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Schmitt Industries (Schmitt Industries) Other Current Assets : $0.76 Mil (As of May. 2022)


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What is Schmitt Industries Other Current Assets?

Schmitt Industries's other current assets for the quarter that ended in May. 2022 was $0.76 Mil.

Schmitt Industries's quarterly other current assets declined from Nov. 2021 ($0.13 Mil) to Feb. 2022 ($0.03 Mil) but then increased from Feb. 2022 ($0.03 Mil) to May. 2022 ($0.76Mil).

Schmitt Industries's annual other current assets increased from May. 2020 ($0.48 Mil) to May. 2021 ($0.93 Mil) declined from May. 2021 ($0.93 Mil) to May. 2022 ($0.76 Mil).


Schmitt Industries Other Current Assets Historical Data

The historical data trend for Schmitt Industries's Other Current Assets can be seen below:

* 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.

* Premium members only.

Schmitt Industries Other Current Assets Chart

Schmitt Industries Annual Data
Trend May13 May14 May15 May16 May17 May18 May19 May20 May21 May22
Other Current Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.21 5.30 0.48 0.93 0.76

Schmitt Industries Quarterly Data
Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22
Other Current Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.93 0.47 0.13 0.03 0.76

Schmitt Industries Other Current Assets Calculation

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.


Schmitt Industries Other Current Assets Related Terms

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Schmitt Industries (Schmitt Industries) Business Description

Traded in Other Exchanges
N/A
Address
2765 North West Nicolai Street, Portland, OR, USA, 97210
Schmitt Industries Inc is engaged in propane tank monitoring solutions, precision measurement solutions, and ice cream production and distribution. The Company operates as two reportable segments: the Measurement Segment and the Ice Cream Segment. Xact product line includes satellite-focused remote tank monitoring products and related monitoring services for markets in the IoT environment. The Company also manufactures, wholesales, and retails ice cream and related products.
Executives
Dustin Henderson other: Shareholder 11125 N PARK BLVD, STE 106, SEMINOLE FL 33772
Kristi Michelle Smaha director C/O SCHMITT INDUSTRIES, INC., 2765 N.W. NICOLAI STREET, PORTLAND OR 97210-1818
Alexandre Zyngier director 5700 W. PLANO PARKWAY, SUITE 3600, PLANO TX 75093
Philip Bosco officer: Chief Financial Officer 2765 NW NICOLAI STREET, PORTLAND OR 97210
Lillian Tung director 45 WEST 67TH STREET, 10D, NEW YORK NY 10023
Michael R. Zapata officer: Chief Executive Officer 2765 NW NICOLAI STREET, PORTLAND OR 97210
Andrews P Hines director
Steven Strom director 2765 NW NICOLAI STREET, PORTLAND OR 97210
Charles Davidson director C/O SCHMITT INDUSTRIES, INC., 2765 N.W. NICOLAI STREET, PORTLAND OR 97210
Jamie Michael Schmidt officer: Chief Financial Officer 2765 NW NICOLAI STREET, PORTLAND OR 97210
Walter Brown Pistor 10 percent owner 2415 KALAMA RIVER ROAD, KALAMA WA 98625
Regina Walker officer: Chief Financial Officer 2765 NW NICOLAI STREET, PORTLAND OR 97210
Michael Ellsworth director SCHMITT INDUSTRIES, INC., 2765 NW NICOLAI, PORTLAND OR 97210
David Hudson director SCHMITT INDUSTRIES, INC., 2765 NW NICOLAI, PORTLAND OR 97210
Maynard E Brown director 1595 - 19TH STREET, WEST VANCOUVER A1 V7V 3X5

Schmitt Industries (Schmitt Industries) Headlines

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