Common-Size Balance Sheet: Assets
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Eaton Corp. plc, common-size consolidated balance sheet: assets
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).
- Cash
- The proportion of cash relative to total assets exhibited a fluctuating trend, declining from 1.38% in 2020 to 0.84% in 2022, followed by an increase to 1.45% in 2024. This indicates a moderate recovery in liquidity position towards the end of the period.
- Short-term investments
- Short-term investments showed significant variation, starting at 2.09% of total assets in 2020, dropping sharply to 0.75% by 2022, then surging to a peak of 5.52% in 2023 before tapering down to 3.97% in 2024. This suggests strategic adjustments in liquid asset allocations.
- Accounts receivable, net
- The net accounts receivable proportion consistently increased over the years, rising from 9.13% in 2020 to 12.03% in 2024. This upward trend may indicate higher sales on credit or changes in credit policy impacting working capital.
- Inventory
- Inventory as a percentage of total assets rose steadily from 6.63% in 2020 to 11.01% in 2024, implying an accumulation of stock assets which could reflect increased production or demand anticipation.
- Assets held for sale
- This category appeared only in 2020 at 7.81% of total assets and was not reported in subsequent years, indicating a one-time divestment or reclassification event.
- Prepaid expenses and other current assets
- There was a slight upward movement in prepaid expenses and other current assets, increasing from 1.81% in 2020 to 2.28% in 2024, suggesting marginal growth in advance payments and similar assets.
- Current assets
- Current assets as a share of total assets displayed variability, decreasing markedly to 22.07% in 2021 from 28.84% in 2020, then progressively recovering to about 30.75% by 2024. This reflects a fluctuating short-term asset base with a strengthening in recent years.
- Net property, plant and equipment
- Net PPE remained relatively stable, slightly declining from 9.31% in 2020 to 8.99% in 2022, then rising to 9.72% in 2024, indicating consistent investment or retention in fixed assets over the period.
- Goodwill
- Goodwill represented a substantial portion of total assets but showed a gradual declining trend from 40.54% in 2020 to 38.33% in 2024, which may reflect impairment or amortization effects.
- Other intangible assets
- Other intangibles declined from 13.12% in 2020 to 12.14% in 2024, with a peak at 17.21% in 2021, indicating fluctuations likely due to acquisitions or amortization adjustments.
- Operating lease assets
- Operating lease assets steadily increased from 1.34% in 2020 to 2.10% in 2024, reflecting a growing reliance or capitalization of leased assets.
- Deferred income taxes
- Deferred income taxes remained low but showed oscillation, declining initially from 1.34% in 2020 to 0.94% in 2022, then climbing to 1.59% in 2024, indicating variability in tax timing differences.
- Other assets
- Other assets maintained a relatively stable proportion around 5.5% to 5.9%, showing minor fluctuations but no significant trend.
- Other noncurrent assets
- This category exhibited a decline from 61.85% in 2020 to 59.54% in 2024, indicating a slight reduction in other long-term asset holdings within the total asset framework.
- Noncurrent assets
- Noncurrent assets, encompassing several categories, showed a decreasing trend from 71.16% in 2020 to 69.25% in 2024, suggesting a gradual shift or rebalancing toward current assets.
- Total assets
- As expected, total assets were consistently represented as 100%, framing the relative proportions of individual asset categories.