Statement of Financial Position, Assets
Difficulty: Beginner
The statement of financial position 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 Statement of Financial Position, Assets
USD $ in millions
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | 4,813 | 6,988 | 11,022 | 12,785 | 16,245 | ||||||
| Time deposits | – | – | – | 8 | 8 | ||||||
| Marketable securities | 9 | 13 | 310 | 422 | 263 | ||||||
| Accounts and notes receivable, less allowance | 15,353 | 14,092 | 12,860 | 16,736 | 21,622 | ||||||
| Inventories | 5,585 | 5,419 | 6,334 | 6,505 | 6,380 | ||||||
| Prepaid expenses and other current assets | 2,800 | 3,107 | 4,821 | 5,776 | 5,732 | ||||||
| Current assets | 28,560 | 29,619 | 35,347 | 42,232 | 50,250 | ||||||
| Long-term receivables, net | 2,849 | 2,485 | 2,412 | 2,817 | 2,833 | ||||||
| Investments in companies accounted for using the equity method | 31,786 | 29,346 | 26,004 | 25,719 | 24,069 | ||||||
| Advances to companies accounted for using the equity method | 319 | 443 | 574 | 616 | 809 | ||||||
| Other investments accounted for at or below cost | 392 | 461 | 532 | 577 | 624 | ||||||
| Investments and advances | 32,497 | 30,250 | 27,110 | 26,912 | 25,502 | ||||||
| Properties, plant and equipment, net | 177,712 | 182,186 | 188,396 | 183,173 | 164,829 | ||||||
| Deferred charges and other assets | 7,017 | 6,838 | 6,801 | 6,299 | 5,120 | ||||||
| Goodwill | 4,531 | 4,581 | 4,588 | 4,593 | 4,639 | ||||||
| Assets held for sale | 640 | 4,119 | 1,449 | – | 580 | ||||||
| Noncurrent assets | 225,246 | 230,459 | 230,756 | 223,794 | 203,503 | ||||||
| Total assets | 253,806 | 260,078 | 266,103 | 266,026 | 253,753 |
Based on: 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), 10-K (filing date: 2014-02-21).
| Item | Description | The company |
|---|---|---|
| Cash and cash equivalents | Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. | Chevron Corp.'s cash and cash equivalents declined from 2015 to 2016 and from 2016 to 2017. |
| Marketable securities | Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale which are intended to be held for less than one year or the normal operating cycle, whichever is longer. | Chevron Corp.'s marketable securities declined from 2015 to 2016 and from 2016 to 2017. |
| Accounts and notes receivable, less allowance | Carrying amount as of the balance sheet date, net of allowance for doubtful accounts, of account and note receivables due from other than related parties. | Chevron Corp.'s accounts and notes receivable, less allowance increased from 2015 to 2016 and from 2016 to 2017. |
| Inventories | Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). | Chevron Corp.'s inventories declined from 2015 to 2016 but then slightly increased from 2016 to 2017. |
| 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 declined from 2015 to 2016 and from 2016 to 2017. |
| Properties, plant and equipment, net | Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. | Chevron Corp.'s properties, plant and equipment, net declined from 2015 to 2016 and from 2016 to 2017. |
| 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 declined from 2015 to 2016 and from 2016 to 2017. |
| 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 declined from 2015 to 2016 and from 2016 to 2017. |