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.

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Baxter International Inc., consolidated balance sheet: assets

US$ in millions

		Dec 31, 2015		Dec 31, 2014		Dec 31, 2013		Dec 31, 2012		Dec 31, 2011
	Cash and equivalents
	Accounts and other current receivables, net
	Inventories
	Short-term deferred income taxes
	Prepaid valuation added taxes
	Prepaid income taxes
	Other
	Prepaid expenses and other
	Investment in Baxalta common stock
	Current assets held for disposition
	Current assets
	Property, plant and equipment, net
	Goodwill
	Other intangible assets, net
	Deferred income taxes
	Other long-term receivables
	Other
	Other long-term assets
	Non-current assets
	Total assets

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).

The analysis of the annual financial data reveals several notable trends and shifts in various asset categories over the five-year period.

Cash and Cash Equivalents: Cash and equivalents show moderate fluctuations, increasing from 2,905 million US dollars in 2011 to a peak of 3,270 million in 2012, followed by a decline to 2,213 million by 2015. This indicates a reduction in liquid assets towards the end of the period.
Accounts and Other Current Receivables, Net: Receivables remained relatively stable between 2011 and 2012, then increased to 2,911 million in 2013 before decreasing sharply to 1,731 million in 2015. This suggests a possible tightening in credit policy or collection efficiency improvements in later years.
Inventories: Inventories increased steadily from 2,628 million in 2011 to 3,559 million in 2014, before dropping significantly to 1,604 million in 2015. This notable decrease in the final year may indicate efforts to optimize inventory levels or changes in business operations.
Short-term Deferred Income Taxes: These liabilities grew consistently from 295 million in 2011 to 501 million in 2014 but data for 2015 is missing, leaving the most recent trend unclear.
Prepaid Valuation Added Taxes and Prepaid Income Taxes: Prepaid valuation added taxes and prepaid income taxes appear only in 2015, with values of 118 million and 302 million respectively, suggesting introduction or reclassification of prepaid tax-related assets.
Prepaid Expenses and Other Current Assets: This category rose from 402 million in 2011 to 563 million in 2014 and further to 855 million in 2015, indicating increasing investments in prepaid expenses or other miscellaneous current assets.
Investment in Baxalta Common Stock and Current Assets Held for Disposition: Notably, investment in Baxalta common stock appears in the final year at 5,148 million, accompanied by 245 million in current assets held for disposition. This likely reflects strategic financial activities such as equity investment and asset disposal.
Total Current Assets: Current assets increased steadily from 8,650 million in 2011 to 10,351 million in 2014, then further to 11,796 million in 2015, driven largely by changes in prepaid expenses and the new investment entries offsetting decreases in receivables and inventories.
Property, Plant and Equipment, Net: There was continuous growth in property, plant and equipment from 5,525 million in 2011 to 8,698 million in 2014, followed by a sharp decrease to 4,386 million in 2015. This decline might signify asset disposals or write-downs in the latest year.
Goodwill: Goodwill rose substantially from 2,317 million in 2011 to 4,205 million in 2013, then declined to 2,687 million in 2015, indicating potential impairment or divestitures impacting intangible goodwill assets.
Other Intangible Assets, Net: These assets experienced similar trends as goodwill, increasing to 2,294 million in 2013, then decreasing to 1,349 million by 2015, suggesting amortization or disposals affecting intangible asset balances.
Deferred Income Taxes: Deferred income taxes decreased from 1,123 million in 2011 to 273 million in 2014, followed by a slight increase to 354 million in 2015, pointing to changes in tax timing differences during the period.
Other Long-term Receivables and Other Long-term Assets: Other long-term receivables and related assets showed a decline in overall value, from 195 million and 1,755 million in 2011 respectively to lower levels by 2015, reflecting possible asset sales or reclassifications.
Non-current Assets: Non-current assets grew significantly to peak at 15,865 million in 2013, then declined to 9,179 million in 2015, driven by decreases in property, plant, equipment, goodwill, and intangible assets, indicating possible restructuring or disposals.
Total Assets: Total assets increased over the initial years, reaching 25,917 million in 2014 before falling notably to 20,975 million in 2015. This reflects the combined impacts of asset reductions primarily in long-term assets with partial offset from current asset increases.

Assets: Selected Items

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Current Assets: Selected Items