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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Expand Energy Corp., consolidated balance sheet: assets

US$ in millions

		Dec 31, 2024		Dec 31, 2023		Dec 31, 2022		Dec 31, 2021
	Cash and cash equivalents
	Restricted cash
	Accounts receivable, net
	Derivative assets
	Assets held for sale
	Other current assets
	Current assets
	Property and equipment, net
	Long-term derivative assets
	Deferred income tax assets
	Other long-term assets
	Long-term assets
	Total assets

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The analysis of financial data over the four-year period reveals notable fluctuations and trends in various asset categories.

Cash and Cash Equivalents: There was a sharp decline from 905 million US dollars at the end of 2021 to 130 million in 2022, followed by an increase to 1,079 million in 2023 before dropping again to 317 million in 2024. This pattern suggests volatility in liquid asset management or short-term cash flows.
Restricted Cash: Restricted cash showed a consistent upward trend, increasing from 9 million in 2021 to 78 million in 2024, indicating growing funds subject to limitations or earmarked for specific purposes.
Accounts Receivable, Net: This item increased from 1,115 million in 2021 to a peak of 1,438 million in 2022, then declined sharply to 593 million in 2023, before rising again to 1,226 million in 2024. The fluctuations could suggest variability in credit sales and collections efficiency.
Derivative Assets: Derivative assets exhibited significant volatility, starting at 5 million in 2021, rising substantially to 637 million in 2023, and then decreasing to 84 million in 2024. This could reflect changes in hedging activities or market valuation of financial instruments.
Assets Held for Sale: Assets held for sale appeared only in 2022 at 819 million, with no recorded values in other years, indicating planned disposals or reclassifications during that year.
Other Current Assets: A consistent increase was observed, from 69 million in 2021 to 292 million in 2024, signaling growth in miscellaneous current asset categories.
Current Assets: Current assets rose from 2,103 million in 2021 to 2,698 million in 2022, then slightly declined to 2,609 million in 2023, and decreased further to 1,997 million in 2024. Despite some decreases, current assets maintain a higher level than the initial year,
yet the downward movement in the last two years may warrant attention to liquidity management.
Property and Equipment, Net: There was substantial growth overall, moving from 8,802 million in 2021 to a peak of 24,282 million in 2024, despite a dip in 2023. This impressive increase indicates heavy investment in fixed assets or potential acquisition of significant physical assets.
Long-term Derivative Assets: These assets showed small amounts in 2022 and 2023 (47 million and 74 million respectively) but fell back to a nominal 1 million in 2024, reflecting potentially declining long-term derivative positions or changes in accounting treatment.
Deferred Income Tax Assets: This category peaked at 1,351 million in 2022 and then steadily declined to 589 million by 2024, possibly indicating shifts in tax planning, realizability concerns, or changes in profitability affecting deferred taxes.
Other Long-term Assets: A steady increase is evident from 104 million in 2021 to 1,025 million in 2024, signifying growth in other non-current asset holdings.
Long-term Assets: Long-term assets exhibited growth until 2022, reaching 12,770 million, followed by a slight decrease in 2023 to 11,767 million, and then a notable surge to 25,897 million in 2024. This pattern largely correlates with the rise in property and equipment and other long-term assets.
Total Assets: Total assets increased from 11,009 million in 2021 to 15,468 million in 2022, then decreased to 14,376 million in 2023, and surged significantly to 27,894 million in 2024. The marked increase in the final year is likely driven by substantial additions in long-term assets, especially property and equipment.

Overall, the data reflects a phase of asset growth predominantly in long-term categories, especially fixed assets, accompanied by volatility in liquid and current asset components. This suggests an investment-focused period that may impact liquidity levels. The presence of derivative assets and their fluctuations indicate active financial risk management or market exposure adjustments. Monitoring cash trends and receivables will be important to ensure ongoing operational stability amid the asset expansion.

Assets: Selected Items

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Current Assets: Selected Items