Kraft Foods Group Inc. (NASDAQ:KRFT)

The asset structure exhibits significant stability over the three-year period, characterized by a heavy weighting toward noncurrent assets and a substantial concentration of intangible value. Total current assets consistently represent approximately 21% of the total asset base, while noncurrent assets comprise nearly 79%.

Liquidity and Current Asset Composition

Current assets remained relatively constant, fluctuating slightly between 20.67% in 2012 and 21.20% in 2013. Cash and cash equivalents showed a peak in 2013 at 7.28% before returning to 5.63% in 2014. Receivables remained remarkably stable, hovering around 4.6% to 4.7% of total assets. Inventories experienced a dip from 8.26% in 2012 to 6.98% in 2013, followed by a moderate increase to 7.74% in 2014.

Intangible Asset Dominance

A critical characteristic of the balance sheet is the disproportionate concentration of intangible assets. Goodwill alone accounts for nearly half of the total asset base, rising from 48.63% in 2012 to a steady 49.70% in both 2013 and 2014. When combined with net intangible assets, which shifted from 11.28% in 2012 to approximately 9.7% by 2014, these components represent roughly 60% of the total asset composition.

Fixed and Noncurrent Asset Trends

Property, plant, and equipment, net, remained stable throughout the period, maintaining a consistent presence of approximately 18% of total assets. The overall noncurrent asset ratio showed minimal volatility, moving from 79.33% in 2012 to 79.12% in 2014, indicating a rigid asset strategy with little significant shift in the long-term investment profile.