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.

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Palo Alto Networks Inc., consolidated balance sheet: assets

US$ in thousands

		Jul 31, 2024		Jul 31, 2023		Jul 31, 2022		Jul 31, 2021		Jul 31, 2020		Jul 31, 2019
	Cash and cash equivalents
	Short-term investments
	Accounts receivable, net of allowance for credit losses
	Short-term financing receivables, net
	Short-term deferred contract costs
	Prepaid expenses and other current assets
	Current assets
	Property and equipment, net
	Operating lease right-of-use assets
	Long-term investments
	Long-term financing receivables, net
	Long-term deferred contract costs
	Goodwill
	Intangible assets, net
	Deferred tax assets
	Other assets
	Long-term assets
	Total assets

Based on: 10-K (reporting date: 2024-07-31), 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31).

The financial data reveals several notable trends in assets over the analyzed periods.

Liquidity and Short-Term Assets: Cash and cash equivalents experienced significant fluctuations, peaking in 2020 at approximately $2.96 billion before declining sharply in 2023 to about $1.14 billion, then recovering moderately in 2024 to $1.54 billion. Short-term investments showed a declining trend from $1.84 billion in 2019 to $1.04 billion in 2024, after some variability in intermediate years. Accounts receivable exhibited consistent growth, nearly doubling from $582.4 million in 2019 to $2.62 billion in 2024, indicating increased sales or revenues on credit. Short-term financing receivables emerged from 2021 onwards, showing strong growth to $725.9 million by 2024, suggesting an expansion in financing activities. Short-term deferred contract costs and prepaid expenses also increased steadily, reflecting higher upfront costs related to contracts and prepayments.
Current Assets: Current assets increased overall from $3.66 billion in 2019 to $6.85 billion in 2024, although there was a slight dip in 2021 and 2023. This upward trend highlights an improvement in the company's short-term asset base, supporting operational liquidity.
Long-Term Assets and Investments: Property and equipment showed modest growth from $296 million in 2019 to $361 million in 2024, indicating a stable investment in fixed assets. Operating lease right-of-use assets, appearing first in 2020 at $258.7 million, fluctuated modestly with a notable increase in 2024 to $385.9 million, potentially reflecting greater lease commitments or adoption of new accounting standards. Long-term investments initially dipped from $575.4 million in 2019 to $554.4 million in 2020 but then sharply increased, reaching $4.17 billion by 2024, suggesting strategic growth in longer-term investment holdings. Long-term financing receivables also commenced in 2021 and grew substantially to $1.18 billion in 2024.
Deferred Contract Costs and Intangible Assets: Long-term deferred contract costs rose steadily from $324 million in 2019 to $562 million in 2024, reflecting ongoing contract-related expenses stretched over future periods. Goodwill exhibited significant growth, climbing from $1.35 billion in 2019 to $3.35 billion in 2024, which may indicate acquisitions or business expansions. Intangible assets showed an increase through 2021 followed by declines in 2022 and 2023, then recovering somewhat in 2024 to $374.9 million, suggesting periodic amortization or revaluation activities.
Other Assets and Deferred Tax Assets: Other assets increased steadily from $98.9 million to $352.9 million over the period, indicating incremental investments or ownership of miscellaneous assets. Deferred tax assets appeared only in 2023 at $23.1 million but surged dramatically in 2024 to $2.4 billion, implying significant recognition of future tax benefits.
Total Assets: Total assets grew consistently, nearly tripling from $6.59 billion in 2019 to approximately $20 billion in 2024. This growth is supported by expansions in both current and long-term assets, particularly driven by increases in goodwill, long-term investments, and deferred tax assets.

Overall, the company demonstrates a strong upward trend in asset accumulation, with marked increases in receivables, investments, goodwill, and deferred tax assets, which may indicate growth through acquisitions, financing activities, and operational expansion. The liquidity position shows variability but maintains a solid base, while increases in deferred contract costs and lease assets suggest growing contractual and leasing commitments.

Assets: Selected Items

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Current Assets: Selected Items