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.
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- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
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GE Aerospace, consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The analysis of the quarterly financial data reveals several notable trends and fluctuations across key asset categories over the presented periods.
- Cash, Cash Equivalents, and Restricted Cash
- This category exhibits a general decline from March 2020 through December 2021, dropping from $47,286 million to $15,770 million. Thereafter, it oscillates with some recovery through 2022 and 2023 but declines again in mid-2024, ending at $12,405 million by March 2025. Such volatility indicates changing liquidity positions and possibly cash management strategies responding to operational needs or market conditions.
- Investment Securities
- There are two rows identified for investment securities; short-term securities appear intermittently starting in late 2020, peaking at $12,814 million in mid-2023 before decreasing sharply to around $1,000 million by March 2025. Longer-term investment securities show a gradual decline overall from $42,299 million in early 2020 to $38,010 million by March 2025, with some fluctuations likely related to asset disposals or market value adjustments.
- Current Receivables
- Current receivables maintain relative stability with a slight downward trend from $16,925 million in March 2020 to around $9,653 million by March 2025, with a notable dip between mid-2023 and early 2025. This could indicate changes in sales volume, credit policies, or collection efficiency.
- Inventories, including Deferred Inventory Costs
- This line item increases from $15,457 million in early 2020, peaks at approximately $17,790 million in mid-2022, and experiences a notable drop to below $10,000 million in 2024 before modestly recovering to $10,504 million by March 2025. This pattern may reflect inventory build-up followed by drawdowns possibly related to shifts in production or demand.
- Other Current Assets and Contract Assets
- Other current assets exhibit inconsistent fluctuations, generally declining from $1,522 million in late 2020 to just above $1,000 million by early 2025. Current contract assets display a decline from approximately $5,764 million in late 2020 to below $3,000 million by early 2025, indicating changes in contract performance obligations or timing of revenue recognition.
- Assets of Businesses Held for Sale
- This category is significant during 2020 and early 2021, with values around $33,000 million, then rapidly diminishes, indicating divestitures or completed sales of business units.
- Property, Plant and Equipment, Net
- A gradual decrease is observed from $45,979 million in early 2020 to $15,036 million by March 2022, followed by further declines to around $7,426 million by March 2025. This substantial reduction likely reflects asset disposals, depreciation, or reclassification due to strategic changes.
- Goodwill and Other Intangible Assets
- Goodwill decreases sharply from about $26,598 million in early 2020 to nearly half at $13,304 million by mid-2024, stabilizing near $8,600 million by March 2025. A similar downward trend is noted in other intangible assets, falling from approximately $10,381 million to around $4,277 million in the same period. The declines suggest impairments, divestitures, or restructuring activities affecting intangible asset values.
- Deferred Income Taxes
- Deferred income taxes increased from approximately $10,457 million in early 2020 to a peak of $14,864 million in mid-2021 before steadily declining to about $6,956 million by March 2025, reflecting tax planning changes, asset base adjustments, or valuation allowance impacts.
- Total Assets
- Total assets decreased from a high of $262,021 million in March 2020 to about $124,123 million by March 2025. The substantial reduction over these years is chiefly due to declines in property, plant and equipment, goodwill, and assets of businesses held for sale, indicating a strategic downsizing or portfolio reconfiguration.
Overall, the data depict a company undergoing significant asset base reduction, asset sales, and restructuring, reflected in the consistent decline in fixed assets and goodwill. Liquidity, as measured by cash and equivalents, shows volatility but trends downward over the longer term. Inventories and receivables also decrease, perhaps indicating tighter operational controls or reduced business scale. The declines in deferred tax assets and investment securities complement this narrative of a leaner asset structure and potential shifts in investment policy.