Common-Size Balance Sheet: Assets
Quarterly Data
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Cummins Inc. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Reportable Segments
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Cummins Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets showed a notable increase from early 2020, peaking at 15.03% at the end of 2020. Subsequently, it declined steadily throughout 2022 and early 2023 but displayed a slight recovery in the last reported quarters, reaching 7.98% by the end of Q1 2024.
- Marketable Securities
- Marketable securities as a percentage of total assets remained relatively stable, fluctuating between 1.24% and 2.51%. Peaks occurred at the end of 2021 (2.51%) and mid-2022 (2.19%), but slight declines followed, ending at 1.6% in Q1 2024.
- Cash, Cash Equivalents, and Marketable Securities Combined
- The combined figure closely mirrors the trend in cash and cash equivalents, increasing sharply during 2020 to a high of 17.07%, before gradually decreasing through 2022 and into 2023. The value ended with a moderate improvement to 9.59% in Q1 2024.
- Accounts and Notes Receivable, Net
- This component showed a mild general decline from about 20.63% in Q2 2019 to approximately 16.82% by Q3 2020, followed by a recovery, peaking near 18.56% mid-2023. Towards the latest period, there is a slight downward movement to 17.16% by Q1 2024, suggesting stabilization in receivables.
- Inventories
- Inventory levels decreased from almost 20% of total assets in early 2019 to a low near 15.14% at the end of 2020. Subsequently, inventories rebuilt steadily, reaching peak levels between 18% and 19% across 2021 and 2022. The trend into 2023 shows minor fluctuations but remained within the 17% to 19% range.
- Prepaid Expenses and Other Current Assets
- These assets experienced a gradual increase from around 3.0% in 2019 to a higher level near 4.24% in Q1 2024, indicating a slow but steady growth in prepaid and other current assets over the observed periods.
- Current Assets
- The percentage of total assets classified as current assets showed fluctuations but remained close to 50%, rising slightly above 52% during 2020 and early 2021, then dipping below 48% in 2022 and early 2023, before recovering modestly to 49.08% by Q1 2024.
- Property, Plant, and Equipment (Gross and Net)
- The gross property, plant, and equipment (PPE) share of total assets declined from above 42% in early 2019 to a low of 34.37% in late 2022, followed by a slight rebound to 35.36% by Q1 2024. Accumulated depreciation decreased in magnitude after 2021, moving from about -21.5% to approximately -16.5% in 2022 and 2023, indicating reduced depreciation charges or asset disposals. Net PPE as a percentage showed a decline from roughly 20.49% in early 2019 down to 17.47% by Q3 2022, with gradual moderate recoveries reaching 18.89% at the most recent quarter.
- Investments and Advances related to Equity Method Investees
- This item experienced a declining trend from 6.57% in Q1 2019 to around 5.57% at the end of Q1 2024, indicating a slow reduction in investment exposure or revaluation impacts over the period.
- Goodwill
- Goodwill increased significantly starting mid-2022, rising from around 5.33% to a peak of approximately 7.81% in mid-2023, before slightly declining to 7.56% in Q1 2024. This rise suggests acquisitions or goodwill revaluations during that timeframe.
- Other Intangible Assets, Net
- After steady levels near 4.2%-5.0% through 2021 and early 2022, other intangible assets increased sharply to near 8.87% in late 2022, slightly tapering to 7.71% by Q1 2024. This pattern parallels the increase in goodwill, possibly reflecting augmented intangible asset balances related to acquisitions or revaluations.
- Pension Assets
- Pension assets remained around 4.7%-5.0% until 2021, spiking to 6.28% at year-end 2021 before gradually declining to 3.73% by Q1 2024. The decrease over recent periods indicates a reduction in pension plan assets or adjustments to pension valuations.
- Other Assets
- Other assets as a percentage of total assets remained relatively stable, fluctuating narrowly between about 6.64% and 8.0% throughout the periods, with no clear long-term trend.
- Long-Term Assets
- The proportion of long-term assets slightly declined from over 52% at the end of 2019 to nearer 48% during 2021 before increasing again to 52.51% toward late 2023. By Q1 2024, it settled at approximately 50.92%, indicating relatively steady long-term asset investment with some variation over time.