Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Photronics's intangible assets for the quarter that ended in Jan. 2021 was $2.4 Mil.
Photronics Intangible Assets Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
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Photronics Annual Data
Oct11
Oct12
Oct13
Oct14
Oct15
Oct16
Oct17
Oct18
Oct19
Oct20
Intangible Assets
19.85
17.12
12.37
7.87
3.44
Photronics Quarterly Data
Apr16
Jul16
Oct16
Jan17
Apr17
Jul17
Oct17
Jan18
Apr18
Jul18
Oct18
Jan19
Apr19
Jul19
Oct19
Jan20
Apr20
Jul20
Oct20
Jan21
Intangible Assets
6.85
5.69
4.54
3.44
2.38
Photronics Intangible Assets Calculation
Intangible assets are defined as identifiable non-monetary assets that cannot be seen, touched or physically measured. Examples of intangible assets include trade secrets, copyrights, patents, trademarks. If a company acquires assets at the prices above the book value, it may carry goodwill on its balance sheet. Goodwill reflects the difference between the price the company paid and the book value of the assets.
If a company (company A) received a patent through their own work, though it has value, it does not show up on its balance sheet as an intangible asset. However, if company A sells this patent to company B, it will show up on company B's balance sheet as an intangible asset.
The same applies to brand names, trade secrets etc. For instance, Coca-Cola's brand is extremely valuable, but the brand does not appear on its balance sheet, because the brand was never acquired.
Some intangibles are amortized. Amortization is the depreciation of intangible assets.
Many intangibles are not amortized. They may still be written down when the company decides the asset is impaired.
Whenever you see an increase in goodwill over a number of years, you can assume it's because the company is out buying other businesses above book value. GOOD if buying businesses with durable competitive advantage.
If goodwill stays the same, the company when acquiring other companies is either paying less than book value or not acquiring. Businesses with moats never sell for less than book value.
Intangibles acquired are on balance sheet at fair value.
Internally developed brand names (Coke, Wrigleys, Band-Aid) however are not reflected on the balance sheet.
One of the reasons competitive advantage power can remain hidden for so long.
Be Aware
Companies may change the way intangible assets are amortized, and this will affect their reported earnings.
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