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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Halliburton Co., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).
Total assets experienced considerable fluctuation between 2014 and 2018. An initial increase from $32.24 billion in 2014 to a peak of $36.94 billion in 2015 was followed by a substantial decline to $25.09 billion in 2017, before a modest recovery to $25.98 billion in 2018. This overall trend warrants further investigation into the underlying drivers of these changes.
- Current Assets
- Current assets demonstrated a significant surge in 2015, reaching $21.61 billion, largely driven by a substantial increase in cash and equivalents. However, current assets then decreased considerably to $10.78 billion in 2017, before stabilizing around $11.15 billion in 2018. The volatility in cash and equivalents appears to be a primary contributor to these fluctuations. Receivables remained relatively stable between 2017 and 2018, fluctuating between $5.04 billion and $5.23 billion. Inventories showed a decreasing trend from 2014 to 2016, followed by a slight increase in 2018.
- Noncurrent Assets
- Noncurrent assets generally decreased from $17.17 billion in 2014 to $14.31 billion in 2017, then experienced a slight increase to $14.83 billion in 2018. Property, plant, and equipment, net of accumulated depreciation, exhibited a consistent downward trend from 2014 to 2016, followed by relative stability between 2017 and 2018. Goodwill increased steadily throughout the period, rising from $2.33 billion in 2014 to $2.83 billion in 2018. Deferred income taxes appeared in 2016 and increased through 2018.
- Cash and Equivalents
- Cash and equivalents experienced the most dramatic fluctuation. A significant increase from $2.29 billion in 2014 to $10.08 billion in 2015 was followed by a substantial decline to $2.01 billion in 2018. This volatility suggests significant changes in liquidity management or operational cash flow during this period.
- Assets Held for Sale
- Assets held for sale were only present in 2015, totaling $2.12 billion. Their absence in other years suggests a discrete event or restructuring activity in 2015.
The observed trends suggest a period of significant change within the asset structure. The large fluctuations in cash and equivalents, coupled with the decline in total assets, warrant further investigation into the company’s investment strategies, operational performance, and potential divestitures or acquisitions.