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.

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Johnson & Johnson, consolidated balance sheet: assets

US$ in millions

		Dec 29, 2024		Dec 31, 2023		Dec 31, 2022		Dec 31, 2021		Dec 31, 2020
	Cash and cash equivalents
	Marketable securities
	Accounts receivable trade, less allowances
	Inventories
	Prepaid expenses and other receivables
	Current assets
	Property, plant and equipment, net
	Intangible assets, net
	Goodwill
	Deferred taxes on income
	Other assets
	Non-current assets
	Total assets

Based on: 10-K (reporting date: 2024-12-29), 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).

The financial data reveals several notable trends across multiple asset categories over the five-year period.

Cash and Cash Equivalents: The company experienced a steady increase in cash and cash equivalents, rising from $13,985 million at the end of 2020 to $24,105 million by the end of 2024. This nearly doubling of liquidity indicates improved cash management or stronger cash inflows during the period.
Marketable Securities: Marketable securities showed significant volatility, peaking at $17,121 million in 2021 before dropping sharply to $417 million at the end of 2024. This suggests a strategic shift away from liquid investments or possible utilization of these securities to fund other areas.
Accounts Receivable, Trade (Net): Accounts receivable increased steadily from $13,576 million in 2020 to a high of $16,160 million in 2022, then declined modestly to $14,842 million by 2024. The rise and subsequent reduction may reflect changes in sales volumes or credit policies.
Inventories: Inventory levels rose from $9,344 million in 2020 to $12,483 million in 2022, dipped slightly in 2023, then increased again in 2024. The fluctuations could indicate adjustments in supply chain management or shifts in demand forecasting.
Prepaid Expenses and Other Receivables: Prepaid expenses and other receivables increased over the period, notably rising from $3,132 million in 2020 to around $4,085 million in 2024, with some variability year-to-year. This may reflect increased prepaid activities or other receivable items in the business operations.
Current Assets: Despite some variances, current assets peaked in 2021 at $60,979 million before declining to $55,893 million in 2024. The decline from the peak suggests a possible reallocation of resources or changes in working capital management practices.
Property, Plant and Equipment, Net: This asset category showed modest yet consistent growth, from $18,766 million in 2020 to $20,518 million in 2024, indicating ongoing investment in long-term physical assets to support business operations.
Intangible Assets, Net: Intangible assets declined substantially from $53,402 million in 2020 to $37,618 million in 2024, with a notable drop in 2023. This reduction may be due to amortization, impairment, or disposal of intangible assets.
Goodwill: Goodwill values fluctuated, decreasing initially from $36,393 million in 2020 to $35,246 million in 2021, then rising sharply in 2022 before falling again in 2023 and recovering by 2024. Such variations may result from acquisition activities, impairment tests, or disposals.
Deferred Taxes on Income: Deferred tax assets demonstrated a general upward trend from $8,534 million in 2020 to $10,461 million in 2024, indicating possible timing differences between accounting and tax recognition or growth in deductible temporary differences.
Other Assets: Other assets showed considerable increase, especially in 2023 reaching $14,153 million before settling at $11,414 million in 2024, reflecting changes in miscellaneous non-current asset composition or new asset recognition.
Non-Current Assets: Non-current assets peaked at $132,084 million in 2022, decreased significantly in 2023, then partially recovered in 2024. This reflects the combined behavior of property, intangible assets, goodwill, deferred taxes, and other assets, indicating varying investment and impairment activities.
Total Assets: Total assets increased from $174,894 million in 2020 to a high of $187,378 million in 2022, then declined to $167,558 million in 2023 before rebounding to $180,104 million in 2024. This pattern suggests an overall expansion in asset base, tempered by notable decreases possibly linked to asset revaluation or disposals.

Assets: Selected Items

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Current Assets: Selected Items