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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
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. |