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.
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Steel Dynamics Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Operating Profit Margin since 2005
- Current Ratio since 2005
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Steel Dynamics Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
- Cash and equivalents
- The cash balance fluctuated notably over the periods analyzed. Initial values around $966.8 million in early 2017 declined towards mid-2018 before recovering by year-end 2019, with a peak exceeding $1.38 billion in December 2019. In 2020 and early 2021, the cash position remained strong but exhibited some volatility, with a slight decline in mid-2021 and a modest recovery towards late 2022, ending above $1.42 billion.
- Short-term investments
- Short-term investments were absent in the earliest periods, with notable entries starting in Q2 2018. These investments increased substantially toward the end of 2018 and again in 2022, culminating in a significant jump to approximately $583 million in mid-2022, indicating a strategic allocation of liquid assets into short-term instruments during these later periods.
- Accounts receivable, unrelated parties
- Accounts receivable from unrelated parties showed a general upward trend, starting near $860.7 million in Q1 2017 and rising steadily to a peak of approximately $2.57 billion in Q3 2022. Intermittent dips were observed, especially at the end of 2019 and mid-2020, but the overall trajectory reveals expanding credit sales or longer collection periods across the timeframe.
- Accounts receivable, related parties
- The amounts related to related parties remained relatively minor compared to unrelated accounts but displayed inconsistent fluctuations. Values oscillated from roughly $22.5 million in early 2017 to a spike in Q2 2022 approaching $87 million, indicating occasional significant inter-company transactions or settlements.
- Accounts receivable, net
- Aggregate net accounts receivable followed the upward movement of unrelated parties, growing from approximately $883 million in Q1 2017 to about $2.33 billion by Q3 2022. Temporary decreases correlate with the movements of both unrelated and related party receivables but do not disrupt the clear increasing trend reflecting expanding operations or sales on credit.
- Inventories
- Inventory levels increased steadily throughout the period, starting at $1.36 billion in early 2017 and reaching a peak of $3.53 billion in early 2022. Despite slight reductions towards the end of 2022, the growing inventory suggests scaling production, higher raw material stockpiling, or slower inventory turnover, especially notable from 2020 onwards when figures rose sharply.
- Other current assets
- Other current assets showed variability with values fluctuating between roughly $33 million and $210 million. A distinct surge occurred in late 2021, marking more than double previous levels, which may point to changes in prepayments, receivables, or other short-term assets during that time.
- Current assets
- Total current assets remained relatively stable within the $3.2 to $3.5 billion range from 2017 through 2019, following a pattern of increases through 2018 and early 2019. From 2020 onwards, a significant upward trend is observed, surpassing $7.8 billion in late 2022. This indicates growing liquidity and short-term resource availability, largely influenced by increases in cash, receivables, inventories, and other current assets.
- Property, plant and equipment, net
- Net property, plant, and equipment demonstrated a consistent growth trajectory, rising from about $2.76 billion in early 2017 to over $5.14 billion by the third quarter of 2022. The steady increases suggest continued capital investments and asset expansion over the period, with no apparent major asset disposals or impairments.
- Intangible assets, net
- Intangible assets trended downward from around $276.5 million in Q1 2017 to approximately $276.6 million in Q3 2022, with intermediate fluctuations. Notably, a spike occurred in late 2019, reaching around $327.9 million, which then declined thereafter. This pattern may reflect amortization effects or occasional revaluation and impairment adjustments during those periods.
- Goodwill
- The goodwill balance remained relatively stable around $390 million in early years but experienced a substantial increase by mid-2018, peaking near $540.9 million in Q3 2019. Subsequently, goodwill values declined slightly and remained around the $450 million level through to 2022, suggesting acquisitions or revaluations followed by impairment or other adjustments.
- Other assets
- Other assets maintained modest amounts initially, ranging from approximately $25 million to $35 million, before surging sharply in late 2018 to mid-2019, reaching highs near $360 million by late 2022. This elevating pattern could indicate capitalization of miscellaneous long-term assets or reclassification of certain asset categories over time.
- Noncurrent assets
- Noncurrent assets showed a consistent growth from roughly $3.46 billion in early 2017 to approximately $6.23 billion in late 2022. This steady increase corresponds with expansions in property, plant, equipment, goodwill, and other long-term assets, supporting indications of asset base enlargement and long-term capital investment strategies.
- Total assets
- Total assets remained relatively stable near $6.7 billion in 2017, before exhibiting a clear upward trend from 2018 onward. By late 2022, total assets had effectively doubled, exceeding $14 billion. This reflects the combined effects of growth in both current and noncurrent assets, confirming considerable asset expansion aligned with business growth over the examined period.