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Magellan Midstream Partners, L.P. (NYSE:MMP)
Total Assets
$5,124 Mil (As of Jun. 2014)

Magellan Midstream Partners, L.P.'s total assets for the quarter that ended in Jun. 2014 was $5,124 Mil.

During the past 12 months, Magellan Midstream Partners, L.P.'s average Total Assets Growth Rate was 20.00% per year. During the past 3 years, the average Total Assets Growth Rate was 8.90% per year. During the past 5 years, the average Total Assets Growth Rate was 9.80% per year. During the past 10 years, the average Total Assets Growth Rate was 13.10% per year.

During the past 13 years, Magellan Midstream Partners, L.P.'s highest 3-Year average Total Assets Growth Rate was 21.60%. The lowest was 1.00%. And the median was 14.40%.

Total Assets is connected with Return on Assets (ROA). Magellan Midstream Partners, L.P.'s annualized Return on Assets (ROA) for the quarter that ended in Jun. 2014 was 11.40%. Total Assets is also linked to revenue through asset turnover. Magellan Midstream Partners, L.P.'s asset turnover for the quarter that ended in Jun. 2014 was 0.10.


Definition

Total assets are all the assets a company owns.

From the capital sources of the assets, some of the assets are funded through shareholder’s paid in capital and retained earnings of the business. Others are funded through borrowed money.

Magellan Midstream Partners, L.P.'s Total Assets for the fiscal year that ended in Dec. 2013 is calculated as

Total Assets=Total Current Assets+Total Long Term Assets
=Total Current Assets+(Net PPE+Intangibles+Other Long-Term Assets)
=396.733+(3916.258+60.55+447.271)
=4,821

Total Assets=Total Shareholder’s Equity (A: Dec. 2013 )+Total Liabilities (A: Dec. 2013 )
=1647.442+3173.37
=4,821

Magellan Midstream Partners, L.P.'s Total Assets for the quarter that ended in Jun. 2014 is calculated as

Total Assets=Total Current Assets+Total Long Term Assets
=Total Current Assets+(Net PPE+Intangibles+Other Long-Term Assets)
=358.458+(3942.727+59.191+763.883)
=5,124

Total Assets=Total Shareholder’s Equity (Q: Jun. 2014 )+Total Liabilities (Q: Jun. 2014 )
=1763.005+3361.254
=5,124

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


Explanation

Total Assets is connected with Return on Assets.

Magellan Midstream Partners, L.P.'s annualized Return on Assets (ROA) for the quarter that ended in Jun. 2014 is

Return on Assets (ROA)=Net Income (Q: Jun. 2014 )/Total Assets (Q: Jun. 2014 )
=585.04/5124.259
=11.40 %

Note: The Net Income data used here is four times the quarterly (Jun. 2014) net income data.

In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.

Total Assets is linked to total revenue through Asset Turnover.

Magellan Midstream Partners, L.P.'s Asset Turnover for the quarter that ended in Jun. 2014 is

Asset Turnover=Total Sales/Total Assets
=Revenue (Q: Jun. 2014 )/Total Assets (Q: Jun. 2014 )
=496.446/5124.259
=0.10

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

Therefore, if a company grows its assets faster than its sales, the asset turnover will decline. This might be a warning sign for the business.


Related Terms

Return on Assets, Assets Turnover, Net Income, Revenue, Total Current Assets, Net PPE, Intangibles, Other Long-Term Assets, Total Shareholder’s Equity, Total Liability


Historical Data

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

Magellan Midstream Partners, L.P. Annual Data

Dec04Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13
Total Assets 1,8181,8771,9532,1012,6013,1633,7184,0454,4204,821

Magellan Midstream Partners, L.P. Quarterly Data

Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14
Total Assets 4,0104,0754,1054,4204,4064,3884,5484,8215,1445,124
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