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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Cadence Design Systems Inc., consolidated balance sheet: assets

US$ in thousands

		Dec 31, 2024		Dec 31, 2023		Dec 31, 2022		Dec 31, 2021		Dec 31, 2020
	Cash and cash equivalents
	Receivables, net
	Inventories
	Short-term investments
	Other prepaid expenses and other assets
	Prepaid expenses and other
	Current assets
	Property, plant and equipment, net
	Goodwill
	Acquired intangibles, net
	Deferred taxes
	Non-marketable investments
	ROU operating lease assets
	Other long-term assets
	Other assets
	Long-term assets
	Total assets

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The financial data reveals several notable trends over the five-year period ending December 31, 2024, across various asset categories.

Cash and Cash Equivalents: There is a significant increase in cash and cash equivalents, rising from approximately $928 million in 2020 to about $2.64 billion in 2024. This suggests a strengthening liquidity position, with a particularly large jump between 2023 and 2024.
Receivables, Net: Net receivables have steadily increased each year, from $338 million in 2020 to $680 million in 2024, indicating growth in sales or extended credit terms to customers.
Inventories: Inventories have almost tripled from $76 million in 2020 to $258 million in 2024, reflecting possibly increased production or stockpiling to meet higher demand.
Short-term Investments: Short-term investments remained relatively low and stable until 2022, after which they surged to $131 million in 2023 and slightly higher to $141 million in 2024, aligning with increased liquidity management efforts.
Prepaid Expenses and Other Assets: Both categories show growth, with prepaid expenses increasing from approximately $136 million in 2020 to $434 million in 2024, suggesting more upfront payments or expansion in prepayments. Other assets also consistently increased, indicating asset diversification or accumulation.
Current Assets: Total current assets grew moderately from $1.48 billion in 2020 to $1.98 billion in 2023, then nearly doubled to approximately $4 billion in 2024. The large jump in 2024 is largely driven by increased cash equivalents and receivables.
Property, Plant and Equipment, Net: There is a steady increase in net property, plant, and equipment from $311 million in 2020 to $458 million in 2024, indicating ongoing capital investment and expansion of operational capacity.
Goodwill: Goodwill exhibits a strong upward trajectory, more than tripling from $782 million in 2020 to nearly $2.38 billion in 2024. This usually reflects acquisitions or business combinations, signaling growth through strategic purchases.
Acquired Intangibles, Net: Acquired intangible assets increased significantly from $211 million in 2020 to almost $595 million in 2024, consistent with goodwill trends and suggesting a focus on acquiring intangible resources such as intellectual property or customer relationships.
Deferred Taxes: Deferred tax assets grew steadily from $732 million in 2020 to nearly $1 billion in 2024, reflecting timing differences in income recognition or tax planning strategies.
Non-marketable Investments: Non-marketable investments showed a slight decline from $132 million in 2020 to $124 million in 2024, indicating some asset reallocation or divestment in non-liquid holdings.
ROU Operating Lease Assets: Right-of-use operating lease assets increased between 2020 and 2022 but then slightly decreased, stabilizing around $146 million by 2024, which may suggest lease renewals or changes in lease accounting.
Other Long-term Assets: Other long-term assets rose from $171 million in 2020 to $274 million in 2024, signaling additional capital allocation toward less defined asset categories.
Long-term Assets: Total long-term assets increased markedly from $2.47 billion in 2020 to nearly $5 billion in 2024, highlighting a strong accumulation of fixed, intangible, and deferred tax assets over the period.
Total Assets: Total assets grew consistently from $3.95 billion in 2020 to $8.97 billion in 2024, more than doubling over the period. This growth reflects a combination of expanding operational assets, strategic acquisitions, and increased liquidity.

Overall, the data indicates robust asset growth, substantial investments in acquisitions as reflected by rising goodwill and intangibles, and improved liquidity. The company appears to be expanding both organically and through acquisitions, positioning itself with greater resources and operational capacity.

Assets: Selected Items

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Current Assets: Selected Items