Common-Size Balance Sheet: Assets
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- Income Statement
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Analysis of Revenues
- Analysis of Debt
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General Mills Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets showed a fluctuating pattern, starting at 3.75% in 2014, declining sharply to 1.52% in 2015, then recovering somewhat to around 3.5% during 2016 and 2017, followed by a decrease below 1.5% from 2018 onwards. This indicates a reduction in readily available liquidity towards the latter years.
- Receivables
- Receivables as a percentage of total assets remained relatively stable across the period, fluctuating narrowly between about 5.5% and 6.6%, with a slight downward tendency after 2017, suggesting consistent management of accounts receivable.
- Inventories
- Inventories experienced a decreasing trend, declining from 6.74% in 2014 to 5.18% in 2019, which may indicate improved inventory turnover or a strategic decision to reduce inventory holdings as a percentage of total assets.
- Deferred Income Taxes
- Deferred income taxes were reported only in the earlier years, with values of 0.32% and 0.46% in 2014 and 2015 respectively, and absent thereafter, suggesting possible changes in tax reporting or reclassification in later periods.
- Other Receivables
- Other receivables showed a modest upward trend from 0.66% to 0.83% over the six-year period, with some fluctuations, indicating a slight increase in miscellaneous receivables relative to total assets.
- Prepaid Expenses
- Prepaid expenses declined slightly from 0.81% in 2014 to 0.54% in 2018, rebounding to 0.63% in 2019, reflecting minor variability but an overall reduced share of prepaid costs within total assets.
- Derivative Receivables (Primarily Commodity-Related)
- This item showed some volatility, rising from 0.14% in 2014 to a peak of 0.37% in 2015, then declining and stabilizing around 0.13–0.16% in subsequent years, illustrating intermittent exposure or hedging activity involving commodity-related derivatives.
- Grain Contracts
- Grain contracts maintained a minimal and nearly constant percentage of total assets, around 0.01% to 0.03%, signifying a very limited portion of the asset base.
- Miscellaneous Current Assets
- Miscellaneous current assets declined over time from 0.12% in 2014 to 0.03% in 2018 and 2019, showing a gradual reduction in non-specified current asset categories.
- Prepaid Expenses and Other Current Assets
- This combined category decreased from 1.77% in 2014 to 1.3% in 2018, then increased to 1.65% in 2019, indicating some variability but an overall contraction relative to total assets.
- Current Assets
- The overall current assets as a percentage of total assets demonstrated a declining trend, starting at 18.98% in 2014, dropping to as low as 13.47% in 2018, and slightly increasing to 13.9% in 2019, signaling a possible shift towards higher investment in noncurrent assets or tighter current asset management.
- Land, Buildings, and Equipment
- This asset category showed a steady decrease from 17.03% in 2014 to 12.58% in 2019, suggesting reduced capital expenditures or asset disposals impacting property, plant, and equipment holdings.
- Goodwill
- Goodwill represented a significant and increasing portion of total assets, growing from 37.37% in 2014 to 46.48% in 2019. This trend indicates considerable acquisition activity or increased valuation of intangible assets related to acquisitions over the period.
- Other Intangible Assets
- Other intangible assets remained relatively stable, fluctuating near 20–24%, with a peak at 24.31% in 2018, reinforcing the prominent role of intangible assets in the company's asset structure.
- Investments in and Advances to Joint Ventures
- This category decreased from 2.19% in 2014 to 1.5% in 2019, indicating either a reduction in investments or diminishing contributions from joint ventures over time.
- Pension Assets
- Pension assets declined after 2014, reaching a low of 0.42% in 2016 but rebounding slightly thereafter to just above 1% by 2019. This suggests fluctuations in pension fund valuations or changes in pension accounting.
- Exchangeable Note with Related Party
- Reported only during the early years (2014–2016) with declining percentages from 0.29% to 0.06%, the item was not reported in later years, possibly due to settlement or reclassification.
- Life Insurance
- Life insurance assets remained very consistent and minor throughout the period, near 0.08% to 0.12%, indicating a modest and stable component of total assets.
- Other Noncurrent Assets
- Miscellaneous other assets exhibited some volatility but declined overall from 0.48% in 2014 to 0.35% in 2018, then increased to 0.58% in 2019, suggesting minor shifts in miscellaneous long-term assets.
- Other Assets
- Other assets as a whole showed a decreasing trend, from 4.95% in 2014 to around 3.08% in 2018, with a slight increase to 3.24% in 2019, indicating a moderate contraction in non-specified assets.
- Noncurrent Assets
- Noncurrent assets increased as a percentage of total assets, rising from 81.02% in 2014 to around 86% in 2018 and 2019, demonstrating a strategic emphasis on long-term asset holdings.
- Total Assets
- Total assets are normalized to 100% for each period, serving as the basis for proportional analyses.