Name: Diamondback Energy Inc. (NASDAQ:FANG) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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Diamondback Energy Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	654)	104)	123)	215)	112)
Restricted cash	18)	4)	5)	—)	—)
Accounts receivable, joint interest and other, net	72)	56)	186)	96)	73)
Accounts receivable, oil and natural gas sales, net	598)	281)	429)	297)	159)
Inventories	62)	33)	37)	38)	9)
Derivative instruments	13)	1)	46)	231)	1)
Income tax receivable	1)	100)	19)	—)	—)
Prepaid expenses and other current assets	28)	23)	24)	50)	5)
Current assets	1,446)	602)	869)	925)	359)
Property and equipment, net	20,619)	16,214)	21,835)	20,372)	7,344)
Funds held in escrow	12)	51)	—)	—)	6)
Equity method investments	613)	533)	479)	1)	—)
Derivative instruments	4)	—)	7)	—)	—)
Deferred income taxes, net	40)	73)	142)	97)	—)
Investment in real estate, net	88)	101)	109)	116)	—)
Other assets	76)	45)	90)	85)	62)
Long-term assets	21,452)	17,017)	22,662)	20,671)	7,412)
Total assets	22,898)	17,619)	23,531)	21,596)	7,771)

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 asset structure of the organization experienced significant volatility and growth between 2017 and 2021. Total assets increased from 7.77 billion in 2017 to 22.90 billion by 2021, characterized by a sharp expansion in 2018, a notable contraction in 2020, and a recovery in 2021. The overall asset base is heavily weighted toward long-term assets, specifically property and equipment.

Total and Long-Term Asset Trends: A substantial increase in total assets occurred in 2018, rising from 7.77 billion to 21.60 billion. This growth was primarily driven by property and equipment, net, which jumped from 7.34 billion to 20.37 billion in the same period. A downward adjustment is observed in 2020, where property and equipment fell to 16.21 billion, leading to a decrease in total assets to 17.62 billion. However, by 2021, property and equipment recovered to 20.62 billion, restoring total assets to 22.90 billion.
Current Asset Dynamics: Current assets grew from 359 million in 2017 to 1.45 billion in 2021. A significant portion of this growth is attributed to cash and cash equivalents, which rose from 112 million in 2017 to 654 million in 2021. Accounts receivable for oil and natural gas sales also showed a strong upward trend, increasing from 159 million in 2017 to 598 million in 2021, indicating an expansion in sales volume or changes in collection cycles.
Other Asset Observations: Equity method investments grew steadily from 1 million in 2018 to 613 million in 2021, representing a growing diversification of asset holdings. Derivative instruments in current assets peaked at 231 million in 2018 before declining sharply. Income tax receivables experienced a spike in 2020, reaching 100 million, before returning to a nominal 1 million in 2021.

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