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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- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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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).
The financial data reveals a series of noteworthy trends and fluctuations across the reported periods. These trends pertain to liquidity, asset composition, and overall asset base.
- Liquidity and Current Asset Trends
- Cash and equivalents saw a significant increase from 2014 to 2015, surging from 2,291 million USD to 10,077 million USD, indicating a substantial enhancement in liquidity during that year. However, from 2015 onwards, cash reserves declined steadily, reaching 2,008 million USD by the end of 2018, suggesting a reduction in readily available funds over the latter years.
- Receivables, net of bad debts, demonstrated a downward trend from 7,564 million USD in 2014 to a low of 3,922 million USD in 2016, followed by a recovery to 5,234 million USD in 2018. This pattern could indicate fluctuations in credit sales or collection efficiency.
- Inventories also declined from 3,571 million USD in 2014 to 2,275 million USD in 2016 but reversed direction thereafter, increasing to 3,028 million USD by 2018. This rebound may reflect inventory buildup or changes in inventory management.
- The inclusion of assets held for sale at 2,115 million USD in 2015 and the presence of current deferred income taxes at 421 million USD in 2014 only suggest occasional recognition of certain asset categories, with these items absent or zero in other years.
- Other current assets peaked in 2015 at 1,683 million USD but declined steadily afterwards to 881 million USD by 2018.
- Overall, current assets rose dramatically to 21,609 million USD in 2015 but then saw a sharp decline to approximately 11,000 million USD in subsequent years, indicating a contraction in short-term asset holdings after 2015.
- Fixed and Noncurrent Assets
- Property, plant, and equipment (PPE), net of depreciation, exhibited a marked decrease from 12,475 million USD in 2014 down to 8,532 million USD in 2016, maintaining a relatively stable level around this figure through 2018 with a slight recovery to 8,961 million USD. This trend suggests asset disposals, depreciation, or reduced capital expenditures before stabilizing.
- Goodwill values fluctuated moderately, decreasing to 2,109 million USD in 2015 then steadily increasing to 2,825 million USD by 2018, which could reflect acquisitions or impairment adjustments.
- Deferred income taxes appeared only from 2016 onwards, peaking at 1,960 million USD and declining moderately thereafter, which may indicate changes in deferred tax assets or liabilities recognition.
- Other assets decreased progressively from 2,367 million USD in 2014 to 1,661 million USD in 2018, reflecting reductions in miscellaneous noncurrent assets.
- Total noncurrent assets decreased gradually from 17,172 million USD in 2014 to a low of 14,308 million USD in 2017, with a slight recovery to 14,831 million USD in 2018, underscoring a contraction in long-term asset holdings over time.
- Total Asset Overview
- Total assets peaked in 2015 at 36,942 million USD, aligned with the spike in current assets and high cash balances that year. However, a significant decline followed, dropping to 27,000 million USD by 2016 and further decreasing to around 25,000 million USD by 2017 before a modest increase to 25,982 million USD in 2018. This trend indicates a contraction of the overall asset base, primarily driven by reductions in current assets and PPE.
In summary, the company experienced a notable liquidity surge in 2015 followed by a steady decline. Current asset levels peaked in 2015 but were subsequently reduced substantially. Fixed assets and goodwill saw decreases followed by stabilization or mild recovery. Total assets showed a peak in 2015 with a subsequent contraction and partial recovery. These patterns suggest a period of substantial asset reallocation or divestiture around 2015-2016, with efforts to stabilize and recover asset levels in the following years.