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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United Rentals Inc. pages available for free this week:
- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Price to Sales (P/S) since 2005
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United Rentals Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Cash and cash equivalents
- The cash position showed significant volatility over the observed periods, starting at $278 million in March 2018 and declining to a low of $43 million by December 2018. A notable spike occurred in March 2020, reaching $513 million, likely reflecting responses to market uncertainty. Subsequently, cash balances declined again, stabilizing around $100 million to $300 million through 2021 and early 2022, with a moderate increase to $106 million in December 2022.
- Accounts receivable, net
- Accounts receivable demonstrated a general upward trend, increasing from $1,154 million in March 2018 to $2,004 million by December 2022, with minor fluctuations. This reflects growth in sales or services rendered on credit, with especially strong increases post-2020, indicating possibly higher revenue or extended credit terms.
- Inventory
- Inventory levels gradually rose from $84 million in March 2018 to $232 million in December 2022, with some periods of stabilization or slight decline. The overall growth suggests accumulation of stock or increased investment in materials, consistent with scaling operations or preparing for future demand.
- Prepaid expenses and other assets
- This category exhibited fluctuations, rising from $74 million in March 2018 to peaks such as $375 million in December 2020 and $381 million in December 2022. These spikes may correspond to payments made in advance for certain costs or increased recognition of other assets during those quarters.
- Current assets
- Current assets increased moderately from $1,590 million in March 2018 to $2,723 million by December 2022, with some variability. The upward trend is driven by changes in cash, receivables, inventory, and prepaid expenses, indicating expanding short-term resource availability.
- Rental equipment, net
- Net rental equipment consistently increased over time, from $7,678 million in March 2018 to $13,277 million in December 2022. Periods of deceleration appear around 2020 but the overall trajectory suggests substantial capital investment in rental assets, supporting growth in the core business area.
- Property and non-rental equipment, net
- This asset category showed incremental increases from $467 million in March 2018 to $839 million by December 2022, indicating steady investment in property and equipment not related directly to rentals. Growth was relatively stable with minor fluctuations.
- Property and equipment (rental and non-rental), net
- Total property and equipment assets rose from $8,145 million in March 2018 to $14,116 million in December 2022, mirroring the trends in rental and non-rental equipment. The steady asset base expansion emphasizes ongoing capital expenditure and asset management efforts.
- Goodwill
- Goodwill remained relatively stable, fluctuating between $4,096 million and $6,026 million during the period. The moderate increase by the end of 2022 may reflect acquisitions or changes in intangible considerations.
- Other intangible assets, net
- Other intangible assets steadily declined from $825 million in March 2018 to $452 million in December 2022. The continuous decrease suggests amortization or impairment charges affecting this asset category over time.
- Operating lease right-of-use assets
- First appearing in mid-2019 at around $622 million, this asset category showed steady growth, reaching $819 million by December 2022. The growth indicates an increasing recognition of lease-related assets, consistent with accounting standard changes related to leasing.
- Other long-term assets
- Other long-term assets remained relatively minor but gradually increased from $13 million in March 2018 to $47 million in December 2022, showing modest growth in less significant asset categories.
- Long-term assets
- Long-term assets increased from $13,098 million in March 2018 to $21,460 million in December 2022, with some minor declines between 2019 and 2020. This overall trend demonstrates growth in capital investments and long-term resource allocations.
- Total assets
- Overall total assets rose consistently from $14,688 million in March 2018 to $24,183 million by December 2022. Despite some short-term fluctuations, the upward trajectory highlights sustained asset growth, underpinned primarily by increases in rental equipment, property and equipment, and long-term assets.