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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Danaher Corp. pages available for free this week:
- Cash Flow Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Danaher Corp., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The financial data over the five-year period presents several notable trends across various asset categories. Cash and equivalents exhibited considerable volatility, initially declining sharply from 6,035 million USD at the end of 2020 to 2,586 million USD in 2021. This was followed by a recovery to 5,995 million USD in 2022 and a slight decline to 5,864 million USD in 2023, ultimately falling steeply again to 2,078 million USD in 2024.
Trade accounts receivable showed an overall increasing trend from 4,045 million USD in 2020 to a peak of 4,918 million USD in 2022, before decreasing steadily to 3,537 million USD by 2024. Inventories followed a somewhat similar pattern, rising from 2,292 million USD in 2020 to 3,110 million USD in 2022, then declining to 2,330 million USD in 2024.
Prepaid expenses and other current assets increased gradually from 1,430 million USD in 2020 to 1,860 million USD in 2022, before decreasing slightly and remaining relatively stable around 1,550 million USD through 2023 and 2024. Consequently, total current assets declined from a high of 15,883 million USD in 2022 to 9,497 million USD in 2024, reflecting decreases primarily in cash and equivalents and trade receivables.
Property, plant and equipment, net, consistently increased throughout the period, rising from 3,262 million USD in 2020 to 4,990 million USD in 2024, indicating ongoing investment in long-term tangible assets.
Other long-term assets expanded significantly from 2,395 million USD in 2020 to a peak of 4,459 million USD in 2022, then declined to 3,644 million USD in 2023, before partly recovering to 3,990 million USD in 2024. Goodwill displayed a general upward trend with some fluctuation, increasing from 35,420 million USD in 2020 to a peak of 41,184 million USD in 2021, dropping to 39,752 million USD in 2022, rising again to 41,608 million USD in 2023, then slightly decreasing to 40,497 million USD in 2024.
Other intangible assets, net, decreased overall from 21,282 million USD in 2020 to 18,568 million USD in 2024, with a notable decline after peaking at 22,843 million USD in 2021. Total long-term assets rose from 62,359 million USD in 2020 to a peak of 71,536 million USD in 2021, then gradually declined to 68,045 million USD in 2024.
Total assets increased steadily from 76,161 million USD in 2020 to a peak of 84,488 million USD in 2023, before decreasing to 77,542 million USD in 2024. This overall pattern reflects growth in the earlier years, followed by a contraction in the final year, largely driven by reductions in current assets and intangible assets.
- Cash and equivalents
- Displayed high volatility with significant reductions in 2021 and 2024 compared to peaks in 2020 and 2022.
- Trade accounts receivable
- Increased until 2022, followed by declines through 2024, indicating fluctuations in receivables management or sales credit policies.
- Inventories
- Rose through 2022 then declined, suggesting changes in stock levels possibly aligned with sales or supply chain adjustments.
- Prepaid expenses and other current assets
- Gradual increase through 2022, then minor decreases, overall relatively stable.
- Current assets
- Peaked in 2022, then decreased significantly by 2024, influenced mainly by cash and receivable decreases.
- Property, plant and equipment, net
- Consistently increased, indicating ongoing capital expenditure.
- Other long-term assets
- Grew until 2022, then experienced some variability but remained above 2020 levels.
- Goodwill
- Fluctuated but maintained an overall upward trajectory, reflecting acquisition activity or revaluation.
- Other intangible assets, net
- Demonstrated a declining trend over the period, possibly due to amortization or impairments.
- Long-term assets
- Increased until 2021 then gradually declined, showing some contraction in intangible and other asset categories.
- Total assets
- Grew until 2023 before decreasing in 2024, suggesting a recent consolidation or asset reduction phase.