Stock Analysis on Net
Stock Analysis on Net

Boston Scientific Corp. (NYSE:BSX)

This company has been moved to the archive! The financial data has not been updated since May 4, 2023.

Common-Size Balance Sheet: Assets 

Boston Scientific Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 2.86 5.97 5.63 0.71 0.70
Trade accounts receivable, net 6.07 5.52 4.97 5.98 7.66
Inventories 5.75 5.00 4.39 5.17 5.55
Prepaid income taxes 0.81 0.64 0.63 0.64 0.77
Assets held for sale 0.00 0.00 3.68 0.00 0.00
Restricted cash and restricted cash equivalents 0.46 0.58 0.68 1.13 3.12
Derivative assets 0.71 0.70 0.43 0.34 0.58
Licensing arrangements 0.18 0.41 0.48 0.61 0.00
Other 0.89 0.79 0.85 0.80 0.69
Other current assets 2.25% 2.48% 2.44% 2.88% 4.39%
Current assets 17.74% 19.60% 21.75% 15.37% 19.06%
Property, plant and equipment, net 7.53 6.99 6.77 6.80 8.49
Goodwill 39.79 37.20 32.33 33.29 37.67
Other intangible assets, net 18.18 18.99 19.23 25.80 30.34
Deferred tax assets 12.14 12.85 13.68 13.73 0.41
Restricted cash equivalents 0.15 0.17 0.17 0.14 0.13
Operating lease right-of-use assets 1.19 1.35 1.49 1.10 0.00
Derivative assets 0.46 0.52 0.35 0.71 0.87
Investments 1.25 1.28 2.98 1.50 2.02
Licensing arrangements 0.21 0.35 0.71 1.09 0.00
Indemnification asset 0.53 0.00 0.00 0.00 0.00
Other 0.83 0.70 0.54 0.47 1.00
Other long-term assets 4.62% 4.37% 6.24% 5.00% 4.02%
Long-term assets 82.26% 80.40% 78.25% 84.63% 80.94%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets was relatively stable near 0.7% during 2018 and 2019, followed by a significant increase to around 5.6%-6.0% in 2020 and 2021, before declining to 2.86% in 2022. This indicates a temporary buildup of liquid assets during this period with a partial reduction in the last year.
Trade accounts receivable, net
This category showed a decreasing trend from 7.66% in 2018 to a low of 4.97% in 2020, then recovered somewhat to 6.07% by 2022, suggesting a fluctuation in credit sales or collection efficiency over these years.
Inventories
Inventories steadily declined from 5.55% in 2018 to 4.39% in 2020, but then increased back to 5.75% by 2022, indicating changes in stock levels or inventory management practices over time.
Prepaid income taxes
The ratio of prepaid income taxes to total assets remained fairly stable, fluctuating narrowly between 0.63% and 0.81%, demonstrating consistent advance tax payments relative to asset size.
Assets held for sale
Recorded only in 2020 at 3.68%, this suggests a notable sale of assets or restructuring event occurred during that year.
Restricted cash and restricted cash equivalents
There was a clear declining trend from 3.12% in 2018 to 0.46% in 2022, indicating a reduction in cash subject to restrictions over the period.
Derivative assets
Derivative assets fluctuated over the years with a slight decrease in the first years, a mid-period low around 2020 then a partial recovery to near 0.7% by 2022 for current assets, while long-term derivative assets declined overall from 0.87% to 0.46%. This shows variability in hedging activities or financial instruments held.
Licensing arrangements
The percentage related to licensing arrangements consistently declined both in current and long-term classifications, with notable decreases from over 0.6% in 2019 down to below 0.2% by 2022, suggesting reduced capitalized licensing assets.
Other current assets
These assets showed a steady decrease from 4.39% in 2018 to approximately 2.25% in 2022, indicating a contraction in miscellaneous current assets relative to total assets.
Current assets
Current assets as a whole saw a drop from 19.06% in 2018 to 15.37% in 2019, then a peak at 21.75% in 2020 followed by a decline to 17.74% in 2022. This reflects shifting asset compositions and liquidity management strategies across the years.
Property, plant and equipment, net
This category decreased from 8.49% in 2018 to 6.80% in 2019 and remained relatively stable near 7% thereafter, showing no significant growth in fixed asset base.
Goodwill
Goodwill shrank from 37.67% in 2018 to a low of 32.33% in 2020, then expanded again to 39.79% by 2022. This likely reflects acquisition activity or impairment adjustments impacting intangible asset values.
Other intangible assets, net
A substantial decrease occurred from 30.34% in 2018 to about 18.18% in 2022, indicating amortization or disposals reducing intangible asset balances over time.
Deferred tax assets
This asset class rose sharply from 0.41% in 2018 to around 13-14% in subsequent years and slightly declined to 12.14% in 2022, suggesting recognition of significant deferred tax benefits or timing differences during that period.
Operating lease right-of-use assets
Introduced from 2019 at 1.10%, the assets peaked at 1.49% in 2020 and gradually declined through 2022, likely correlating with lease accounting changes and lease portfolio adjustments.
Investments
Investment assets showed volatility, with a low of 1.25% in 2022 after peaking near 3% in 2020, reflecting changes in portfolio holdings or valuation of minority interests.
Indemnification asset
Reported only in 2022 at 0.53%, indicating a newly recognized asset possibly related to contingency or agreement rights.
Other long-term assets
These assets fluctuated modestly, rising from 4.02% in 2018 to a peak of 6.24% in 2020, then decreasing slightly, which suggests variability in miscellaneous noncurrent asset composition.
Long-term assets
The overall proportion of long-term assets to total assets remained relatively stable, increasing from approximately 81% in 2018 to around 82% in 2022, reflecting a consistently asset-intensive structure held over the period.
Total assets
The total assets' distribution by category indicates a stable allocation between current and long-term assets, with key trends in intangible assets, cash equivalents, and deferred tax assets shaping the composition over the analyzed years.