Name: Hilton Worldwide Holdings Inc. (NYSE:HLT) | 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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Hilton Worldwide Holdings Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	800)	1,209)	1,427)	3,218)	538)
Restricted cash and cash equivalents	75)	77)	85)	45)	92)
Accounts receivable, net of allowance for credit losses	1,487)	1,327)	1,068)	771)	1,261)
Prepaid expenses	131)	105)	89)	70)	130)
Other	121)	152)	202)	98)	72)
Current assets	2,614)	2,870)	2,871)	4,202)	2,093)
Goodwill	5,052)	5,032)	5,071)	5,095)	5,159)
Brands	4,846)	4,840)	4,883)	4,904)	4,877)
Management and franchise contracts, net	1,064)	887)	758)	653)	780)
Other intangible assets, net	173)	161)	194)	266)	421)
Intangible assets, net	6,083)	5,888)	5,835)	5,823)	6,078)
Operating lease right-of-use assets	618)	662)	694)	772)	867)
Property and equipment, net	382)	280)	305)	346)	380)
Deferred income tax assets	140)	204)	213)	194)	100)
Other	512)	576)	452)	323)	280)
Intangibles and other assets	12,787)	12,642)	12,570)	12,553)	12,864)
Total assets	15,401)	15,512)	15,441)	16,755)	14,957)

Based on: 10-K (reporting date: 2023-12-31), 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).

Total assets exhibited a peak in 2020 at 16,755 million US$, followed by a correction and stabilization around 15,401 million US$ by the end of 2023. The overall asset structure is characterized by a heavy concentration in non-current intangible assets, while current assets show significant volatility linked to liquidity management.

Liquidity and Current Asset Trends: A substantial increase in cash and cash equivalents was observed in 2020, rising from 538 million US$ in 2019 to 3,218 million US$. This surge drove current assets to a five-year high of 4,202 million US$ in the same period. Subsequently, a consistent downward trend in cash reserves occurred, declining to 800 million US$ by 2023. Conversely, accounts receivable, net of allowance for credit losses, experienced a dip to 771 million US$ in 2020 before recovering steadily to 1,487 million US$ in 2023, suggesting a restoration and expansion of operational revenue streams.
Intangible Assets and Brand Value: Intangible assets, net, remained the dominant component of the balance sheet, maintaining a valuation between 5,823 million US$ and 6,083 million US$ throughout the period. Goodwill and brand values remained remarkably stable, with brands holding steady near 4,846 million US$ and goodwill around 5,052 million US$ by 2023. A notable growth pattern is observed in management and franchise contracts, which increased from 780 million US$ in 2019 to 1,064 million US$ in 2023, indicating an expansion of the company's franchise network and contractual assets.
Fixed and Other Non-Current Assets: Property and equipment, net, remained a relatively small portion of the total asset base, fluctuating between 280 million US$ and 382 million US$. A gradual decline was observed in operating lease right-of-use assets, which decreased from 867 million US$ in 2019 to 618 million US$ in 2023. Other intangible assets showed a steady decline from 421 million US$ in 2019 to 173 million US$ in 2023, suggesting the amortization of older intangible holdings without significant new acquisitions in that specific category.

The analysis indicates a strategic transition from a period of high liquidity preservation in 2020 back to a normalized operational state. The consistent growth in franchise contracts alongside the stability of brand and goodwill values reinforces a business model centered on intangible asset leverage and franchise expansion rather than physical property ownership.

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