Vertex Pharmaceuticals Incorporated (VRTX) financial statements (2021 and earlier)

Company profile

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

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

12/31/2020
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 investments6,8553,8082,6502,0891,4351,0421,387
Cash and cash equivalents5,9883,1092,6501,6651,184715625
Short-term investments866699 423251328762
Restricted cash and investments 8 148798
Receivables88563441028120418990
Inventory, net of allowances, customer advances and progress billings281168124112785731
Inventory281168124112785731
Prepaid expense  7462362218
Other current assets  627417127
Other undisclosed current assets113206523291456
Total current assets:8,1334,8233,8432,6491,8321,4071,547
Noncurrent Assets
Finance lease, right-of-use asset431445
Operating lease, right-of-use asset32688
Property, plant and equipment  812789698698716
Long-term investments and receivables   202030 
Long-term investments   2020  
Accounts and financing receivable, after allowance for credit loss     30 
Intangible assets, net (including goodwill)1,4021,402507933533569
Goodwill1,0021,0025050505040
Intangible assets, net (excluding goodwill)400400 2928428429
Restricted cash and investments 3  022 
Deferred income tax assets8831,191
Other noncurrent assets491584181273
Other undisclosed noncurrent assets5272081,500    
Total noncurrent assets:3,6183,4962,4038971,0651,092788
TOTAL ASSETS:11,7528,3186,2463,5462,8972,4992,335
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,5601,205715518377381392
Accounts payable1558811174617571
Accrued liabilities1,4051,117604444315306210
Employee-related liabilities      91
Taxes payable      14
Interest and dividends payable      5
Debt  10233198718
Restructuring reserve   26833
Deferred revenue and credits561617
Customer advances and deposits23273  
Other liabilities317130412711145
Other undisclosed current liabilities  354   (97)
Total current liabilities:1,8781,3351,120807793506368
Noncurrent Liabilities
Long-term debt and lease obligation890539202035267320
Long-term debt, excluding current maturities     224281
Finance lease, liability539539
Capital lease obligations2020354339
Operating lease, liability350 
Liabilities, other than long-term debt298360263424515977
Deferred revenue and credits271028
Deferred tax liabilities, net 613411015
Restructuring reserve    2713
Other liabilities10818326261023222
Business combination, contingent consideration, liability190177     
Other undisclosed noncurrent liabilities  644642486473473
Total noncurrent liabilities:1,187898690696766899870
Total liabilities:3,0652,2331,8111,5041,5591,4051,238
Stockholders' equity
Stockholders' equity attributable to parent8,6876,0854,4352,0291,1579401,075
Common stock3333222
Additional paid in capital7,8947,9387,4217,1576,5076,1985,777
Accumulated other comprehensive income (loss)(68)(2)1(12)2121
Retained earnings (accumulated deficit)859(1,853)(2,989)(5,120)(5,374)(5,262)(4,705)
Stockholders' equity attributable to noncontrolling interest   1418215421
Total stockholders' equity:8,6876,0854,4352,0421,3381,0941,096
TOTAL LIABILITIES AND EQUITY:11,7528,3186,2463,5462,8972,4992,335

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues6,2064,1633,0482,4891,7021,032580
Revenue, net2,1731,7001,024529
Cost of revenue(749)(552)(410)(529)(210)(125)(61)
Cost of goods and services sold(736)(548)(410)(290)(210)(125)(61)
Gross profit:5,4563,6112,6381,9601,492908519
Operating expenses(2,600)(2,413)(2,003)(1,837)(1,482)(1,375)(1,214)
Other undisclosed operating income      2
Operating income (loss):2,8561,19863512310(467)(692)
Nonoperating income (expense)319256(1)(81)4(7)24
Investment income, nonoperating2264     
Foreign currency transaction loss, before tax      (6)
Other nonoperating income (expense)296192(1)(81)4(7)30
Interest and debt expense(58)(59)     
Other undisclosed loss from continuing operations before equity method investments, income taxes  (34)(58)(81)(84)(66)
Income (loss) from continuing operations before income taxes:3,1171,395600(16)(67)(558)(735)
Income tax expense (benefit)(405)(218)1,487107(17)(30)(7)
Income (loss) from continuing operations:2,7121,1772,08792(84)(588)(742)
Loss from discontinued operations      (1)
Net income (loss):2,7121,1772,08792(84)(588)(743)
Net income attributable to noncontrolling interest  10172   
Other undisclosed net income (loss) attributable to parent    (28)324
Net income (loss) attributable to parent:2,7121,1772,097263(112)(556)(739)
Undistributed earnings (loss) allocated to participating securities, basic  (1)(0)
Other undisclosed net income available to common stockholders, basic      1
Net income (loss) available to common stockholders, basic:2,7121,1772,096263(112)(556)(738)
Other undisclosed net income available to common stockholders, diluted  00   
Net income (loss) available to common stockholders, diluted:2,7121,1772,096263(112)(556)(738)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):2,7121,1772,08792(84)(588)(743)
Other comprehensive income (loss)(67)(3)36(33)1911
Comprehensive income (loss):2,6451,1742,12359(65)(587)(742)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest  10172(28)324
Comprehensive income (loss), net of tax, attributable to parent:2,6451,1742,133231(93)(555)(737)

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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