Stock Analysis on Net
Stock Analysis on Net
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Air Products & Chemicals Inc. (NYSE:APD)

Balance Sheet: Assets
Quarterly Data

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.

Air Products & Chemicals Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

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Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013
Cash and cash items 3,921,400  2,220,100  2,406,100  2,248,700  2,696,800  2,735,900  2,923,300  2,791,300  2,986,500  3,066,900  2,722,600  3,273,600  2,332,600  1,869,300  655,500  1,501,300  514,800  313,100  279,100  206,400  215,300  195,700  238,800  336,600  337,600  356,900  387,600 
Short-term investments 2,515,700  —  —  166,000  —  2,600  12,300  184,700  7,300  137,000  407,100  404,000  1,016,100  1,423,200  —  —  —  —  —  —  —  —  —  —  —  —  — 
Trade receivables, net 1,409,700  1,399,400  1,288,600  1,260,200  1,340,700  1,258,500  1,268,200  1,207,200  1,227,600  1,252,300  1,233,400  1,174,000  1,101,200  1,176,300  1,063,300  1,439,900  1,563,200  1,373,300  1,288,500  1,406,200  1,440,800  1,381,400  1,430,400  1,486,000  1,612,700  1,613,700  1,561,200 
Inventories 410,900  399,700  400,600  388,300  408,300  408,300  403,400  396,100  322,100  339,900  347,400  335,400  293,300  322,800  330,700  619,900  611,100  649,800  665,600  657,800  681,900  693,300  709,700  706,000  690,200  665,300  693,400 
Prepaid expenses 185,900  129,600  98,300  77,400  97,200  102,400  74,900  129,600  104,100  131,200  177,700  191,400  79,000  61,900  68,600  99,600  80,300  85,100  59,200  67,300  63,400  114,900  76,400  87,800  115,600  98,100  119,700 
Other receivables and current assets 562,900  539,700  526,100  477,700  372,200  387,500  407,800  373,300  407,900  469,000  457,100  488,100  515,000  430,800  570,500  637,200  590,600  589,500  486,600  573,100  700,900  729,200  681,900  678,400  583,700  565,900  568,200 
Current assets of discontinued operations —  —  —  —  —  —  —  —  —  —  10,200  10,200  9,800  9,800  860,200  19,400  18,800  20,400  —  —  —  —  —  —  —  —  — 
Current assets 9,006,500  4,688,500  4,719,700  4,618,300  4,915,200  4,895,200  5,089,900  5,082,200  5,055,500  5,396,300  5,355,500  5,876,700  5,347,000  5,294,100  3,548,800  4,317,300  3,378,800  3,031,200  2,779,000  2,910,800  3,102,300  3,114,500  3,137,200  3,294,800  3,339,800  3,299,900  3,330,100 
Investment in net assets of and advances to equity affiliates 1,346,100  1,314,600  1,339,900  1,276,200  1,290,400  1,279,300  1,242,400  1,277,200  1,259,300  1,305,600  1,258,000  1,286,900  1,244,700  1,296,300  1,254,700  1,288,100  1,270,400  1,264,300  1,262,400  1,265,700  1,244,200  1,223,900  1,252,200  1,257,900  1,256,300  1,230,500  1,212,700 
Plant and equipment, at cost 24,198,000  23,005,200  23,099,800  22,333,700  22,425,600  21,986,300  21,586,500  21,490,200  21,387,500  20,522,500  20,040,000  19,547,800  19,176,300  18,716,200  18,273,800  20,190,100  19,967,100  19,961,800  20,443,200  20,354,600  20,472,400  19,981,800  20,256,500  20,223,500  20,447,300  19,952,900  19,864,800 
Accumulated depreciation (12,729,100) (12,381,500) (12,407,600) (11,996,100) (11,998,000) (11,792,500) (11,626,700) (11,566,500) (11,485,500) (11,704,800) (11,408,100) (11,107,600) (10,859,300) (10,518,000) (10,243,500) (11,337,400) (11,168,500) (11,107,700) (10,824,200) (10,717,700) (10,751,600) (10,495,900) (10,648,900) (10,691,400) (10,868,200) (10,640,600) (10,712,800)
Plant and equipment, net 11,468,900  10,623,700  10,692,200  10,337,600  10,427,600  10,193,800  9,959,800  9,923,700  9,902,000  8,817,700  8,631,900  8,440,200  8,317,000  8,198,200  8,030,300  8,852,700  8,798,600  8,854,100  9,619,000  9,636,900  9,720,800  9,485,900  9,607,600  9,532,100  9,579,100  9,312,300  9,152,000 
Goodwill, net 799,300  785,300  816,100  797,100  820,400  811,900  780,400  788,900  794,100  815,000  790,800  721,500  705,100  827,200  811,100  1,150,200  1,135,200  1,150,600  1,115,400  1,131,300  1,163,800  1,155,400  1,200,700  1,237,300  1,612,500  1,614,000  1,642,900 
Intangible assets, net 380,900  377,900  415,900  419,500  441,100  418,600  416,900  438,500  449,000  444,400  429,100  368,300  363,800  377,600  376,700  488,000  491,200  499,900  491,000  508,300  541,500  553,400  585,200  615,800  665,600  674,100  700,500 
Noncurrent lease receivables 820,600  840,800  883,200  890,000  938,400  974,700  985,900  1,013,300  1,058,200  1,128,500  1,126,000  1,131,800  1,139,300  1,147,900  1,162,600  1,221,700  1,245,600  1,291,500  1,319,400  1,350,200  1,375,100  1,373,900  1,397,600  1,414,900  1,436,600  1,439,600  1,478,100 
Other noncurrent assets 959,800  870,400  784,600  604,100  698,800  671,000  666,700  654,500  687,900  603,600  617,500  641,800  736,900  730,200  772,000  737,300  763,700  719,200  674,100  634,900  523,800  586,800  454,900  426,300  426,300  392,600  398,900 
Noncurrent assets 15,775,600  14,812,700  14,931,900  14,324,500  14,616,700  14,349,300  14,052,100  14,096,100  14,150,500  13,114,800  12,853,300  12,590,500  12,506,800  12,577,400  12,407,400  13,738,000  13,704,700  13,779,600  14,481,300  14,527,300  14,569,200  14,379,300  14,498,200  14,484,300  14,976,400  14,663,100  14,585,100 
Total assets 24,782,100  19,501,200  19,651,600  18,942,800  19,531,900  19,244,500  19,142,000  19,178,300  19,206,000  18,511,100  18,208,800  18,467,200  17,853,800  17,871,500  15,956,200  18,055,300  17,083,500  16,810,800  17,260,300  17,438,100  17,671,500  17,493,800  17,635,400  17,779,100  18,316,200  17,963,000  17,915,200 

Based on: 10-Q (filing date: 2020-07-23), 10-Q (filing date: 2020-04-23), 10-Q (filing date: 2020-01-24), 10-K (filing date: 2019-11-26), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-24), 10-Q (filing date: 2019-01-25), 10-K (filing date: 2018-11-20), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-Q (filing date: 2018-01-26), 10-K (filing date: 2017-11-16), 10-Q (filing date: 2017-08-01), 10-Q (filing date: 2017-04-27), 10-Q (filing date: 2017-01-27), 10-K (filing date: 2016-11-21), 10-Q (filing date: 2016-07-29), 10-Q (filing date: 2016-04-28), 10-Q (filing date: 2016-01-29), 10-K (filing date: 2015-11-24), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-01-30), 10-K (filing date: 2014-11-24), 10-Q (filing date: 2014-07-24), 10-Q (filing date: 2014-04-24), 10-Q (filing date: 2014-01-29).

Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Air Products & Chemicals Inc.’s current assets decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Air Products & Chemicals Inc.’s plant and equipment, net decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Noncurrent assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Air Products & Chemicals Inc.’s noncurrent assets decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Air Products & Chemicals Inc.’s total assets decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash items Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Air Products & Chemicals Inc.’s cash and cash items decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.
Short-term investments Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current.
Trade receivables, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Air Products & Chemicals Inc.’s trade receivables, net increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Air Products & Chemicals Inc.’s inventories decreased from Q1 2020 to Q2 2020 but then increased from Q2 2020 to Q3 2020 exceeding Q1 2020 level.