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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- Income Statement
- Statement of Comprehensive Income
- Cash Flow Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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3M Co., consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
The analysis of the quarterly financial data reveals several noteworthy trends and fluctuations across the period examined.
- Liquidity and Cash Position
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Cash and cash equivalents generally exhibit moderate volatility, with values ranging from a low of approximately $2,173 million at the beginning of the period to a peak close to $7,731 million in late 2019, before settling around mid-$3,000 million to $4,800 million in the latest quarters. Marketable securities display significant irregularity, peaking at $1,076 million in late 2017, followed by variable declines and recoveries, indicating possibly tactical investment adjustments.
- Receivables and Inventory Management
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Accounts receivable show a relatively stable trend with slight increases and decreases but maintain a generally steady range around $4,700 million to $5,300 million. Inventory, comprising finished goods, work in process, and raw materials and supplies, reflects growth over time. Specifically, finished goods and work in process increase steadily, with finished goods rising from around $1,764 million to about $2,443 million and work in process from approximately $1,078 million to $1,829 million during the timeframe. Raw materials and supplies fluctuate but trend upward, indicating increased production input levels. Overall inventories hence display an upward trajectory, rising from about $3,612 million to over $5,600 million, signaling potential accumulation in stock or increasing operational scale.
- Other Current Assets and Prepaids
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Prepaid expenses appear with intermittent reporting, generally maintaining levels under $1,000 million, while other current assets show variability with a peak over $970 million during 2019 but decreased in some subsequent quarters, reflecting possible changes in short-term asset composition.
- Property, Plant, and Equipment (PPE)
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Gross PPE balances consistently increase over the analyzed periods, starting near $23,946 million and reaching above $26,600 million, indicating ongoing capital investment. Accumulated depreciation also rises steadily but at a slower pace, resulting in net PPE values that experience moderate growth from about $8,551 million to slightly above $9,200 million, suggesting sustained capital asset renewal and maintenance.
- Operating Lease Right-of-Use Assets
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The introduction of operating lease right-of-use assets begins only in late 2018 and remains fairly stable around $800-870 million, reflecting adoption of lease accounting standards and consistent leasing activity.
- Goodwill and Intangible Assets
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Goodwill maintains elevated values fluctuating between roughly $9,100 million and $13,800 million with a peak in late 2019 and gradual decline thereafter, indicative of acquisition activities and occasional impairments. Intangible assets show a decreasing trend from a peak of approximately $6,300 million down to about $4,800 million, representing gradual amortization or disposals.
- Other Assets and Noncurrent Assets
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Other assets remain moderately stable but show increasing tendencies in the latter quarters, rising from around $1,300 million to $3,800 million, potentially reflecting expanded investments or deferred items. Noncurrent assets overall demonstrate consistency with minor fluctuations but reach higher values around $31,000 million, aligning with increases in fixed and intangible assets.
- Total Assets
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Total assets display a trend of steady increment from approximately $33,292 million to over $46,000 million, although some fluctuations occur in the latest quarters, which may relate to asset revaluations or disposals. This overall growth indicates expansion in asset base and operational scale across the periods analyzed.