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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Intuit Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-Q (reporting date: 2024-10-31), 10-K (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-Q (reporting date: 2023-10-31), 10-K (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-Q (reporting date: 2022-10-31), 10-K (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-Q (reporting date: 2021-10-31), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-Q (reporting date: 2020-10-31), 10-K (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-Q (reporting date: 2019-10-31).
- Cash and cash equivalents
- This item experienced significant fluctuations, beginning at $1,630 million in October 2019 and peaking at $6,442 million in July 2020. Subsequently, it declined to a low in the early months of 2022 before rebounding again, showing a volatile but generally upward trend through mid-2025.
- Investments
- The investments showed moderate growth from $625 million in late 2019 up to over $1,300 million by mid-2021, then decreased sharply in early 2022. Thereafter, values fluctuated with a notable increase toward the end of the period, reaching approximately $1,668 million by mid-2025.
- Accounts receivable, net
- Accounts receivable demonstrated a highly variable pattern, with some notable peaks, such as $889 million in January 2022 and again in January 2023 at $903 million. Despite fluctuations, there is no clear directional trend over time.
- Notes receivable held for investment, net
- This item appeared starting in mid-2022 and showed an overall increasing trend, rising from $509 million to $1,403 million by mid-2025, reflecting steady growth in this asset class.
- Notes receivable held for sale
- Values were minimal and sporadic, with small amounts recorded starting only around early 2023. There was a peak of $47 million in mid-2024 but the amounts remained relatively insignificant compared to other assets.
- Income taxes receivable
- Income taxes receivable fluctuated irregularly throughout the periods, with peaks around early 2022 ($241 million) and again in late 2023 ($126 million). Overall, the amounts vary widely without a clear upward or downward trend.
- Prepaid expenses and other current assets
- These assets displayed an increasing trend up to early 2022, reaching as high as $845 million in early 2025, with some intermittent declines. This indicates growing prepaid and other current assets over the period.
- Current assets before funds receivable and amounts held for customers
- There was strong growth from $2.7 billion at the end of 2019 up to a peak near $8.7 billion in mid-2025, although several fluctuations are apparent, especially a dip around early 2022.
- Funds receivable and amounts held for customers
- After relatively stable amounts during the earlier period, there was a notable increase from 2023 onwards, surging from a few hundred million to over $7 billion by mid-2025, indicating substantial growth in these liabilities or held funds.
- Current assets
- Reflecting the sum of components, current assets grew impressively from $3.16 billion in late 2019 to a high exceeding $14 billion by mid-2025, demonstrating overall asset growth with marked acceleration in the later years.
- Long-term investments
- Long-term investments maintained a generally stable, modest upward trend, increasing from $13 million in late 2019 to around $94 million by mid-2025.
- Property and equipment, net
- This asset category displayed steady growth from $773 million to approximately $961 million over the course of the observed period, indicating ongoing investment or asset appreciation.
- Operating lease right-of-use assets
- These assets showed variability but trended upwards overall, rising from $307 million in late 2019 to around $541 million by mid-2025, suggesting increasing lease obligations or right-of-use asset recognition.
- Goodwill
- Goodwill saw a remarkable increase from $1.7 billion at the end of 2019 to nearly $14 billion by early 2022, stabilizing thereafter with minor fluctuations. This reflects major acquisitions or goodwill adjustments during the period.
- Acquired intangible assets, net
- These assets mirrored the goodwill trend, surging from $49 million to over $7 billion at the start of 2022, followed by a gradual but consistent decrease to around $5.3 billion by mid-2025, indicating amortization or impairment over time.
- Long-term deferred income tax assets
- Starting from no values in early periods, these assets increased steadily to $1.2 billion by mid-2025, suggesting recognition of deferred tax assets perhaps linked to acquisitions or timing differences.
- Other assets
- Other long-term assets showed a gradual uptrend, increasing from $224 million to $751 million, indicating growth or accumulation of other asset categories.
- Long-term assets
- Long-term assets rose substantially, from $3 billion in late 2019 to nearly $23 billion by mid-2025. This reflects large increases in goodwill, intangibles, deferred tax assets, and other long-term assets in the portfolio.
- Total assets
- Total assets grew significantly from $6.2 billion at the end of 2019 to nearly $37 billion by mid-2025. The most notable increases occurred after 2020, driven largely by increases in goodwill, acquired intangibles, and current assets, indicating considerable expansion or acquisition activity.