,003)(1,837)
Other undisclosed operating income583    
Operating income:4,3072,7822,8561,198635123
Nonoperating income (expense)(20)10319256(1)(81)
Investment income, nonoperating14552264  
Other nonoperating income (expense)(165)5296192(1)(81)
Interest and debt expense(44)(47)(58)(59)  
Other undisclosed loss from continuing operations before equity method investments, income taxes     (34)(58)
Income (loss) from continuing operations before equity method investments, income taxes:4,2442,7453,1171,395600(16)
Other undisclosed loss from continuing operations before income taxes(11)(14)    
Income (loss) from continuing operations before income taxes:4,2322,7303,1171,395600(16)
Income tax expense (benefit)(910)(388)(405)(218)1,487107
Income from continuing operations:3,3222,3422,7121,1772,08792
Income before gain (loss) on sale of properties:✕✕2,3422,7121,1772,08792
Net income:3,3222,3422,7121,1772,08792
Net income attributable to noncontrolling interest     10172
Net income attributable to parent:3,3222,3422,7121,1772,097263
Undistributed earnings (loss) allocated to participating securities, basic     (1)(0)
Net income available to common stockholders, basic:3,3222,3422,7121,1772,096263
Other undisclosed net income available to common stockholders, diluted     00
Net income available to common stockholders, diluted:3,3222,3422,7121,1772,096263

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:3,3222,3422,7121,1772,08792
Other comprehensive income (loss)  (67)(3)36(33)
Comprehensive income:3,3222,3422,6451,1742,12359
Comprehensive income, net of tax, attributable to noncontrolling interest     10172
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(15)84    
Comprehensive income, net of tax, attributable to parent:3,3072,4272,6451,1742,133231

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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