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.
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Advanced Micro Devices Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Aggregate Accruals
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Based on: 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27).
Over the analyzed period, the company’s asset base experienced significant fluctuations and overall growth. Current assets demonstrated a generally increasing trend, while non-current assets exhibited a more complex pattern, heavily influenced by substantial changes in goodwill and acquisition-related intangibles. A detailed examination of individual asset components reveals specific dynamics worthy of note.
- Liquidity & Current Assets
- Current assets increased from approximately $7.197 billion in March 2021 to $7.692 billion in December 2025, with notable peaks in the earlier periods reaching $19.049 billion in December 2022. This growth was primarily driven by increases in accounts receivable, inventories, and prepaid expenses. Accounts receivable showed a consistent upward trend, nearly doubling from $2.178 billion to $6.315 billion. Inventories also exhibited a substantial increase, rising from $1.653 billion to $7.920 billion, indicating potentially increasing sales or build-up of stock. Cash and cash equivalents, while volatile, generally remained above $3.5 billion throughout the period, with a peak of $6.049 billion in March 2025. Short-term investments fluctuated considerably, peaking at $2.444 billion in June 2022 and declining to $5.013 billion in December 2025.
- Long-Term Assets & Intangibles
- Non-current assets underwent a dramatic shift beginning in March 2022. Prior to this, they were relatively stable around $2.8-3.8 billion. In March 2022, non-current assets surged to $53.546 billion, largely due to a significant increase in goodwill, rising from $289 million to $23.083 billion, and acquisition-related intangibles, increasing from negligible amounts to $26.832 billion. These values subsequently decreased over time, but remained substantially higher than pre-March 2022 levels. By December 2025, goodwill stood at $25.126 billion and acquisition-related intangibles at $16.705 billion. Property and equipment, net, showed a modest but consistent increase over the period, rising from $681 million to $2.312 billion. Deferred tax assets also experienced fluctuations, peaking at $1.183 billion in September 2024 before declining to $384 million by December 2025. Other non-current assets generally increased, reaching $5.452 billion in December 2025.
- Assets Held for Sale
- The presence of “Assets held for sale” beginning in June 2025, peaking at $4.326 billion, suggests potential divestitures or restructuring activities. The value decreased to $3.990 billion by September 2025 and was absent by December 2025, indicating the completion of these transactions.
In summary, the company’s balance sheet reflects a period of substantial growth and strategic shifts. The significant increases in goodwill and acquisition-related intangibles suggest active mergers and acquisitions activity, while the fluctuations in current assets indicate dynamic working capital management. The appearance and subsequent disappearance of assets held for sale point to potential portfolio adjustments. Overall, total assets increased from $10.047 billion in March 2021 to $76.926 billion in December 2025.