Common-Size Balance Sheet: Assets
Quarterly Data
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Newmont Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 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).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets showed notable volatility over the period analyzed. Beginning at 16.98% in March 2019, the percentage dropped sharply to 4.94% by June 2019. It then rebounded and fluctuated, reaching levels around 10-13% through 2019 and 2020, before gradually declining to a low of 4.22% by March 2024. This trend indicates a reduction in liquidity as a share of total assets over time, with intermittent periods of increased cash holdings.
- Trade receivables
- The share of trade receivables relative to total assets remained generally low throughout the periods, mostly below 1%. It dipped to a low of 0.2% in September 2023 but rebounded to its highest point of 1.41% by March 2024. These fluctuations suggest varying credit sales or collection efficiency, with a recent increase implying higher receivables on the balance sheet.
- Investments (current assets)
- Investments as a percentage of total assets demonstrated an irregular pattern, generally staying below 1%, except for a sharp increase observed in the third and fourth quarters of 2022, reaching around 2.3%. Subsequently, this ratio decreased markedly, falling to just 0.04% by March 2024. This pattern may reflect strategic shifts in short-term investment holdings or changes in the composition of liquid assets.
- Inventories
- Inventories maintained a relatively stable share of total assets, mostly fluctuating between approximately 2.3% and 3%. Starting at 3.04% in March 2019, the figure dropped slightly below 2.5% in early 2020, then gradually increased again to around 3% in late 2023, before settling at 2.5% in March 2024. This suggests steady inventory levels relative to the asset base with minor fluctuations linked possibly to operational cycles or commodity price changes.
- Stockpiles and ore on leach pads (current assets)
- This item showed a declining trend over time, starting at 3.54% in March 2019 and decreasing to 1.35% by March 2024. The decline demonstrates a gradual reduction in these mineral-related assets as a proportion of total assets, potentially reflecting changes in mining operations or inventory management strategies.
- Derivative assets (current and non-current)
- Derivative assets appeared from December 2023 onwards, accounting for 0.36% and 0.21% of total assets in the current asset category, and 0.8% and 0.74% in the non-current category for December 2023 and March 2024 respectively. The introduction of these assets indicates increased engagement in hedging or financial instruments during the most recent periods.
- Other current assets
- This category remained relatively stable, ranging mostly between 1% and 2% of total assets, with a mild upward trend toward the end of the period, peaking at 1.95% in September 2023 before decreasing to 1.38% in March 2024. The steady level suggests consistent operational assets outside cash, receivables, and inventories.
- Current assets held for sale
- Current assets held for sale were only reported in two quarters: 2.56% in December 2019 and a significant increase to 10.22% in March 2024. This spike signals potential divestitures or disposal groups classified as held for sale at the end of the analyzed timeline.
- Current assets (aggregate)
- As a whole, current assets as a percentage of total assets showed an overall increase from 12.54% to over 20% in 2020, stabilizing thereafter around 15-18%, before a decline to 13.53% in December 2023, followed by a jump to 21.34% in March 2024. This variability points to changes in liquidity, inventory, and receivables management over time, with a noteworthy increase corresponding to the rise in current assets held for sale at the end.
- Property, plant and mine development, net
- The dominant asset category consistently represented around 60% of total assets throughout the period. It fluctuated slightly, starting at 58.74% in March 2019, dipping to 58.69% at the end of 2020, and peaking at 67.67% in December 2023 before decreasing to 60.66% by March 2024. This reflects ongoing investment in fixed assets with occasional adjustments impacting the relative asset base.
- Investments (non-current)
- Non-current investments comprised a notable portion of total assets, ranging from 7.28% to 10.03%, with a high in June 2019 and a gradual decline towards the end of the period, stabilizing near 7.5% by March 2024. The stable allocation suggests a consistent long-term investment strategy.
- Stockpiles and ore on leach pads (non-current)
- Non-current stockpiles and ore on leach pads showed a gradual decline from 8.79% in March 2019 to 3.32% in March 2024, with intermittent minor rebounds. This longer-term decrease mirrors the trend observed in current mineral inventories, indicating a reduction in mineral assets relative to the total asset base over time.
- Deferred income tax assets
- This asset category steadily decreased from 1.81% in March 2019 to about 0.38% in March 2024. The decline might suggest reduced deferred tax benefits or changes in tax planning and asset valuation.
- Goodwill
- Goodwill as a proportion of total assets was absent in March 2019 but rose to around 7% by late 2021 and early 2022, before declining to approximately 5% towards the end of the period. This indicates acquisition activity with subsequent adjustments or impairments affecting goodwill values.
- Other non-current assets
- These assets decreased from 3.21% in March 2019 to around 1% by March 2024, showing a slow but consistent decline in other long-term asset categories.
- Non-current assets (aggregate)
- Non-current assets comprised the majority of total assets, ranging between approximately 79% and 87%, with a dip in the early 2020s and a peak in December 2023 before falling back to 78.66% in March 2024. This reflects the company’s asset structure being heavily weighted toward long-lived assets, with some fluctuation possibly related to asset disposals or reclassifications.