Name: O’Reilly Automotive Inc. (NASDAQ:ORLY) | 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.

O’Reilly Automotive Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	362,113)	465,640)	40,406)	31,315)	46,348)
Accounts receivable, less allowance for doubtful accounts	272,562)	229,679)	214,915)	192,026)	216,251)
Amounts receivable from suppliers	113,112)	100,615)	79,492)	78,155)	76,236)
Inventory	3,686,383)	3,653,195)	3,454,092)	3,193,344)	3,009,800)
Other current assets	70,092)	50,658)	44,757)	48,262)	49,037)
Current assets	4,504,262)	4,499,787)	3,833,662)	3,543,102)	3,397,672)
Net property and equipment	4,213,515)	4,094,918)	3,948,203)	3,587,002)	3,343,806)
Operating lease, right-of-use assets	1,982,478)	1,995,127)	1,928,369)	—)	—)
Goodwill	879,340)	881,030)	936,814)	807,260)	789,058)
Other assets, net	139,112)	125,780)	70,112)	43,425)	41,349)
Noncurrent assets	7,214,445)	7,096,855)	6,883,498)	4,437,687)	4,174,213)
Total assets	11,718,707)	11,596,642)	10,717,160)	7,980,789)	7,571,885)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Total assets experienced a substantial upward trajectory from December 31, 2017, to December 31, 2021, increasing from approximately 7.57 billion to 11.72 billion. This expansion is primarily attributed to the steady growth of inventory and net property and equipment, alongside a significant accounting adjustment in 2019 and a liquidity surge in 2020.

Current Asset Composition and Trends: Inventory represents the most significant component of current assets, showing a consistent increase from 3.01 billion in 2017 to 3.69 billion in 2021. Accounts receivable and amounts receivable from suppliers also followed a general upward trend, reflecting scaled operations. A notable volatility in liquidity occurred in 2020, where cash and cash equivalents rose sharply from 40.4 million to 465.6 million, before moderating to 362.1 million in 2021.
Noncurrent Asset Evolution: Net property and equipment demonstrated steady growth, rising from 3.34 billion to 4.21 billion over the five-year period, indicating ongoing investment in physical infrastructure. A structural shift occurred in 2019 with the introduction of operating lease right-of-use assets valued at 1.93 billion, which remained stable through 2021. Goodwill remained relatively flat, peaking in 2019 at 936.8 million before slightly declining.
Asset Base Expansion and Structural Changes: The total asset base expanded by approximately 54% over the analyzed period. The most significant leap occurred between 2018 and 2019, where total assets rose from 7.98 billion to 10.72 billion, primarily due to the recognition of right-of-use assets. Subsequent growth was driven by a combination of increased cash reserves and the continued accumulation of inventory and fixed assets.

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