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: 2026-03-31), 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 remained relatively stable between March 2021 and September 2024, generally oscillating between 72 billion and 75 billion US dollars. A significant expansion is observed beginning in December 2024, with total assets rising to 81.4 billion US dollars and eventually surging to 110.4 billion US dollars by March 2026. This growth is primarily attributable to substantial increases in long-term assets during the latter part of the period.
- Current Asset Trends
- Cash and cash equivalents exhibited volatility, peaking at 9.88 billion US dollars in December 2022 before declining to a period low of 6.28 billion US dollars in March 2024, followed by a recovery toward 8.5 billion US dollars by late 2025. Trade receivables demonstrate a consistent long-term upward trajectory, increasing from 6.1 billion US dollars in March 2021 to 8.2 billion US dollars by March 2026. Inventories similarly trended upward, growing from 5.4 billion US dollars in 2021 to 7.0 billion US dollars by March 2026, with finished products and materials contributing the most to this growth.
- Fixed and Long-Term Asset Evolution
- Net property and equipment grew steadily from 8.8 billion US dollars in March 2021 to 12.4 billion US dollars in March 2026, indicating sustained capital investment in infrastructure. Intangible assets, net of amortization, showed a persistent downward trend for several years, falling from 14.2 billion US dollars in March 2021 to 5.5 billion US dollars by December 2025, reflecting the systematic amortization of existing assets.
- Strategic Asset Spikes and Acquisitions
- A dramatic shift in the asset structure occurred in the final quarter of the analyzed period. Goodwill increased from 24.0 billion US dollars in December 2025 to 35.2 billion US dollars in March 2026. In the same period, intangible assets surged from 5.5 billion US dollars to 17.9 billion US dollars. Additionally, deferred income taxes and other assets saw a significant leap starting in December 2024, rising from 8.0 billion US dollars to over 16 billion US dollars. These concurrent spikes in goodwill and intangibles strongly indicate a major strategic acquisition completed in the first quarter of 2026.
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