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Chevron Corp. (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

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Cash and cash equivalents 9,342  4,813  6,988  11,022  12,785 
Time deposits 950  —  —  — 
Marketable securities 53  13  310  422 
Accounts and notes receivable, less allowance 15,050  15,353  14,092  12,860  16,736 
Inventories 5,704  5,585  5,419  6,334  6,505 
Prepaid expenses and other current assets 2,922  2,800  3,107  4,821  5,776 
Current assets 34,021  28,560  29,619  35,347  42,232 
Long-term receivables, net 1,942  2,849  2,485  2,412  2,817 
Investments in companies accounted for using the equity method 34,893  31,786  29,346  26,004  25,719 
Advances to companies accounted for using the equity method 368  319  443  574  616 
Other investments accounted for at or below cost 285  392  461  532  577 
Investments and advances 35,546  32,497  30,250  27,110  26,912 
Properties, plant and equipment, net 169,207  177,712  182,186  188,396  183,173 
Deferred charges and other assets 6,766  7,017  6,838  6,801  6,299 
Goodwill 4,518  4,531  4,581  4,588  4,593 
Assets held for sale 1,863  640  4,119  1,449  — 
Noncurrent assets 219,842  225,246  230,459  230,756  223,794 
Total assets 253,863  253,806  260,078  266,103  266,026 

Based on: 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), 10-K (filing date: 2015-02-20).


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 decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
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 2016 to 2017 and from 2017 to 2018.
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 2016 to 2017 and from 2017 to 2018.
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 decreased from 2016 to 2017 but then slightly increased from 2017 to 2018.

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 decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
Marketable securities Amount of investment in marketable security, classified as current. Chevron Corp.’s marketable securities decreased from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
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 increased from 2016 to 2017 but then slightly decreased from 2017 to 2018.
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 2016 to 2017 and from 2017 to 2018.