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
Current Assets: Selected Items
Based on: 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-31).
Total assets remained relatively stable over the six-year period, fluctuating between a low of 19,736 million US dollars in 2016 and a peak of 21,981 million US dollars in 2014. The asset structure shows a gradual transition toward a higher concentration of noncurrent assets relative to current assets by the end of the period.
- Current Asset Trends
- Current assets experienced volatility, peaking at 10,625 million US dollars in 2015 before declining to 8,157 million US dollars in 2016 and recovering slightly to 8,651 million US dollars in 2017. This fluctuation was primarily driven by cash and cash equivalents, which saw significant swings, dropping from 3,701 million US dollars in 2015 to 1,676 million US dollars in 2016. Short-term investments exhibited a consistent downward trajectory, nearly disappearing by 2017. In contrast, trade receivables showed a general increase, rising from 1,897 million US dollars in 2012 to 2,161 million US dollars in 2017, while inventory levels grew steadily from 2,839 million US dollars to 3,340 million US dollars over the same timeframe.
- Noncurrent Asset Trends
- Noncurrent assets demonstrated a long-term growth trend, increasing from 10,566 million US dollars in 2012 to 12,682 million US dollars in 2017. The primary driver of this growth was Property, Plant, and Equipment (PPE), which rose consistently from 4,365 million US dollars to 5,930 million US dollars, suggesting sustained capital investment in infrastructure. Goodwill increased from 3,435 million US dollars in 2012 to a peak of 4,319 million US dollars in 2014, before stabilizing around 4,088 million US dollars by 2017. Other intangible assets peaked in 2014 at 1,554 million US dollars but trended downward to 1,024 million US dollars by 2017, indicating amortization exceeding new acquisitions of intangible assets.
The overall financial position reflects a strategic shift toward long-term tangible assets. While liquidity markers such as cash and short-term investments declined significantly toward the end of the period, the increase in PPE and the stability of goodwill indicate a focus on expanding operational capacity and maintaining the value of acquired entities.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?