Balance Sheet: Assets
Quarterly Data

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.

Adobe Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	May 30, 2025	Feb 28, 2025	Nov 29, 2024	Aug 30, 2024	May 31, 2024	Mar 1, 2024	Dec 1, 2023	Sep 1, 2023	Jun 2, 2023	Mar 3, 2023	Dec 2, 2022	Sep 2, 2022	Jun 3, 2022	Mar 4, 2022	Dec 3, 2021	Sep 3, 2021	Jun 4, 2021	Mar 5, 2021	Nov 27, 2020	Aug 28, 2020	May 29, 2020	Feb 28, 2020	Nov 29, 2019	Aug 30, 2019	May 31, 2019	Mar 1, 2019
Cash and cash equivalents	4,931)	6,758)	7,613)	7,193)	7,660)	6,254)	7,141)	6,601)	5,456)	4,072)	4,236)	3,870)	3,365)	2,739)	3,844)	4,623)	4,250)	3,452)	4,478)	3,767)	3,044)	2,688)	2,650)	2,209)	2,083)	1,739)
Short-term investments	782)	677)	273)	322)	405)	566)	701)	915)	1,145)	1,581)	1,860)	1,894)	1,934)	1,962)	1,954)	1,541)	1,518)	1,511)	1,514)	1,497)	1,307)	1,483)	1,527)	1,442)	1,396)	1,487)
Trade receivables, net of allowances for doubtful accounts	1,735)	1,973)	2,072)	1,802)	1,612)	2,057)	2,224)	1,851)	1,685)	1,801)	2,065)	1,723)	1,588)	1,685)	1,878)	1,545)	1,477)	1,520)	1,398)	1,318)	1,366)	1,389)	1,535)	1,372)	1,273)	1,342)
Prepaid expenses and other current assets	1,530)	1,447)	1,274)	1,399)	1,346)	1,131)	1,018)	1,043)	988)	888)	835)	1,002)	1,021)	1,090)	993)	910)	833)	901)	756)	805)	932)	895)	783)	728)	591)	565)
Current assets	8,978)	10,855)	11,232)	10,716)	11,023)	10,008)	11,084)	10,410)	9,274)	8,342)	8,996)	8,489)	7,908)	7,476)	8,669)	8,619)	8,078)	7,384)	8,146)	7,387)	6,649)	6,455)	6,495)	5,750)	5,343)	5,134)
Property and equipment, net	1,890)	1,893)	1,936)	1,969)	1,969)	1,988)	2,030)	2,036)	2,032)	1,967)	1,908)	1,858)	1,790)	1,703)	1,673)	1,629)	1,573)	1,530)	1,517)	1,467)	1,387)	1,340)	1,293)	1,244)	1,205)	1,104)
Operating lease right-of-use assets, net	259)	266)	281)	368)	381)	366)	358)	373)	389)	402)	407)	414)	430)	435)	443)	452)	458)	477)	487)	507)	489)	504)	—)	—)	—)	—)
Goodwill	12,830)	12,777)	12,788)	12,814)	12,803)	12,803)	12,805)	12,800)	12,796)	12,792)	12,787)	12,756)	12,801)	12,795)	12,668)	11,838)	11,859)	11,845)	10,742)	10,739)	10,695)	10,691)	10,691)	10,688)	10,698)	10,708)
Other intangibles, net	631)	706)	782)	858)	933)	1,011)	1,088)	1,167)	1,258)	1,354)	1,449)	1,548)	1,650)	1,743)	1,820)	1,557)	1,641)	1,729)	1,359)	1,445)	1,535)	1,626)	1,721)	1,816)	1,917)	2,017)
Deferred income taxes	1,984)	1,820)	1,657)	1,548)	1,436)	1,310)	1,191)	1,065)	964)	826)	777)	799)	882)	950)	1,085)	1,190)	1,168)	1,262)	1,370)	219)	231)	—)	—)	—)	—)	—)
Other assets	1,535)	1,638)	1,554)	1,557)	1,462)	1,265)	1,223)	1,239)	1,125)	984)	841)	880)	865)	874)	883)	859)	805)	758)	663)	650)	617)	598)	563)	557)	503)	543)
Long-term assets	19,129)	19,100)	18,998)	19,114)	18,984)	18,743)	18,695)	18,680)	18,564)	18,325)	18,169)	18,255)	18,418)	18,500)	18,572)	17,525)	17,504)	17,601)	16,138)	15,027)	14,954)	14,759)	14,267)	14,305)	14,323)	14,372)
Total assets	28,107)	29,955)	30,230)	29,830)	30,007)	28,751)	29,779)	29,090)	27,838)	26,667)	27,165)	26,744)	26,326)	25,976)	27,241)	26,144)	25,582)	24,985)	24,284)	22,414)	21,603)	21,214)	20,762)	20,055)	19,666)	19,506)

The financial data reveals several notable trends regarding liquidity, asset composition, and changes in long-term asset values over the analyzed periods.

Cash and cash equivalents: This item shows a generally increasing trend from early 2019 through late 2023, peaking around December 2023 at 7,141 million USD. However, data for 2024 and the first half of 2025 show fluctuations with a decline to approximately 4,931 million USD by May 2025, indicating variability in liquidity levels toward the latest periods.
Short-term investments: There is a noticeable downward trend in short-term investments starting from over 1,400 million USD in early 2019 to under 400 million USD by early 2025. This consistent decline suggests a possible reallocation of resources or a strategic reduction in liquid investments over time.
Trade receivables, net: The trade receivables exhibit a rising trend with some intermittent increases and decreases. Starting around 1,342 million USD in early 2019, it peaks near 2,224 million USD in December 2023 before declining slightly in more recent periods. This pattern could reflect changes in sales volume or credit policies.
Prepaid expenses and other current assets: An overall increase is seen from 565 million USD in early 2019 to around 1,530 million USD by mid-2025. The upward movement signals rising prepaid costs or other short-term assets, potentially due to expanding operational activities or advances made.
Current assets: This category shows a general growth trend from about 5,134 million USD in early 2019, peaking near 11,084 million USD in late 2023, followed by a decrease to roughly 8,978 million USD in mid-2025. This pattern aligns with fluctuations observed in cash, short-term investments, and receivables, reflecting changes in the company's liquid asset base.
Property and equipment, net: The net value of property and equipment steadily increased from 1,104 million USD in early 2019 to around 2,036 million USD by late 2023 but slightly decreased to approximately 1,890 million USD by mid-2025. This suggests ongoing investments in fixed assets, peaking around 2023, and a modest decline thereafter, possibly due to depreciation or asset disposals.
Operating lease right-of-use assets, net: Data for this asset category begins in mid-2020 and shows a gradual decline from 504 million USD to about 259 million USD by mid-2025. This progressive decrease may reflect the expiration or renegotiation of lease agreements.
Goodwill: Goodwill values remain relatively stable with a modest upward trend, increasing from around 10,708 million USD in early 2019 to about 12,830 million USD by mid-2025. The stability suggests no significant write-downs with incremental additions over time, indicating continued acquisitions or value retention of intangible assets.
Other intangibles, net: This category consistently decreased from 2,017 million USD in early 2019 to approximately 631 million USD by mid-2025. The decline reflects amortization or impairments of intangible assets over the periods, indicating the consumption of these assets’ economic benefits.
Deferred income taxes: Starting data from mid-2020 shows a steady increase from 231 million USD to nearly 1,984 million USD by mid-2025. The growth in deferred tax assets/liabilities suggests evolving tax positions possibly related to timing differences in income recognition or other tax strategies.
Other assets: This category exhibits a gradual upward trend from 543 million USD in early 2019 to about 1,638 million USD in late 2024, followed by a slight decrease thereafter, indicating a growing portion of miscellaneous long-term assets before stabilizing.
Long-term assets: Long-term assets overall increased from roughly 14,372 million USD in early 2019 to about 19,114 million USD by late 2024, with minor fluctuations. This trend signifies ongoing investments or reevaluations of long-term holdings, supporting growth and expansion initiatives.
Total assets: Total assets climbed steadily from approximately 19,506 million USD in early 2019 to a peak of nearly 30,230 million USD in late 2024 before declining somewhat to 28,107 million USD by mid-2025. The overall asset growth reflects expansion in both current and long-term assets, while the recent dip suggests rebalancing or asset reductions in the latest periods.

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Adobe Inc. (NASDAQ:ADBE)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data