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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Linde plc pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
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Linde plc, consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 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: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data reveals several notable trends across the reported quarterly periods. A comprehensive examination of assets indicates varying dynamics within current and long-term components.
- Cash and Cash Equivalents
- This category shows considerable fluctuations over time, with a high point around March 2020 (US$4,014 million), peaking again towards the end of 2022 (US$5,436 million), then experiencing some declines and rebounds into 2024. Despite variability, cash balances generally remain within a range of approximately US$3,100 million to US$5,900 million, indicating periodic liquidity management adjustments.
- Accounts Receivable, Net
- Accounts receivable remain relatively stable, with gradual increases through 2021 and 2022, peaking around March 2024 (US$5,009 million). This upward trend suggests incremental growth in credit sales or extended payment terms, though slight decreases in the most recent quarters could indicate improved collection or changes in sales patterns.
- Contract Assets
- Contract assets demonstrate a declining trend from early 2020 through 2021, reaching a low around June 2022, followed by a steady increase through 2024. This may reflect changes in project progression, billing practices, or contract timing.
- Inventories
- Inventories slightly increased from early 2020 levels (~US$1,689 million) reaching a peak in 2023 (~US$2,115 million), then moderating somewhat by early 2025. The overall upward movement indicates accumulation of stock, potentially due to increased production or anticipation of demand.
- Prepaid and Other Current Assets
- These assets fluctuate but show a modest decline overall from 2020 into mid-2021, followed by some recovery and then variability through 2024 and early 2025. The peaks and troughs potentially reflect changes in advance payments or timing of expenses.
- Current Assets
- Current assets collectively mirror the trends seen in individual components, with an initial increase in 2020, a dip in 2021, and a recovery and growth phase thereafter. This cyclical pattern suggests responsive working capital management aligned with operational and market conditions.
- Property, Plant and Equipment, Net
- This long-term asset category declines from early 2020 (US$27,418 million) to lower points through 2022 (~US$22,586 million), followed by moderate recovery and stabilization around US$25,000 million by early 2025. The overall downward trend primarily reflects depreciation outpacing capital expenditures, with some reinvestment activity resuming later.
- Goodwill
- Goodwill remains relatively stable, with minor fluctuations. It peaks in late 2020 at over US$28,000 million, then gradually decreases before a partial rebound by 2023. The general stability suggests limited recent acquisition activity or impairment impacts.
- Other Intangible Assets, Net
- These assets show a declining trend from early 2020 through 2024, dropping from over US$15,000 million to closer to US$11,000 million. This reduction may denote amortization or disposals exceeding capitalization in intangibles.
- Other Long-term Assets
- These assets fluctuate around the US$4,000–5,300 million range without a clear trend, indicating relatively stable non-current asset balances outside core PPE and intangibles.
- Long-term Assets
- Long-term assets overall decrease from early 2020 high of approximately US$72,856 million to a trough in 2022 (~US$63,120 million), followed by gradual increases towards 2024 (nearly US$69,000 million). The movement corresponds largely with patterns in PPE and intangible assets, reflecting asset depreciation and reinvestment cycles.
- Total Assets
- Total assets exhibit a similar pattern, rising from under US$85,000 million in early 2020, peaking early in 2021, then declining throughout 2022 before partial recovery in succeeding quarters. This cyclical behavior suggests responses to operational shifts, investment activities, and possibly market or economic conditions impacting asset levels.