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: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
The financial data reveals a series of fluctuations and overall trends in the company's liquidity, asset composition, and total asset base over the examined periods.
- Cash and Cash Equivalents
- Cash and cash equivalents exhibited significant variability across the quarters, with notable peaks in June 2020 reaching 485,000 thousand USD and a subsequent highest recorded value of 572,800 thousand USD in September 2023. The values demonstrate a recurring pattern of increases followed by declines, reflecting dynamic management of liquid assets or possible operational cash flow variations.
- Short-term Investments
- Short-term investments remained relatively stable, ranging predominantly between 9,000 and 17,900 thousand USD. There is no clear directional trend, although there are occasional increments indicating periodic adjustments to the short-term investment portfolio.
- Accounts Receivable, Net
- Accounts receivable showed modest growth over time, increasing from 704,000 thousand USD in March 2018 to 852,900 thousand USD by September 2023. There were some fluctuations, with a noticeable decline around mid-2020, possibly attributable to market conditions or sales performance variation. Overall, the trend suggests an increasing extension of credit or sales on account.
- Inventories, Net
- Inventory levels initially declined from 714,300 thousand USD in March 2018 to a low near 584,900 thousand USD in September 2020, indicative of inventory optimization or demand-driven drawdowns. From late 2020 onward, inventories increased steadily reaching around 788,400 thousand USD in September 2023, reflecting buildup likely linked to increased production or anticipated demand.
- Other Current Assets
- Other current assets exhibited fluctuations without a clear continuous trend. Values ranged mostly between approximately 49,500 and 96,100 thousand USD, with spikes observed in mid-2022 and beyond, which may relate to timing differences in receivables, prepaid expenses, or other short-term assets.
- Assets Held for Sale (Current and Non-current)
- There is a record of assets held for sale in 2022 with a one-time current value of 179,500 thousand USD and non-current value of 177,100 thousand USD. These sales-related assets indicate divestiture activities during that period, which may have impacted total asset composition.
- Current Assets
- Current assets displayed a general upward trend post-2019, moving from a low of 1,574,200 thousand USD in December 2019 to 2,318,400 thousand USD by September 2023. This increase reflects growth in liquid and near-liquid assets, supporting improved short-term financial flexibility.
- Property, Plant, and Equipment, Net
- Property, plant, and equipment showed mixed movements, with a slight decline from about 494,900 thousand USD in early 2018 to a low near 459,500 thousand USD in March 2021, followed by a significant uptrend to 572,200 thousand USD by September 2023. This pattern may indicate depreciations and asset retirements prior to renewed capital investments or asset acquisitions.
- Investments
- Long-term investments remained relatively stable with minor fluctuations, generally centered in the range of 50,000 to 72,100 thousand USD. No distinct growth or decline trend is apparent.
- Goodwill
- Goodwill remained fairly stable through much of the period averaging roughly 1,800,000 thousand USD, with a gradual increase towards the end reaching around 1,994,700 thousand USD in September 2023. This suggests maintained or expanded intangible assets from acquisitions or business combinations.
- Other Intangible Assets, Net
- Other intangible assets declined from 889,500 thousand USD in early 2018 to a low near 644,700 thousand USD by September 2023, suggesting amortization over time or impairment charges affecting intangible asset values.
- Other Long-Term Assets
- Other long-term assets showed some volatility, with values ranging from approximately 143,700 to 176,700 thousand USD. No clear directional trend is evident, reflecting possible reclassifications or market valuation changes.
- Other Assets and Long-Term Assets
- Other assets and total long-term assets generally remained consistent with slight declines post-2018, followed by modest recovery. Long-term assets decreased from roughly 3,255,600 thousand USD in early 2019 to about 3,249,900 thousand USD in late 2023, indicating a relatively stable asset base despite fluctuations.
- Total Assets
- Total assets fluctuated over the period, with dips around 2018 and 2019 down to approximately 4,872,100 thousand USD, followed by an upward trajectory reaching about 5,768,300 thousand USD by September 2023. This reflects the combined effect of changes in current and long-term assets and suggests overall asset growth and potential expansion.
In summary, the data portrays a company experiencing dynamic liquid asset management, steady growth in receivables and inventories starting in 2021, and investment in fixed assets in recent years. Intangible assets such as goodwill remain stable or slightly increasing, whereas other intangibles show amortization effects. The total asset base exhibits growth, implying expansion or accumulation of resources over the evaluated timeframe.