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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EMC Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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EMC Corp., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
The analysis of the annual financial data reveals several key trends across the reported periods.
- Liquidity and Current Assets
- Cash and cash equivalents increased notably from 4,531 million US$ in 2011 to a peak of 7,891 million US$ in 2013, before declining to 6,549 million US$ by 2015. Short-term investments follow a somewhat similar pattern with fluctuations, reaching their highest value in 2013 at 2,773 million US$ and remaining relatively high through 2015. Accounts and notes receivable consistently increased from 2,937 million US$ in 2011 to 4,413 million US$ in 2014, before a slight decrease in 2015.
- Inventories rose steadily from 1,010 million US$ in 2011 to a peak of 1,334 million US$ in 2013, with a slight downward trend afterwards. Deferred income taxes within current assets rose significantly from 733 million US$ in 2011 to 1,070 million US$ in 2014 but lack data for 2015. Other current assets showed minor fluctuations and a slight decrease in 2015.
- The total current assets peaked in 2013 at 17,278 million US$, then showed a declining trend in subsequent years, ending at 15,063 million US$ in 2015.
- Noncurrent Assets
- Long-term investments increased from 4,525 million US$ in 2011 to 6,924 million US$ in 2013, followed by a steady decline to 5,508 million US$ in 2015. Property, plant, and equipment steadily grew throughout the period, reaching 3,850 million US$ in 2015, reflecting ongoing investment in physical assets.
- Intangible assets and goodwill both showed upward trends, with goodwill rising significantly from 12,155 million US$ in 2011 to 17,090 million US$ in 2015, indicating possible acquisitions or brand value increases. Intangible assets have fluctuated but ultimately increased to 2,149 million US$ by 2015.
- Deferred income taxes in noncurrent assets revealed a substantial increase in 2015 to 1,164 million US$, after relatively low values in previous years. Other assets showed modest growth over the period, reaching 1,788 million US$ in 2015.
- Noncurrent assets consistently increased from 22,685 million US$ in 2011 to 31,549 million US$ in 2015, demonstrating continued investment in long-term resources.
- Total Assets
- Total assets increased steadily from 34,268 million US$ in 2011 to 46,849 million US$ in 2013. The total remained relatively stable between 2013 and 2014 before a slight increase to 46,612 million US$ in 2015. This overall growth trend reflects asset accumulation, though the stabilization in the latter years suggests a possible shift in asset management or investment strategy.