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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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
	Marketable securities and other investments
	Trade accounts receivable, net
	Non-trade and notes receivable
	Inventories
	Prepaid expenses and other
	Current assets
	Property, plant and equipment, net
	Deferred income taxes
	Investments and other assets
	Intangible assets, net
	Goodwill
	Noncurrent assets
	Total assets

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).

Cash and cash equivalents: The cash and cash equivalents balance experienced fluctuations over the period, peaking significantly at $3.22 billion in 2019 before declining sharply to $685 million in 2020, then stabilizing around $535 million by 2022. The volatility indicates liquidity changes that may correlate with operational or strategic shifts.
Marketable securities and other investments: This category shows variability with a notable increase to $150.9 million in 2019 followed by a consistent decline through 2022, reaching $27.9 million. This suggests a reduction in temporary investments or a shift in investment strategy towards other asset classes.
Trade accounts receivable, net: Trade receivables remained relatively stable, with a moderate decline in 2020 likely due to market disruptions, followed by a recovery and gradual increase through 2022. The ending balance of $2.34 billion in 2022 reflects strong sales generation on credit terms.
Non-trade and notes receivable: This item decreased in 2020 but then rose substantially in 2022, nearly doubling compared to prior years, reaching $544 million. The growth may indicate increased financing arrangements or changes in receivable management.
Inventories: Inventories displayed a steady upward trend from $1.55 billion in 2017 to $2.21 billion in 2022, consistent with growth in operations or stockpiling strategies to manage supply chain considerations.
Prepaid expenses and other: Prepaid expenses and other current assets show a significant surge in 2022 to $6.38 billion, a marked increase from previous years where values ranged between $120 million and $244 million. This anomaly suggests a reclassification or one-time event affecting this category.
Current assets: Current assets peaked at $7.67 billion in 2019, declined sharply in 2020, and then surged to over $12 billion in 2022, primarily driven by the substantial increase in prepaid expenses. This pattern reflects substantial short-term asset fluctuations across the periods.
Property, plant and equipment, net: Net PP&E experienced a decline from 2017 through 2019, followed by an increase in 2020 and a slight decline thereafter, ending at $2.12 billion in 2022. These fluctuations may relate to capital expenditures, asset disposals, or revaluations.
Deferred income taxes: Deferred income taxes rose considerably from $36 million in 2017 to $150 million in 2019 before decreasing steadily to about $111 million by 2022, signaling potential changes in tax positions, valuation allowances, or timing differences.
Investments and other assets: Investments and other assets remained relatively stable, with a slight decreasing trend from $842 million in 2017 to $788 million in 2022, suggesting consistent but conservative management of long-term investments.
Intangible assets, net: Intangible assets declined between 2017 and 2019, from $2.3 billion to $1.78 billion, before a pronounced increase to $3.8 billion in 2020 followed by a subsequent decline to $3.14 billion in 2022. These movements may reflect significant acquisitions or impairments.
Goodwill: Goodwill decreased slightly from $5.59 billion in 2017 to $5.45 billion in 2019, then rose significantly to nearly $7.87 billion in 2020, remaining elevated through 2022 with a slight reduction to $7.74 billion. This pattern suggests acquisition activity in 2020, contributing to intangible asset growth.
Noncurrent assets: Noncurrent assets showed a dip from $10.7 billion in 2017 to $9.9 billion in 2019, followed by a strong increase to $14.85 billion in 2020, then a slight decline through 2022 to $13.9 billion. The spike in 2020 aligns with increases in goodwill and intangible assets, indicating significant capital investments or acquisitions during that period.
Total assets: Total assets rose steadily from $15.5 billion in 2017 to $17.6 billion in 2019, increased further to $19.7 billion in 2020, and reached $25.9 billion by mid-2022. The overall growth reflects expansion through asset acquisitions, investment buildup, and possible capitalization of intangibles.

Assets: Selected Items

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Current Assets: Selected Items