Chevron Corp. (NYSE:CVX)

The financial data reveals several notable trends in asset composition and valuation over the five-year period from 2020 to 2024. Overall, total assets demonstrated a growth pattern from 239,790 million US dollars at the end of 2020 to a peak of 261,632 million in 2023, before slightly declining to 256,938 million in 2024. This indicates an overall expansion in asset base followed by a modest contraction in the final year reported.

Cash and Cash Equivalents

The cash and cash equivalents balance saw a significant increase from 5,596 million in 2020 to 17,678 million in 2022, marking a more than threefold rise. However, this was followed by a sharp decline to 6,781 million by the end of 2024, suggesting substantial liquidity fluctuations during this timeframe, possibly related to operational cash flow dynamics or investment activities.

Time Deposits

Time deposits were not reported until 2024, where a minimal amount of 4 million is recorded, indicating either the initiation of investments in short-term deposits or a new classification item in financial reporting.

Marketable Securities

Marketable securities increased from 31 million in 2020 to 223 million in 2022, then decreased to 45 million in 2023 and were unreported in 2024. This volatility could reflect changes in portfolio allocation or asset sales within marketable securities.

Accounts and Notes Receivable

Receivables displayed a consistent growth trend, rising from 11,471 million in 2020 to 20,684 million by 2024. This steady increase points toward growth in sales or credit extended to customers.

Inventories

Inventories grew steadily throughout the period, increasing from 5,676 million to 9,074 million. The expanding inventory balance may indicate higher production levels, anticipated greater demand, or stockpiling strategies.

Prepaid Expenses and Other Current Assets

These assets increased modestly from 3,304 million in 2020 to approximately 4,368 million in 2024, suggesting relatively stable management of prepaid expenses and other current asset accounts.

Current Assets

Current assets increased from 26,078 million in 2020 to a peak of 50,343 million in 2022, followed by a decline to around 40,911 million in 2024. This pattern mirrors the fluctuations observed in cash and equivalents, marketable securities, and receivables, indicating shifts in near-term liquidity and working capital components.

Long-term Receivables, Net

Long-term receivables increased from 589 million in 2020 to a peak of 1,069 million in 2022 but decreased thereafter to 877 million in 2024. The initial rise followed by decline suggests adjustments in long-term financing or collection patterns.

Investments and Advances

Investments classified under equity method and other non-equity method investments demonstrated a steady increase from 38,756 million (equity method) and 296 million (non-equity) in 2020 to 46,618 million and 820 million, respectively, by 2024. This indicates ongoing investment growth and possibly strategic acquisitions.

Properties, Plant, and Equipment, Net

The net book value of properties, plant, and equipment declined from 156,618 million in 2020 to 143,591 million in 2022, then increased to 153,619 million in 2023 before falling again to 147,799 million in 2024. These fluctuations may reflect asset disposals, depreciation charges, and capital expenditure variations.

Deferred Charges and Other Assets

These assets rose slightly from 11,950 million in 2020 to 14,854 million in 2024, implying stable or modestly increasing deferred expenses or similar asset categories.

Goodwill

Goodwill values remained relatively stable, fluctuating narrowly between 4,402 million and 4,722 million over the period, indicating limited new acquisitions or impairments impacting this intangible asset class.

Assets Held for Sale

Assets held for sale fell from 1,101 million in 2020 to 481 million in 2024, with some variability in intermediate years. This suggests the gradual disposal of non-core assets over the period.

Noncurrent Assets

Noncurrent assets experienced minor growth, moving from 213,712 million in 2020 to a peak of 220,504 million in 2023 followed by a slight decrease to 216,027 million in 2024, consistent with the trends observed in long-term investments and property assets.

In summary, the data reflect an expansionary phase up to 2022-2023 marked by growth in total, current, and noncurrent assets. This includes increased receivables, inventories, and investments, coupled with significant variability in cash and cash equivalents. The subsequent declines in selected asset categories by 2024 suggest a period of consolidation or asset reallocation. Stability in goodwill and gradual reduction in assets held for sale point to limited acquisition activity and ongoing divestitures, respectively. The fluctuations in properties, plant, and equipment imply active asset management involving both disposals and capital investments.