Stock Analysis on Net
Stock Analysis on Net

Reynolds American Inc. (NYSE:RAI)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 3, 2017.

Common-Size Balance Sheet: Assets
Quarterly Data

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Reynolds American Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012 Jun 30, 2012 Mar 31, 2012
Cash and cash equivalents
Short-term investments
Accounts receivable
Accounts receivable, related party
Notes receivable
Other receivables
Inventories
Deferred income taxes, net
Other current assets
Current assets
Property, plant and equipment, net of accumulated depreciation
Trademarks and other intangible assets, net of accumulated amortization
Goodwill
Other assets and deferred charges
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31).

The analysis of the quarterly financial data reveals several notable trends and shifts in the composition of assets over the observed periods.

Cash and Cash Equivalents
This asset category exhibits considerable volatility over time. Starting at 14.37% of total assets in the first quarter of 2012, it experienced marked decreases and recoveries, generally trending downward from 2014 onwards. By early 2016, the proportion fell to single digits, reaching lows around 3.7% to 4.01%. A moderate recovery is seen at the start of 2017 with an increase to 6.07%.
Short-term Investments
Data is absent for most periods, with minimal values appearing only from mid-2015 to early 2016. The values remain very low, under 1% of total assets, indicating limited investment in this asset type during the latter part of the timeline.
Accounts Receivable (including related parties)
The combined accounts receivable components remain relatively stable but on a downward trend in recent years. Individual accounts receivable percentages decline sharply after mid-2014, falling well below 0.2% by early 2017. Related party receivables also decline, showing a significant reduction from above 0.3% early on to about 0.08% by early 2017, indicating tighter credit or collection policies or reclassification of such assets.
Notes Receivable
This category appears sporadically with low values around 0.2% of total assets in mid to late 2012 before disappearing in subsequent periods, suggesting it is not a material asset class for the company during most of the reporting timeline.
Other Receivables
Other receivables maintain a relatively small and steady proportion of total assets, fluctuating mostly between 0.02% and 0.1% with minor variation, showing negligible impact on overall asset composition.
Inventories
Inventories show a gradual increase from approximately 5.8% in early 2012 to a peak exceeding 8% by late 2014. However, from 2015 onward, inventory levels drop significantly to about 3% of total assets and stabilize at this lower level. This change could indicate inventory reduction strategies, improved turnover, or shifts in operational focus.
Deferred Income Taxes, Net
This asset category declines steadily from around 5.6% of total assets in early 2012 to below 2% by 2015 and remains low through 2016, reflecting changes in tax assets or liabilities recognized, tax planning strategies, or adjustments to deferred tax accounts.
Other Current Assets
Other current assets experience moderate fluctuation but generally decrease from about 1.45% in early 2012 to less than 0.7% toward early 2017, suggesting a diminishing role in the current asset portfolio.
Current Assets (Aggregate)
Overall current assets show a declining trend over time, from nearly 29% of total assets in early 2012, dipping to roughly 9-10% by early 2017. This reduction stems mainly from lower cash equivalents, inventories, and receivables, indicating a strategic shift or simply a balance sheet evolution towards less liquid or current asset-heavy structure.
Property, Plant and Equipment, Net
The net property, plant, and equipment component steadily increases from around 6.4% in early 2012 to about 7.9% by late 2014, then sharply declines to approximately 2.3% by early 2015 and remains around this lower level thereafter. Such a drop may relate to asset sales, reclassifications, or impairment write-downs.
Trademarks and Other Intangible Assets, Net
This category holds a substantial portion of total assets, fluctuating mostly between 14% and 16% up to 2014. Starting in 2015, there is a significant increase, exceeding 50%, and remaining above 54% through early 2017. This pronounced increase suggests major intangible asset recognition, possibly due to acquisitions, capitalization of brand value, or revaluation.
Goodwill
Goodwill comprises the largest single component of total assets, consistently above 45% in early periods and peaking at over 52% in 2013-2014. Notably, starting in 2015, goodwill decreases sharply to just above 30% and remains stable near that level, indicating asset write-downs, divestitures, or impairments affecting goodwill valuations.
Other Assets and Deferred Charges
This minor asset category declines gradually from about 1.6% in 2012 to near 0.14% in 2017, showing minimal influence.
Noncurrent Assets (Aggregate)
Noncurrent assets consistently account for the majority of total assets throughout the periods, typically ranging from around 70% to above 90%. A marked increase is seen post-2014, where noncurrent assets rise above 85%, peaking above 91% in 2016, evidencing a shift towards long-term asset holdings in the asset base.

In summary, the data exhibits a strategic shift in asset composition, reflecting a transition from liquid and current asset dominance towards a focus on intangible and noncurrent assets, notably trademarks and goodwill. Major asset reclassifications or impairments appear to occur around 2015, impacting property plant equipment and goodwill notably. The company's asset structure evolves from a balanced mix with a substantial current asset portion to one heavily weighted in intangibles and noncurrent assets by early 2017.