Stock Analysis on Net
Stock Analysis on Net

Hershey Co. (NYSE:HSY)

$22.49

This company has been moved to the archive! The financial data has not been updated since July 27, 2023.

Common-Size Balance Sheet: Assets

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Hershey Co., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents
Accounts receivable, trade, net
Inventories
Prepaid expenses
Other current assets
Prepaid expenses and other
Current assets
Property, plant and equipment, net
Goodwill
Other intangibles
Pension
Capitalized software, net
Operating lease ROU assets
Investments in unconsolidated affiliates
Other non-current assets
Other non-current assets
Deferred income taxes
Non-current assets
Total assets

Based on: 10-K (reporting date: 2022-12-31), 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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets exhibited fluctuations during the analyzed period. It started at 7.63% in 2018, decreased to 6.06% in 2019, then sharply increased to 12.53% in 2020, before declining to 3.16% in 2021 and slightly recovering to 4.24% in 2022. This volatility may reflect changes in liquidity management or cash flow patterns.
Accounts Receivable, Trade, Net
Accounts receivable as a percentage of total assets showed a gradual decline from 7.71% in 2018 to 6.45% in 2021, followed by a minor increase to 6.5% in 2022. This steady decrease implies improved collection efficiency or changes in credit policies until 2021, with stabilization thereafter.
Inventories
The inventory ratio remained relatively stable, ranging narrowly between 9.49% and 10.71% over the five years. Despite minor fluctuations, there was a noticeable dip in 2021 to 9.49%, subsequently rising to 10.71% in 2022, suggesting inventory management adjustments or demand variations.
Prepaid Expenses
Prepaid expenses increased consistently from 0.89% in 2018 to 1.31% in 2022. This steady rise represents a greater allocation of resources to advance payments or similar arrangements.
Other Current Assets and Prepaid Expenses and Other
Both categories exhibited a downward trend. Other current assets declined from 2.64% in 2018 to 1.17% in 2022. Similarly, the combined measure of prepaid expenses and other decreased from 3.53% to 2.49% over the period, indicating a reduction in miscellaneous current asset components.
Current Assets
The share of current assets in total assets decreased from 29.07% in 2018 to 21.57% in 2021, followed by a partial recovery to 23.93% in 2022. The decline suggests a shift towards greater long-term asset allocation during this timeframe, with some reversal toward year-end 2022.
Property, Plant and Equipment, Net
The percentage allocation to property, plant, and equipment steadily contracted from 27.66% in 2018 to 24.84% in 2021, then slightly rose to 25.3% in 2022. This modest downward trend may indicate asset disposals or slower investment in fixed assets, followed by moderate replenishment.
Goodwill
Goodwill levels showed variability, decreasing from 23.38% in 2018 to 21.77% in 2020, increasing significantly to 25.29% in 2021, then marginally declining to 23.81% in 2022. This pattern could reflect acquisition activities or impairment charges during the period.
Other Intangibles
There was an initial decrease in other intangible assets from 16.59% in 2018 to 14.18% in 2020, followed by a sharp increase to 19.57% in 2021, and a subsequent decline to 17.96% in 2022. These fluctuations may be linked to intangible asset recognition or amortization effects.
Pension
The pension-related assets, not reported until 2020 at 0.09%, increased to 0.69% in 2021 before decreasing to 0.49% in 2022. The introduction and subsequent changes suggest adjustments in pension asset reporting or funding status.
Capitalized Software, Net
Capitalized software assets rose steadily from 1.64% in 2018 to 2.92% in 2022, indicating increased investment in internal software development or capitalizations.
Operating Lease ROU Assets
Right-of-use (ROU) assets related to operating leases appeared from 2019 at 2.71%, decreased slightly to 2.46% in 2020, then increased to 3.38% in 2021 before falling back to 2.98% in 2022. This pattern likely corresponds to lease accounting adoption and ongoing lease portfolio changes.
Investments in Unconsolidated Affiliates
These investments, absent in early periods, emerged at 0.57% in 2020 and grew to 1.22% by 2022, reflecting enhanced investment in equity-method affiliates.
Other Non-Current Assets
This category shows two lines, likely reflecting different components. The first fluctuated modestly around 0.9% to 1.02%, while the second increased significantly from 3.28% in 2018 to 8.63% in 2022. The substantial rise in the latter implies growth in long-term miscellaneous assets or reclassification.
Deferred Income Taxes
Deferred income taxes increased from 0.02% in 2018 to 0.38% in 2019, then stabilized in the range of 0.32% to 0.39% through 2022, indicating relatively consistent deferred tax asset or liability recognition.
Non-Current Assets
The share of non-current assets as a percentage of total assets experienced variation, rising from 70.93% in 2018 to a peak of 78.43% in 2021, before decreasing slightly to 76.07% in 2022. This reflects an overall trend towards a higher proportion of long-term asset holdings.
Total Assets
As expected, total assets consistently sum to 100% in each period, serving as the base for all proportional analyses herein.