Chevron Corp. (NYSE:CVX)

Balance Sheet: Assets

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.

Chevron Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Cash and cash equivalents	5,686	9,342	4,813	6,988	11,022
Time deposits	—	950	—	—	—
Marketable securities	63	53	9	13	310
Accounts and notes receivable, less allowance	13,325	15,050	15,353	14,092	12,860
Inventories	5,848	5,704	5,585	5,419	6,334
Prepaid expenses and other current assets	3,407	2,922	2,800	3,107	4,821
Current assets	28,329	34,021	28,560	29,619	35,347
Long-term receivables, net	1,511	1,942	2,849	2,485	2,412
Investments and advances, equity method	38,402	35,261	32,105	29,789	26,578
Other non-equity method investments	286	285	392	461	532
Investments and advances	38,688	35,546	32,497	30,250	27,110
Properties, plant and equipment, net	150,494	169,207	177,712	182,186	188,396
Deferred charges and other assets	10,532	6,766	7,017	6,838	6,801
Goodwill	4,463	4,518	4,531	4,581	4,588
Assets held for sale	3,411	1,863	640	4,119	1,449
Noncurrent assets	209,099	219,842	225,246	230,459	230,756
Total assets	237,428	253,863	253,806	260,078	266,103

Based on: 10-K (filing date: 2020-02-21), 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25).

Assets: Selected Items

Balance sheet item	Description	The company
Current assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Chevron Corp.’s current assets increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Properties, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Chevron Corp.’s properties, plant and equipment, net decreased from 2017 to 2018 and from 2018 to 2019.
Noncurrent assets	Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.	Chevron Corp.’s noncurrent assets decreased from 2017 to 2018 and from 2018 to 2019.
Total assets	Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.	Chevron Corp.’s total assets increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.

Current Assets: Selected Items

Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Chevron Corp.’s cash and cash equivalents increased from 2017 to 2018 but then slightly decreased from 2018 to 2019 not reaching 2017 level.
Marketable securities	Amount of investment in marketable security, classified as current.	Chevron Corp.’s marketable securities increased from 2017 to 2018 and from 2018 to 2019.
Accounts and notes receivable, less allowance	The aggregate of amounts due from customers or clients, within one year of the balance sheet date (or one operating cycle, if longer), for goods or services that have been delivered or sold in the normal course of business and an amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date within one year of the balance sheet, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection and net of any write-downs taken for collection uncertainty on the part of the holder, respectively.	Chevron Corp.’s accounts and notes receivable, less allowance decreased from 2017 to 2018 and from 2018 to 2019.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	Chevron Corp.’s inventories increased from 2017 to 2018 and from 2018 to 2019.