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Brown-Forman Corporation (NYSE:BF.B)
Total Current Assets
$2,103 Mil (As of Jan. 2014)

Total current assets includes Cash and Cash Equivalents, Accounts Receivable, Inventory, and Other Current Assets. Brown-Forman Corporation's total current assets for the quarter that ended in Jan. 2014 was $2,103 Mil.


Definition

Total Current Assets are the asset that can be converted to cash or used to pay current liabilities within 12 months.

Brown-Forman Corporation's Total Current Assets for the fiscal year that ended in Apr. 2013 is calculated as

Brown-Forman Corporation's Total Current Assets for the quarter that ended in Jan. 2014 is calculated as

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

Total Current Assets is linked to the Current Ratio, which is the result of dividing total current assets by total current liabilities. It is frequently used as an indicator of a company's liquidity, its ability to meet short-term obligations.

Total Current Assets is also linked to Working Capital, Net working capital is calculated as Total Current Assets minus Total Current Liabilities.


Explanation

In Ben Graham’s calculation of liquidation value, inventory is only considered worth half of its book value, and accounts receivable is considered worth 75% of its value. Therefore the liquidation value is lower than calculated from total current assets.

Brown-Forman Corporation's Liquidation Value for the quarter that ended in Jan. 2014 is

Liquidation value
=Cash and Cash Equivalents-Total Liabilities+(0.75 * Account Receivable)+(0.5 * Inventory)
=287-2104+0.75 * 679+0.5 * 873
=-871

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


Related Terms

Cash and Cash Equivalents, Accounts Receivable, Inventory, Other Current Assets


Historical Data

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

Brown-Forman Corporation Annual Data

Apr04Apr05Apr06Apr07Apr08Apr09Apr10Apr11Apr12Apr13
Total Current Assets 1,0831,3151,6091,6351,4561,5741,5271,9761,7491,821

Brown-Forman Corporation Quarterly Data

Oct11Jan12Apr12Jul12Oct12Jan13Apr13Jul13Oct13Jan14
Total Current Assets 1,9461,9531,7491,8502,0552,0461,8211,8612,0332,103
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