Name: NXP Semiconductors N.V. (NASDAQ:NXPI) | 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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NXP Semiconductors N.V., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	2,830)	2,275)	1,045)	2,789)	3,547)
Accounts receivables, net	923)	765)	667)	792)	879)
Assets held for sale	—)	—)	50)	—)	—)
Inventories, net	1,189)	1,030)	1,192)	1,279)	1,236)
Other current assets	286)	254)	313)	365)	382)
Current assets	5,228)	4,324)	3,267)	5,225)	6,044)
Other non-current assets	1,346)	1,013)	732)	545)	981)
Property, plant and equipment, net	2,635)	2,284)	2,448)	2,436)	2,295)
Identified intangible assets, net	1,694)	2,242)	3,620)	4,467)	5,863)
Goodwill	9,961)	9,984)	9,949)	8,857)	8,866)
Non-current assets	15,636)	15,523)	16,749)	16,305)	18,005)
Total assets	20,864)	19,847)	20,016)	21,530)	24,049)

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 total asset base experienced a general contraction between 2017 and 2020, decreasing from 24,049 million US$ to 19,847 million US$, before recording a moderate recovery to 20,864 million US$ by the end of 2021. This fluctuation reflects shifts in both liquidity positions and the amortization of long-term assets.

Liquidity and Current Asset Trends: Current assets exhibited significant volatility, reaching a trough of 3,267 million US$ in 2019 before rebounding to 5,228 million US$ in 2021. This movement was primarily driven by cash and cash equivalents, which declined sharply from 3,547 million US$ in 2017 to 1,045 million US$ in 2019, subsequently recovering to 2,830 million US$ by 2021. Accounts receivables followed a similar U-shaped trajectory, dipping to 667 million US$ in 2019 and peaking at 923 million US$ in 2021. Inventories remained relatively stable throughout the period, fluctuating within a narrow range between 1,030 million US$ and 1,279 million US$.
Non-Current Asset Composition: Non-current assets showed an overall downward trend, moving from 18,005 million US$ in 2017 to 15,636 million US$ in 2021. The most prominent driver of this decline was the consistent reduction in identified intangible assets, which fell from 5,863 million US$ to 1,694 million US$ over the five-year period, suggesting a systematic amortization process. Conversely, goodwill remained remarkably stable, fluctuating slightly between 8,857 million US$ and 9,984 million US$, representing the largest single component of the total asset base.
Fixed Assets and Other Non-Current Items: Property, plant, and equipment, net, demonstrated stability with a slight upward trend toward the end of the period, rising from 2,295 million US$ in 2017 to 2,635 million US$ in 2021. Other non-current assets showed more variance, starting at 981 million US$ in 2017, dipping in 2018, and then increasing steadily to reach 1,346 million US$ by 2021.

In summary, the balance sheet is characterized by a high concentration of non-current assets, specifically goodwill and amortizing intangibles. While the overall asset base contracted over the analyzed period, a recovery in current assets and a slight increase in fixed assets during 2021 indicate a strengthening of the liquidity position and continued investment in productive capacity.

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