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.
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Advanced Micro Devices Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).
- Cash and Cash Equivalents
- Cash and cash equivalents showed a significant increase from 1595 million USD in 2020 to a peak of 4835 million USD in 2022, followed by a decline to 3787 million USD in 2024. This indicates an initial accumulation of liquid resources that was later partially utilized or reallocated.
- Short-term Investments
- Short-term investments rose steadily from 695 million USD in 2020 to 1840 million USD in 2023, before decreasing to 1345 million USD in 2024. This pattern suggests a strategic increase in liquid investment holdings until 2023, with a subsequent reduction, potentially for liquidity needs or other investments.
- Accounts Receivable, Net
- Accounts receivable grew consistently from 2066 million USD in 2020 to 6192 million USD in 2024, nearly tripling over the five-year span. This upward trend reflects expanding sales on credit and possibly longer collection periods or increased business activity.
- Inventories
- Inventory levels more than quadrupled from 1399 million USD in 2020 to 5734 million USD in 2024, with especially large jumps between 2021 and 2024. This sharp increase indicates buildup of stock, which might be aligned with growing demand or anticipated sales but could also signal potential overstock or slower turnover.
- Receivables from Related Parties
- Receivables from related parties remained minimal through 2023 but surged dramatically to 113 million USD in 2024. This spike may indicate increased intercompany transactions or financing activities within the corporate structure.
- Unbilled Receivables
- Unbilled receivables were absent in prior years but appeared at 1053 million USD in 2023, decreasing to 628 million USD in 2024. The initial recognition suggests new contractual or service arrangements generating revenue not yet invoiced, followed by a decline possibly due to billing or collection efforts.
- Other and Prepaid Expenses and Other Current Assets
- Other current assets, including prepaid expenses, experienced a substantial rise from 378 million USD in 2020 to 2312 million USD in 2023, then decreased to 1878 million USD in 2024. The increase may relate to advances, deposits, or deferred expenses increasing with business expansion, followed by normalization.
- Current Assets
- Overall current assets expanded significantly from 6143 million USD in 2020 to 19049 million USD in 2024, reflecting growth in cash, investments, receivables, inventories, and other current items. This notable increase indicates strengthened short-term financial resources and operational scale.
- Property and Equipment, Net
- Net property and equipment increased steadily from 641 million USD in 2020 to 1802 million USD in 2024, suggesting ongoing capital expenditures and asset base growth to support operations.
- Operating Lease Right-of-Use Assets
- Right-of-use assets also showed growth, from 208 million USD in 2020 to 623 million USD in 2024, indicating increased leasing commitments, possibly related to facilities or equipment.
- Goodwill
- Goodwill remained stable at 289 million USD until 2021 but then surged dramatically to over 24 billion USD by 2022, maintaining similar levels thereafter. This jump likely reflects a major acquisition or combination accounting event that substantially increased intangible asset recognition.
- Acquisition-Related Intangibles
- Acquisition-related intangible assets emerged in 2022 at 24 billion USD and decreased gradually to 18.9 billion USD by 2024. The initial recognition aligns with the goodwill increase and large acquisition activity, with the subsequent decline representing amortization or impairment adjustments over time.
- Investment: Equity Method
- Equity method investments rose steadily from 63 million USD in 2020 to 149 million USD in 2024, indicating growing stakes or value in associated entities.
- Deferred Tax Assets
- Deferred tax assets declined sharply from 1245 million USD in 2020 to 58 million USD in 2022, before recovering somewhat to 688 million USD in 2024. This fluctuation may be tied to changes in taxable temporary differences, net operating losses, or tax planning strategies following acquisition activities.
- Other Non-Current Assets
- Other non-current assets increased from 373 million USD in 2020 to 3146 million USD in 2024, supporting the narrative of expanding asset base and possibly related to long-term investments or prepaid expenditures.
- Non-Current Assets
- Non-current assets jumped markedly from 2819 million USD in 2020 to more than 50 billion USD by 2024, with most of the increase driven by goodwill and acquisition-related intangibles. This underscores transformative acquisition activity as a driver of asset growth and composition change.
- Total Assets
- Total assets increased significantly from 8962 million USD in 2020 to nearly 69.2 billion USD in 2024. The majority of this growth is attributable to large acquisitions, as reflected in the sharp increases in goodwill, intangible assets, and associated non-current assets, alongside operational growth in current and fixed assets.