Switch to:
J.C. Penney Co Inc (NYSE:JCP)
Other Current Assets
$379 Mil (As of Jan. 2014)

J.C. Penney Co Inc's other current assets for the quarter that ended in Jan. 2014 was $379 Mil.

J.C. Penney Co Inc's quarterly other current assets increased from Jul. 2013 ($324 Mil) to Oct. 2013 ($368 Mil) and increased from Oct. 2013 ($368 Mil) to Jan. 2014 ($379 Mil).

J.C. Penney Co Inc's annual other current assets declined from Jan. 2012 ($490 Mil) to Jan. 2013 ($355 Mil) but then increased from Jan. 2013 ($355 Mil) to Jan. 2014 ($379 Mil).


Definition

Technically, the other current assets line may include any asset that will be used up within the next 12 months. However, “other current assets” never include assets that are listed elsewhere in the current assets section of the balance sheet. For this reason, other current assets are almost never:


• Cash
• Trade Receivables
• Inventory

The assets grouped under “other current assets” are most commonly:


• Prepaid Expenses
• Tax Assets
• Non-Trade Receivables
• Other (too numerous to list)

Some companies can and do choose to report each of these items separately.

Other current assets may be made up largely of “Prepaid Expenses” - unless these are listed on a separate line of the balance sheet.

Prepaid expenses are exactly what they sound like. If a company pays a $30 million insurance premium on the last day of June that will provide coverage for the entire month of July, the company will record a $30 million prepaid expense to account for the insurance expense it will show in July that it already paid for in June.

Tax assets can be quite complex. It is not common for companies to have both tax assets and tax liabilities. It is important that investors take note of both items when considering future taxes.

Non-Trade receivables are rarely a large item. They include money owed to the company by non-customers. Non-trade receivables can be caused by related party transactions, the sale of a business unit, etc. The notes to the company’s financial statements will often provide much more detail on this item if it is truly important.

There are a variety of other current assets like non-trade receivables which are simply too numerous to list. If a company is following correct reporting procedures, it should not lump items that are different from one another and yet individually important to the company together under the line “Other Current Assets”.

At most companies, “other current assets” are a small and unimportant part of the total balance sheet.


Related Terms

Total Current Assets


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

J.C. Penney Co Inc Annual Data

Jan05Jan06Jan07Jan08Jan09Jan10Jan11Jan12Jan13Jan14
Other Current Assets 167206238209257222201490355379

J.C. Penney Co Inc Quarterly Data

Oct11Jan12Apr12Jul12Oct12Jan13Apr13Jul13Oct13Jan14
Other Current Assets 285490373646674355312324368379
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Hide