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.
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 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).
Total assets exhibited a period of relative stability from March 2021 through December 2023, fluctuating between 72 billion and 75 billion US dollars. A gradual upward trajectory began in 2024, culminating in a significant expansion in the first half of 2026, where total assets peaked at 110.4 billion US dollars in March 2026 before settling at 109.2 billion US dollars by June 30, 2026.
- Liquidity and Working Capital Trends
- Cash and cash equivalents demonstrated notable volatility, peaking at 9.8 billion US dollars in December 2021 before trending downward to a low of 5.1 billion US dollars by June 2026. This decline in liquid cash is contrasted by a steady increase in trade receivables, which grew from 6.1 billion US dollars in March 2021 to 8.6 billion US dollars by June 2026. Inventories also followed a general upward trend, rising from 5.4 billion US dollars to 7.3 billion US dollars over the analyzed period, driven largely by increases in finished products and work-in-process assets.
- Fixed Asset Investment
- Net property and equipment showed consistent growth, increasing from 8.8 billion US dollars in March 2021 to 12.8 billion US dollars by June 2026. While gross property and equipment at cost rose steadily from 18.7 billion to 26.5 billion US dollars, accumulated depreciation and amortization also increased proportionally, reflecting ongoing capital expenditures and the aging of existing assets.
- Intangible Assets and Goodwill
- A significant shift in the asset structure occurred in the first quarter of 2026. Prior to this, intangible assets had been in a steady decline due to amortization, falling from 14.2 billion US dollars in 2021 to 5.5 billion US dollars by December 2025. However, in March 2026, intangible assets jumped to 17.9 billion US dollars. Similarly, goodwill remained stable around 23 billion US dollars for several years before spiking to 35.2 billion US dollars in March 2026. This simultaneous surge in both categories indicates a substantial acquisition or strategic business combination during that period.
- Other Long-term Assets
- Deferred income taxes and other assets remained relatively stable until December 2024, where a sharp increase was observed, rising from approximately 8 billion US dollars to 16.5 billion US dollars. This value continued to climb, reaching 18.3 billion US dollars by June 2026, contributing significantly to the overall growth of long-term assets.
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