Name: Albemarle Corp. (NYSE:ALB) | 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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Albemarle Corp., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	1,499,142)	439,272)	746,724)	613,110)	555,320)
Trade accounts receivable, less allowance for doubtful accounts	1,190,970)	556,922)	530,838)	612,651)	605,712)
Value added tax/consumption tax	141,856)	35,758)	45,309)	52,059)	40,480)
Other	43,963)	30,426)	16,649)	15,492)	11,579)
Other accounts receivable	185,819)	66,184)	61,958)	67,551)	52,059)
Inventories	2,076,031)	812,920)	750,237)	768,984)	700,540)
Income tax receivables	71,795)	76,952)	45,031)	72,246)	40,116)
Prepaid taxes	97,682)	12,573)	—)	—)	—)
Other prepaid expenses	58,754)	37,360)	57,531)	83,637)	43,172)
Other	6,724)	5,798)	13,865)	6,930)	1,502)
Other current assets	234,955)	132,683)	116,427)	162,813)	84,790)
Current assets	5,186,917)	2,007,981)	2,206,184)	2,225,109)	1,998,421)
Net property, plant and equipment	6,962,997)	5,909,616)	5,354,625)	4,909,473)	3,021,084)
Joint ventures	832,119)	593,344)	604,964)	534,430)	486,032)
Available for sale debt securities	260,139)	246,517)	—)	—)	—)
Nonmarketable securities	18,760)	20,660)	14,171)	11,746)	9,177)
Marketable equity securities	39,535)	37,187)	37,109)	33,637)	33,513)
Investments	1,150,553)	897,708)	656,244)	579,813)	528,722)
Deferred income taxes	46,434)	18,797)	20,317)	15,275)	17,029)
Assets related to unrecognized tax benefits	32,421)	32,868)	24,112)	26,127)	12,984)
Operating lease right-of-use assets	128,173)	154,741)	136,292)	133,864)	—)
Other	43,530)	45,833)	38,547)	37,795)	50,122)
Other assets	250,558)	252,239)	219,268)	213,061)	80,135)
Goodwill	1,617,627)	1,597,627)	1,665,520)	1,578,785)	1,567,169)
Other intangibles, net of amortization	287,870)	308,947)	349,105)	354,622)	386,143)
Noncurrent assets	10,269,605)	8,966,137)	8,244,762)	7,635,754)	5,583,253)
Total assets	15,456,522)	10,974,118)	10,450,946)	9,860,863)	7,581,674)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Total assets experienced significant growth over the five-year period, increasing from US$ 7.58 billion in 2018 to US$ 15.46 billion by the end of 2022. This expansion was characterized by a steady upward trajectory from 2018 through 2021, followed by a substantial surge in total asset value during the 2022 fiscal year.

Current Asset Dynamics: Current assets grew from US$ 1.99 billion in 2018 to US$ 5.19 billion in 2022. A notable acceleration occurred in 2022, where current assets more than doubled from the previous year's US$ 2.01 billion. This spike was driven primarily by three components: inventories, which rose from US$ 812.9 million in 2021 to US$ 2.08 billion in 2022; cash and cash equivalents, which increased to US$ 1.50 billion; and trade accounts receivable, which climbed to US$ 1.19 billion. This pattern suggests a significant increase in operational scale and working capital requirements during the final year of the period.
Fixed Asset Expansion: Net property, plant, and equipment exhibited consistent and aggressive growth, rising from US$ 3.02 billion in 2018 to US$ 6.96 billion in 2022. The steady year-over-year increase indicates a sustained commitment to capital expenditure and the expansion of physical production capacity throughout the five-year window.
Investment and Noncurrent Asset Trends: Total noncurrent assets grew from US$ 5.58 billion in 2018 to US$ 10.27 billion in 2022. Investments increased steadily from US$ 528.7 million to US$ 1.15 billion, supported by growth in joint ventures and the introduction of available-for-sale debt securities in 2021. Goodwill remained relatively stable, fluctuating slightly around the US$ 1.6 billion mark, while other intangible assets showed a gradual decline from US$ 386.1 million in 2018 to US$ 287.9 million in 2022, likely reflecting standard amortization.
Liquidity and Working Capital Observations: The composition of the balance sheet shifted toward higher liquidity and operational assets by 2022. The simultaneous increase in cash, receivables, and inventories indicates a period of rapid growth or strategic stockpiling. Additionally, prepaid taxes saw a marked increase in 2022, rising to US$ 97.7 million from US$ 12.6 million in the prior year.

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