Statement of Financial Position, Assets

Difficulty level: Basic

The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's 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.

Intel Corp., Consolidated Statement of Financial Position, Assets

USD $ in millions

 
Dec 27, 2014 Dec 28, 2013 Dec 29, 2012 Dec 31, 2011 Dec 25, 2010
Cash and cash equivalents 2,561  5,674  8,478  5,065  5,498 
Short-term investments 2,430  5,972  3,999  5,181  11,294 
Trading assets 9,063  8,441  5,685  4,591  5,093 
Accounts receivable, net of allowance for doubtful accounts 4,427  3,582  3,833  3,650  2,867 
Inventories 4,273  4,172  4,734  4,096  3,757 
Deferred tax assets 1,958  2,594  2,117  1,700  1,488 
Other current assets 3,018  1,649  2,512  1,589  1,614 
Current assets 27,730 
32,084 
31,358 
25,872 
31,611 
Property, plant and equipment, net 33,238  31,428  27,983  23,627  17,899 
Marketable equity securities 7,097  6,221  4,424  562  1,008 
Other long-term investments 2,023  1,473  493  889  3,026 
Goodwill 10,861  10,513  9,710  9,254  4,531 
Identified intangible assets, net 4,446  5,150  6,235  6,267  860 
Equity method investments 1,446  1,038  992  1,669  1,791 
Non-marketable cost method investments 1,769  1,270  1,202  1,129  872 
Non-current deferred tax assets 622  434  358  335  289 
Loans receivable 416  952  644  715  741 
Pre-payments for property, plant and equipment 636  521 
Other 1,672  1,274  952  800  558 
Other long-term assets 6,561 
5,489 
4,148 
4,648 
4,251 
Non-current assets 64,226 
60,274 
52,993 
45,247 
31,575 
Total assets 91,956 
92,358 
84,351 
71,119 
63,186 
Source: Intel Corp., Annual Reports
Item Description The company
Cash and cash equivalents Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. Intel Corp.'s cash and cash equivalents declined from 2012 to 2013 and from 2013 to 2014.
Short-term investments Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed. Intel Corp.'s short-term investments increased from 2012 to 2013 but then declined significantly from 2013 to 2014.
Trading assets Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale which are intended to be held for less than one year or the normal operating cycle, whichever is longer. Intel Corp.'s trading assets increased from 2012 to 2013 and from 2013 to 2014.
Accounts receivable, net of allowance for doubtful accounts Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Intel Corp.'s accounts receivable, net of allowance for doubtful accounts declined from 2012 to 2013 but then increased from 2013 to 2014 exceeding 2012 level.
Inventories Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Intel Corp.'s inventories declined from 2012 to 2013 but then slightly increased from 2013 to 2014.
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Intel Corp.'s current assets increased from 2012 to 2013 but then declined significantly from 2013 to 2014.
Property, plant and equipment, net Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. Intel Corp.'s property, plant and equipment, net increased from 2012 to 2013 and from 2013 to 2014.
Non-current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Intel Corp.'s non-current assets increased from 2012 to 2013 and from 2013 to 2014.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Intel Corp.'s total assets increased from 2012 to 2013 but then slightly declined from 2013 to 2014.

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