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.

Twenty-First Century Fox Inc., consolidated balance sheet: assets

US$ in millions

	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014	Jun 30, 2013
Cash and cash equivalents	7,622)	6,163)	4,424)	8,428)	5,415)	6,659)
Receivables, net	7,120)	6,477)	6,258)	5,912)	6,468)	5,459)
Inventories, net	3,669)	3,101)	3,291)	2,749)	3,092)	2,784)
Other	922)	545)	976)	287)	401)	665)
Current assets	19,333)	16,286)	14,949)	17,376)	15,376)	15,567)
Receivables, net	724)	543)	389)	394)	454)	437)
Equity method investments	3,494)	3,437)	3,417)	4,088)	2,556)	3,189)
Available-for-sale securities	257)	—)	—)	18)	124)	268)
Other investments	361)	465)	446)	423)	179)	247)
Investments	4,112)	3,902)	3,863)	4,529)	2,859)	3,704)
Inventories, net	7,518)	7,452)	7,041)	6,411)	6,442)	5,371)
Property, plant and equipment, net	1,956)	1,781)	1,692)	1,722)	2,931)	2,829)
Intangible assets, net	6,101)	6,574)	6,777)	6,320)	8,072)	5,064)
Goodwill	12,768)	12,792)	12,733)	12,513)	18,052)	17,255)
Other non-current assets	1,319)	1,394)	921)	786)	607)	717)
Non-current assets	34,498)	34,438)	33,416)	32,675)	39,417)	35,377)
Total assets	53,831)	50,724)	48,365)	50,051)	54,793)	50,944)

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 asset composition of the entity demonstrates notable shifts over the five-year period from June 30, 2013, to June 30, 2018. Overall, total assets experienced fluctuation, beginning at US$50,944 million, peaking at US$54,793 million in 2014, declining to US$48,365 million in 2016, and recovering to US$53,831 million by 2018.

Current Assets: Current assets exhibited volatility. After remaining relatively stable between 2013 and 2015 (ranging from US$15,376 million to US$17,376 million), they decreased in 2016 to US$14,949 million before increasing significantly to US$19,333 million in 2018. This increase was largely driven by a substantial rise in cash and cash equivalents, and receivables, net. Inventories also showed a gradual increase over the period.
Cash and Cash Equivalents: Cash and cash equivalents displayed considerable variation. Beginning at US$6,659 million in 2013, the balance decreased to US$4,424 million in 2016, then increased to US$7,622 million in 2018. This suggests active cash management or potentially fluctuating operational needs.
Receivables, net (Current & Non-Current): Combined receivables, net, showed a consistent upward trend, increasing from US$5,896 million in 2013 to US$7,844 million in 2018. The current portion of receivables demonstrated a steady increase, while the non-current portion also increased, though with more fluctuation. This suggests a potential increase in credit sales or extended payment terms.
Investments: Total investments fluctuated. While initially decreasing from US$3,704 million in 2013 to US$2,859 million in 2014, they increased to US$4,529 million in 2015 before settling around US$4,000 million in subsequent years. Equity method investments remained relatively stable, while available-for-sale securities experienced a decrease and then a recovery towards the end of the period.
Non-Current Assets: Non-current assets accounted for a significant portion of total assets, consistently exceeding US$32,000 million throughout the period. Goodwill constituted the largest component of non-current assets, remaining relatively stable around US$12,500 - US$18,000 million. Property, plant, and equipment, net, experienced a decline between 2013 and 2016, followed by a modest recovery. Intangible assets, net, also showed a decline from 2013 to 2018, though less pronounced.
Goodwill: Goodwill remained the largest component of non-current assets, fluctuating between US$12,513 million and US$18,052 million. The relatively stable value suggests limited significant acquisitions or impairments during the period.

In summary, the entity’s asset base demonstrated a dynamic composition. While total assets fluctuated, the consistent weighting of non-current assets, particularly goodwill, indicates a long-term investment strategy. The increases in current assets in 2018, driven by cash and receivables, suggest improved liquidity or changes in working capital management.

Twenty-First Century Fox Inc. (NASDAQ:FOX)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items