Name: Las Vegas Sands Corp. (NYSE:LVS) | 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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Las Vegas Sands Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	6,311)	1,854)	2,121)	4,226)	4,648)
Restricted cash and cash equivalents	—)	16)	16)	16)	13)
Accounts receivable, net of provision for credit losses	267)	202)	338)	844)	726)
Inventories	28)	22)	32)	37)	35)
Prepaid expenses and other	138)	113)	137)	182)	144)
Current assets of discontinued operations held for sale	—)	3,303)	—)	—)	—)
Current assets	6,744)	5,510)	2,644)	5,305)	5,566)
Loan receivable	1,165)	—)	—)	—)	—)
Property and equipment, net	11,451)	11,850)	15,109)	14,844)	15,154)
Restricted cash	125)	—)	—)	—)	—)
Deferred income taxes, net	131)	297)	318)	282)	368)
Leasehold interests in land, net	2,128)	2,166)	2,256)	2,272)	1,198)
Intangible assets, net	64)	19)	25)	42)	72)
Other assets, net	231)	217)	455)	454)	189)
Noncurrent assets	15,295)	14,549)	18,163)	17,894)	16,981)
Total assets	22,039)	20,059)	20,807)	23,199)	22,547)

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 fluctuating trend over the five-year period, peaking at 23,199 million in 2019 before declining to a low of 20,059 million in 2021 and recovering to 22,039 million by the end of 2022. This movement reflects a significant reallocation of capital and changes in the composition of both current and noncurrent assets.

Liquidity and Current Asset Dynamics: Cash and cash equivalents experienced substantial volatility, decreasing from 4,648 million in 2018 to a low of 1,854 million in 2021, before surging to 6,311 million in 2022. This suggests a period of liquidity contraction followed by a significant capital infusion or cash accumulation. Accounts receivable followed a similar downward trajectory, dropping from 844 million in 2019 to 202 million in 2021, indicating a reduction in outstanding credit or a change in revenue collection patterns.
Fixed Asset and Long-Term Investment Trends: Property and equipment, net, showed a consistent decline in the latter half of the period, falling from 15,109 million in 2020 to 11,451 million in 2022. This downward trend is contrasted by leasehold interests in land, which nearly doubled from 1,198 million in 2018 to 2,272 million in 2019 and remained relatively stable thereafter. The net effect was a general contraction of the noncurrent asset base from 17,894 million in 2019 to 15,295 million in 2022.
Structural Asset Shifts: Significant structural changes are evident in the 2021 and 2022 reporting years. In 2021, current assets were temporarily inflated by 3,303 million attributed to discontinued operations held for sale. By 2022, the asset mix evolved further with the emergence of loan receivables totaling 1,165 million, representing a new category of noncurrent assets that was not present in previous years.

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