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
Current Assets: Selected Items
Based on: 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31).
Total assets exhibited a period of growth between March 2012 and December 2014, peaking at 61,689 million US dollars before entering a consistent decline that resulted in a closing balance of 43,128 million US dollars by September 30, 2017. This overall contraction is primarily driven by a reduction in noncurrent assets and significant volatility within current asset holdings.
- Liquidity and Current Asset Trends
- Current assets reached a peak of 11,739 million US dollars in September 2014, followed by a sharp contraction to 5,165 million US dollars by March 2015. Cash and cash equivalents showed substantial volatility, with a high of 8,335 million US dollars in September 2014 and a low of 939 million US dollars in December 2015. While cash levels recovered to 5,251 million US dollars by September 2017, accounts receivable showed a long-term downward trend, falling from 3,248 million US dollars in March 2012 to 1,882 million US dollars in September 2017.
- Fixed Asset Management and Valuation
- Net properties and equipment grew steadily from 38,166 million US dollars in March 2012 to a peak of 41,589 million US dollars in December 2014. Subsequently, a sustained decline occurred, with the value falling to 27,832 million US dollars by September 2017. This decline is mirrored by the trend in accumulated depreciation, depletion, and amortization, which increased from -23,440 million US dollars in March 2012 to a peak of -38,015 million US dollars in March 2016, indicating significant asset consumption or impairment charges during the 2015-2017 window.
- Other Noncurrent Assets and Specialized Items
- Goodwill and other intangible assets remained relatively stable, fluctuating between 5,501 million and 6,569 million US dollars, though a gradual decline is noted toward the end of the period. A specific asset, the Algeria exceptional profits tax settlement, was systematically reduced from 1,458 million US dollars in March 2012 until it was fully settled and removed from the balance sheet by September 2013.
- Overall Asset Composition Shift
- The balance sheet shifted from a peak total asset value of over 61 billion US dollars in late 2014 to approximately 43 billion US dollars by late 2017. The most significant erosion occurred in the noncurrent asset category, which fell from a high of 50,468 million US dollars in December 2014 to 35,655 million US dollars by September 2017, representing a substantial reduction in the long-term asset base.
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