Balance Sheet: Assets
Quarterly Data
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-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31).
The balance sheet exhibits a period of extreme volatility between 2015 and 2019, characterized by a massive expansion of the asset base in late 2017 followed by a significant contraction in mid-2019. Total assets grew from 67,789 million USD in March 2015 to a peak of 198,527 million USD in September 2017, before receding to 69,396 million USD by December 2019.
- Total Asset and Noncurrent Asset Expansion
- A dramatic increase in total assets is observed starting in September 2017, where assets nearly tripled compared to early 2017 levels. This growth was primarily driven by noncurrent assets, which surged from 56,312 million USD in June 2017 to 143,726 million USD in September 2017. This expansion suggests a major corporate action, such as a merger or large-scale acquisition, as evidenced by the simultaneous spikes in goodwill and intangible assets.
- Intangible Assets and Goodwill Trends
- Goodwill and other intangible assets saw the most significant growth during the 2017 peak. Goodwill rose from approximately 15,439 million USD in June 2017 to 60,698 million USD in September 2017. Other intangible assets followed a similar trajectory, increasing from 5,812 million USD to 33,420 million USD in the same period. By June 2019, both figures dropped sharply—goodwill to 33,330 million USD and intangibles to 14,150 million USD—indicating a substantial divestiture or spin-off of business segments.
- Fixed Asset and Property, Plant, and Equipment (PP&E) Dynamics
- Net PP&E remained relatively stable around 18,000 to 24,000 million USD until September 2017, when it jumped to 36,219 million USD. This level was maintained through March 2019 before a precipitous decline to 9,806 million USD by June 2019. The magnitude of this decrease suggests the removal of significant physical infrastructure from the balance sheet.
- Current Asset and Liquidity Analysis
- Current assets mirrored the overall asset trend, peaking at 54,801 million USD in September 2017 before collapsing to 10,623 million USD by June 2019. Cash and cash equivalents showed significant instability, peaking at 13,482 million USD in December 2018, then dropping to 1,661 million USD by June 2019. Working capital components, specifically accounts receivable and inventories, also spiked during the 2017-2019 window before returning to levels significantly lower than the 2015 baseline.
- Other Noncurrent Investments
- Investments in nonconsolidated affiliates and other investments followed the broader trend of expansion and subsequent contraction. Other investments, which hovered around 2,400 to 3,000 million USD for several years, effectively vanished by June 2019, dropping to 29 million USD. This further supports the conclusion that a comprehensive restructuring or separation of entities occurred in the second quarter of 2019.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?