Name: Walgreens Boots Alliance Inc. (NASDAQ:WBA) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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Walgreens Boots Alliance Inc., consolidated balance sheet: assets

US$ in millions

	Aug 31, 2019	Aug 31, 2018	Aug 31, 2017	Aug 31, 2016	Aug 31, 2015	Aug 31, 2014
Cash and cash equivalents	1,023)	785)	3,301)	9,807)	3,000)	2,646)
Accounts receivable, net	7,226)	6,573)	6,528)	6,260)	6,849)	3,218)
Inventories	9,333)	9,565)	8,899)	8,956)	8,678)	6,076)
Other current assets	1,118)	923)	1,025)	860)	1,130)	302)
Current assets	18,700)	17,846)	19,753)	25,883)	19,657)	12,242)
Property, plant and equipment, net	13,478)	13,911)	13,642)	14,335)	15,068)	12,257)
Goodwill	16,560)	16,914)	15,632)	15,527)	16,372)	2,359)
Intangible assets, net	10,876)	11,783)	10,156)	10,302)	12,351)	1,180)
Equity method investments	6,851)	6,610)	6,320)	6,174)	1,242)	7,248)
Other non-current assets	1,133)	1,060)	506)	467)	4,092)	1,896)
Non-current assets	48,898)	50,278)	46,256)	46,805)	49,125)	24,940)
Total assets	67,598)	68,124)	66,009)	72,688)	68,782)	37,182)

Based on: 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-31), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31).

Total assets experienced a substantial expansion between 2014 and 2015, nearly doubling from US$ 37,182 million to US$ 68,782 million. This growth peaked in 2016 at US$ 72,688 million before entering a period of gradual contraction and stabilization, concluding at US$ 67,598 million by August 31, 2019.

Liquidity and Current Asset Trends: Current assets exhibited significant volatility, peaking in 2016 at US$ 25,883 million. This peak was primarily driven by a sharp increase in cash and cash equivalents, which rose to US$ 9,807 million in 2016 before declining precipitously to US$ 785 million by 2018. Accounts receivable and inventories both saw substantial increases between 2014 and 2015, remaining relatively elevated throughout the remainder of the period, with inventories stabilizing around US$ 9,333 million to US$ 9,565 million.
Intangible Asset and Goodwill Expansion: A fundamental shift in the balance sheet composition occurred in 2015, characterized by a massive surge in intangible assets and goodwill. Goodwill increased from US$ 2,359 million in 2014 to US$ 16,372 million in 2015, while net intangible assets rose from US$ 1,180 million to US$ 12,351 million in the same timeframe. These figures remained the dominant components of non-current assets through 2019, suggesting a major acquisition or corporate restructuring during the 2015 fiscal year.
Fixed and Long-term Asset Analysis: Net property, plant, and equipment peaked in 2015 at US$ 15,068 million and followed a gradual downward trend to US$ 13,478 million by 2019. Equity method investments showed an atypical pattern, dropping sharply from US$ 7,248 million in 2014 to US$ 1,242 million in 2015, before steadily recovering to reach US$ 6,851 million by 2019.
Overall Asset Structure: The asset base transitioned from a more balanced distribution in 2014 to one heavily weighted toward non-current assets starting in 2015. By 2019, non-current assets represented approximately 72% of the total asset base, with goodwill and intangible assets constituting the vast majority of the company's long-term valuation.

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