Common-Size Balance Sheet: Assets
NXP Semiconductors N.V., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).
The annual financial data indicates several notable trends in asset composition over the five-year period analyzed.
- Cash and Cash Equivalents
- This item as a percentage of total assets decreased from 14.75% in 2017 to 5.22% in 2019, reflecting a significant reduction in liquidity during that interval. Subsequently, it rebounded to 13.56% by the end of 2021, suggesting improved cash reserves in more recent years.
- Accounts Receivables, Net
- This showed a general upward trend, increasing from 3.66% of total assets in 2017 to 4.42% in 2021, indicating a growing share of assets tied up in receivables over time.
- Assets Held for Sale
- Reported only in 2019 at 0.25%, this item appears as a one-off occurrence without subsequent continuations, implying a potential divestiture or reassessment of asset categories during that year.
- Inventories, Net
- The percentage of inventories fluctuated moderately, rising from 5.14% in 2017 to 5.96% in 2019, decreasing to 5.19% in 2020, and then slightly increasing again to 5.7% in 2021. Overall, inventories remained relatively stable as a portion of total assets.
- Other Current Assets
- This category gradually declined from 1.59% in 2017 to 1.28% in 2020, with a minor uptick to 1.37% in 2021, representing a slight reduction in other liquid current asset holdings.
- Current Assets (Aggregate)
- The share of current assets to total assets decreased notably from 25.13% in 2017 to 16.32% in 2019. It then increased again to 25.06% by 2021, effectively returning to near its starting proportion, which indicates a temporary shift in asset liquidity during the middle of the period.
- Other Non-Current Assets
- These assets showed a general ascending trend, starting at 4.08% in 2017 and increasing steadily to 6.45% in 2021, suggesting a growing investment or accrual in non-current assets outside property and intangibles.
- Property, Plant and Equipment, Net
- This category increased from 9.54% in 2017 to a peak of 12.63% in 2021, indicating consistent capital investment in physical assets over the reviewed period.
- Identified Intangible Assets, Net
- Intangible assets as a percentage of total assets showed a pronounced decline from 24.38% in 2017 to 8.12% in 2021. This substantial decrease points to either amortization, impairment, or divestiture of intangible asset holdings over time.
- Goodwill
- Goodwill increased significantly from 36.87% in 2017 to a peak of 50.3% in 2020, before falling slightly to 47.74% in 2021. This suggests acquisition activity and the resulting goodwill value rose substantially before stabilizing at a high level.
- Non-Current Assets (Aggregate)
- Non-current assets grew as a proportion of total assets from 74.87% in 2017, peaking at 83.68% in 2019, followed by a decrease to 74.94% in 2021. This pattern indicates a build-up and subsequent partial rebalancing of long-term assets relative to total assets.
- Total Assets
- By definition, total assets remained constant at 100% across all years, serving as the basis for relative proportion calculations.
Overall, the data reveals that the company experienced significant shifts between current and non-current asset allocations, reductions in identified intangible assets, and increased goodwill holdings. These changes suggest strategic asset management focusing on acquisitions, physical asset growth, and possible divestments or amortizations impacting intangible assets.