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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Monsanto Co., consolidated balance sheet: assets
US$ in millions
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).
The financial data reveals several noteworthy trends in the company's assets over the six-year period from 2012 to 2017.
- Cash and Cash Equivalents
- These fluctuated significantly, initially increasing from 3,283 million USD in 2012 to a peak of 3,701 million USD in 2015, followed by a sharp decline to 1,676 million USD in 2016, and a modest recovery to 1,856 million USD in 2017. This suggests periods of substantial cash usage or investment activities affecting liquidity.
- Short-term Investments
- Short-term investments showed a consistent downward trend, decreasing markedly from 302 million USD in 2012 to a minimal 8 million USD in 2017. This decline indicates a reduction in highly liquid investment holdings.
- Trade Receivables, Net
- Trade receivables experienced fluctuations, declining from 1,897 million USD in 2012 to 1,636 million USD in 2015 before rising steadily to 2,161 million USD by 2017. This pattern reflects variability in credit sales or collections efficiency.
- Miscellaneous Receivables
- These increased gradually from 620 million USD in 2012 to 827 million USD in 2017, indicating a steady growth in other receivable components.
- Deferred Tax Assets
- Current deferred tax assets grew modestly from 534 million USD to 743 million USD between 2012 and 2015, after which data is missing. Noncurrent deferred tax assets declined from 551 million USD in 2012 to 277 million USD in 2015 but increased again to 613 million USD in 2016 before slightly dropping to 564 million USD in 2017, showing volatility in tax-related asset recognition.
- Inventory, Net
- Inventory levels rose steadily from 2,839 million USD in 2012 to a peak of 3,597 million USD in 2014, then decreased somewhat and stabilized around 3,300 million USD through 2017, implying adjustments in stock management or sales forecasts.
- Assets Held for Sale
- Reported only in 2016 and 2017, values of 272 million USD and 199 million USD respectively suggest the company was preparing to dispose of certain assets during these years.
- Other Current Assets
- These grew consistently from 183 million USD in 2012 to 260 million USD in 2017, indicating a slight increase in miscellaneous current assets.
- Current Assets
- Current assets rose from 9,658 million USD in 2012 to a peak of 10,625 million USD in 2015, then dropped notably to 8,157 million USD in 2016 before recovering partially to 8,651 million USD in 2017, corresponding with changes in cash, investments, and receivables.
- Property, Plant and Equipment, Net
- There was a consistent upward trend from 4,365 million USD in 2012 to 5,930 million USD in 2017, reflecting ongoing capital investment and asset growth.
- Goodwill
- Goodwill increased from 3,435 million USD in 2012 to a peak of 4,319 million USD in 2014, then declined slightly but remained relatively stable around 4,000 million USD, indicating acquisitions or impairments impacting intangible assets.
- Other Intangible Assets, Net
- Intangible assets showed a rising trend until 2014 (1,554 million USD), followed by a steady decrease to 1,024 million USD in 2017, suggesting amortization or impairment charges over the period.
- Long-term Receivables, Net
- These diminished sharply from 376 million USD in 2012 to 42 million USD in 2015, then showed a modest increase to 121 million USD in 2017, indicating changes in financing arrangements or asset collections.
- Other Assets
- Other assets fluctuated over the years with a low in 2013 (496 million USD) and a significant upswing to 955 million USD in 2017, reflecting potential reclassification or acquisition of diverse asset types.
- Noncurrent Assets
- Overall noncurrent assets grew from 10,566 million USD in 2012 to 12,682 million USD in 2017, despite some volatility, signifying steady investment and asset accumulation beyond the short term.
- Total Assets
- Total assets showed a gradual increase from 20,224 million USD in 2012 to a peak of 21,981 million USD in 2014, followed by a modest decline to 19,736 million USD in 2016, then rebounding to 21,333 million USD in 2017. This reflects a dynamic asset base influenced by the interplay of current and noncurrent asset fluctuations.
In summary, the company’s asset base has exhibited moderate growth with some volatility, especially within current assets driven by cash and short-term investments. Capital expenditures appear robust, as seen in property and equipment increases. Intangible assets have been subject to amortization or write-downs, and the presence of assets held for sale indicates some portfolio restructuring. Overall, the financial position has remained relatively strong though subject to shifts in liquidity and asset composition over the analyzed period.