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.

Etsy Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	780,196)	1,244,099)	443,293)	366,985)	315,442)
Short-term investments	204,416)	425,119)	373,959)	257,302)	25,108)
Accounts receivable, net	27,266)	22,605)	15,386)	12,244)	33,677)
Prepaid and other current assets	109,417)	56,152)	38,614)	22,686)	20,379)
Funds receivable and seller accounts	220,206)	146,806)	49,786)	21,072)	44,658)
Current assets	1,341,501)	1,894,781)	921,038)	680,289)	439,264)
Restricted cash	5,341)	5,341)	5,341)	5,341)	5,341)
Property and equipment, net	275,062)	112,495)	144,864)	120,179)	117,617)
Goodwill	1,371,064)	140,810)	138,731)	37,482)	38,541)
Intangible assets, net	607,170)	187,449)	199,236)	34,589)	4,100)
Deferred tax assets	95,863)	115)	14,257)	23,464)	159)
Long-term investments	85,034)	39,094)	89,343)	—)	—)
Other assets	50,774)	24,404)	29,542)	507)	561)
Non-current assets	2,490,308)	509,708)	621,314)	221,562)	166,319)
Total assets	3,831,809)	2,404,489)	1,542,352)	901,851)	605,583)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Cash and cash equivalents: The balance increased steadily from 315,442 thousand USD in 2017 to a peak of 1,244,099 thousand USD in 2020, followed by a decline to 780,196 thousand USD in 2021. This indicates enhanced liquidity peaking in 2020 before a reduction.
Short-term investments: There was a significant rise from 25,108 thousand USD in 2017 to 425,119 thousand USD in 2020, subsequently falling to 204,416 thousand USD in 2021. This trend suggests increased investment in short-duration assets until 2020, with partial liquidation or reallocation occurring in 2021.
Accounts receivable, net: Accounts receivable showed some fluctuation, decreasing sharply from 33,677 thousand USD in 2017 to 12,244 thousand USD in 2018, then gradually rising each year to 27,266 thousand USD in 2021. This pattern may reflect varying credit sales and collection efficiency over time.
Prepaid and other current assets: This category demonstrated consistent growth from 20,379 thousand USD in 2017 to 109,417 thousand USD in 2021, indicating an increasing portion of resources paid in advance or expected to be realized within a year.
Funds receivable and seller accounts: Starting at 44,658 thousand USD in 2017, this item decreased to 21,072 thousand USD in 2018 before rising significantly to 220,206 thousand USD by 2021. This suggests growing activity or receivables from marketplace transactions or third-party sellers in recent years.
Current assets: Current assets nearly tripled from 439,264 thousand USD in 2017 to 1,894,781 thousand USD in 2020, then declined to 1,341,501 thousand USD in 2021. The increase reflects substantial additions, particularly in cash equivalents and short-term investments, while the decline suggests reallocation or usage of liquid resources.
Restricted cash: Restricted cash remained constant at 5,341 thousand USD throughout the entire period, indicating no material changes in restricted liquidity.
Property and equipment, net: This asset category saw growth from 117,617 thousand USD in 2017 to 144,864 thousand USD in 2019, a dip to 112,495 thousand USD in 2020, followed by a considerable increase to 275,062 thousand USD in 2021. The recent substantial rise may reflect new investments or capital expenditures.
Goodwill: Goodwill showed an increase from 38,541 thousand USD in 2017 to 140,810 thousand USD in 2020, then surged dramatically to 1,371,064 thousand USD in 2021. This substantial jump suggests acquisition activity or recognition of significant intangible value during the final year.
Intangible assets, net: Intangible assets increased notably from 4,100 thousand USD in 2017 to 199,236 thousand USD in 2019, with a slight decline in 2020 at 187,449 thousand USD, followed by a strong increase to 607,170 thousand USD in 2021. This indicates considerable additions and persistence of intangible value, likely linked to acquisitions or development.
Deferred tax assets: This category showed volatility, rising from 159 thousand USD in 2017 to 23,464 thousand USD in 2018, then fluctuating considerably before reaching 95,863 thousand USD in 2021. This suggests changes in deferred tax considerations, possibly due to taxable income or tax planning strategies.
Long-term investments: Data is unavailable for 2017 and 2018 but recorded at 89,343 thousand USD in 2019, decreased to 39,094 thousand USD in 2020, and increased again to 85,034 thousand USD in 2021. This non-consistent pattern may reflect portfolio adjustments or reclassifications.
Other assets: Other assets remained relatively low but increased overall from 561 thousand USD in 2017 to 50,774 thousand USD in 2021, with notable rises in intermediate years. This growth signals accumulation of miscellaneous non-current assets.
Non-current assets: Non-current assets more than doubled from 166,319 thousand USD in 2017 to 621,314 thousand USD in 2019, decreased to 509,708 thousand USD in 2020, then sharply increased to 2,490,308 thousand USD in 2021. This reflects a major expansion in long-term asset base, particularly in the last reported year, driven by goodwill and intangible assets.
Total assets: Total assets exhibited a strong upward trend, growing from 605,583 thousand USD in 2017 to 1,542,352 thousand USD in 2019, then to 2,404,489 thousand USD in 2020, and finally reaching 3,831,809 thousand USD in 2021. This significant increase over five years indicates ongoing growth, asset acquisitions, and expansion of the company’s resource base.

Assets: Selected Items

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Etsy Inc. (NASDAQ:ETSY)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items