Name: Keurig Dr Pepper Inc. (NASDAQ:KDP) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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Keurig Dr Pepper Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	567)	240)	75)	83)
Restricted cash and restricted cash equivalents	1)	15)	26)	46)
Trade accounts receivable, net	1,148)	1,048)	1,115)	1,150)
Inventories	894)	762)	654)	626)
Other receivables	112)	85)	65)	51)
Customer incentive programs	21)	34)	12)	12)
Derivative instruments	144)	45)	31)	9)
Prepaid marketing	12)	15)	17)	29)
Spare parts	72)	55)	49)	43)
Assets held for sale	—)	2)	165)	8)
Income tax receivable	14)	11)	4)	22)
Other	72)	76)	60)	80)
Prepaid expenses and other current assets	447)	323)	403)	254)
Current assets	3,057)	2,388)	2,273)	2,159)
Property, plant and equipment, net	2,494)	2,212)	2,028)	2,310)
Investments in unconsolidated affiliates	30)	88)	151)	186)
Goodwill	20,182)	20,184)	20,172)	20,011)
Other intangible assets, net	23,856)	23,968)	24,117)	23,967)
Customer incentive programs	59)	70)	33)	34)
Equity securities	58)	41)	40)	44)
Operating lease right-of-use assets	673)	645)	497)	—)
Derivative instruments	3)	12)	19)	95)
Equity securities without readily determinable fair values	1)	1)	1)	1)
Non-current restricted cash and restricted cash equivalents	—)	—)	10)	10)
Related party notes receivable	—)	—)	50)	17)
Other	143)	125)	98)	58)
Other non-current assets	937)	894)	748)	259)
Deferred tax assets	42)	45)	29)	26)
Non-current assets	47,541)	47,391)	47,245)	46,759)
Total assets	50,598)	49,779)	49,518)	48,918)

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).

Total assets experienced a gradual increase from 48,918 million US dollars in 2018 to 50,598 million US dollars by the end of 2021. This growth is primarily driven by an expansion in current assets, while non-current assets remained relatively stable in aggregate value.

Current Asset Liquidity and Working Capital: A significant increase in liquidity is observed, with cash and cash equivalents rising from 83 million US dollars in 2018 to 567 million US dollars in 2021. This growth contrasts with a sharp decline in restricted cash, which dropped from 46 million to 1 million US dollars over the same period.; Inventories demonstrated a consistent upward trend, growing from 626 million US dollars in 2018 to 894 million US dollars in 2021, suggesting an increase in stock levels to support operational requirements.; Trade accounts receivable remained relatively stable, fluctuating slightly around the 1.1 billion US dollar mark, indicating consistent credit management and collection cycles.; Current derivative instruments saw a substantial rise, moving from 9 million US dollars in 2018 to 144 million US dollars in 2021, pointing toward increased hedging activities.
Non-Current Asset Composition: The asset structure is heavily dominated by intangible assets and goodwill. Goodwill remained nearly constant at approximately 20.1 billion US dollars, while other intangible assets stayed stable near 23.8 billion to 24.1 billion US dollars, representing the vast majority of the total asset base.; Property, plant, and equipment, net, showed a fluctuating but overall positive trend, recovering from a dip of 2,028 million US dollars in 2019 to 2,494 million US dollars in 2021.; A notable shift occurred in lease accounting, with operating lease right-of-use assets appearing at 497 million US dollars in 2019 and growing to 673 million US dollars by 2021.; Investments in unconsolidated affiliates experienced a steady decline, decreasing from 186 million US dollars in 2018 to 30 million US dollars in 2021.

The overall asset profile indicates a company with a high concentration of non-physical assets, likely reflecting past acquisitions. However, the marked increase in current assets and cash reserves since 2020 suggests a strategic shift toward strengthening the short-term liquidity position.

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