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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Steel Dynamics Inc., consolidated balance sheet: assets

US$ in thousands

		Dec 31, 2021		Dec 31, 2020		Dec 31, 2019		Dec 31, 2018		Dec 31, 2017
	Cash and equivalents
	Short-term investments
	Accounts receivable, unrelated parties
	Accounts receivable, related parties
	Accounts receivable, net of allowances for credit losses
	Inventories
	Other current assets
	Current assets
	Property, plant and equipment, net
	Intangible assets, net
	Goodwill
	Other assets
	Noncurrent assets
	Total assets

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

The financial data reveals several notable trends over the five-year period analyzed.

Cash and Equivalents: Cash and equivalents exhibited volatility, decreasing from approximately $1,028 million in 2017 to $828 million in 2018, then increasing significantly to over $1,381 million in 2019. The balance remained relatively stable in 2020 before declining slightly to about $1,244 million in 2021. This fluctuation suggests varying liquidity management or operational cash flow changes during these years.
Short-term Investments: Short-term investments were only reported in 2018 and 2019, showing values of $229 million and $262 million respectively. The absence of data in other years may indicate a reclassification or divestment of such assets after 2019.
Accounts Receivable (Net): Accounts receivable net of allowances showed a trend of increase, with an initial rise from $869 million in 2017 to a peak of about $1,046 million in 2018, followed by a dip in 2019 to $844 million, then a steady increase to nearly $1,917 million by 2021. This growth, particularly significant in the latest year, may reflect expanded sales or a lengthening of receivables collection periods.
Inventories: Inventory levels increased markedly, from approximately $1,519 million in 2017 to $1,859 million in 2018, followed by a slight decline in 2019 and a subsequent rise through 2020 to 2021, reaching over $3,531 million. The sharp increase in 2021 suggests buildup of inventory potentially in anticipation of higher demand or due to changes in supply chain dynamics.
Other Current Assets: Other current assets notably decreased from about $92 million in 2017 to around $73 million in 2018 and remained fairly stable through 2020. In 2021, these assets increased almost threefold to nearly $210 million, possibly indicating increased prepaid expenses or other current receivables.
Current Assets: Overall current assets consistently increased from $3,508 million in 2017 to $6,901 million in 2021, showing steady growth with a significant jump in the final year driven largely by increases in inventory and other current assets.
Property, Plant and Equipment (Net): Net property, plant, and equipment showed steady year-over-year growth, expanding from approximately $2,676 million in 2017 to nearly $4,751 million in 2021. This steady investment suggests ongoing capital expenditures and expansion or upgrade of fixed assets.
Intangible Assets (Net): Intangible assets fluctuated slightly, rising from about $257 million in 2017 to a peak of nearly $328 million in 2019, then declining gradually to $295 million by 2021. The decrease in recent years could indicate amortization or impairment.
Goodwill: Goodwill increased moderately from $387 million in 2017 to $457 million in 2020, with a slight decrease to $454 million in 2021. This trend suggests acquisitions or reassessments of goodwill values over the period.
Other Assets: Other noncurrent assets remained relatively minor but increased from approximately $28 million in 2017 to about $130 million in 2021, indicating possible expansion in long-term investments or deferred charges.
Noncurrent Assets: Noncurrent assets showed consistent growth, rising from roughly $3,347 million in 2017 to $5,630 million in 2021, reflecting increases in fixed assets, goodwill, and other asset categories.
Total Assets: Total assets increased significantly over the period, from approximately $6,856 million in 2017 to about $12,531 million in 2021. This near doubling indicates substantial asset base expansion, driven by increases in current assets, notably inventory and receivables, as well as substantial investments in property, plant, and equipment.

Assets: Selected Items

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Current Assets: Selected Items