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Becton, Dickinson & Co. (NYSE:BDX)

This company has been moved to the archive! The financial data has not been updated since May 5, 2022.

Common-Size Balance Sheet: Assets
Quarterly Data

Becton, Dickinson & Co., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 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
Cash and equivalents 5.74 3.57 4.24 5.80 6.80 5.93 5.23 5.34 4.39 1.08 1.04 1.00 1.30 1.78 2.11 2.56 2.29 2.03 37.58 37.27 2.27 3.78 6.02 6.48 6.46 6.08
Restricted cash 0.32 0.27 0.20 0.24 0.30 0.36 0.17 0.15 0.16 0.09 0.10 0.14 0.15 0.19 0.18 0.23 0.31 0.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Short-term investments 0.03 0.01 0.02 0.04 0.04 0.03 0.04 0.04 0.01 0.02 0.06 0.02 0.02 0.01 0.03 0.03 0.03 0.15 0.06 0.05 0.03 0.07 0.11 0.06 0.06 0.04
Trade receivables, net 4.20 4.08 4.64 3.82 3.86 4.33 4.44 3.69 4.04 3.99 4.53 4.25 4.33 4.19 4.30 4.16 4.20 3.61 4.62 4.71 6.50 6.24 6.32 6.22 6.00 5.81
Materials 1.29 1.31 1.19 1.17 1.17 1.19 1.11 1.16 1.12 1.15 1.05 1.09 1.06 1.04 0.95 0.95 0.91 0.94 0.83 0.86 1.26 1.23 1.24 1.21 1.20 1.41
Work in process 0.75 0.74 0.75 0.71 0.71 0.67 0.62 0.62 0.67 0.67 0.61 0.61 0.62 0.56 0.55 0.61 0.65 0.77 0.72 0.79 1.21 1.13 1.07 1.16 1.15 1.12
Finished products 3.90 3.64 3.38 3.54 3.39 3.28 3.34 3.68 3.43 3.49 3.32 3.34 3.32 3.16 3.05 3.18 3.10 3.65 3.27 3.27 4.77 4.60 4.41 4.68 4.68 5.09
Inventories 5.95% 5.69% 5.32% 5.42% 5.27% 5.14% 5.08% 5.46% 5.22% 5.31% 4.98% 5.03% 4.99% 4.76% 4.55% 4.75% 4.66% 5.36% 4.82% 4.92% 7.24% 6.96% 6.72% 7.05% 7.04% 7.62%
Assets held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.25 0.00 0.00 0.00 0.00 0.00 0.00 0.21 2.51 2.40 2.36 0.00
Prepaid expenses and other 2.29 1.95 1.99 2.22 1.94 1.62 1.65 1.67 2.16 1.90 2.16 2.54 2.21 2.19 2.32 2.22 2.28 2.27 2.31 2.06 4.22 4.07 3.20 2.90 3.29 2.11
Current assets 18.53% 15.57% 16.41% 17.55% 18.21% 17.42% 16.61% 16.36% 15.99% 12.39% 12.87% 12.98% 13.01% 13.11% 13.75% 13.94% 13.77% 13.62% 49.38% 49.00% 20.28% 21.33% 24.88% 25.12% 25.20% 21.66%
Property, plant and equipment 24.08 24.42 24.03 23.28 22.61 22.42 22.07 21.61 21.04 21.99 21.50 21.14 20.68 20.00 19.45 19.24 19.17 18.26 24.88 24.15 34.62 33.31 32.90 31.83 31.14 31.64
Allowances for depreciation and amortization -12.39 -12.46 -12.16 -11.94 -11.43 -11.28 -11.10 -10.78 -10.46 -10.86 -10.57 -10.51 -10.27 -9.87 -9.48 -9.38 -9.25 -8.75 -12.59 -12.28 -18.28 -17.58 -17.66 -17.18 -16.74 -16.45
Property, plant and equipment, net 11.69% 11.96% 11.87% 11.34% 11.18% 11.13% 10.97% 10.82% 10.58% 11.13% 10.93% 10.63% 10.41% 10.13% 9.97% 9.86% 9.92% 9.50% 12.29% 11.87% 16.34% 15.74% 15.25% 14.66% 14.40% 15.19%
Goodwill 43.98 45.19 44.37 43.83 43.28 43.40 43.73 43.64 43.75 45.11 45.16 44.99 44.70 44.41 43.78 43.55 43.05 41.00 20.04 20.21 30.70 30.28 29.00 28.54 28.39 28.30
Developed technology, net 16.51 17.43 17.48 17.56 17.68 18.16 18.78 19.19 19.70 20.88 21.35 21.70 22.10 22.47 22.60 22.79 23.02 25.60 6.57 6.82 10.53 10.61 10.38 10.22 10.37 11.16
Customer relationships, net 4.89 5.18 5.23 5.34 5.42 5.58 5.75 5.90 6.09 6.44 6.61 6.71 6.78 6.88 6.91 7.05 7.08 7.11 7.50 7.71 12.12 12.19 11.81 11.82 11.92 12.26
Other intangibles, net 0.99 1.02 1.02 1.03 1.02 1.03 1.04 1.05 1.06 1.02 0.97 0.96 0.98 0.99 0.99 0.99 1.05 1.02 1.55 1.58 2.40 2.40 2.36 2.59 2.60 2.94
Intangible assets, net 22.39% 23.63% 23.73% 23.92% 24.12% 24.76% 25.57% 26.15% 26.86% 28.34% 28.93% 29.37% 29.86% 30.34% 30.50% 30.83% 31.15% 33.73% 15.62% 16.11% 25.04% 25.20% 24.55% 24.62% 24.89% 26.36%
Other assets 3.40 3.64 3.62 3.35 3.20 3.29 3.12 3.03 2.82 3.03 2.10 2.04 2.02 2.01 2.00 1.82 2.12 2.14 2.67 2.81 7.64 7.45 6.32 7.06 7.11 8.48
Noncurrent assets 81.47% 84.43% 83.59% 82.45% 81.79% 82.58% 83.39% 83.64% 84.01% 87.61% 87.13% 87.02% 86.99% 86.89% 86.25% 86.06% 86.23% 86.38% 50.62% 51.00% 79.72% 78.67% 75.12% 74.88% 74.80% 78.34%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-K (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31).

The asset structure demonstrates a significant shift over the analyzed period, moving from a more diversified asset base toward a heavy concentration in noncurrent assets, specifically intangible assets and goodwill. The overall composition is characterized by a substantial increase in the proportion of goodwill, suggesting an aggressive acquisition strategy, balanced by a gradual decline in identifiable intangible assets due to amortization.

Liquidity and Current Asset Trends
Current assets generally represent a minority portion of the total asset base, typically fluctuating between 12% and 25%. A significant anomaly is observed in mid-2017, where current assets surged to approximately 49% of total assets, driven almost exclusively by a spike in cash and equivalents, which peaked at 37.58% in September 2017. Following this event, cash levels returned to a leaner profile, ranging between 1% and 6% for the remainder of the period. Inventories have shown a gradual downward trend from a peak of 7.62% in late 2015 to a stabilized range of 5% to 6% by 2022.
Intangible Assets and Goodwill
Goodwill has become the dominant component of the balance sheet. Starting at 28.30% in December 2015, it expanded significantly to peak at 45.19% by December 2021, reflecting a substantial increase in the valuation of acquired entities relative to total assets. Conversely, identifiable intangible assets have trended downward. Developed technology, which spiked to 25.60% in December 2017, steadily declined to 16.51% by March 2022. Customer relationships showed a consistent decline from 12.26% in 2015 to 4.89% in 2022, indicating systematic amortization of these assets over time.
Fixed Asset Composition
Net property, plant, and equipment (PPE) have remained relatively stable as a percentage of total assets, generally hovering between 10% and 16%. While gross PPE experienced fluctuations—including a notable dip in 2017—the net PPE ratio suggests that capital reinvestment has largely kept pace with the overall growth of the asset base. The allowance for depreciation and amortization has remained a significant contra-asset, consistently offsetting a large portion of the gross PPE value.
Noncurrent Asset Dominance
Noncurrent assets consistently comprise the vast majority of the balance sheet, typically exceeding 80% of total assets from late 2017 onward. This trend highlights a capital-intensive business model focused on long-term strategic assets and intellectual property rather than short-term liquidity or high inventory turnover.

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