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.
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- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Net Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
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Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The analyzed financial data reveals several notable trends in the company's quarterly balance sheet components over the presented periods.
- Cash and Cash Equivalents
- This line item shows considerable fluctuation. Starting around $8.9 billion at the beginning of 2020, there was a decline towards the end of 2020, followed by a general increase peaking at above $12 billion in early 2022. Subsequently, cash balances declined sharply in 2022 and into 2023, stabilizing at lower levels around $3.2 to $6.3 billion through the end of the observed periods.
- Marketable Securities
- Marketable securities remained relatively stable near $400 million until late 2022, after which they experienced a sharp increase peaking around $3.2 billion by early 2023. Following this peak, there was a pronounced decrease back to low hundreds of millions by mid 2024, indicating potential selling or reallocation of these assets.
- Accounts Receivable, net
- Accounts receivable show a generally rising trend from approximately $8.1 billion in early 2020 to fluctuating figures near $12.5 billion near late 2020 and late 2022, indicating strong sales activity or extended customer credit terms. Despite some periodic decreases, receivables remain at elevated levels around $9.5–$11 billion in the latest quarters.
- Assets Held for Sale
- Assets held for sale appear intermittently, first noted in late 2020 and again near 2024, with values approximately $1.1 to $1.2 billion. This indicates occasional strategic asset disposals within the period.
- Other Current Assets
- This category has shown a mild upward trend overall, moving from approximately $1.8 billion at the start to a peak exceeding $2.5 billion in early 2023, before modest declines and fluctuations around $2.0 to $2.1 billion toward the end of the timeframe.
- Current Assets
- Aggregate current assets have depicted growth from about $19.4 billion to nearly $25.6 billion by early 2022, followed by a decline into 2023 and stabilization around $16.2 to $19.3 billion in later periods, correlating with movements in cash and marketable securities.
- Property, Plant and Equipment, net
- PP&E has exhibited a consistent increase from about $30.9 billion to $37.2 billion over the period, indicating ongoing investments in fixed assets and potential capacity expansion or upgrades.
- Operating Lease Right-of-Use Assets
- Right-of-use assets related to operating leases have generally increased from about $3.0 billion to a peak above $4.3 billion near 2023, followed by a slight decline. This suggests evolving leasing arrangements and potentially longer-term lease commitments.
- Goodwill
- Goodwill remained relatively stable with minor fluctuations around $3.3 to $4.8 billion. There is a notable increase near late 2022 through early 2024, peaking just under $4.9 billion, possibly reflecting acquisition activities or adjustments.
- Intangible Assets, net
- Intangibles showed a generally increasing trend from about $2.2 billion to over $3.3 billion in early 2024, with some fluctuations, which might be associated with acquisition-related assets or capitalized expenses.
- Deferred Income Tax Assets
- This asset category fluctuated slightly but trended downward overall, moving from nearly $300 million down to around $110 to $135 million in the latest periods, indicating changes in tax strategies or deferred tax balances.
- Other Non-Current Assets
- There was a significant increase in other non-current assets, especially from late 2021 to early 2023, rising from under $1 billion to above $4.1 billion, before declining again to around $2 billion. This volatility might reflect non-recurring asset classifications or investments.
- Non-Current Assets
- The net value of non-current assets increased moderately from about $41.5 billion to over $51 billion, with some fluctuations in the latter periods. This reflects the growth in PP&E, intangible assets, and other long-term asset components.
- Total Assets
- Total assets showed a steady increase from approximately $60.9 billion to a peak just over $72 billion in early 2023. Thereafter, total assets fluctuated around $67 to $70 billion. This pattern illustrates a general growth in the asset base with some consolidation or reduction occurring in the final quarters observed.