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.

Air Products & Chemicals Inc., consolidated balance sheet: assets (quarterly data)

US$ in thousands

	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	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	Dec 31, 2014
Cash and cash items	4,291,600)	5,786,300)	5,788,000)	5,253,000)	3,921,400)	2,220,100)	2,406,100)	2,248,700)	2,696,800)	2,735,900)	2,923,300)	2,791,300)	2,986,500)	3,066,900)	2,722,600)	3,273,600)	2,332,600)	1,869,300)	655,500)	1,501,300)	514,800)	313,100)	279,100)	206,400)	215,300)	195,700)	238,800)
Short-term investments	1,524,900)	409,200)	412,000)	1,104,900)	2,515,700)	—)	—)	166,000)	—)	2,600)	12,300)	184,700)	7,300)	137,000)	407,100)	404,000)	1,016,100)	1,423,200)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Trade receivables, net	1,419,300)	1,388,900)	1,419,700)	1,274,800)	1,409,700)	1,399,400)	1,288,600)	1,260,200)	1,340,700)	1,258,500)	1,268,200)	1,207,200)	1,227,600)	1,252,300)	1,233,400)	1,174,000)	1,101,200)	1,176,300)	1,063,300)	1,439,900)	1,563,200)	1,373,300)	1,288,500)	1,406,200)	1,440,800)	1,381,400)	1,430,400)
Inventories	447,200)	430,300)	422,900)	404,800)	410,900)	399,700)	400,600)	388,300)	408,300)	408,300)	403,400)	396,100)	322,100)	339,900)	347,400)	335,400)	293,300)	322,800)	330,700)	619,900)	611,100)	649,800)	665,600)	657,800)	681,900)	693,300)	709,700)
Prepaid expenses	132,300)	206,800)	178,500)	164,500)	185,900)	129,600)	98,300)	77,400)	97,200)	102,400)	74,900)	129,600)	104,100)	131,200)	177,700)	191,400)	79,000)	61,900)	68,600)	99,600)	80,300)	85,100)	59,200)	67,300)	63,400)	114,900)	76,400)
Other receivables and current assets	561,500)	545,100)	588,700)	482,900)	562,900)	539,700)	526,100)	477,700)	372,200)	387,500)	407,800)	373,300)	407,900)	469,000)	457,100)	488,100)	515,000)	430,800)	570,500)	637,200)	590,600)	589,500)	486,600)	573,100)	700,900)	729,200)	681,900)
Current assets of discontinued operations	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	10,200)	10,200)	9,800)	9,800)	860,200)	19,400)	18,800)	20,400)	—)	—)	—)	—)	—)
Current assets	8,376,800)	8,766,600)	8,809,800)	8,684,900)	9,006,500)	4,688,500)	4,719,700)	4,618,300)	4,915,200)	4,895,200)	5,089,900)	5,082,200)	5,055,500)	5,396,300)	5,355,500)	5,876,700)	5,347,000)	5,294,100)	3,548,800)	4,317,300)	3,378,800)	3,031,200)	2,779,000)	2,910,800)	3,102,300)	3,114,500)	3,137,200)
Investment in net assets of and advances to equity affiliates	1,577,700)	1,538,200)	1,520,400)	1,432,200)	1,346,100)	1,314,600)	1,339,900)	1,276,200)	1,290,400)	1,279,300)	1,242,400)	1,277,200)	1,259,300)	1,305,600)	1,258,000)	1,286,900)	1,244,700)	1,296,300)	1,254,700)	1,288,100)	1,270,400)	1,264,300)	1,262,400)	1,265,700)	1,244,200)	1,223,900)	1,252,200)
Plant and equipment, at cost	27,181,200)	26,438,500)	26,308,100)	25,176,200)	24,198,000)	23,005,200)	23,099,800)	22,333,700)	22,425,600)	21,986,300)	21,586,500)	21,490,200)	21,387,500)	20,522,500)	20,040,000)	19,547,800)	19,176,300)	18,716,200)	18,273,800)	20,190,100)	19,967,100)	19,961,800)	20,443,200)	20,354,600)	20,472,400)	19,981,800)	20,256,500)
Accumulated depreciation	(14,145,600)	(13,810,200)	(13,791,000)	(13,211,500)	(12,729,100)	(12,381,500)	(12,407,600)	(11,996,100)	(11,998,000)	(11,792,500)	(11,626,700)	(11,566,500)	(11,485,500)	(11,704,800)	(11,408,100)	(11,107,600)	(10,859,300)	(10,518,000)	(10,243,500)	(11,337,400)	(11,168,500)	(11,107,700)	(10,824,200)	(10,717,700)	(10,751,600)	(10,495,900)	(10,648,900)
Plant and equipment, net	13,035,600)	12,628,300)	12,517,100)	11,964,700)	11,468,900)	10,623,700)	10,692,200)	10,337,600)	10,427,600)	10,193,800)	9,959,800)	9,923,700)	9,902,000)	8,817,700)	8,631,900)	8,440,200)	8,317,000)	8,198,200)	8,030,300)	8,852,700)	8,798,600)	8,854,100)	9,619,000)	9,636,900)	9,720,800)	9,485,900)	9,607,600)
Goodwill, net	931,500)	914,700)	923,900)	891,500)	799,300)	785,300)	816,100)	797,100)	820,400)	811,900)	780,400)	788,900)	794,100)	815,000)	790,800)	721,500)	705,100)	827,200)	811,100)	1,150,200)	1,135,200)	1,150,600)	1,115,400)	1,131,300)	1,163,800)	1,155,400)	1,200,700)
Intangible assets, net	444,000)	449,100)	452,500)	435,800)	380,900)	377,900)	415,900)	419,500)	441,100)	418,600)	416,900)	438,500)	449,000)	444,400)	429,100)	368,300)	363,800)	377,600)	376,700)	488,000)	491,200)	499,900)	491,000)	508,300)	541,500)	553,400)	585,200)
Noncurrent lease receivables	763,800)	789,200)	816,200)	816,300)	820,600)	840,800)	883,200)	890,000)	938,400)	974,700)	985,900)	1,013,300)	1,058,200)	1,128,500)	1,126,000)	1,131,800)	1,139,300)	1,147,900)	1,162,600)	1,221,700)	1,245,600)	1,291,500)	1,319,400)	1,350,200)	1,375,100)	1,373,900)	1,397,600)
Other noncurrent assets	1,122,700)	1,072,800)	1,048,200)	943,100)	959,800)	870,400)	784,600)	604,100)	698,800)	671,000)	666,700)	654,500)	687,900)	603,600)	617,500)	641,800)	736,900)	730,200)	772,000)	737,300)	763,700)	719,200)	674,100)	634,900)	523,800)	586,800)	454,900)
Noncurrent assets	17,875,300)	17,392,300)	17,278,300)	16,483,600)	15,775,600)	14,812,700)	14,931,900)	14,324,500)	14,616,700)	14,349,300)	14,052,100)	14,096,100)	14,150,500)	13,114,800)	12,853,300)	12,590,500)	12,506,800)	12,577,400)	12,407,400)	13,738,000)	13,704,700)	13,779,600)	14,481,300)	14,527,300)	14,569,200)	14,379,300)	14,498,200)
Total assets	26,252,100)	26,158,900)	26,088,100)	25,168,500)	24,782,100)	19,501,200)	19,651,600)	18,942,800)	19,531,900)	19,244,500)	19,142,000)	19,178,300)	19,206,000)	18,511,100)	18,208,800)	18,467,200)	17,853,800)	17,871,500)	15,956,200)	18,055,300)	17,083,500)	16,810,800)	17,260,300)	17,438,100)	17,671,500)	17,493,800)	17,635,400)

The total asset base exhibits a period of relative stability followed by a significant expansion beginning in early 2020. From December 2014 through December 2019, total assets fluctuated between approximately 15.9 billion and 19.6 billion US dollars. However, a substantial step-change occurred in March 2020, where assets increased to 24.7 billion US dollars, continuing an upward trajectory to reach 26.2 billion US dollars by June 2021.

Liquidity and Cash Management: A dramatic increase in liquidity is observed over the analyzed period. Cash and cash items grew from 238.8 million US dollars in December 2014 to a peak of 5.78 billion US dollars in December 2020, before moderating to 4.29 billion US dollars by June 2021. Short-term investments showed sporadic activity, peaking at 2.5 billion US dollars in June 2020. This suggests a strategic shift toward higher liquidity levels, particularly during the 2020 calendar year.
Fixed Asset Investment: Net plant and equipment demonstrate a long-term growth trend after an initial decline. Following a low of 8.0 billion US dollars in December 2016, net plant and equipment steadily increased to 13.0 billion US dollars by June 2021. This growth is mirrored by the gross cost of plant and equipment, which rose from 20.2 billion US dollars in 2014 to 27.1 billion US dollars in 2021, indicating sustained capital expenditure and investment in productive capacity.
Noncurrent Asset Shifts: A consistent downward trend is evident in noncurrent lease receivables, which declined from 1.39 billion US dollars in December 2014 to 763.8 million US dollars by June 2021. Conversely, other noncurrent assets grew from 454.9 million US dollars to 1.12 billion US dollars over the same period. Goodwill remained relatively stable after an initial reduction, fluctuating between 700 million and 930 million US dollars from 2017 onwards.
Working Capital Components: Trade receivables remained remarkably stable, generally oscillating between 1.1 billion and 1.5 billion US dollars. Inventories experienced a notable contraction between 2015 and 2016, dropping from roughly 700 million US dollars to approximately 330 million US dollars, followed by a gradual recovery to 447.2 million US dollars by June 2021. Prepaid expenses and other current assets showed moderate growth, particularly during the 2020 expansion.

The overall transition in the balance sheet structure reveals a shift from lease-based noncurrent assets toward increased ownership of plant and equipment and a significantly strengthened cash position. The sharp increase in total assets in 2020 is primarily driven by the surge in cash and cash equivalents and the continued expansion of the fixed asset base.

Air Products & Chemicals Inc. (NYSE:APD)

Balance Sheet: Assets
Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Air Products & Chemicals Inc. (NYSE:APD)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data