filings.toolsItem 6. Selected Financial Data
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Item 6. Selected Financial Data
BIOGEN INC. AND SUBSIDIARIES
SELECTED FINANCIAL DATA
| Our results of operations are summarized as follows: | |||||||||||||||||||||||||||||
| For the Years Ended December 31, | |||||||||||||||||||||||||||||
| (In millions, except per share amounts) | 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||
| Results of Operations | |||||||||||||||||||||||||||||
| Product revenues, net | $ | 10,692.2 | $ | 11,379.8 | $ | 10,886.8 | $ | 10,354.7 | $ | 9,817.9 | |||||||||||||||||||
| Revenues from anti-CD20 therapeutic programs | 1,977.8 | 2,290.4 | 1,980.2 | 1,559.2 | 1,314.5 | ||||||||||||||||||||||||
| Other revenues | 774.6 | 707.7 | 585.9 | 360.0 | 316.4 | ||||||||||||||||||||||||
| Total revenues | 13,444.6 | 14,377.9 | 13,452.9 | 12,273.9 | 11,448.8 | ||||||||||||||||||||||||
| Total cost and expenses | 8,894.5 | 7,335.3 | 7,564.3 | 6,928.1 | 6,297.1 | ||||||||||||||||||||||||
| Income from operations | 4,550.1 | 7,042.6 | 5,888.6 | 5,345.8 | 5,151.7 | ||||||||||||||||||||||||
| Other income (expense), net | 497.4 | 83.3 | 11.0 | (217.0) | (218.7) | ||||||||||||||||||||||||
| Income before income tax expense and equity in loss of investee, net of tax | 5,047.5 | 7,125.9 | 5,899.6 | 5,128.8 | 4,933.0 | ||||||||||||||||||||||||
| Income tax expense | 992.3 | 1,158.0 | 1,425.6 | 2,458.7 | 1,237.3 | ||||||||||||||||||||||||
| Equity in loss of investee, net of tax | (5.3) | 79.4 | — | — | — | ||||||||||||||||||||||||
| Net income | 4,060.5 | 5,888.5 | 4,474.0 | 2,670.1 | 3,695.7 | ||||||||||||||||||||||||
| Net income (loss) attributable to noncontrolling interests, net of tax | 59.9 | — | 43.3 | 131.0 | (7.1) | ||||||||||||||||||||||||
| Net income attributable to Biogen Inc. | $ | 4,000.6 | $ | 5,888.5 | $ | 4,430.7 | $ | 2,539.1 | $ | 3,702.8 | |||||||||||||||||||
| Diluted Earnings Per Share | |||||||||||||||||||||||||||||
| Diluted earnings per share attributable to Biogen Inc. | $ | 24.80 | $ | 31.42 | $ | 21.58 | $ | 11.92 | $ | 16.93 | |||||||||||||||||||
| Weighted-average shares used in calculating diluted earnings per share attributable to Biogen Inc. | 161.3 | 187.4 | 205.3 | 213.0 | 218.8 | ||||||||||||||||||||||||
| Our financial condition is summarized as follows: | |||||||||||||||||||||||||||||
| As of December 31, | |||||||||||||||||||||||||||||
| (In millions) | 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||
| Financial Condition | |||||||||||||||||||||||||||||
| Cash, cash equivalents and marketable securities | $ | 3,382.2 | $ | 5,884.0 | $ | 4,913.9 | $ | 6,746.3 | $ | 7,724.5 | |||||||||||||||||||
| Total assets | $ | 24,618.9 | $ | 27,234.3 | $ | 25,288.9 | $ | 23,652.6 | $ | 22,876.8 | |||||||||||||||||||
| Notes payable, less current portion | $ | 7,426.2 | $ | 4,459.0 | $ | 5,936.5 | $ | 5,935.0 | $ | 6,512.7 | |||||||||||||||||||
| Total Biogen Inc. shareholders’ equity | $ | 10,700.3 | $ | 13,343.2 | $ | 13,039.6 | $ | 12,612.8 | $ | 12,140.1 |
The financial data included within the tables above should be read in conjunction with our consolidated financial statements and related notes and Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations included in this report and our previously filed Annual Reports on Form 10-K.
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