Name: HP Inc. (NYSE:HPQ) | 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.

Assets: Selected Items

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Current Assets: Selected Items

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HP Inc., consolidated balance sheet: assets

US$ in millions

	Oct 31, 2018	Oct 31, 2017	Oct 31, 2016	Oct 31, 2015	Oct 31, 2014	Oct 31, 2013
Cash and cash equivalents	5,166)	6,997)	6,288)	17,433)	15,133)	12,163)
Accounts receivable, net	5,113)	4,414)	4,114)	13,363)	13,832)	15,876)
Financing receivables	—)	—)	—)	2,918)	2,946)	3,144)
Inventory	6,062)	5,786)	4,484)	6,485)	6,415)	6,046)
Value-added taxes receivable	865)	857)	795)	2,481)	2,169)	2,425)
Available-for-sale investments	711)	1,149)	—)	—)	—)	—)
Supplier and other receivables	2,025)	1,891)	1,700)	2,749)	2,378)	2,579)
Prepaid and other current assets	1,445)	1,224)	1,087)	4,116)	4,518)	4,238)
Deferred tax assets	—)	—)	—)	2,242)	2,754)	3,893)
Other current assets	5,046)	5,121)	3,582)	11,588)	11,819)	13,135)
Current assets	21,387)	22,318)	18,468)	51,787)	50,145)	50,364)
Property, plant and equipment	2,198)	1,878)	1,736)	11,090)	11,340)	11,463)
Goodwill	5,968)	5,622)	5,622)	32,941)	31,139)	31,124)
Intangible assets	—)	—)	—)	2,014)	2,128)	3,169)
Financing receivables, net	—)	—)	—)	3,676)	3,613)	3,878)
Tax indemnifications receivable	953)	1,695)	1,591)	—)	—)	—)
Deferred tax assets	2,431)	342)	254)	871)	740)	1,346)
Deferred costs	—)	—)	—)	742)	755)	999)
Other	1,685)	1,058)	1,339)	3,761)	3,346)	3,333)
Other non-current assets	5,069)	3,095)	3,184)	5,374)	4,841)	5,678)
Noncurrent assets	13,235)	10,595)	10,542)	55,095)	53,061)	55,312)
Total assets	34,622)	32,913)	29,010)	106,882)	103,206)	105,676)

Based on: 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31), 10-K (reporting date: 2014-10-31), 10-K (reporting date: 2013-10-31).

The asset structure exhibits a profound contraction between the fiscal years ending October 31, 2015, and October 31, 2016. Total assets decreased from $106.88 billion to $29.01 billion during this period, representing a significant reduction in the overall balance sheet size. Following this decline, a gradual recovery is observed, with total assets rising to $34.62 billion by October 31, 2018.

Current Asset Trends: Current assets fell from a peak of $51.79 billion in 2015 to $18.47 billion in 2016. This decline was driven largely by a reduction in cash and cash equivalents, which peaked at $17.43 billion in 2015 before declining to $5.17 billion by 2018. Accounts receivable, net, similarly decreased from $13.36 billion in 2015 to $4.11 billion in 2016, though they showed a steady increase to $5.11 billion by 2018. Inventory levels remained relatively consistent between 2013 and 2015 at approximately $6.4 billion, experienced a dip to $4.48 billion in 2016, and returned to $6.06 billion by 2018.
Non-Current Asset Shifts: A substantial devaluation or redistribution of non-current assets occurred in 2016, dropping from $55.10 billion to $10.54 billion. The most significant impact is noted in goodwill, which plummeted from $32.94 billion in 2015 to $5.62 billion in 2016. Property, plant, and equipment also saw a sharp decline from $11.09 billion in 2015 to $1.74 billion in 2016, before recovering slightly to $2.20 billion by 2018. Deferred tax assets in the non-current category showed volatility, peaking at $2.43 billion in 2018 after reaching a low of $254 million in 2016.
Other Asset Observations: Value-added taxes receivable and prepaid assets followed the general trend of the 2016 contraction, with value-added taxes receivable dropping from $2.48 billion in 2015 to $795 million in 2016. Other current assets exhibited a similar pattern, falling from $11.59 billion in 2015 to $3.58 billion in 2016, subsequently recovering to $5.05 billion by 2018. Available-for-sale investments only appear as a line item starting in 2017, valued at $1.15 billion and decreasing to $711 million in 2018.

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