Name: Carrier Global Corp. (NYSE:CARR) | 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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Carrier Global Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash and cash equivalents	3,520)	2,987)	3,115)
Accounts receivable, net	2,833)	2,403)	2,781)
Contract assets, current	537)	503)	656)
Inventories, net	2,640)	1,970)	1,629)
Assets held for sale	—)	3,168)	—)
Other assets, current	349)	376)	343)
Current assets	9,879)	11,407)	8,524)
Future income tax benefits	612)	563)	449)
Fixed assets, net	2,241)	1,826)	1,810)
Operating lease right-of-use assets	642)	640)	788)
Intangible assets, net	1,342)	509)	1,037)
Goodwill	9,977)	9,349)	10,139)
Pension and post-retirement assets	26)	43)	554)
Equity method investments	1,148)	1,593)	1,513)
Other assets	219)	242)	279)
Long-term assets	16,207)	14,765)	16,569)
Total assets	26,086)	26,172)	25,093)

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

Total assets remained relatively stable over the three-year period, ending at 26,086 million US dollars in 2022, compared to 25,093 million US dollars in 2020. While the overall balance sheet size showed minimal variance, there were significant shifts in the composition of both current and long-term assets.

Current Asset Dynamics: Current assets experienced a peak in 2021 at 11,407 million US dollars, primarily driven by the temporary recognition of 3,168 million US dollars in assets held for sale. Excluding this item, current assets grew from 8,524 million US dollars in 2020 to 9,879 million US dollars in 2022. A notable trend is the steady increase in net inventories, which rose from 1,629 million US dollars in 2020 to 2,640 million US dollars in 2022, representing a growth of approximately 62%.
Liquidity and Receivables: Cash and cash equivalents showed a general upward trajectory, increasing from 3,115 million US dollars in 2020 to 3,520 million US dollars by the end of 2022. Net accounts receivable remained relatively stable, fluctuating slightly before ending at 2,833 million US dollars in 2022, suggesting consistent credit management practices.
Long-term Asset Composition: Long-term assets fluctuated between 14,765 million US dollars and 16,569 million US dollars. Goodwill represents the largest single component of the asset base, maintaining a high value around 10 billion US dollars, which indicates a historical reliance on acquisitions. Net intangible assets exhibited significant volatility, dropping to 509 million US dollars in 2021 before rebounding to 1,342 million US dollars in 2022. Additionally, net fixed assets increased by approximately 23% between 2021 and 2022.
Specific Asset Reductions: A sharp decline is observed in pension and post-retirement assets, which fell from 554 million US dollars in 2020 to 26 million US dollars in 2022. Similarly, equity method investments decreased from a peak of 1,593 million US dollars in 2021 to 1,148 million US dollars in 2022.

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