Common-Size Balance Sheet: Assets
Quarterly Data
Based on: 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31).
The asset structure of the organization is characterized by a heavy concentration in noncurrent assets, reflecting the capital-intensive nature of the industry. Throughout the period from March 2012 to September 2017, noncurrent assets consistently represented between 80% and 93% of the total asset base, while current assets fluctuated between approximately 7% and 19%.
- Liquidity and Current Asset Trends
- Cash and cash equivalents exhibit significant volatility, peaking at 13.74% of total assets in September 2014 before reaching a period low of 2.02% in December 2015. A subsequent recovery is observed, with cash levels returning to the 12-13% range by mid-2017. Accounts receivable remained relatively stable, though a gradual decline is noted, moving from a high of 5.96% in early 2012 to a range of 3.5% to 4.3% in the final year of the analysis.
- Capital Assets and Depreciation
- Net properties and equipment constitute the largest portion of the balance sheet, generally fluctuating between 64% and 73%. A notable increase in the gross cost of properties and equipment is observed, rising from 112.99% in March 2012 to 150.38% by September 2017. This expansion is offset by a corresponding increase in accumulated depreciation, depletion, and amortization, which grew from -42.99% to -85.84% over the same period. The net result is a slight long-term compression of net properties and equipment as a percentage of total assets toward the end of the sequence.
- Intangible Assets and Other Noncurrent Items
- Goodwill and other intangible assets show a steady upward trend, increasing from 10.68% in March 2012 to 13.15% by September 2017. Other assets also experienced a moderate increase, rising from approximately 3.3% to nearly 5% of total assets. These trends indicate a gradual shift in the composition of noncurrent assets toward intangible value.
- Specific Asset Resolutions
- The Algeria exceptional profits tax settlement, which initially represented 2.67% of total assets in March 2012, decreased steadily until it was fully resolved and removed from the balance sheet after June 30, 2013.
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