Name: Expand Energy Corp. (NASDAQ:EXE) | Balance Sheet: Assets (Quarterly)
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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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)

The overall asset base exhibits a pattern of steady growth followed by a massive expansion in the fourth quarter of 2024. Total assets increased from 6.9 billion US$ in March 2021 to 13.4 billion US$ by September 2024, before surging to approximately 27.9 billion US$ by March 2025. This significant increase is primarily driven by a substantial expansion in long-term property and equipment.

Fixed Asset Expansion and Valuation: The most prominent trend is the growth of proved natural gas and oil properties, which rose from 4.7 billion US$ in early 2021 to 12.3 billion US$ by September 2024. A pivotal increase occurred between September and December 2024, where these assets jumped to 23.1 billion US$, eventually reaching 23.9 billion US$ by March 2025. Unproved properties followed a similar trajectory, increasing from 483 million US$ in March 2021 to 5.8 billion US$ by the end of 2024. This suggests a major acquisition or a significant revaluation of reserves during the final quarter of 2024.
Depreciation and Asset Netting: Accumulated depreciation, depletion, and amortization have grown consistently and linearly, moving from -120 million US$ in March 2021 to -6.1 billion US$ by March 2025. Despite the acceleration of gross property and equipment values, the net property and equipment value remained relatively stable around 10 billion US$ between March 2023 and September 2024, before doubling to 24.3 billion US$ following the late 2024 asset surge.
Liquidity and Current Asset Volatility: Cash and cash equivalents demonstrated significant volatility. A peak of 905 million US$ in December 2021 was followed by a sharp decline to 17 million US$ by June 2022, indicating a period of intense capital expenditure or debt servicing. Liquidity recovered throughout 2023, peaking at 1.2 billion US$ in March 2024, before dropping again to 317 million US$ in December 2024. Accounts receivable also showed a peaking trend in mid-2022 at 1.8 billion US$ before trending downward and then spiking again to 1.36 billion US$ by March 2025, mirroring the broader asset expansion.
Other Long-Term Assets and Tax Positions: Deferred income tax assets appeared on the balance sheet in December 2022 at 1.35 billion US$ and have since fluctuated, ending at 626 million US$ in March 2025. Derivative assets showed a notable increase in early 2023, peaking at 637 million US$ in December 2023, but declined sharply toward the end of the period, reaching negligible levels by March 2025. This suggests a reduction in hedging activities or a change in the fair value of derivative contracts.

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Expand Energy Corp. (NASDAQ:EXE)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data