Name: Hershey Co. (NYSE:HSY) | 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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Hershey Co., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	463,889)	329,266)	1,143,987)	493,262)	587,998)
Accounts receivable, trade, net	711,203)	671,464)	615,233)	568,509)	594,145)
Inventories	1,173,119)	988,511)	964,207)	815,251)	784,879)
Prepaid expenses	143,888)	129,287)	95,669)	84,058)	68,490)
Other current assets	128,307)	127,678)	158,809)	156,022)	203,669)
Prepaid expenses and other	272,195)	256,965)	254,478)	240,080)	272,159)
Current assets	2,620,406)	2,246,206)	2,977,905)	2,117,102)	2,239,181)
Property, plant and equipment, net	2,769,702)	2,586,187)	2,285,255)	2,153,139)	2,130,294)
Goodwill	2,606,956)	2,633,174)	1,988,215)	1,985,955)	1,801,103)
Other intangibles	1,966,269)	2,037,588)	1,295,214)	1,341,166)	1,278,292)
Pension	53,495)	71,618)	8,308)	—)	—)
Capitalized software, net	320,034)	260,656)	187,673)	153,842)	126,379)
Operating lease ROU assets	326,472)	351,712)	224,268)	220,678)	—)
Investments in unconsolidated affiliates	133,029)	93,089)	52,351)	—)	—)
Other non-current assets	111,959)	91,128)	83,287)	137,480)	126,605)
Other non-current assets	944,989)	868,203)	555,887)	512,000)	252,984)
Deferred income taxes	40,498)	40,873)	29,369)	31,033)	1,166)
Non-current assets	8,328,414)	8,166,025)	6,153,940)	6,023,293)	5,463,839)
Total assets	10,948,820)	10,412,231)	9,131,845)	8,140,395)	7,703,020)

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).

Total assets exhibited a consistent upward trajectory over the five-year period, increasing from US$ 7.70 billion in 2018 to US$ 10.95 billion by the end of 2022. This growth is driven by both strategic expansions in non-current assets and fluctuations in current asset compositions.

Current Asset Trends: Cash and cash equivalents demonstrated significant volatility, peaking in 2020 at US$ 1.14 billion before declining and stabilizing at US$ 463.9 million in 2022. In contrast, inventories showed a steady and accelerating increase, rising from US$ 784.9 million in 2018 to US$ 1.17 billion in 2022, suggesting an increase in operational scale or strategic stockpiling. Accounts receivable followed a similar upward trend, growing from US$ 594.1 million to US$ 711.2 million over the analyzed period.
Fixed and Long-Term Asset Expansion: Property, plant, and equipment (net) grew steadily from US$ 2.13 billion in 2018 to US$ 2.77 billion in 2022, reflecting ongoing capital expenditure in physical infrastructure. Capitalized software also experienced substantial growth, increasing from US$ 126.4 million to US$ 320.0 million, which indicates a sustained investment in digital capabilities and internal systems.
Intangible Assets and Acquisition Activity: A significant structural shift occurred in 2021, characterized by a sharp increase in both goodwill and other intangibles. Goodwill rose from US$ 1.99 billion in 2020 to US$ 2.63 billion in 2021, while other intangibles increased from US$ 1.30 billion to US$ 2.04 billion in the same period. This pattern is strongly indicative of a major acquisition or business combination during the 2021 fiscal year.

The overall asset structure reveals a transition toward a more asset-heavy balance sheet, with non-current assets growing from US$ 5.46 billion in 2018 to US$ 8.33 billion in 2022. The combined growth of fixed assets, intangible assets, and software suggests a multifaceted growth strategy involving organic capacity expansion, technological investment, and inorganic growth through acquisitions.

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