Name: Hubbell Inc. (NYSE:HUBB) | 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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Hubbell Inc., 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	440,500)	286,200)	259,600)	182,000)	189,000)
Short-term investments	14,300)	9,400)	9,300)	14,200)	9,200)
Accounts receivable, net of allowances	741,600)	675,300)	634,700)	683,000)	725,400)
Inventories, net	740,700)	662,100)	607,300)	633,000)	651,000)
Other current assets	84,300)	66,800)	76,700)	62,000)	69,100)
Assets held for sale, current	—)	179,500)	—)	—)	—)
Current assets	2,021,400)	1,879,300)	1,587,600)	1,574,200)	1,643,700)
Property, plant, and equipment, net	528,000)	459,500)	519,200)	505,200)	502,100)
Investments	65,900)	69,100)	71,100)	55,700)	56,300)
Goodwill	1,970,500)	1,871,300)	1,923,300)	1,811,800)	1,784,400)
Other intangible assets, net	669,900)	681,500)	810,600)	781,500)	819,500)
Other long-term assets	146,900)	143,700)	173,300)	174,600)	66,100)
Assets held for sale, non-current	—)	177,100)	—)	—)	—)
Other assets	2,853,200)	2,942,700)	2,978,300)	2,823,600)	2,726,300)
Long-term assets	3,381,200)	3,402,200)	3,497,500)	3,328,800)	3,228,400)
Total assets	5,402,600)	5,281,500)	5,085,100)	4,903,000)	4,872,100)

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, growing from US$ 4.87 billion in 2018 to US$ 5.40 billion by the end of 2022. This expansion was driven by growth in both current and long-term asset categories, reflecting a general increase in the organization's resource base.

Liquidity and Working Capital Trends: A significant increase in liquidity is observed, with cash and cash equivalents rising from US$ 189 million in 2018 to US$ 440.5 million in 2022. The most pronounced growth occurred between 2021 and 2022, where cash reserves increased by approximately 53.7%. Accounts receivable and inventories both showed growth toward the end of the period; inventories, in particular, rose sharply from US$ 607.3 million in 2020 to US$ 740.7 million in 2022, suggesting an increase in operational scale or a strategic shift in inventory management.
Intangible Asset Composition: The asset structure is heavily weighted toward intangible assets. Goodwill increased steadily from US$ 1.78 billion in 2018 to US$ 1.97 billion in 2022, indicating a trend of growth through acquisitions. Conversely, other intangible assets, net, experienced a general decline from US$ 819.5 million in 2018 to US$ 669.9 million in 2022, likely attributable to systematic amortization over time.
Fixed Assets and Long-term Investments: Property, plant, and equipment (PP&E) remained relatively stable, fluctuating slightly before reaching US$ 528 million in 2022. This suggests that the company's growth has been more reliant on acquisitions and liquid asset accumulation than on heavy investments in physical infrastructure. Long-term investments remained flat, hovering between US$ 55 million and US$ 71 million throughout the period.
Non-recurring Asset Activity: A notable anomaly occurred in 2021 with the recording of assets held for sale in both current (US$ 179.5 million) and non-current (US$ 177.1 million) categories. The absence of these items in subsequent and prior years indicates a specific divestiture event during the 2021 fiscal year.

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