Balance Sheet: Assets
Quarterly Data

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.

Expand Energy Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Cash and cash equivalents	349)	317)	1,044)	1,019)	1,179)	1,079)	713)	903)	130)	130)	74)	17)	19)	905)	849)	612)	340)
Restricted cash	78)	78)	76)	76)	75)	74)	73)	72)	67)	62)	56)	9)	9)	9)	9)	10)	68)
Accounts receivable, net	1,361)	1,226)	261)	350)	314)	593)	685)	671)	864)	1,438)	1,757)	1,804)	1,383)	1,115)	815)	674)	704)
Derivative assets	—)	84)	199)	361)	592)	637)	361)	417)	464)	34)	4)	2)	1)	5)	—)	—)	4)
Assets held for sale	—)	—)	—)	—)	—)	—)	520)	—)	862)	819)	—)	—)	—)	—)	—)	—)	—)
Other current assets	325)	292)	217)	207)	218)	226)	163)	157)	242)	215)	168)	178)	75)	69)	61)	58)	74)
Current assets	2,113)	1,997)	1,797)	2,013)	2,378)	2,609)	2,515)	2,220)	2,629)	2,698)	2,059)	2,010)	1,487)	2,103)	1,734)	1,354)	1,190)
Proved natural gas and oil properties	23,874)	23,093)	12,373)	12,105)	11,827)	11,468)	11,002)	11,201)	10,793)	11,096)	11,437)	10,816)	10,259)	7,682)	5,163)	4,960)	4,748)
Unproved properties	5,774)	5,897)	1,806)	1,800)	1,799)	1,806)	1,907)	2,000)	2,002)	2,022)	2,192)	2,211)	2,263)	1,530)	421)	442)	483)
Natural gas and oil properties, successful efforts method	29,648)	28,990)	14,179)	13,905)	13,626)	13,274)	12,909)	13,201)	12,795)	13,118)	13,629)	13,027)	12,522)	9,212)	5,584)	5,402)	5,231)
Other property and equipment	678)	654)	518)	512)	499)	497)	496)	501)	498)	500)	506)	498)	495)	495)	492)	491)	491)
Property and equipment	30,326)	29,644)	14,697)	14,417)	14,125)	13,771)	13,405)	13,702)	13,293)	13,618)	14,135)	13,525)	13,017)	9,707)	6,076)	5,893)	5,722)
Accumulated depreciation, depletion and amortization	(6,066)	(5,362)	(4,743)	(4,413)	(4,068)	(3,674)	(3,299)	(3,049)	(2,770)	(2,431)	(2,182)	(1,747)	(1,300)	(908)	(571)	(346)	(120)
Property and equipment held for sale, net	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1)	5)	3)	3)	3)	3)	2)
Property and equipment, net	24,260)	24,282)	9,954)	10,004)	10,057)	10,097)	10,106)	10,653)	10,523)	11,187)	11,954)	11,783)	11,720)	8,802)	5,508)	5,550)	5,604)
Long-term derivative assets	2)	1)	15)	19)	46)	74)	30)	78)	122)	47)	—)	13)	8)	—)	—)	—)	2)
Deferred income tax assets	626)	589)	1,038)	995)	926)	933)	1,032)	952)	973)	1,351)	—)	—)	—)	—)	—)	—)	—)
Other long-term assets	933)	1,025)	588)	577)	611)	663)	565)	526)	344)	185)	76)	93)	78)	104)	84)	95)	108)
Long-term assets	25,821)	25,897)	11,595)	11,595)	11,640)	11,767)	11,733)	12,209)	11,962)	12,770)	12,030)	11,889)	11,806)	8,906)	5,592)	5,645)	5,714)
Total assets	27,934)	27,894)	13,392)	13,608)	14,018)	14,376)	14,248)	14,429)	14,591)	15,468)	14,089)	13,899)	13,293)	11,009)	7,326)	6,999)	6,904)

Cash and cash equivalents: The cash balance exhibits significant volatility across the periods. It started at $340 million in the first quarter of 2021, surged to as high as $1.179 billion by the end of 2023, but then declined markedly to $317 million by the first quarter of 2025. This variability suggests fluctuations in liquidity management or operational cash flows over the timeframe.
Restricted cash: Restricted cash levels remained relatively stable, maintaining a range between $9 million and $78 million, with a slow but steady increase towards the end of the period. This reflects consistent reserved funds, possibly for compliance or contractual obligations.
Accounts receivable, net: Accounts receivable experienced considerable fluctuations, starting at $704 million and peaking at $1.804 billion in mid-2022, followed by a sharp decline to $261 million by the third quarter of 2024, and then rising again to $1.361 billion by the first quarter of 2025. This trend indicates variations in credit sales and collections efficiency throughout the periods.
Derivative assets: Derivative assets showed notable increases beginning in late 2022, peaking at $637 million by the end of 2023, before declining to lower values near $84 million by late 2024. The emergence and volatility of these assets suggest active use of derivatives for risk management or speculative purposes.
Assets held for sale: Assets held for sale appeared mainly in 2022 with a peak at $862 million, followed by absence in subsequent periods. This pattern suggests a one-time or limited transaction involving asset disposal during that year.
Other current assets: Other current assets fluctuated moderately, generally increasing from $74 million at the start of 2021 to $325 million by the end of 2024, indicating growth in miscellaneous current asset categories possibly related to prepayments or receivables.
Current assets: The overall current assets increased substantially from $1.190 billion in early 2021 to a peak near $2.698 billion in late 2021, then exhibited a gradual decline with some volatility, ending around $2.113 billion in early 2025. This reflects changing short-term asset structure and liquidity position over time.
Proved natural gas and oil properties: There was a strong upward trajectory in proved properties, rising consistently from $4.748 billion to $23.874 billion by early 2025, signaling major investment and expansion in proven reserves.
Unproved properties: Unproved properties initially grew from $483 million to approximately $2.263 billion, then declined to $1.806 billion, before a sharp jump to nearly $5.897 billion by late 2024, slightly decreasing thereafter. This indicates active exploration and potential reclassification of reserves.
Natural gas and oil properties (successful efforts method): The cumulative value of natural gas and oil properties increased steadily from $5.231 billion to nearly $29.648 billion, showing sustained capital expenditure and asset growth under this accounting method.
Other property and equipment: This category remained relatively stable with a slight increase from $491 million to $678 million, reflecting moderate investment in fixed assets beyond core reserves.
Property and equipment: Property and equipment rose markedly, especially towards the end, from $5.722 billion to $30.326 billion, consistent with the increases in natural gas and oil properties, underscoring asset base expansion.
Accumulated depreciation, depletion and amortization: Accumulated charges steadily increased in absolute terms from -$120 million to -$6.066 billion, implying ongoing systematic cost recognition consistent with asset growth.
Property and equipment held for sale, net: This item appeared only briefly and with small values, indicating minimal asset disposals in this category.
Property and equipment, net: The net value of property and equipment showed initial growth up to 2021 followed by declines through most of the period, but then surged dramatically to $24.282 billion in late 2024 and held steady, reflecting significant revaluation or asset additions offset by depreciation.
Long-term derivative assets: Long-term derivative assets were sporadic but showed an increase mid-period, peaking at $122 million, followed by a decline, indicating variable long-term hedging or risk positions.
Deferred income tax assets: Deferred tax assets appeared only from late 2021, fluctuating between $589 million and $1.351 billion, suggestive of changing taxable temporary differences or tax planning impacts.
Other long-term assets: These assets grew significantly from $108 million to over $1 billion, indicating accumulation of other non-current resources or investments.
Long-term assets: Long-term assets increased from $5.714 billion to approximately $25.897 billion, reflecting major capital accumulation and asset base expansion over the observed periods.
Total assets: Total assets grew from $6.904 billion in early 2021 to nearly $27.934 billion by early 2025, marking substantial overall asset growth consistent with expansions in both current and long-term assets.

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Expand Energy Corp. (NASDAQ:EXE)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data