Edwards Lifesciences Corp
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
EW$104.01-0.7%Stored close · as of Nov 10, 2026
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Item 1. Financial Statements (Unaudited)
Item 1. Financial Statements
CONSOLIDATED CONDENSED BALANCE SHEETS
(in millions, except par value; unaudited)
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $3,676.4 | $1,132.3 |
| Short-term investments (Note 6) | 769.7 | 500.5 |
| Accounts receivable, net of allowances of $12.6 and $8.2, respectively | 716.0 | 771.5 |
| Other receivables | 95.5 | 56.6 |
| Inventories (Note 2) | 1,104.2 | 903.5 |
| Prepaid expenses | 114.9 | 128.8 |
| Other current assets | 231.0 | 224.9 |
| Current assets of discontinued operations (Note 5) | 20.0 | 317.6 |
| Total current assets | 6,727.7 | 4,035.7 |
| Long-term investments (Note 6) | 319.6 | 583.9 |
| Property, plant, and equipment, net | 1,675.7 | 1,591.0 |
| Operating lease right-of-use assets | 104.4 | 84.4 |
| Goodwill | 1,605.3 | 1,145.1 |
| Other intangible assets, net | 956.1 | 399.4 |
| Deferred income taxes | 888.4 | 749.4 |
| Other assets (Note 2) | 683.5 | 463.2 |
| Non-current assets of discontinued operations (Note 5) | 10.5 | 311.1 |
| Total assets | $12,971.2 | $9,363.2 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Accounts payable | $172.8 | $186.6 |
| Accrued and other liabilities (Note 2) | 1,745.3 | 856.4 |
| Operating lease liabilities | 24.2 | 22.9 |
| Current liabilities of discontinued operations (Note 5) | 1.8 | 129.5 |
| Total current liabilities | 1,944.1 | 1,195.4 |
| Long-term debt | 597.5 | 597.0 |
| Taxes payable | 1.1 | 80.6 |
| Operating lease liabilities | 85.0 | 65.2 |
| Uncertain tax positions | 345.6 | 335.0 |
| Litigation settlement accrual | 63.9 | 94.2 |
| Other liabilities | 322.6 | 251.3 |
| Non-current liabilities of discontinued operations (Note 5) | — | 25.1 |
| Total liabilities | 3,359.8 | 2,643.8 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' equity | ||
| Preferred stock, $0.01 par value, authorized 50.0 shares, no shares outstanding | — | — |
| Common stock, $1.00 par value, 1,050.0 shares authorized, 654.3 and 650.5 shares issued, and 589.8 and 601.1 shares outstanding, respectively | 654.3 | 650.5 |
| Additional paid-in capital | 2,452.1 | 2,274.4 |
| Retained earnings | 12,781.4 | 8,992.4 |
| Accumulated other comprehensive loss (Note 14) | (252.5) | (242.8) |
| Treasury stock, at cost, 64.5 and 49.4 shares, respectively | (6,089.7) | (5,024.5) |
| Total Edwards Lifesciences Corporation stockholders' equity | 9,545.6 | 6,650.0 |
| Noncontrolling interest | 65.8 | 69.4 |
| Total stockholders' equity | 9,611.4 | 6,719.4 |
| Total liabilities and equity | $12,971.2 | $9,363.2 |
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