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
Current Assets: Selected Items
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Total assets exhibited a volatile trajectory between 2015 and 2019, characterized by a massive expansion in 2017 followed by a sharp contraction in 2019. Total assets grew from 68.03 billion USD in 2015 to a peak of 192.16 billion USD in 2017, before declining precipitously to 69.40 billion USD by the end of 2019.
- Current Asset Dynamics
- Current assets followed the general trend of the balance sheet, peaking at 49.89 billion USD in 2017. Cash and cash equivalents saw a significant increase from 6.61 billion USD in 2016 to 13.44 billion USD in 2017, though this position collapsed to 1.54 billion USD by December 31, 2019. Trade receivables and inventories both surged in 2017, with inventories rising from 7.36 billion USD in 2016 to 16.99 billion USD in 2017, before both metrics experienced a steep decline in 2019 to 3.01 billion USD and 4.32 billion USD, respectively.
- Noncurrent Asset Expansion and Contraction
- The most dramatic shifts occurred within noncurrent assets, which rose from 43.55 billion USD in 2015 to 142.27 billion USD in 2017. This growth was primarily driven by a surge in goodwill and intangible assets. Goodwill increased from 15.27 billion USD in 2016 to 59.53 billion USD in 2017, while other intangible assets climbed from 6.03 billion USD to 33.27 billion USD in the same period. These figures suggest significant acquisition activity during 2017. By 2019, goodwill fell to 33.15 billion USD and intangible assets decreased to 13.59 billion USD.
- Fixed Asset Trends
- Net property, plant, and equipment showed a steady upward trend from 2015 (17.85 billion USD) through 2017 (36.25 billion USD), indicating period-specific capital investment. However, this balance dropped sharply to 10.14 billion USD by the end of 2019, representing a significant reduction in the company's physical asset base.
The data indicates a corporate lifecycle of rapid consolidation followed by a major divestiture or restructuring in 2019. The simultaneous drop across almost every asset category—particularly the reduction in goodwill, PP&E, and current assets—suggests a systemic separation of business units or a large-scale spin-off during the final year of the analyzed period.
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