Balance Sheet: Assets
Quarterly Data

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.

Raytheon Co., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Dec 31, 2019	Sep 29, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jul 1, 2018	Apr 1, 2018	Dec 31, 2017	Oct 1, 2017	Jul 2, 2017	Apr 2, 2017	Dec 31, 2016	Oct 2, 2016	Jul 3, 2016	Apr 3, 2016	Dec 31, 2015	Sep 27, 2015	Jun 28, 2015	Mar 29, 2015
Cash and cash equivalents	4,292)	2,646)	2,173)	2,093)	3,608)	2,073)	3,094)	2,748)	3,103)	2,311)	2,167)	2,186)	3,303)	2,342)	2,016)	1,934)	2,328)	2,453)	1,828)	2,906)
Short-term investments	—)	—)	—)	—)	—)	—)	—)	—)	297)	—)	410)	399)	100)	462)	703)	711)	872)	608)	666)	1,234)
Receivables, net	1,364)	1,473)	1,607)	1,424)	1,648)	1,527)	1,317)	1,639)	1,324)	1,393)	1,560)	1,319)	—)	—)	—)	—)	—)	—)	—)	—)
Contract assets	6,122)	6,498)	6,130)	5,971)	5,594)	5,715)	5,642)	5,444)	5,247)	5,892)	5,728)	5,555)	6,202)	6,469)	6,249)	5,882)	5,564)	5,649)	5,514)	5,223)
Inventories	671)	802)	932)	882)	758)	804)	725)	640)	594)	693)	581)	599)	659)	651)	671)	637)	635)	619)	519)	506)
Prepaid expenses and other current assets	633)	610)	684)	586)	528)	516)	537)	489)	761)	489)	491)	457)	414)	231)	211)	195)	413)	199)	177)	372)
Current assets	13,082)	12,029)	11,526)	10,956)	12,136)	10,635)	11,315)	10,960)	11,326)	10,778)	10,937)	10,515)	10,678)	10,155)	9,850)	9,359)	9,812)	9,528)	8,704)	10,241)
Property, plant and equipment, net	3,353)	3,103)	2,982)	2,899)	2,840)	2,639)	2,554)	2,478)	2,439)	2,248)	2,172)	2,146)	2,166)	2,053)	2,028)	2,018)	2,005)	1,934)	1,929)	1,906)
Operating lease right-of-use assets	875)	855)	888)	816)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Goodwill	14,882)	14,881)	15,882)	14,882)	14,864)	14,865)	14,865)	14,871)	14,871)	14,878)	14,827)	14,825)	14,788)	14,791)	14,791)	14,791)	14,731)	14,681)	14,683)	13,060)
Other assets, net	2,374)	1,949)	1,908)	2,023)	2,024)	1,995)	2,004)	2,188)	2,224)	2,374)	2,293)	2,383)	2,420)	2,453)	2,429)	2,661)	2,733)	3,106)	3,121)	2,591)
Noncurrent assets	21,484)	20,788)	21,660)	20,620)	19,728)	19,499)	19,423)	19,537)	19,534)	19,500)	19,292)	19,354)	19,374)	19,297)	19,248)	19,470)	19,469)	19,721)	19,733)	17,557)
Total assets	34,566)	32,817)	33,186)	31,576)	31,864)	30,134)	30,738)	30,497)	30,860)	30,278)	30,229)	29,869)	30,052)	29,452)	29,098)	28,829)	29,281)	29,249)	28,437)	27,798)

Cash and cash equivalents: The cash and cash equivalents exhibit marked volatility over the observed periods, declining initially from 2,906 million US dollars to a low of 1,828 million in mid-2015 before recovering and fluctuating thereafter. A notable peak occurs at the end of 2019, reaching 4,292 million US dollars, indicating improved liquidity or cash reserves toward the end of the period.
Short-term investments: Short-term investments decreased substantially from 1,234 million US dollars in early 2015 to 100 million at the end of 2016. Data becomes sparse after Q3 2017, suggesting reduced reliance or reporting on this asset category. The sharp decline could reflect a strategic shift towards other liquidity forms or asset reallocations.
Receivables, net: Net receivables appear only from early 2017 onwards, ranging between approximately 1,319 million and 1,648 million US dollars with no clear upward or downward trend. The values demonstrate some fluctuations but remain relatively stable, implying consistent credit sales or collection efficiency during this latter period.
Contract assets: Contract assets maintain a generally stable range between around 5,223 million and 6,498 million US dollars, peaking in late 2019 before a slight decline. This stability implies consistent recognition of revenue from contract work, with minor fluctuations possibly tied to variations in contract volume or payment timing.
Inventories: Inventories have grown moderately over time, from about 506 million US dollars in early 2015 to a high near 932 million in mid-2019, followed by a decline towards the end of 2019. The gradual increase indicates scaling operations or higher inventory levels held, with the late decline potentially reflecting improved inventory management or sales impact.
Prepaid expenses and other current assets: This category shows a general upward trend with fluctuations, increasing from 372 million US dollars in early 2015 to 761 million at the end of 2017, then stabilizing around 500-600 million in subsequent periods. The increase suggests growing prepaid outlays or capitalization of certain costs.
Current assets: Current assets fluctuated but demonstrate an overall upward trend, advancing from 10,241 million US dollars in early 2015 to 13,082 million at the end of 2019. This increase reflects improved liquidity and current resource availability, supported by rises in cash equivalents and inventories.
Property, plant and equipment, net: Property, plant, and equipment saw steady growth from 1,906 million US dollars in early 2015 to 3,353 million by the end of 2019. The continuous increase suggests ongoing capital investment in fixed assets, likely to support production capacity or operational expansion.
Operating lease right-of-use assets: The right-of-use assets under operating leases appear starting in early 2019, ranging between 816 and 888 million US dollars, and show minor fluctuations. This inclusion likely reflects adoption of accounting standards recognizing leased assets on the balance sheet.
Goodwill: Goodwill remains largely stable around 14,800 million US dollars, with a brief peak near 15,882 million in mid-2019 before reverting to prior levels. The stable goodwill balance indicates minimal acquisitions or impairments, aside from the noted temporary increase which might correspond to an acquisition or valuation adjustment.
Other assets, net: Other assets exhibit a gradual decline over the period, dropping from 2,591 million US dollars in early 2015 to a low near 1,908 million by mid-2019, slightly rebounding to 2,374 million at the end of 2019. This trend suggests divestitures, amortizations, or reclassifications within this category.
Noncurrent assets: Noncurrent assets demonstrate a modest increase overall, from 17,557 million US dollars in early 2015 to 21,484 million by the end of 2019. The rise is primarily driven by increased property, plant and equipment balances and steady goodwill, reflecting sustained investment in long-term resources.
Total assets: Total assets show a steady upward trajectory, growing from 27,798 million US dollars in early 2015 to 34,566 million at the end of 2019, marking significant asset growth. This increase combines strengthening current and noncurrent asset bases, indicating expansion and enhanced capitalization over time.

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Raytheon Co. (NYSE:RTN)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data