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.
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McKesson Corp. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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McKesson Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-K (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-K (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-K (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-K (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-K (reporting date: 2012-03-31), 10-Q (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-K (reporting date: 2011-03-31), 10-Q (reporting date: 2010-12-31), 10-Q (reporting date: 2010-09-30), 10-Q (reporting date: 2010-06-30).
- Cash and Cash Equivalents
- Cash and cash equivalents fluctuated over the periods, starting at 3,265 million USD in June 2010 and demonstrating notable volatility. A general upward trend is observable from early 2014, peaking at 5,635 million USD in June 2015, followed by a decline toward mid-2016. This pattern indicates periods of increased liquidity interspersed with reductions, potentially due to operational cash flow variability or investment activities.
- Receivables, Net
- Net receivables showed a consistent upward trajectory from 7,832 million USD in June 2010 to a high of 18,334 million USD by September 2016. The growth was steady, with occasional sharper increases around early 2014, suggesting expanding sales on credit or extended payment terms. This rising trend may imply growing business operations or less stringent collections.
- Inventories, Net
- Inventory levels exhibited moderate fluctuations but generally increased from 9,429 million USD in June 2010 to about 15,273 million USD in September 2016. Inventory peaked notably in the 2014-2015 periods, indicating either stockpiling or growth in product lines. The overall increase suggests an expansion in operational scale or slower inventory turnover.
- Prepaid Expenses and Other
- Prepaid expenses and other assets remained relatively low and stable through 2010-2012, rising significantly around 2013 with a peak near 1,320 million USD by mid-2015 before declining again toward 2016. The increase may relate to upfront payments or financial arrangements, while the subsequent decrease could reflect amortization or reduced prepayments.
- Current Assets Held for Sale
- This category showed no balance until the final period in September 2016, where it appeared at 1,767 million USD, indicating a new asset classification likely related to planned divestitures or restructuring.
- Current Assets, Total
- Total current assets remained broadly stable initially, fluctuating in the 20,000-25,000 million USD range from 2010 through early 2014. A pronounced increase occurred in mid-2014, peaking near 38,338 million USD by September 2016. The growth corresponds with increases in receivables and inventories, signifying expanded working capital.
- Property, Plant and Equipment, Net
- Property, plant, and equipment showed gradual growth from 864 million USD in mid-2010 to a peak of 2,430 million USD in June 2016. This growth reflects ongoing capital investment, suggesting expansion or modernization of fixed assets over the period.
- Capitalized Software Held for Sale, Net
- This asset was only reported through early 2011, ranging between 152 and 228 million USD, then discontinued from reporting, possibly due to sale or reclassification.
- Goodwill
- Goodwill increased substantially from 3,522 million USD in June 2010 to a peak above 11,127 million USD in mid-2015 before declining somewhat to 9,693 million USD by September 2016. This pattern indicates significant acquisitions during the period, followed by potential impairments or divestitures.
- Intangible Assets, Net
- Intangible assets experienced notable growth, rising from about 520 million USD in mid-2010 to over 5,000 million USD in mid-2014, then declining steadily thereafter to approximately 3,061 million USD by September 2016. The initial increase suggests acquisition or capitalization of intangible assets, while the decline may indicate amortization or impairment.
- Other Noncurrent Assets
- Other noncurrent assets showed minor fluctuations, increasing modestly from 1,472 million USD in mid-2010 to over 3,000 million USD by mid-2016 before decreasing again. The moderate volatility indicates changes in long-term asset composition or valuation.
- Noncurrent Assets, Total
- Noncurrent assets rose significantly from 6,608 million USD in June 2010 to a high of about 19,186 million USD in early 2014, then gradually decreased to near 16,977 million USD by September 2016. This pattern aligns with changes in goodwill, intangibles, and fixed assets, suggesting acquisition activity followed by asset sales or write-downs.
- Total Assets
- Total assets showed a strong increasing trend, rising from approximately 27,399 million USD in mid-2010 to over 58,315 million USD by the end of the data period in September 2016. This growth reflects expansion in both current and noncurrent asset bases, implying significant corporate growth, acquisition activity, and investment during these years.