Stock Analysis on Net
Stock Analysis on Net

ServiceNow Inc. (NYSE:NOW)

Balance Sheet: Assets
Quarterly Data

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.

ServiceNow Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

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Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 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
Cash and cash equivalents 837,309  808,725  775,778  622,925  583,581  639,722  566,204  703,629  704,846  682,854  726,495  1,104,871  1,173,457  439,915  401,238  325,067  289,113  453,450  412,305  349,073  325,354  307,981 
Short-term investments 1,505,362  1,049,980  915,317  848,148  1,069,803  1,022,391  931,718  922,411  1,044,812  1,203,105  1,052,803  567,026  518,719  535,399  498,124  481,813  517,601  447,423  388,945  379,878  397,170  437,029 
Accounts receivable, net 631,992  615,234  835,279  539,416  503,376  422,559  574,810  424,698  367,598  371,008  434,895  291,903  279,088  278,107  322,757  220,089  197,296  190,263  203,333  159,768  143,206  142,720 
Current portion of deferred commissions 191,877  182,830  175,039  158,241  152,045  144,629  139,890  126,185  119,068  115,867  118,690  96,811  85,097  78,786  76,780  62,657  57,232  55,588  51,976  47,583  44,346  42,344 
Prepaid expenses and other current assets 170,582  149,092  125,488  128,483  133,482  145,185  132,071  115,262  115,305  117,092  77,681  66,881  54,666  64,048  43,636  37,281  36,647  46,534  29,076  45,305  43,998  53,860 
Current assets 3,337,122  2,805,861  2,826,901  2,297,213  2,442,287  2,374,486  2,344,693  2,292,185  2,351,629  2,489,926  2,410,564  2,127,492  2,111,027  1,396,255  1,342,535  1,126,907  1,097,889  1,193,258  1,085,635  981,607  954,074  983,934 
Deferred commissions, less current portion 355,684  339,727  333,448  293,086  287,432  283,124  282,490  247,681  239,523  233,715  85,530  69,041  67,984  61,648  61,990  44,597  39,716  36,417  33,016  29,595  28,193  27,696 
Long-term investments 776,807  1,077,938  1,013,332  1,001,513  746,716  674,633  581,856  457,561  304,629  451,209  391,442  424,858  319,795  326,261  262,658  281,353  224,439  361,831  422,667  400,512  333,284  253,625 
Property and equipment, net 547,253  470,969  468,085  400,858  364,007  350,651  347,216  297,371  286,953  267,454  245,124  231,304  213,501  189,659  181,620  176,106  166,551  154,244  144,714  132,713  124,902  115,438 
Operating lease right-of-use assets 463,220  464,576  402,428  405,424  397,950  393,561  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Intangible assets, net 163,857  171,049  143,850  112,947  121,599  93,252  100,582  84,006  87,726  82,553  86,916  68,970  72,587  67,755  65,854  60,726  64,873  46,246  43,005  44,527  47,432  49,916 
Goodwill 211,416  207,605  156,756  153,902  152,472  151,184  148,845  143,133  143,007  128,685  128,728  108,097  104,430  96,914  82,534  84,425  83,115  57,364  55,669  55,547  57,412  54,913 
Deferred tax assets 594,155  586,021  599,633  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Other assets 71,795  73,670  77,997  91,865  90,240  78,004  73,458  59,505  59,417  50,943  49,600  39,753  35,082  31,771  36,576  39,000  37,755  24,683  22,346  18,387  18,014  8,120 
Long-term assets 3,184,187  3,391,555  3,195,529  2,459,595  2,160,416  2,024,409  1,534,447  1,289,257  1,121,255  1,214,559  987,340  942,023  813,379  774,008  691,232  686,207  616,449  680,785  721,417  681,281  609,237  509,708 
Total assets 6,521,309  6,197,416  6,022,430  4,756,808  4,602,703  4,398,895  3,879,140  3,581,442  3,472,884  3,704,485  3,397,904  3,069,515  2,924,406  2,170,263  2,033,767  1,813,114  1,714,338  1,874,043  1,807,052  1,662,888  1,563,311  1,493,642 

Based on: 10-Q (filing date: 2020-07-30), 10-Q (filing date: 2020-04-30), 10-K (filing date: 2020-02-20), 10-Q (filing date: 2019-10-25), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-27), 10-Q (filing date: 2018-11-07), 10-Q (filing date: 2018-08-08), 10-Q (filing date: 2018-05-08), 10-K (filing date: 2018-02-28), 10-Q (filing date: 2017-11-06), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-28), 10-Q (filing date: 2016-11-04), 10-Q (filing date: 2016-08-03), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-11-04), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).


Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. ServiceNow Inc.’s current assets decreased from Q4 2019 to Q1 2020 but then increased from Q1 2020 to Q2 2020 exceeding Q4 2019 level.
Property and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. ServiceNow Inc.’s property and equipment, net increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Long-term assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. ServiceNow Inc.’s long-term assets increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. ServiceNow Inc.’s total assets increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. ServiceNow Inc.’s cash and cash equivalents increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Short-term investments Amount of investment in marketable security, classified as current. ServiceNow Inc.’s short-term investments increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
Accounts receivable, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. ServiceNow Inc.’s accounts receivable, net decreased from Q4 2019 to Q1 2020 but then slightly increased from Q1 2020 to Q2 2020.