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LyondellBasell Industries N.V. (NYSE:LYB)

This company has been moved to the archive! The financial data has not been updated since August 2, 2019.

Common-Size Balance Sheet: Assets

LyondellBasell Industries N.V., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Cash and cash equivalents 1.17 5.81 3.73 4.06 4.25
Restricted cash 0.24 0.02 0.01 0.03 0.01
Short-term investments 3.15 4.99 4.89 4.68 6.56
Trade, net 11.86 12.82 11.59 10.38 13.29
Related parties 0.52 0.69 0.54 0.68 0.91
Accounts receivable 12.39% 13.50% 12.12% 11.06% 14.20%
Inventories 15.97 16.09 16.25 17.80 18.60
Loans receivable 1.92 2.18 1.57 1.27 1.44
Renewable identification numbers 0.23 0.45 0.52 1.32 0.82
Advances to suppliers 0.20 0.13 0.16 0.24 0.27
Income tax receivable 0.60 0.11 0.35 1.38 0.52
VAT receivables 0.77 0.70 0.41 0.50 0.31
Deferred tax assets 0.00 0.00 0.00 0.00 0.28
Prepaid insurance 0.09 0.10 0.12 0.15 0.17
Financial derivatives 0.28 0.25 0.26 0.09 0.00
Other 0.34 0.46 0.55 0.44 0.53
Prepaid expenses and other current assets 4.44% 4.38% 3.94% 5.39% 4.34%
Current assets 37.36% 44.79% 40.95% 43.02% 47.96%
Property, plant and equipment, net 44.12 41.96 43.24 39.51 36.07
Investment in PO joint ventures 1.66 1.60 1.77 1.74 1.58
Equity investments 5.70 6.24 6.72 7.07 6.74
Other investments and long-term receivables 0.08 0.06 0.09 0.54 0.18
Investments and long-term receivables 7.44% 7.91% 8.57% 9.35% 8.50%
Goodwill 6.41 2.18 2.25 2.36 2.33
Intangible assets, net 3.41 2.17 2.35 2.81 3.17
Deferred tax assets 0.11 0.34 0.82 0.90 1.12
Debt issuance costs 0.04 0.06 0.08 0.10 0.37
Company-owned life insurance 0.22 0.21 0.23 0.24 0.22
Derivative contracts 0.42 0.10 1.26 1.43 0.16
Pension assets 0.14 0.13 0.06 0.05 0.05
Other 0.32 0.16 0.18 0.24 0.07
Other assets 1.25% 1.00% 2.64% 2.96% 1.98%
Noncurrent assets 62.64% 55.21% 59.05% 56.98% 52.04%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Between 2014 and 2018, a structural shift in the composition of total assets is observed, characterized by a transition from current assets toward noncurrent assets. Current assets decreased from 47.96% of total assets in 2014 to 37.36% in 2018, while noncurrent assets increased from 52.04% to 62.64% over the same period.

Liquidity and Cash Position
A significant reduction in liquid assets is evident. Cash and cash equivalents declined from 4.25% in 2014 to 1.17% in 2018, with a sharp drop occurring in the final year. Similarly, short-term investments decreased from 6.56% to 3.15%. This trend suggests a reduction in the proportion of highly liquid assets relative to the overall asset base.
Working Capital Components
Inventories showed a steady downward trend, moving from 18.60% of total assets in 2014 to 15.97% in 2018. Accounts receivable remained relatively more stable, though they experienced a slight decline from 14.20% in 2014 to 12.39% in 2018. These movements indicate a gradual reduction in the weight of operating current assets within the balance sheet.
Fixed Assets and Capital Intensity
Property, plant, and equipment (PP&E), net, increased consistently from 36.07% in 2014 to 44.12% in 2018. This indicates a growing concentration of capital in long-term physical infrastructure, suggesting increased investment in productive capacity or asset appreciation relative to other asset classes.
Intangible Assets and Goodwill
A notable increase in goodwill is observed in 2018, rising to 6.41% from 2.18% in 2017. Intangible assets, net, also saw a late-period increase, reaching 3.41% in 2018 after a period of decline. This spike in goodwill and intangibles suggests acquisition activity or a revaluation of assets during the 2018 fiscal year.
Long-term Investments
Investments and long-term receivables experienced a gradual contraction, declining from 8.50% in 2014 to 7.44% in 2018. This is primarily driven by a decrease in equity investments, which fell from 6.74% to 5.70% over the five-year period.

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