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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Twenty-First Century Fox Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).
The financial data reveals several notable trends in asset composition and valuation over the six-year period analyzed.
- Cash and Cash Equivalents
- The cash position showed volatility, beginning at $6,659 million in mid-2013, declining to $4,424 million by mid-2016, before rebounding to $7,622 million in mid-2018. This indicates fluctuations in liquidity management or cash generation capacity.
- Receivables, Net
- Net receivables increased steadily from $5,459 million in 2013 to $7,120 million in 2018, suggesting growing credit sales or extended collection periods. The consistent upward trend implies a growing business scale but potential credit risk considerations.
- Inventories, Net
- Inventories experienced growth from $2,784 million in 2013 to $3,669 million in 2018, with some fluctuations. Increased inventory levels could point to stockpiling or expansion of product lines, requiring effective inventory management.
- Other Current Assets
- Other current asset values varied significantly, with a low of $287 million in 2015 and a peak at $976 million in 2016. Such volatility may indicate irregular transactions or changing classifications within current assets.
- Total Current Assets
- Total current assets fluctuated moderately, with a high of $19,333 million in 2018 after dipping to $14,949 million in 2016. The pattern reflects variable short-term resource availability and operational scale.
- Investments and Related Items
-
- Receivables, Net (possibly non-current)
- Relatively stable but slight increase noted from $437 million in 2013 to $724 million in 2018.
- Equity Method Investments
- These investments demonstrated moderate fluctuations, peaking at $4,088 million in 2015 before settling around $3,494 million in 2018, reflecting changes in equity stakes or valuation adjustments.
- Available-for-Sale Securities
- Displayed a decreasing trend from $268 million in 2013 to near zero in 2015 and 2017, with a recovery to $257 million in 2018, pointing to portfolio realignments or disposals.
- Other Investments
- Generally stable with minor increases, ending slightly lower at $361 million in 2018 compared to $247 million in 2013.
- Total Investments
- Total investments rose from $3,704 million in 2013 to a peak in 2015, followed by relative stability around $4,000 million, indicating maintained investment levels despite portfolio changes.
- Inventories, Net (Non-Current)
- Increased steadily from $5,371 million in 2013 to $7,518 million in 2018, consistent with expanded operations or inventory holdings.
- Property, Plant and Equipment, Net
- This category decreased significantly from $2,829 million in 2013 to $1,692 million in 2016, followed by a gradual recovery to $1,956 million in 2018, suggesting asset disposals or impairments with subsequent reinvestments or acquisitions.
- Intangible Assets, Net
- Intangibles surged from $5,064 million in 2013 to $8,072 million in 2014, then declined steadily to $6,101 million in 2018. This pattern may reflect initial recognition of significant intangible assets followed by amortization or impairments.
- Goodwill
- Goodwill peaked at $18,052 million in 2014 but dropped sharply to about $12,500 million by 2015, remaining stable thereafter. This indicates major write-downs or divestitures affecting goodwill valuation.
- Other Non-Current Assets
- These assets fluctuated moderately, increasing from $717 million in 2013 to a high of $1,394 million in 2017 before a slight decline to $1,319 million in 2018.
- Total Non-Current Assets
- Total non-current assets decreased from $35,377 million in 2013 to about $32,675 million in 2015, then gradually increased to $34,498 million in 2018, reflecting the combined effects of disposals, acquisitions, and asset revaluations.
- Total Assets
- Total assets peaked at $54,793 million in 2014, decreased to $48,365 million in 2016, and then recovered to $53,831 million in 2018. This general pattern highlights an overall fluctuation in company size or asset base, possibly linked to acquisitions, divestitures, or market conditions.
Overall, the data indicates a dynamic asset base with significant adjustments in intangible assets and goodwill, alongside relatively stable or growing investments and inventories. The fluctuations in cash and cash equivalents and property, plant, and equipment reflect changes in operational and investment strategies. The trends suggest periods of asset acquisition followed by consolidation and impairment, with a recovery phase evident towards the end of the period analyzed.