Name: Reynolds American Inc. (NYSE:RAI) | 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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Reynolds American Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012
Cash and cash equivalents	2,051)	2,567)	966)	1,500)	2,502)
Short-term investments	—)	149)	—)	—)	—)
Accounts receivable	66)	68)	116)	106)	87)
Accounts receivable, related party	113)	38)	41)	56)	61)
Notes receivable	—)	—)	—)	37)	35)
Other receivables	10)	35)	12)	16)	16)
Inventories	1,645)	1,734)	1,281)	1,127)	984)
Deferred income taxes, net	—)	1,032)	703)	606)	908)
Other current assets	353)	564)	204)	207)	219)
Current assets	4,238)	6,187)	3,323)	3,655)	4,812)
Property, plant and equipment, net	1,348)	1,255)	1,203)	1,074)	1,037)
Trademarks and other intangible assets, net of accumulated amortization	29,444)	29,467)	2,421)	2,417)	2,455)
Goodwill	15,992)	15,993)	8,016)	8,011)	8,011)
Other assets and deferred charges	73)	322)	233)	245)	242)
Noncurrent assets	46,857)	47,037)	11,873)	11,747)	11,745)
Total assets	51,095)	53,224)	15,196)	15,402)	16,557)

Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

Total assets exhibited a period of relative stability between 2012 and 2014, followed by a substantial expansion in 2015. Total assets increased from 15,196 million US dollars in 2014 to 53,224 million US dollars in 2015, before slightly contracting to 51,095 million US dollars by the end of 2016.

Liquidity and Current Asset Management: Cash and cash equivalents showed significant volatility, reaching a low of 966 million US dollars in 2014 before rebounding to 2,567 million US dollars in 2015. This suggests a period of high cash expenditure followed by a capital injection or strategic reallocation. Total current assets peaked in 2015 at 6,187 million US dollars, primarily driven by the recovery in cash positions and a temporary spike in other current assets, which reached 564 million US dollars in that same year.
Operational Asset Trends: Inventories demonstrated a consistent upward growth pattern from 2012 through 2015, increasing from 984 million US dollars to 1,734 million US dollars, before a slight correction to 1,645 million US dollars in 2016. Property, plant and equipment, net, grew steadily each year, rising from 1,037 million US dollars in 2012 to 1,348 million US dollars in 2016, reflecting incremental investment in physical infrastructure.
Intangible Assets and Goodwill: The most significant structural change occurred within noncurrent assets during 2015. Trademarks and other intangible assets surged from 2,421 million US dollars in 2014 to 29,467 million US dollars in 2015. Simultaneously, goodwill doubled from 8,016 million US dollars in 2014 to 15,993 million US dollars in 2015. This abrupt escalation in intangible value and goodwill indicates a major corporate acquisition or business combination during the 2015 fiscal year, shifting the balance sheet composition toward non-physical assets.
Receivables and Other Assets: Accounts receivable remained relatively low and stable throughout the period. However, a notable increase in related party receivables was observed in 2016, rising to 113 million US dollars from 38 million US dollars in the previous year. Other noncurrent assets and deferred charges saw a sharp reduction in 2016, dropping to 73 million US dollars from 322 million US dollars in 2015.

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