Common-Size Balance Sheet: Assets
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Aggregate Accruals
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CSX Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Cash and cash equivalents
- Cash and equivalents as a percentage of total assets exhibited notable volatility. Starting at 5.29% in early 2018, the proportion declined to a low of 1.79% by mid-2022 before recovering somewhat to 3.11% by the first quarter of 2023. This indicates a fluctuating liquidity position across the analyzed periods, with peaks observed at the end of 2020.
- Short-term investments
- This category remained a relatively small fraction of total assets throughout the periods, ranging mostly below 1% after mid-2020, following higher levels in 2018 and early 2019 where it reached above 2%. The latest figures indicate a slight increasing trend in the first quarter of 2023, albeit still below earlier peaks.
- Accounts receivable, net
- Accounts receivable showed a gradual increasing trend over time, beginning at 2.79% in early 2018 and reaching 3.32% by early 2023, with fluctuations in between. The increase indicates a modestly growing portion of assets tied up in receivables, peaking near 3.69% in mid-2022.
- Materials and supplies
- The share of materials and supplies in total assets remained relatively stable, fluctuating narrowly between 0.59% and 0.99%. There was a slight upward movement towards the end of the series, signaling a modest increase in inventory levels as a percentage of total assets.
- Other current assets
- Other current assets maintained a very small proportion of total assets, generally ranging between 0.17% and 0.37%. Minor increases were noticed in certain quarters but overall the component stayed stable and minimal in the asset structure.
- Current assets
- The aggregate of current assets as a percentage of total assets showed a fluctuating yet generally decreasing pattern from 9.46% in early 2018 down to 8.09% by early 2023, with an evident dip around mid-2022 to 6.9%. Earlier increases, especially in late 2020 and mid-2021, were not sustained through the recent periods.
- Properties (gross)
- Property assets consistently represented a dominant share of total assets, typically above 114%, indicating significant investment in fixed assets. A slight downward drift around 2020-2022 was followed by recovery in early 2023. The high proportions suggest extensive capitalization relative to total asset value.
- Accumulated depreciation
- Accumulated depreciation followed a narrow range between approximately -32.6% and -34.9%, reflecting steady depreciation charges against the property base. Some reduction in accumulated depreciation occurred during 2021-2022, implying potential changes in asset base or depreciation policies.
- Properties, net
- Net property values tracked a moderate declining trend as a share of total assets, decreasing from about 84.8% in early 2018 to around 82.7% in early 2023, with minor fluctuations. This corresponds with the patterns seen in gross properties and accumulated depreciation, indicating stable but slightly declining net fixed assets proportion.
- Investment in affiliates and other companies
- Investments in affiliates and others showed a steady increase from 4.58% to 5.58% over the examined period. This gradual growth suggests an increasing allocation to investments outside core fixed assets and current holdings.
- Right-of-use operating lease asset
- This asset emerged in early 2019 and maintained a small but consistent presence near 1.2% of total assets through early 2023, showing a slight downward trend towards the end. This reflects lease accounting adoption and ongoing recognition of leased assets.
- Goodwill and other intangible assets, net
- Goodwill and intangible assets appeared starting late 2021, with a small and stable share near 1.2% of total assets, with a slight increase to 1.38% before a mild decline. This indicates limited but steady intangible asset holdings.
- Other long-term assets
- Other long-term assets fluctuated moderately, with values ranging approximately from 0.9% to 1.59%. A peak around 1.59% in late 2022 was followed by a decrease, indicating some volatility or variations in non-specified long-term holdings.
- Long-term assets
- Long-term assets consistently accounted for the majority of total assets, hovering around 90%. Slight fluctuations were observed, but the proportion remained steady, underscoring a capital-intensive asset structure focused on property and related investments.
- Total assets
- By definition, total assets remained at 100% throughout all periods, providing the basis for relative analysis of asset composition.