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Apollo Education Group Inc (NAS:APOL)
Other Current Assets
$424 Mil (As of Feb. 2014)

Apollo Education Group Inc's other current assets for the quarter that ended in Feb. 2014 was $424 Mil.

Apollo Education Group Inc's quarterly other current assets declined from Aug. 2013 ($414 Mil) to Nov. 2013 ($402 Mil) but then increased from Nov. 2013 ($402 Mil) to Feb. 2014 ($424 Mil).

Apollo Education Group Inc's annual other current assets declined from Aug. 2011 ($584 Mil) to Aug. 2012 ($463 Mil) and declined from Aug. 2012 ($463 Mil) to Aug. 2013 ($414 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.

Apollo Education Group Inc Annual Data

Aug04Aug05Aug06Aug07Aug08Aug09Aug10Aug11Aug12Aug13
Other Current Assets 109275287364461614704584463414

Apollo Education Group Inc Quarterly Data

Nov11Feb12May12Aug12Nov12Feb13May13Aug13Nov13Feb14
Other Current Assets 535685490463477436443414402424
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