Name: Kraft Foods Group Inc. (NASDAQ:KRFT) | 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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Kraft Foods Group Inc., consolidated balance sheet: assets

US$ in millions

	Dec 27, 2014	Dec 28, 2013	Dec 29, 2012
Cash and cash equivalents	1,293)	1,686)	1,255)
Receivables, net of allowances	1,080)	1,048)	1,089)
Inventories	1,775)	1,616)	1,928)
Deferred income taxes	384)	360)	420)
Other current assets	259)	198)	131)
Current assets	4,791)	4,908)	4,823)
Property, plant and equipment, net	4,192)	4,115)	4,204)
Goodwill	11,404)	11,505)	11,346)
Intangible assets, net	2,234)	2,229)	2,631)
Other assets	326)	391)	325)
Noncurrent assets	18,156)	18,240)	18,506)
Total assets	22,947)	23,148)	23,329)

Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).

Total assets have exhibited a marginal and steady decline over the three-year period, decreasing from US$ 23,329 million in 2012 to US$ 22,947 million in 2014. This overall contraction is primarily driven by a gradual reduction in noncurrent assets, while current assets remained relatively stable.

Current Asset Composition: Current assets fluctuated slightly, peaking at US$ 4,908 million in 2013 before settling at US$ 4,791 million in 2014. Cash and cash equivalents showed significant volatility, increasing by approximately 34% in 2013 before decreasing by 23% in 2014. Inventories experienced a notable dip in 2013 to US$ 1,616 million from US$ 1,928 million in 2012, followed by a partial recovery to US$ 1,775 million in 2014. Receivables remained consistent across the period, hovering around the US$ 1.05 billion to US$ 1.09 billion range.
Noncurrent Asset Analysis: Noncurrent assets declined from US$ 18,506 million in 2012 to US$ 18,156 million in 2014. The asset base is heavily concentrated in Goodwill, which consistently represents nearly 50% of total assets, remaining stable between US$ 11,346 million and US$ 11,505 million. Intangible assets, net, saw a distinct reduction between 2012 and 2013, falling from US$ 2,631 million to US$ 2,229 million, with little change occurring thereafter. Property, plant and equipment, net, remained stable, indicating consistent net book values over the observed timeframe.
Asset Structure and Liquidity: The balance sheet is characterized by a high proportion of noncurrent assets relative to current assets. The stability of receivables and the modest fluctuations in cash suggest a controlled approach to short-term liquidity. The dominance of Goodwill and intangible assets indicates that a substantial portion of the entity's value is tied to acquired brands or intellectual property rather than tangible physical assets.

In summary, the financial position is marked by a high concentration of intangible value and a slow, controlled contraction of the total asset base. The stability of property, plant and equipment suggests a period of maintenance rather than aggressive capital expansion.

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