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.

Intuit Inc., consolidated balance sheet: assets

US$ in millions

	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021	Jul 31, 2020	Jul 31, 2019	Jul 31, 2018
Cash and cash equivalents	2,848)	2,796)	2,562)	6,442)	2,116)	1,464)
Investments	814)	485)	1,308)	608)	624)	252)
Accounts receivable, net of allowance for doubtful accounts	405)	446)	391)	149)	87)	98)
Notes receivable, net	687)	509)	132)	—)	—)	—)
Income taxes receivable	29)	93)	123)	12)	65)	39)
Prepaid expenses and other current assets	354)	287)	184)	314)	266)	184)
Current assets before funds receivable and amounts held for customers	5,137)	4,616)	4,700)	7,525)	3,158)	2,037)
Funds receivable and amounts held for customers	420)	431)	457)	455)	436)	367)
Current assets	5,557)	5,047)	5,157)	7,980)	3,594)	2,404)
Long-term investments	105)	98)	43)	19)	13)	13)
Property and equipment, net	969)	888)	780)	734)	780)	812)
Operating lease right-of-use assets	469)	549)	380)	226)	—)	—)
Goodwill	13,780)	13,736)	5,613)	1,654)	1,655)	1,611)
Acquired intangible assets, net	6,419)	7,061)	3,252)	28)	54)	61)
Long-term deferred income tax assets	64)	11)	8)	65)	1)	87)
Other assets	417)	344)	283)	225)	186)	190)
Long-term assets	22,223)	22,687)	10,359)	2,951)	2,689)	2,774)
Total assets	27,780)	27,734)	15,516)	10,931)	6,283)	5,178)

Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).

Assets: Selected Items

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Balance sheet item	Description	The company
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.	Intuit Inc. current assets decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Intuit Inc. property and equipment, net increased from 2021 to 2022 and from 2022 to 2023.
Long-term 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.	Intuit Inc. long-term assets increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
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.	Intuit Inc. total assets increased from 2021 to 2022 and from 2022 to 2023.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Intuit Inc. cash and cash equivalents increased from 2021 to 2022 and from 2022 to 2023.
Investments	Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current.	Intuit Inc. investments decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
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.	Intuit Inc. accounts receivable, net of allowance for doubtful accounts increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Intuit Inc. (NASDAQ:INTU)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items