Vertex Pharmaceuticals Incorporated (VRTX) financial statements (2020 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,8082,6502,0891,4351,0421,3871,465
Cash and cash equivalents3,1092,6501,6651,184715625569
Short-term investments699 423251328762896
Restricted cash and investments8 148798 
Receivables6344102812041899086
Inventory, net of allowances, customer advances and progress billings16812411278573114
Inventory16812411278573114
Prepaid expense 7462362218 
Other current assets 627417127 
Other undisclosed current assets20652329145624
Total current assets:4,8233,8432,6491,8321,4071,5471,589
Noncurrent Assets
Finance lease, right-of-use asset445
Operating lease, right-of-use asset88
Property, plant and equipment 812789698698716697
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)1,40250793353356931
Goodwill1,002505050504031
Intangible assets, net (excluding goodwill)400 2928428429 
Restricted cash and investments3  022 0
Deferred income tax assets1,191
Other noncurrent assets15841812732
Other undisclosed noncurrent assets2081,500     
Total noncurrent assets:3,4962,4038971,0651,092788730
TOTAL ASSETS:8,3186,2463,5462,8972,4992,3352,319
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,205715518377381392406
Accounts payable881117461757149
Accrued liabilities1,117604444315306210271
Employee-related liabilities     9177
Taxes payable     148
Interest and dividends payable     5 
Debt 1023319871817
Restructuring reserve  26833
Deferred revenue and credits56161722
Customer advances and deposits23273  
Other liabilities13041271114525
Other undisclosed current liabilities 354   (97)(71)
Total current liabilities:1,3351,120807793506368398
Noncurrent Liabilities
Long-term debt and lease obligation53920203526732049
Long-term debt, excluding current maturities    224281 
Finance lease, liability539
Capital lease obligations202035433949
Liabilities, other than long-term debt36026342451597775
Deferred revenue and credits27102849
Deferred tax liabilities, net 613411015 
Restructuring reserve   271314
Other liabilities1832626102322212
Business combination, contingent consideration, liability177     
Other undisclosed noncurrent liabilities 644642486473473441
Total noncurrent liabilities:898690696766899870565
Total liabilities:2,2331,8111,5041,5591,4051,238963
Stockholders' equity
Stockholders' equity attributable to parent6,0854,4352,0291,1579401,0751,356
Common stock3332222
Additional paid in capital7,9387,4217,1576,5076,1985,7775,321
Accumulated other comprehensive income (loss)(2)1(12)2121(0)
Accumulated deficit(1,853)(2,989)(5,120)(5,374)(5,262)(4,705)(3,967)
Stockholders' equity attributable to noncontrolling interest  1418215421 
Total stockholders' equity:6,0854,4352,0421,3381,0941,0961,356
TOTAL LIABILITIES AND EQUITY:8,3186,2463,5462,8972,4992,3352,319

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues4,1633,0482,4891,7021,0325801,212
Revenue, net2,1731,7001,024529994
Cost of revenue(552)(410)(529)(210)(125)(61)(141)
Cost of goods and services sold(548)(410)(290)(210)(125)(61)(141)
Gross profit:3,6112,6381,9601,4929085191,071
Operating expenses(2,413)(2,003)(1,837)(1,482)(1,375)(1,214)(1,985)
Other undisclosed operating income     210
Operating income (loss):1,19863512310(467)(692)(903)
Nonoperating income (expense)256(1)(81)4(7)24(45)
Investment income, nonoperating64      
Foreign currency transaction gain (loss), before tax     (6)5
Other nonoperating income (expense)192(1)(81)4(7)30(50)
Interest and debt expense(59)     (4)
Other undisclosed loss from continuing operations before equity method investments, income taxes (34)(58)(81)(84)(66)(24)
Income (loss) from continuing operations before income taxes:1,395600(16)(67)(558)(735)(976)
Income tax expense (benefit)(218)1,487107(17)(30)(7)289
Income (loss) from continuing operations:1,1772,08792(84)(588)(742)(688)
Loss from discontinued operations     (1) 
Net income (loss):1,1772,08792(84)(588)(743)(688)
Net income attributable to noncontrolling interest 10172   243
Other undisclosed net income (loss) attributable to parent   (28)324 
Net income (loss) attributable to parent:1,1772,097263(112)(556)(739)(445)
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:1,1772,096263(112)(556)(738)(445)
Other undisclosed net income available to common stockholders, diluted 00    
Net income (loss) available to common stockholders, diluted:1,1772,096263(112)(556)(738)(445)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):1,1772,08792(84)(588)(743)(688)
Other comprehensive income (loss)(3)36(33)19110
Comprehensive income (loss):1,1742,12359(65)(587)(742)(687)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest 10172(28)324(243)
Other undisclosed comprehensive income, net of tax, attributable to parent      485
Comprehensive income (loss), net of tax, attributable to parent:1,1742,133231(93)(555)(737)(445)

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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