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.
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
- Cash and Cash Equivalents
- Cash and cash equivalents fluctuated over the analyzed periods, beginning at approximately $15 billion and exhibiting considerable volatility. A peak occurred mid-2020 with nearly $20 billion, followed by a decline reaching lows near $6 billion. The periods following show intermittent recoveries, but overall, the trend signifies variable liquidity levels with a tendency towards reduction in the later stages.
- Short-term and Other Investments
- Short-term and other investments displayed significant fluctuations, peaking around mid-2020 with over $17 billion and declining steadily thereafter to a low near $509 million in early 2024. Subsequently, there was a notable resurgence, achieving upward trends toward $16-17 billion again by late 2025. This variability may indicate shifts in investment strategy or liquidity management.
- Accounts Receivable, Net
- Accounts receivable showed relative stability with minor oscillations between approximately $2.5 billion and $3.3 billion. The values remained within a consistent range without drastic changes, signifying steady credit sales or collections.
- Unbilled Receivables, Net
- Unbilled receivables remained fairly stable around $8.3 billion to $10 billion, with minor cyclical movements. Periodic increases suggest ongoing contract activity and revenue recognition trends that fluctuate slightly but maintain a consistent overall volume.
- Current Portion of Financing Receivables, Net
- This item generally decreased from around $149 million to very low levels by 2025, with occasional spikes such as $457 million near late 2023. The downward pattern indicates a reduction in short-term financing assets or faster collections over time, aside from isolated irregular increases.
- Inventories
- Inventories displayed moderate growth with seasonal and cyclical movements, starting near $80 billion and peaking slightly above $89 billion before tailing down. The general trend suggests steady management of inventory levels relative to operational needs.
- Other Current Assets, Net
- Other current assets fluctuated without a clear upward or downward trend, remaining mostly between $2 billion and $3 billion. Occasional spikes and dips reflect normal working capital variations or reclassification of assets.
- Assets Held for Sale
- Assets held for sale appeared only in the final two periods with values around $1.4 billion, indicating new dispositions or restructuring activities emerging late in the observed timeline.
- Current Assets
- Current assets peaked above $130 billion mid-2020, then followed a declining trend toward approximately $122 billion by the end, with notable variability between quarters. This pattern suggests changes in liquidity or operational cycles impacting short-term asset composition.
- Financing Receivables and Operating Lease Equipment, Net
- These long-term assets gradually decreased from approximately $2.1 billion to below $250 million by late 2025, suggesting asset disposals, reduced financing activities, or lease terminations over time.
- Property, Plant and Equipment, Net of Accumulated Depreciation
- Property, plant, and equipment demonstrated a slow but steady decline from about $12.4 billion to around $12.1 billion, with a slight increase toward the end. This stability implies consistent capital asset management and limited large-scale additions or disposals.
- Goodwill
- Goodwill remained broadly stable near $8 billion with minor fluctuations until a decline to approximately $7.3 billion near the end, indicating possible impairments or asset revaluations late in the period.
- Acquired Intangible Assets, Net
- Acquired intangible assets consistently decreased from about $3.3 billion to below $1.5 billion, indicating amortization or disposal of intangible assets over time.
- Deferred Income Taxes
- Deferred income taxes fluctuated considerably with no clear directional trend due to missing data points, ranging from low tens to over $180 million in certain periods. The irregularities may correspond to changes in tax positions or deferred tax asset/utilization strategies.
- Investments
- Investments remained relatively steady around $1 billion, fluctuating slightly but showing no significant trends, suggesting stable investment holdings in the long term.
- Other Assets, Net of Accumulated Amortization
- Other assets experienced fluctuations between approximately $3.5 billion and $6 billion with no definitive trend, reflecting varying asset compositions or reclassifications across periods.
- Long-term Assets
- Long-term assets remained mostly stable around $28 billion, with minimal declines observed. The consistency points to steady management of non-current resource bases.
- Total Assets
- Total assets peaked near $162 billion in mid-2020, followed by a downward trajectory to around $137 billion in early 2024. An increase beyond $156 billion occurred by mid-2025 but declined slightly at the end. Overall, total asset levels showed volatility with an initial peak, subsequent decline, partial recovery, and stabilization.