Inventory Accounting Policy
Commodity inventories are stated at the lower of average cost or market.
Source: Anadarko Petroleum Corp., Annual Report
Commodity inventories are stated at the lower of average cost or market.
Source: Anadarko Petroleum Corp., Annual Report
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Anadarko Petroleum Corp., Statement of Financial Position, Inventory
USD $ in millions
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
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Crude oil | |
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Natural gas | |
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NGLs | |
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Inventories | |
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Source: Based on data from Anadarko Petroleum Corp. Annual Reports
| Item | Description | The company |
|---|---|---|
| Crude oil | Carrying amount as of the balance sheet date of finished goods inventories for petroleum products, crude oil, petrochemical products, and other oil and gas inventories. | Anadarko Petroleum Corp.'s crude oil increased from 2009 to 2010 but then slightly declined from 2010 to 2011 not reaching 2009 level. |
| Natural gas | Carrying amount as of the balance sheet date of liquid hydrocarbon components recovered from natural gas. | Anadarko Petroleum Corp.'s natural gas declined from 2009 to 2010 and from 2010 to 2011. |
| Inventories | Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). | Anadarko Petroleum Corp.'s inventories increased from 2009 to 2010 but then declined significantly from 2010 to 2011. |
May 23, 2012