Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2012
- Operating Profit Margin since 2012
- Total Asset Turnover since 2012
- Price to Sales (P/S) since 2012
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Diamondback Energy Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
The data reveals several notable trends in the company's financial position over the five-year period.
- Liquidity and Current Assets
- Cash and cash equivalents exhibited fluctuations, starting at 112 million USD in 2017, peaking at 215 million USD in 2018, then declining to 104 million USD in 2020 before sharply increasing to 654 million USD in 2021. Restricted cash, initially absent, appeared modestly from 2019 onward, reaching 18 million USD in 2021.
- Accounts receivable related to joint interest and other items increased markedly to 186 million USD by 2019 but declined substantially to 56 million USD in 2020, followed by a partial recovery to 72 million USD in 2021. Conversely, receivables from oil and natural gas sales demonstrated an overall increasing trend, rising consistently from 159 million USD in 2017 to 598 million USD by 2021, despite a dip in 2020.
- Inventories rose significantly from a low of 9 million USD in 2017 to 62 million USD in 2021, reflecting potential increases in production inputs or stockpiling strategies.
- Derivative instruments reported in current assets saw considerable volatility, spiking at 231 million USD in 2018 but falling sharply thereafter to 13 million USD in 2021.
- Income tax receivable appeared from 2019 at 19 million USD, peaked at 100 million USD in 2020, then declined to 1 million USD in 2021.
- Prepaid expenses and other current assets increased sharply in 2018 to 50 million USD, then stabilized in the 20-30 million USD range subsequently.
- The aggregate current assets totaled a high of 925 million USD in 2018, followed by a decrease to 602 million USD in 2020 but demonstrated a strong recovery to 1,446 million USD by 2021, indicating improved short-term financial capacity.
- Long-Term Assets
- Property and equipment, net, showed substantial growth from 7,344 million USD in 2017 to a peak of 21,835 million USD in 2019, declined notably in 2020 to 16,214 million USD, and rebounded to 20,619 million USD in 2021. This pattern suggests significant capital expenditures followed by asset disposals or impairments, and subsequent reinvestments or asset revaluations.
- Funds held in escrow were absent initially but noted at 51 million USD in 2020, declining to 12 million USD in 2021, possibly reflecting transaction-related reserves.
- Equity method investments appeared starting in 2018, increasing steadily to 613 million USD in 2021, indicating expanding investments in associated entities.
- Long-term derivative instruments were low and inconsistent, with minor balances of 7 million USD in 2019 and 4 million USD in 2021.
- Deferred income taxes, net, increased to 142 million USD in 2019 but have since decreased to 40 million USD in 2021, reflecting changes in tax liabilities or timing differences.
- Investment in real estate, net, declined gradually from 116 million USD in 2018 to 88 million USD in 2021, suggesting disposals or depreciation outpacing acquisitions.
- Other assets fluctuated moderately, starting at 62 million USD in 2017, peaking at 90 million USD in 2019, then declining to 45 million USD in 2020 before increasing to 76 million USD in 2021.
- Overall, long-term assets increased from 7,412 million USD to a peak of 22,662 million USD in 2019, dipped in 2020 to 17,017 million USD, and bounced back to 21,452 million USD in 2021, reflecting significant asset management activity over the period.
- Total Assets
- Total assets grew markedly from 7,771 million USD in 2017 to 23,531 million USD in 2019, experienced a decline to 17,619 million USD in 2020, and subsequently increased to 22,898 million USD in 2021. This trajectory demonstrates expansion through asset acquisitions or value appreciation, followed by a temporary contraction and recovery.