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Nexteer Automotive Group (Nexteer Automotive Group) Other Current Assets : $14 Mil (As of Dec. 2023)


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What is Nexteer Automotive Group Other Current Assets?

Nexteer Automotive Group's other current assets for the quarter that ended in Dec. 2023 was $14 Mil.

Nexteer Automotive Group's quarterly other current assets declined from Dec. 2022 ($29 Mil) to Jun. 2023 ($9 Mil) but then increased from Jun. 2023 ($9 Mil) to Dec. 2023 ($14Mil).

Nexteer Automotive Group's annual other current assets increased from Dec. 2021 ($0 Mil) to Dec. 2022 ($29 Mil) declined from Dec. 2022 ($29 Mil) to Dec. 2023 ($14 Mil).


Nexteer Automotive Group Other Current Assets Historical Data

The historical data trend for Nexteer Automotive Group'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.

Nexteer Automotive Group Other Current Assets Chart

Nexteer Automotive Group Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Other Current Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.01 0.01 0.01 28.51 14.45

Nexteer Automotive Group Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
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 0.01 0.01 28.51 9.38 14.45

Nexteer Automotive Group 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.


Nexteer Automotive Group Other Current Assets Related Terms

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Nexteer Automotive Group (Nexteer Automotive Group) Business Description

Traded in Other Exchanges
Address
1272 Doris Road, Auburn Hills, MI, USA, 48326
Nexteer Automotive Group Ltd offers advanced steering and driveline systems. The company's customers are well-known automakers like BMW, Fiat Chrysler, Ford, GM, and Toyota, as well as automakers in India, South America, and China. The business units are electric power steering, hydraulic power steering, steering columns, driveline, and half shafts. The electric power steering includes columns, an intermediate shaft, and steering gear, EPS motors, sensors, controllers, and assist mechanisms. The Group classifies its businesses into three reportable segments: North America, Asia Pacific, and Europe, Middle East, Africa and South America (EMEASA). All of the Group's operating segments typically offer the same steering and driveline products, the majority are derived from North America.

Nexteer Automotive Group (Nexteer Automotive Group) Headlines