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Summit Materials's other current assets for the quarter that ended in Mar. 2024 was $42 Mil.
Summit Materials's quarterly other current assets increased from Sep. 2023 ($20 Mil) to Dec. 2023 ($819 Mil) but then declined from Dec. 2023 ($819 Mil) to Mar. 2024 ($42Mil).
Summit Materials's annual other current assets increased from Dec. 2021 ($13 Mil) to Dec. 2022 ($22 Mil) increased from Dec. 2022 ($22 Mil) to Dec. 2023 ($819 Mil).
The historical data trend for Summit Materials'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.
Summit Materials Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Other Current Assets | Get a 7-Day Free Trial | 13.83 | 11.43 | 13.06 | 22.26 | 819.07 |
Summit Materials Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Other Current Assets | Get a 7-Day Free Trial | 25.91 | 24.20 | 19.68 | 819.07 | 42.02 |
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:
The assets grouped under other current assets are most commonly:
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.
Thank you for viewing the detailed overview of Summit Materials's Other Current Assets provided by GuruFocus.com. Please click on the following links to see related term pages.
Craig Scott Anderson | officer: EVP & Chief Financial Officer | 1801 CALIFORNIA STREET, SUITE 3500, DENVER CO 80202 |
Christopher Burke Gaskill | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 08202 |
Kekin Ghelani | officer: Chief Strategy&Growth Officer | 1550 WYNKOOP, DENVER CO 80202 |
Anne K. Wade | director | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
John Raymond Murphy | director | 233 S PATTERSON AVE, SPRINGFIELD MO 65802 |
Anne P Noonan | director, officer: President & CEO | 25435 HARVARD RD, BEACHWOOD OH 44122 |
Tamla Oates-forney | director | 800 CAPITOL STREET 3000, HOUSTON TX 77002 |
Deon Macmillan | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 08202 |
Karli S. Anderson | officer: See Remarks | 1660 WYNKOOP STREET, SUITE 1000, DENVER CO 80202 |
Howard L Lance | director | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Joseph S Cantie | director | C/O DELPHI AUTOMOTIVE, 5725 DELPHI DRIVE, TROY MI 48098 |
Anne Lee Benedict | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Brian James Harris | officer: EVP & Chief Financial Officer | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Mikel Shane Evans | officer: See Remarks | C/O SUMMIT MATERIALS, INC., 1550 WYNKOOP STREET, 3RD FLOOR, DENVER CO 80202 |
Longleaf Partners Funds Trust | 10 percent owner | C/O SOUTHEASTERN ASSET MANAGEMENT, 6410 POPLAR AVE, SUITE 900, MEMPHIS TN 38119 |
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