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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Apache Corp., consolidated balance sheet: assets

US$ in millions

		Dec 31, 2015		Dec 31, 2014		Dec 31, 2013		Dec 31, 2012		Dec 31, 2011
	Cash and cash equivalents
	Receivables, net of allowance
	Inventories
	Drilling advances
	Assets held for sale
	Deferred tax asset
	Prepaid assets and other
	Current assets
	Property and equipment, less accumulated depreciation, depletion, and amortization
	Goodwill
	Deferred charges and other
	Other assets
	Noncurrent assets
	Total assets

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).

The analyzed financial data reveals several notable trends in asset composition and valuation over the period from the end of 2011 to the end of 2015.

Liquidity Position: Cash and cash equivalents exhibited significant volatility. After a decline from 295 million US dollars at the end of 2011 to 160 million in 2012, a sharp increase occurred in 2013, reaching 1,906 million. This was followed by a decline in 2014 to 769 million, and a subsequent rise again in 2015 to 1,467 million. This fluctuation suggests variability in the company’s cash management or liquidity needs over the years.
Receivables and Inventories: Receivables, net of allowance, showed a declining trend from 3,079 million in 2011 to 1,253 million in 2015, with a notably steep decrease between 2013 and 2015. This may indicate either improved collection processes, reduced sales on credit, or a contraction in operations. Inventories also decreased over the same period, from 655 million to 570 million, with a peak in 2012 at 908 million. This reduction could reflect better inventory management or a scaling back of operational activity.
Drilling Advances and Deferred Tax Assets: Drilling advances showed inconsistency, peaking at 584 million in 2012 before declining steadily to 172 million by 2015. This illustrates fluctuating advance payments for drilling services or projects, possibly linked to operational scaling or changes in project timing. Deferred tax assets appeared only starting in 2013 at 134 million, rising substantially to 769 million in 2014, before becoming zero in 2015, indicating possible tax strategy alterations or recognition issues.
Prepaid Assets and Other Current Assets: Prepaid assets and other current assets decreased from 545 million in 2011 to a low of 112 million in 2013, then moderately increased to 290 million in 2015. This reflects fluctuations in prepayments or other short-term assets, possibly connected to operational cycles or contract structures.
Current Assets and Assets Held for Sale: Current assets increased steadily from 4,803 million in 2011 to a peak of 6,415 million in 2014, then dropped sharply to 3,752 million in 2015. The introduction of assets held for sale, recorded at 1,628 million in 2014, suggests that some current assets were classified for divestiture or reclassification, which impacts the total current assets figure.
Property and Equipment: Property and equipment, net of accumulated depreciation, dropped markedly from 45,448 million in 2011 to 14,119 million in 2015. The steady decrease, notably sharp after 2014, implies significant asset disposals, impairments, or reclassifications, affecting the core fixed asset base substantially.
Goodwill: Goodwill remained relatively stable around 1,100 to 1,300 million between 2011 and 2013, but sharply declined to 87 million in 2014 and sustained this low level in 2015. This indicates a considerable impairment, disposal, or write-down of goodwill, highlighting adjustments in the valuation of acquired intangible assets.
Deferred Charges and Other Noncurrent Assets: Deferred charges and other noncurrent assets increased from 686 million in 2011 to 1,481 million in 2013, followed by a decline to 884 million in 2015. Similarly, other noncurrent assets peaked in 2013 at 2,850 million before falling to 971 million in 2015. These variations suggest changing noncurrent asset recognition, amortization, or divestment activities.
Noncurrent Assets and Total Assets: Noncurrent assets rose from 47,248 million in 2011 to 55,775 million in 2012 and remained relatively stable until 2013, before falling to 15,090 million by 2015. This sharp reduction corresponds with trends seen in property and equipment and goodwill, indicating extensive asset base reduction. Consequently, total assets peaked in 2013 at 61,637 million, then declined sharply to 18,842 million by 2015, reflecting overall downsizing or asset sales.

Assets: Selected Items

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Current Assets: Selected Items