Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

GlaxoSmithKline PLC, consolidated balance sheet: assets

US$ in millions, translated from GBP £

	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011	Dec 31, 2010
Property, plant and equipment	15,288)	14,703)	14,272)	13,592)	13,922)
Goodwill	6,289)	6,969)	7,089)	5,833)	5,550)
Other intangible assets	14,052)	15,384)	16,525)	12,122)	13,132)
Joint ventures	14)	25)	36)	45)	83)
Associated	561)	510)	906)	825)	1,581)
Investments in associates and joint ventures	574)	535)	942)	870)	1,664)
Other investments	1,881)	1,992)	1,280)	917)	1,094)
Deferred tax assets	4,540)	3,454)	3,879)	4,427)	3,950)
Derivative financial instruments	—)	2)	88)	132)	149)
Amounts receivable under insurance contracts	755)	656)	584)	524)	528)
Pension schemes in surplus	157)	547)	202)	31)	35)
Other receivables	329)	270)	324)	261)	292)
Other non-current assets	1,241)	1,473)	1,109)	816)	856)
Non-current assets	43,866)	44,513)	45,183)	38,709)	40,317)
Inventories	7,146)	6,463)	6,455)	6,018)	5,906)
Current tax recoverable	233)	214)	168)	132)	86)
Trade receivables, net of provision for bad and doubtful debts	6,006)	6,573)	6,692)	6,900)	7,276)
Prepaid pension contributions	—)	—)	2)	3)	3)
Other prepayments and accrued income	488)	481)	462)	527)	394)
Interest receivable	15)	15)	18)	12)	25)
Employee loans and advances	47)	61)	65)	64)	77)
Other receivables	1,213)	1,889)	1,286)	1,158)	1,142)
Trade and other receivables	7,769)	9,019)	8,525)	8,664)	8,916)
Derivative financial instruments	247)	257)	80)	109)	143)
Liquid investments	117)	109)	132)	286)	283)
Cash and cash equivalents	7,326)	9,171)	6,804)	8,878)	9,323)
Assets held for sale	1,952)	2)	104)	1,033)	25)
Current assets	24,790)	25,235)	22,267)	25,120)	24,682)
Total assets	68,656)	69,748)	67,450)	63,828)	64,999)

Based on: 20-F (reporting date: 2014-12-31), 20-F (reporting date: 2013-12-31), 20-F (reporting date: 2012-12-31), 20-F (reporting date: 2011-12-31), 20-F (reporting date: 2010-12-31).

Assets: Selected Items

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Balance sheet item	Description	The company
Property, plant and equipment	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	GlaxoSmithKline PLC property, plant and equipment increased from 2012 to 2013 and from 2013 to 2014.
Non-current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	GlaxoSmithKline PLC non-current assets decreased from 2012 to 2013 and from 2013 to 2014.
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	GlaxoSmithKline PLC current assets increased from 2012 to 2013 but then slightly decreased from 2013 to 2014.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	GlaxoSmithKline PLC total assets increased from 2012 to 2013 but then slightly decreased from 2013 to 2014.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	GlaxoSmithKline PLC inventories increased from 2012 to 2013 and from 2013 to 2014.
Trade receivables, net of provision for bad and doubtful debts	Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.	GlaxoSmithKline PLC trade receivables, net of provision for bad and doubtful debts decreased from 2012 to 2013 and from 2013 to 2014.
Liquid investments	Amount of investment in marketable security, classified as current.	GlaxoSmithKline PLC liquid investments decreased from 2012 to 2013 but then slightly increased from 2013 to 2014.
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	GlaxoSmithKline PLC cash and cash equivalents increased from 2012 to 2013 but then slightly decreased from 2013 to 2014 not reaching 2012 level.

GlaxoSmithKline PLC (NYSE:GSK)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items