Balance Sheet: Assets
Quarterly Data
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
Current Assets: Selected Items
NXP Semiconductors N.V., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).
Total assets exhibited a general upward trajectory over the analyzed period, growing from 19,511 million US$ in March 2020 to 22,539 million US$ by July 2022. This growth was primarily driven by fluctuations in current assets and a steady increase in long-term operational investments, offsetting a consistent decline in identified intangible assets.
- Current Asset Dynamics
- Current assets showed significant volatility, ranging from a low of 3,249 million US$ to a peak of 6,320 million US$. Cash and cash equivalents were the primary driver of this volatility, experiencing a sharp increase in mid-2020, followed by several cycles of fluctuation, ending at 3,545 million US$ in July 2022. Net accounts receivables demonstrated a steady growth trend, rising from 616 million US$ to 996 million US$, which suggests an increase in credit sales or longer collection cycles. Similarly, net inventories climbed from 1,227 million US$ to 1,462 million US$, indicating an expansion of stock levels to support operational requirements.
- Non-Current Asset Trends
- The non-current asset base remained relatively stable, though internal compositions shifted. Property, plant, and equipment (PP&E) showed consistent growth, increasing from 2,397 million US$ to 2,914 million US$, reflecting ongoing capital expenditures in production capacity. In contrast, identified intangible assets experienced a steady decline from 3,218 million US$ to 1,527 million US$, a pattern consistent with scheduled amortization. Other non-current assets saw the most substantial proportional growth, increasing from 712 million US$ to 1,848 million US$ over the period.
- Fixed Asset Stability and Composition
- Goodwill remained remarkably stagnant, fluctuating minimally around the 9,900 million US$ mark. Given its magnitude, goodwill represents the largest single component of the total asset base, consistently accounting for approximately 44% to 51% of total assets. This high concentration of goodwill indicates that a significant portion of the company's asset value is derived from previous acquisitions rather than tangible operational assets.
- Overall Asset Structure
- The balance sheet shifted toward a more liquid position by July 2022, with current assets increasing from 16.6% of total assets in March 2020 to 28.1% in July 2022. The simultaneous increase in PP&E and other non-current assets, paired with the reduction in amortized intangibles, suggests a transition toward a more tangible and liquid asset structure.
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