Common-Size Balance Sheet: Assets
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Kraft Heinz Co., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets exhibits a declining trend from 3.93% in 2015 to a low of 1.09% in 2018, before rebounding to 2.25% in 2019. This suggests a reduction in readily available liquid assets during the initial years, followed by a modest recovery.
- Trade receivables, net of allowances
- Trade receivables as a percentage of total assets remained relatively low and stable between 2015 and 2017, fluctuating just below 1%. However, there is a noticeable increase in 2018 and 2019, reaching approximately 2%, indicating a higher amount tied up in receivables during those periods.
- Sold receivables
- The percentage of sold receivables decreased significantly from 0.47% in 2015 to 0.11% in 2016, then rose slightly to 0.29% in 2017 before ceasing to be reported in later years. This suggests a shift away from the sale of receivables as a source of liquidity after 2017.
- Income taxes receivable
- Starting at 0.22% in 2016, income taxes receivable increased to 0.48% in 2017 before declining to around 0.15% in the final years, reflecting some variability but remaining a minor component of total assets.
- Inventories
- Inventories consistently increased from 2.13% of total assets in 2015 to 2.68% in 2019, signaling a gradual build-up of stock over the period.
- Prepaid expenses
- Prepaid expenses were unreported until 2017 when they appeared at 0.29%, further increasing slightly in subsequent years to stabilize around 0.38-0.39%, indicating the growing recognition or significance of prepaid items.
- Other current assets
- This category showed a declining trend overall, starting at 0.71% in 2015, decreasing to 0.52% in 2017, then briefly rising to 1.18% in 2018 before dropping sharply to 0.44% in 2019, suggesting fluctuations in miscellaneous current asset holdings.
- Assets held for sale
- Assets held for sale were not recorded until 2018, when they represented 1.33% of total assets, followed by a significant drop to 0.12% in 2019, indicating the disposal or reclassification of these assets.
- Current assets
- The share of current assets declined from 7.95% in 2015 to 6.04% in 2017, then increased noticeably to 8.77% in 2018 before settling at 7.98% in 2019. This pattern suggests a period of decreased short-term asset holdings followed by accumulation, possibly to support operational needs.
- Property, plant and equipment, net
- Net property, plant, and equipment steadily increased from 5.31% in 2015 to 6.95% in 2019, indicating ongoing investment or capital retention in long-term tangible assets.
- Goodwill
- Goodwill as a percentage of total assets hovered around 35%, increasing slightly from 35.01% in 2015 to a peak of 37.28% in 2017, then declining modestly thereafter. This stability suggests the preservation of acquired intangible value without significant impairment or addition.
- Intangible assets, net
- Intangible assets remained the dominant asset category, accounting for roughly 50% in 2015 and maintaining near that level through 2019, with a slight downward trend from 50.52% to 47.96%. This points to a consistent focus on intangible resources such as trademarks or patents.
- Other non-current assets
- Other non-current assets showed slight variation, rising gradually from 1.22% in 2015 to 2.07% in 2019, indicating possible growth in less liquid and diversified long-term asset components.
- Non-current assets
- Non-current assets remained highly dominant overall, maintaining a range between 91% and 94% of total assets. This consistent proportion underscores the company’s emphasis on long-term asset bases versus current assets.
- Total assets
- As expected, total assets were consistently normalized at 100% for all years.