Balance Sheet: Assets
Quarterly Data
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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Johnson & Johnson pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Book Value (P/BV) since 2005
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Johnson & Johnson, consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).
- Cash and Cash Equivalents
- The cash and cash equivalents show considerable volatility over the periods analyzed. Starting at 15,530 million USD in March 2020, the balance fluctuates, reaching a peak of 38,474 million USD in March 2025 before declining again to 18,231 million USD by September 2025. This suggests periodic liquidity adjustments, possibly reflecting operational or investment cycles.
- Restricted Cash
- Restricted cash is reported only once, reaching 7,695 million USD in April 2023, with no subsequent data. This may indicate a new classification or a specific event affecting cash restrictions during that quarter.
- Marketable Securities
- Marketable securities exhibited an upward trend from 2,494 million USD in March 2020 to a high of approximately 22,724 million USD in October 2022, followed by a sharp decline to below 1,000 million USD by April 2024 and then stabilizing around 300 million USD. This pattern could reflect strategic repositioning of investments or liquidity needs.
- Accounts Receivable
- Accounts receivable remained relatively stable, ranging from roughly 13,576 million USD in December 2020 to 17,846 million USD in September 2025, with gradual increases suggesting consistent sales growth or credit extension.
- Inventories
- Inventories steadily increased from 8,868 million USD in March 2020 to 14,146 million USD by September 2025. The increase is gradual but consistent, potentially reflecting higher production or increased stockpiling in anticipation of demand.
- Prepaid Expenses and Other Current Assets
- These assets displayed fluctuations, initially rising from 2,358 million USD in March 2020 to a peak of 4,514 million USD in July 2023, then slightly declining and stabilizing around 4,000 million USD. This may indicate variable prepayments or other current asset management changes.
- Assets Held for Sale
- Limited data is available, with small amounts reported early in the period, disappearing thereafter, which may indicate that previously held assets were sold or reclassified.
- Current Assets
- Current assets measured a general increase from 44,226 million USD in March 2020 to 71,551 million USD in March 2025, followed by a decline. This increase appears driven largely by marketable securities and receivables, showing growth in short-term liquidity and operational assets.
- Property, Plant, and Equipment (PPE) and Depreciation
- PPE at cost generally increased over time with minor fluctuations, peaking at 53,375 million USD in September 2025. Accumulated depreciation also increased, reflecting asset aging and ongoing depreciation expense. The net PPE shows steady growth, indicating continuous investment in long-term assets despite depreciation.
- Intangible Assets and Goodwill
- Intangible assets and goodwill exhibit notable fluctuations. Intangible assets decreased significantly from 47,338 million USD in March 2020 to around 35,021 million USD in October 2023 before recovering partially. Goodwill increased until early 2023, peaking above 45,500 million USD, followed by a decline and then another rise towards 48,000 million USD. Such volatility likely reflects acquisitions, impairments, or revaluations.
- Deferred Taxes on Income
- Deferred taxes showed some variability without a clear trend, generally fluctuating around 8,000 to 10,000 million USD, indicating changes in tax timing differences.
- Other Assets and Non-current Assets
- Other assets vary but generally trend upwards, rising from 5,042 million USD in March 2020 to approximately 12,416 million USD by September 2025. Non-current assets showed initial growth up to 132,084 million USD in December 2022 before a decline and stabilization around 138,000 million USD later, suggesting capital investment activity balanced by disposals or impairments.
- Total Assets
- Total assets grew from 155,017 million USD in March 2020 to a peak of nearly 195,969 million USD in April 2023, then declined and stabilized above 190,000 million USD. This overall increase aligns with growth in current and non-current assets, indicating expansion in company asset base over time.