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.

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

US$ in millions

	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013	Dec 31, 2012	Sep 30, 2012	Jun 30, 2012	Mar 31, 2012	Dec 31, 2011	Sep 30, 2011	Jun 30, 2011	Mar 31, 2011
Cash and cash equivalents	1,201)	1,004)	1,467)	1,655)	2,950)	229)	769)	510)	524)	1,643)	1,906)	1,251)	184)	248)	160)	318)	361)	245)	295)	586)	1,107)	356)
Short-term restricted cash	—)	—)	—)	—)	—)	—)	—)	74)	778)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Receivables, net of allowance	1,016)	1,120)	1,253)	1,332)	1,589)	1,767)	2,024)	2,287)	2,407)	2,479)	2,952)	3,086)	2,914)	3,106)	3,086)	2,976)	2,625)	3,163)	3,079)	2,560)	2,495)	2,490)
Inventories	530)	547)	570)	667)	629)	666)	708)	713)	794)	727)	891)	889)	973)	885)	908)	774)	745)	607)	655)	566)	633)	593)
Drilling advances	202)	190)	172)	186)	193)	468)	388)	434)	331)	323)	371)	452)	298)	365)	584)	573)	356)	368)	229)	277)	250)	277)
Assets held for sale	—)	—)	—)	79)	—)	1,804)	1,628)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Derivative instruments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1)	3)	87)	16)	31)	104)	232)	284)	304)	—)	—)	—)
Deferred tax asset	—)	—)	—)	84)	84)	769)	769)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Prepaid assets and other	343)	399)	290)	76)	48)	203)	129)	408)	292)	291)	245)	335)	302)	228)	193)	299)	320)	287)	241)	587)	415)	285)
Current assets	3,292)	3,260)	3,752)	4,079)	5,493)	5,906)	6,415)	4,426)	5,126)	5,463)	6,366)	6,016)	4,758)	4,848)	4,962)	5,044)	4,639)	4,954)	4,803)	4,576)	4,900)	4,001)
Proved properties	42,469)	42,161)	89,069)	85,967)	84,627)	91,634)	89,852)	86,963)	84,033)	82,727)	83,390)	81,111)	83,287)	80,631)	78,383)	74,743)	72,545)	69,438)	67,805)	63,086)	61,028)	59,397)
Unproved properties and properties under development, not being amortized	2,285)	2,241)	2,611)	4,857)	5,233)	6,753)	7,014)	7,928)	7,789)	8,332)	8,363)	8,328)	8,628)	8,574)	8,754)	9,196)	8,539)	5,731)	5,530)	5,315)	5,252)	5,237)
Oil and gas, on the basis of successful efforts accounting	44,754)	44,402)	91,680)	90,824)	89,860)	98,387)	96,866)	94,891)	91,822)	91,059)	91,753)	89,439)	91,915)	89,205)	87,137)	83,939)	81,084)	75,169)	73,335)	68,401)	66,280)	64,634)
Gathering, transmission and processing facilities	862)	1,048)	1,052)	4,226)	4,299)	5,472)	5,440)	7,874)	7,587)	7,209)	6,995)	6,791)	6,547)	6,293)	5,955)	5,758)	5,623)	5,438)	5,175)	4,684)	4,481)	4,337)
Other	1,098)	1,094)	1,093)	1,071)	1,084)	1,161)	1,152)	1,107)	1,103)	1,068)	1,071)	1,071)	1,031)	1,078)	1,055)	930)	870)	733)	709)	675)	637)	606)
Property and equipment, less accumulated depreciation, depletion and amortization	46,714)	46,544)	93,825)	96,121)	95,243)	105,020)	103,458)	103,872)	100,512)	99,336)	99,819)	97,301)	99,493)	96,576)	94,147)	90,627)	87,577)	81,340)	79,219)	73,760)	71,398)	69,577)
Accumulated depreciation, depletion and amortization	(26,571)	(25,985)	(79,706)	(73,744)	(66,928)	(63,790)	(55,382)	(50,837)	(48,042)	(46,584)	(47,398)	(45,839)	(43,672)	(42,287)	(40,867)	(39,463)	(37,442)	(35,511)	(33,771)	(32,624)	(31,560)	(30,531)
Property and equipment, net	20,143)	20,559)	14,119)	22,377)	28,315)	41,230)	48,076)	53,035)	52,470)	52,752)	52,421)	51,462)	55,821)	54,289)	53,280)	51,164)	50,135)	45,829)	45,448)	41,136)	39,838)	39,046)
Long-term restricted cash	—)	—)	—)	—)	—)	—)	—)	471)	589)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Deferred charges and other	911)	915)	971)	1,356)	1,504)	1,514)	1,461)	3,058)	2,986)	2,906)	2,850)	2,761)	2,771)	2,655)	2,495)	2,602)	2,443)	2,454)	1,800)	1,770)	1,791)	1,819)
Other assets	911)	915)	971)	1,356)	1,504)	1,514)	1,461)	3,529)	3,575)	2,906)	2,850)	2,761)	2,771)	2,655)	2,495)	2,602)	2,443)	2,454)	1,800)	1,770)	1,791)	1,819)
Noncurrent assets	21,054)	21,474)	15,090)	23,733)	29,819)	42,744)	49,537)	56,564)	56,045)	55,658)	55,271)	54,223)	58,592)	56,944)	55,775)	53,766)	52,578)	48,283)	47,248)	42,906)	41,629)	40,865)
Total assets	24,346)	24,734)	18,842)	27,812)	35,312)	48,650)	55,952)	60,990)	61,171)	61,121)	61,637)	60,239)	63,350)	61,792)	60,737)	58,810)	57,217)	53,237)	52,051)	47,482)	46,529)	44,866)

Cash and cash equivalents: The cash balance exhibited significant fluctuations, peaking notably at $3,032 million in December 2015, indicating periods of strong liquidity followed by declines. There is a general pattern of volatility with several spikes especially in late 2013 and mid-2015.
Short-term restricted cash: This component appeared only in 2014 with a high value of $778 million in December 2014, followed by a sharp decrease to $74 million in the subsequent quarter, suggesting a release or reclassification of restricted assets during this time frame.
Receivables, net of allowance: Receivables showed a downward trend overall, decreasing from $2,490 million in early 2011 to approximately $1,016 million by mid-2016. This trend may indicate improved collections or a reduction in credit sales over the period.
Inventories: Inventories increased moderately from $593 million in early 2011 to a peak of $973 million in mid-2013, followed by a gradual decline to $530 million by mid-2016. This pattern suggests cycling inventory levels affected by operational changes or demand fluctuations.
Drilling advances: Values fluctuated substantially with peaks in 2012 and again in late 2014 near $573 million and $468 million respectively, followed by reductions in subsequent quarters. This may reflect timing differences in advance payments for drilling activities.
Assets held for sale: This item appeared in late 2014 with values exceeding $1.8 billion, reflecting significant asset disposals or restructuring efforts commencing at that time.
Derivative instruments: Derivatives were recorded mainly in 2011 and 2012, with declining values towards minimal amounts by early 2013, suggesting a reduction or closure of derivative positions.
Deferred tax asset: Reported only starting in late 2014, peaking at $769 million, but sharply declining within a year to $84 million, indicating changes in expected future tax benefits.
Prepaid assets and other: This category showed volatility, with peaks in early 2014 and mid-2016 around $400 million, and lows near $48 million in early 2015, reflecting varied timing in prepayments or miscellaneous current assets.
Current assets: Generally stable with peaks above $6 billion in late 2013 and mid-2014, but substantially decreasing to about $3.3 billion by mid-2016, highlighting a possible contraction in liquid or short-term assets.
Proved properties: There was a steady increase from approximately $59.4 billion in early 2011 to nearly $91 billion by mid-2016, representing ongoing capital investment or asset revaluation in proved reserves prior to mid-2016, followed by a sharp decrease indicating possible impairments or asset sales.
Unproved properties and properties under development: Values rose to a high near $9.2 billion in 2012, but subsequently decreased significantly to about $2.3 billion by mid-2016, indicating a reduction in exploration or development projects.
Oil and gas (successful efforts accounting): This major asset class increased from $64.6 billion in early 2011 to nearly $98.4 billion by late 2014, then declined sharply afterward to about $44.7 billion in mid-2016, consistent with downward revisions or disposals in resource assets.
Gathering, transmission and processing facilities: Values grew steadily to peak around $7.9 billion in late 2014, before a notable decline to $862 million by mid-2016, indicating divestitures or impairment of infrastructure assets.
Other assets: This category remained relatively stable throughout the period, mostly within the $600 million to $1.1 billion range.
Property and equipment, net: The net value of property and equipment generally increased through 2014 to over $53 billion, then decreased sharply afterwards to $20 billion by mid-2016, reflecting heavy depreciation, impairments, or asset sales in recent years.
Accumulated depreciation, depletion and amortization (ADDA): The ADDA balance consistently increased in absolute value from about $30.5 billion in early 2011 to nearly $79.7 billion at the end of 2015, indicating ongoing depreciation and resource depletion, followed by a reduction by mid-2016 consistent with asset restructuring or impairment adjustments.
Long-term restricted cash: Appeared only in late 2013 and 2014 with values peaking at $589 million, then disappearing, suggesting temporary restrictions on cash during that interval.
Deferred charges and other: This item remained relatively constant with minor fluctuations, generally ranging between $1.5 billion and $3 billion before declining after 2014.
Noncurrent assets: Noncurrent assets rose steadily to around $56 billion by late 2014 before decreasing significantly to approximately $21 billion by mid-2016, consistent with asset disposals or impairments.
Total assets: Total assets grew from about $44.9 billion in early 2011 to a peak near $63.4 billion in mid-2013, followed by a progressive decline to roughly $24.3 billion by mid-2016, reflecting an overall reduction in asset base largely due to property sales, impairments, or operational downsizing.

Assets: Selected Items

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Apache Corp. (NYSE:APA)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data