Name: Humana Inc. (NYSE:HUM) | 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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Humana Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	4,694)	5,061)	3,394)	4,673)	4,054)
Investment securities	16,626)	13,881)	13,192)	12,554)	10,972)
Receivables, net of allowances	2,035)	1,674)	1,814)	1,138)	1,056)
Other current assets	6,631)	5,567)	6,493)	5,276)	3,806)
Current assets	29,986)	26,183)	24,893)	23,641)	19,888)
Property and equipment, net	3,030)	3,221)	3,073)	2,371)	1,955)
Long-term investment securities	382)	380)	780)	1,212)	406)
Goodwill	9,550)	9,142)	11,092)	4,447)	3,928)
Equity method investments	740)	749)	141)	1,170)	1,063)
Other long-term assets	3,377)	3,380)	4,379)	2,128)	1,834)
Long-term assets	17,079)	16,872)	19,465)	11,328)	9,186)
Total assets	47,065)	43,055)	44,358)	34,969)	29,074)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Total assets grew consistently from US$ 29,074 million in 2019 to US$ 47,065 million in 2023, representing a total increase of approximately 62% over the five-year period. The most pronounced expansion occurred between 2020 and 2021, where total assets rose by nearly 27%, driven by significant increases in both current and long-term asset categories.

Current Asset Composition and Liquidity: Current assets increased from US$ 19,888 million in 2019 to US$ 29,986 million in 2023. This growth was primarily propelled by investment securities, which rose steadily from US$ 10,972 million to US$ 16,626 million. Cash and cash equivalents remained relatively stable, fluctuating between US$ 3,394 million and US$ 5,061 million, suggesting a disciplined approach to liquidity management. Receivables also showed a general upward trend, nearly doubling from 2019 levels to reach US$ 2,035 million by the end of 2023.
Long-term Asset Evolution and Strategic Shifts: Long-term assets expanded from US$ 9,186 million in 2019 to US$ 17,079 million in 2023. A critical inflection point is observed in 2021, where goodwill spiked from US$ 4,447 million to US$ 11,092 million, indicating a significant acquisition or series of acquisitions during that period. While goodwill experienced a slight correction in 2022, it remained a dominant component of the long-term asset base through 2023. Property and equipment, net, saw moderate growth, peaking at US$ 3,221 million in 2022 before a slight decrease in 2023.
Asset Mix and Structural Observations: The balance sheet is heavily weighted toward current assets, which constituted approximately 68% of total assets in 2019 and remained at a similar proportion of approximately 64% by 2023. The volatility in equity method investments, which dropped sharply in 2021 before partially recovering, suggests a reallocation of strategic partnerships or divestments. Other current assets also demonstrated a positive growth trend, increasing from US$ 3,806 million in 2019 to US$ 6,631 million in 2023, contributing to the overall expansion of the asset base.

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