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Keurig Dr Pepper Inc. (NASDAQ:KDP)

This company has been moved to the archive! The financial data has not been updated since July 28, 2022.

Common-Size Balance Sheet: Assets

Keurig Dr Pepper Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 1.12 0.48 0.15 0.17
Restricted cash and restricted cash equivalents 0.00 0.03 0.05 0.09
Trade accounts receivable, net 2.27 2.11 2.25 2.35
Inventories 1.77 1.53 1.32 1.28
Other receivables 0.22 0.17 0.13 0.10
Customer incentive programs 0.04 0.07 0.02 0.02
Derivative instruments 0.28 0.09 0.06 0.02
Prepaid marketing 0.02 0.03 0.03 0.06
Spare parts 0.14 0.11 0.10 0.09
Assets held for sale 0.00 0.00 0.33 0.02
Income tax receivable 0.03 0.02 0.01 0.04
Other 0.14 0.15 0.12 0.16
Prepaid expenses and other current assets 0.88% 0.65% 0.81% 0.52%
Current assets 6.04% 4.80% 4.59% 4.41%
Property, plant and equipment, net 4.93 4.44 4.10 4.72
Investments in unconsolidated affiliates 0.06 0.18 0.30 0.38
Goodwill 39.89 40.55 40.74 40.91
Other intangible assets, net 47.15 48.15 48.70 48.99
Customer incentive programs 0.12 0.14 0.07 0.07
Equity securities 0.11 0.08 0.08 0.09
Operating lease right-of-use assets 1.33 1.30 1.00 0.00
Derivative instruments 0.01 0.02 0.04 0.19
Equity securities without readily determinable fair values 0.00 0.00 0.00 0.00
Non-current restricted cash and restricted cash equivalents 0.00 0.00 0.02 0.02
Related party notes receivable 0.00 0.00 0.10 0.03
Other 0.28 0.25 0.20 0.12
Other non-current assets 1.85% 1.80% 1.51% 0.53%
Deferred tax assets 0.08 0.09 0.06 0.05
Non-current assets 93.96% 95.20% 95.41% 95.59%
Total assets 100.00% 100.00% 100.00% 100.00%

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).

The asset structure is characterized by a heavy concentration of non-current assets, which consistently represent over 93% of total assets. However, a gradual shift toward increased liquidity is observed, as current assets grew from 4.41% of total assets in 2018 to 6.04% by 2021.

Intangible Assets and Goodwill
The balance sheet is dominated by goodwill and other intangible assets, which together account for approximately 88% to 90% of total assets throughout the period. A marginal downward trend is observed in both categories, with goodwill decreasing from 40.91% to 39.89% and other intangible assets declining from 48.99% to 47.15% between 2018 and 2021.
Liquidity and Current Asset Composition
Cash and cash equivalents showed a significant upward trajectory, increasing from 0.17% in 2018 to 1.12% in 2021. Similarly, inventories experienced a steady increase, rising from 1.28% to 1.77%. Trade accounts receivable remained relatively stable, fluctuating slightly around the 2.2% mark.
Fixed Assets and Lease Obligations
Property, plant, and equipment, net, remained relatively stable, ending the period at 4.93% compared to 4.72% in 2018. A notable addition to the asset mix occurred in 2019 with the introduction of operating lease right-of-use assets at 1.00%, which grew moderately to 1.33% by 2021.
Other Non-Current Asset Trends
Investments in unconsolidated affiliates exhibited a consistent decline, dropping from 0.38% in 2018 to 0.06% in 2021. Conversely, other non-current assets showed a marked increase, rising from 0.53% to 1.85% over the four-year period.

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