Name: Parker-Hannifin Corp. (NYSE:PH) | 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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Parker-Hannifin Corp., consolidated balance sheet: assets

US$ in thousands

	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019	Jun 30, 2018	Jun 30, 2017
Cash and cash equivalents	535,799)	733,117)	685,514)	3,219,767)	822,137)	884,886)
Marketable securities and other investments	27,862)	39,116)	70,805)	150,931)	32,995)	39,318)
Trade accounts receivable, net	2,341,504)	2,183,594)	1,854,398)	2,131,054)	2,145,517)	1,930,751)
Non-trade and notes receivable	543,757)	326,315)	244,870)	310,708)	328,399)	254,987)
Inventories	2,214,553)	2,090,642)	1,814,631)	1,678,132)	1,621,304)	1,549,494)
Prepaid expenses and other	6,383,169)	243,966)	214,986)	182,494)	134,886)	120,282)
Current assets	12,046,644)	5,616,750)	4,885,204)	7,673,086)	5,085,238)	4,779,718)
Property, plant and equipment, net	2,122,758)	2,266,476)	2,292,735)	1,768,287)	1,856,237)	1,937,292)
Deferred income taxes	110,585)	104,251)	126,839)	150,462)	57,623)	36,057)
Investments and other assets	788,057)	774,239)	764,563)	747,773)	801,049)	842,475)
Intangible assets, net	3,135,817)	3,519,797)	3,798,913)	1,783,277)	2,015,520)	2,307,484)
Goodwill	7,740,082)	8,059,687)	7,869,935)	5,453,805)	5,504,420)	5,586,878)
Noncurrent assets	13,897,299)	14,724,450)	14,852,985)	9,903,604)	10,234,849)	10,710,186)
Total assets	25,943,943)	20,341,200)	19,738,189)	17,576,690)	15,320,087)	15,489,904)

Based on: 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30).

Total assets exhibited a significant upward trajectory over the six-year period, growing from 15.49 billion US dollars in 2017 to 25.94 billion US dollars by June 30, 2022. This growth was characterized by two distinct surges: a substantial increase in noncurrent assets during 2020 and a sharp expansion of current assets in 2022.

Current Asset Composition and Liquidity: Current assets increased from 4.78 billion US dollars in 2017 to 12.05 billion US dollars in 2022. A critical driver of this growth was a disproportionate increase in prepaid expenses and other current assets, which rose from 243.97 million US dollars in 2021 to 6.38 billion US dollars in 2022. Concurrently, inventories showed a consistent year-over-year increase, rising from 1.55 billion US dollars in 2017 to 2.21 billion US dollars in 2022, suggesting an expansion in operational scale or a strategic increase in safety stock. Trade accounts receivable also trended upward, reaching 2.34 billion US dollars in 2022.; Cash and cash equivalents displayed high volatility, peaking at 3.22 billion US dollars in 2019 before declining to a period low of 535.80 million US dollars in 2022. This trend indicates a shift in liquidity management or the deployment of cash toward investments and acquisitions.
Noncurrent Asset Trends and Strategic Growth: Noncurrent assets grew from 10.71 billion US dollars in 2017 to 13.90 billion US dollars in 2022, with a notable spike in 2020. The surge in 2020 is primarily attributed to a sharp rise in goodwill, which increased from 5.45 billion US dollars in 2019 to 7.87 billion US dollars, and intangible assets, which more than doubled from 1.78 billion US dollars to 3.80 billion US dollars in the same period. These patterns are indicative of significant acquisition activity during the 2020 fiscal year.; Property, plant and equipment, net, remained relatively stable compared to intangible assets, fluctuating between 1.77 billion US dollars and 2.29 billion US dollars over the analyzed period, suggesting that growth has been driven more by inorganic acquisitions than by heavy investment in physical infrastructure.
Asset Structure Shift: The balance sheet structure shifted markedly in 2022. While noncurrent assets dominated the total asset base from 2017 through 2021, the 2022 spike in current assets—driven by the aforementioned prepaid expenses—rebalanced the proportion of liquid versus long-term assets, leading to a total asset base increase of approximately 28% in the final year alone.

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