Common-Size Balance Sheet: Assets
Quarterly Data
Constellation Brands Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2022-11-30), 10-Q (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-K (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-Q (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-K (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-Q (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-K (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-Q (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-K (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-Q (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-K (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-Q (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-K (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-Q (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets fluctuated over the analyzed periods, generally remaining below 1% with exceptions in early 2020 and early 2021 when notable spikes occurred, reaching peaks of 1.16% and 1.7-1.92%, respectively. Post these spikes, the ratio declined again but showed modest recovery towards the end of the timeline.
- Accounts receivable
- This metric showed a slight decline from around 4.39-4.69% in mid-2016 to lower levels in the 2.68-3.31% range in the late 2019 to early 2021 periods. There was a mild recovery after early 2021, with values approaching above 3.5% by late 2022, indicating some rebound in receivables as a proportion of total assets.
- Inventories
- A clear downward trend is observed from 10.88% in May 2016 to around 4.76-5.10% during 2019 and 2020. However, starting from around mid-2021, there was a gradual increase in inventory percentage, climbing steadily towards the 7.37% mark by late 2022, suggesting an accumulation or restocking of inventories relative to total assets.
- Prepaid expenses and other
- Prepaid expenses and other current assets maintained a relatively stable profile though with some fluctuations. Percentages mostly ranged between 1.73% and 2.57%, with a slight upward tendency from mid-2021 onward, peaking at 3.03% in August 2022, implying a higher proportion of prepaid or similar assets in recent periods.
- Assets held for sale, current
- This item appears starting in early 2019 and shows small but consistent values around 2.19-2.68%, with a decreasing trend appearance after early 2020. It disappears from reporting towards later periods, suggesting possible disposal or reclassification.
- Current assets
- The share of current assets relative to total assets declined notably from 18.26% in May 2016 to nearly half that level around 11-13% in the 2019-2022 range. There was a brief dip to 11.23% in early 2021, followed by modest increases afterward, hinting at a strategic shift towards a relatively lower current asset base.
- Property, plant, and equipment (PP&E)
- PP&E showed a general increasing trend over the period, starting near 19.89% in 2016 and progressively rising above 25% by late 2022. The steady growth indicates sustained investments or capitalization of physical assets within the company.
- Goodwill
- Goodwill, a major asset category, exhibited a significant downward trend from around 42% in 2016 to a low near 26.79% by mid-2019. Subsequently, it stabilized around the high 20% to low 30% range through 2022, reflecting possible impairments, asset disposals, or restructuring affecting intangible asset valuations.
- Intangible assets
- Intangible assets as a percentage of total assets decreased from about 19.51% in 2016 to approximately 9.84% by mid-2019, followed by a modest rebound to around 11.2% by late 2022. This suggests changes in the recognition or amortization of intangible assets, with partial recovery in recent years.
- Equity method investments
- Data for this category is available from late 2018 onwards, showing a declining trend from about 12.85% to as low as 3.15% by late 2022, indicating disposals or diminished valuations of investments accounted for using the equity method over time.
- Securities measured at fair value
- This item emerged around late 2018 at a relatively high level of 11.07%, but underwent a sharp decline to under 1% by late 2022. Fluctuations occurred in between, but the overall downward trajectory points to decreased holdings in marketable securities or similar assets.
- Deferred income taxes
- This asset category showed relatively stable proportions in the range of about 7.47% to just over 9.94% from late 2018 through 2022, reflecting consistent recognition of deferred tax assets as a portion of total assets.
- Assets held for sale
- Reported intermittently starting in early 2019 with values ranging from about 3.7% to 1.4%, then disappearing, this category suggests some level of asset disposals or restructuring activities impacting the asset base during this timeframe.
- Other assets
- This category shows an unusual spike in late 2017 through 2018, reaching unusually high proportions above 14%, which is a departure from generally stable low values (around 0.6-3%). Subsequently, the ratio normalized, returning to a range near 2-3%, indicating possible one-off reclassifications or reporting anomalies during the spike period.
- Noncurrent assets
- Noncurrent assets consistently represented the majority of total assets, generally hovering between 81% and 88%. Slight fluctuations occurred, but this stability highlights a predominately long-term asset structure throughout the period.
- Total assets
- As expected, sum totals anchored at 100% in all periods, providing a basis for proportional analysis of constituent assets.