Name: Generac Holdings Inc. (NYSE:GNRC) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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

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Current Assets: Selected Items

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Generac Holdings Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	147,339)	655,128)	322,883)	224,482)	138,472)
Accounts receivable, less allowance for credit losses	546,466)	374,906)	319,538)	326,133)	280,002)
Inventories	1,089,705)	603,317)	522,024)	544,750)	380,341)
Prepaid expenses and other assets	64,954)	36,382)	31,384)	25,404)	19,741)
Current assets	1,848,464)	1,669,733)	1,195,829)	1,120,769)	818,556)
Property and equipment, net	440,852)	343,936)	316,976)	278,929)	230,380)
Customer lists, net	238,722)	49,205)	55,552)	61,194)	41,064)
Patents and technology, net	492,473)	86,727)	85,546)	29,970)	39,617)
Other intangible assets, net	66,436)	9,932)	8,259)	3,043)	2,401)
Tradenames, net	243,531)	146,159)	148,377)	152,283)	152,683)
Intangible assets, net	1,041,162)	292,023)	297,734)	246,490)	235,765)
Goodwill	1,409,674)	855,228)	805,284)	764,655)	721,523)
Deferred income taxes	15,740)	1,497)	2,933)	163)	3,238)
Operating lease and other assets	121,888)	73,006)	46,913)	15,308)	10,502)
Noncurrent assets	3,029,316)	1,565,690)	1,469,840)	1,305,545)	1,201,408)
Total assets	4,877,780)	3,235,423)	2,665,669)	2,426,314)	2,019,964)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Total assets experienced a consistent upward trajectory between 2017 and 2021, growing from 2.02 billion US dollars to approximately 4.88 billion US dollars. While growth was steady through 2020, a substantial acceleration occurred in 2021, where total assets increased by approximately 50% in a single fiscal year. This expansion is driven by simultaneous increases in both current and noncurrent asset categories.

Current Asset Trends: Current assets grew from 818.6 million US dollars in 2017 to 1.85 billion US dollars by 2021. A notable shift in liquidity occurred between 2020 and 2021; cash and cash equivalents peaked at 655.1 million US dollars in 2020 before declining sharply to 147.3 million US dollars in 2021. This contraction in cash coincided with a significant surge in inventories, which rose from 603.3 million US dollars in 2020 to 1.09 billion US dollars in 2021. Additionally, accounts receivable showed a marked increase in 2021, reaching 546.5 million US dollars, suggesting an increase in credit sales or a slowing of collections during the period of expansion.
Noncurrent Asset Expansion: Noncurrent assets more than doubled over the five-year period, rising from 1.20 billion US dollars in 2017 to 3.03 billion US dollars in 2021. The most aggressive growth occurred in intangible assets and goodwill during the 2021 fiscal year. Goodwill increased from 855.2 million US dollars in 2020 to 1.41 billion US dollars in 2021. Similarly, total net intangible assets surged from 292.0 million US dollars to 1.04 billion US dollars, with the most significant contribution coming from patents and technology, which grew from 86.7 million US dollars to 492.5 million US dollars in the final year.
Fixed and Other Assets: Property and equipment, net, exhibited a steady growth pattern, increasing from 230.4 million US dollars in 2017 to 440.9 million US dollars in 2021, indicating consistent investment in physical infrastructure. Operating lease and other assets also trended upward throughout the period, growing from 10.5 million US dollars in 2017 to 121.9 million US dollars in 2021.

The overall asset structure shifted significantly in 2021. The combination of a sharp decrease in cash reserves and a simultaneous spike in goodwill, patents, and technology suggests a major acquisition or strategic investment. Furthermore, the heavy accumulation of inventory in 2021 indicates a strategic shift in working capital management or a response to supply chain requirements during a period of rapid organizational growth.

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