Balance Sheet: Assets
Quarterly Data

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

US$ in millions

	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash and cash equivalents	7,725)	4,061)	4,638)	6,781)	4,699)	4,008)	6,278)	8,178)	5,797)	9,292)	15,668)	17,678)	15,164)	12,029)	11,671)	5,640)	5,998)	7,527)	7,076)	5,596)	6,866)	6,855)	8,492)
Time deposits	2)	5)	5)	4)	4)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Marketable securities	—)	—)	—)	—)	—)	—)	—)	45)	141)	318)	130)	223)	267)	341)	33)	35)	34)	34)	32)	31)	28)	59)	50)
Accounts and notes receivable, less allowance	17,887)	17,663)	19,560)	20,684)	19,591)	20,752)	20,414)	19,921)	21,993)	19,285)	19,021)	20,456)	22,466)	26,860)	23,255)	18,419)	16,567)	15,705)	14,118)	11,471)	9,722)	8,570)	10,167)
Crude oil and products	7,416)	6,275)	6,600)	6,490)	6,767)	7,662)	7,212)	6,059)	6,665)	6,398)	6,268)	5,866)	6,917)	5,671)	4,467)	4,248)	3,937)	4,093)	3,535)	3,576)	3,588)	3,327)	4,425)
Chemicals	509)	517)	471)	502)	479)	426)	411)	406)	455)	516)	553)	515)	668)	616)	547)	565)	621)	556)	448)	457)	409)	485)	494)
Materials, supplies and other	2,511)	2,021)	2,096)	2,082)	2,479)	2,389)	2,319)	2,147)	2,308)	2,284)	2,411)	1,866)	1,417)	1,428)	1,511)	1,492)	1,571)	1,590)	1,637)	1,643)	1,684)	1,699)	1,655)
Inventories	10,436)	8,813)	9,167)	9,074)	9,725)	10,477)	9,942)	8,612)	9,428)	9,198)	9,232)	8,247)	9,002)	7,715)	6,525)	6,305)	6,129)	6,239)	5,620)	5,676)	5,681)	5,511)	6,574)
Prepaid expenses and other current assets	4,816)	4,149)	5,204)	4,368)	4,168)	4,132)	3,874)	4,372)	4,373)	4,697)	4,300)	3,739)	4,604)	4,243)	3,225)	3,339)	3,409)	3,468)	3,587)	3,304)	2,506)	2,737)	3,279)
Current assets	40,866)	34,691)	38,574)	40,911)	38,187)	39,369)	40,508)	41,128)	41,732)	42,790)	48,351)	50,343)	51,503)	51,188)	44,709)	33,738)	32,137)	32,973)	30,433)	26,078)	24,803)	23,732)	28,562)
Long-term receivables, less allowance	987)	914)	942)	877)	942)	974)	968)	942)	1,055)	940)	1,036)	1,069)	1,099)	649)	516)	603)	644)	566)	571)	589)	780)	812)	1,243)
Investments and advances	44,398)	48,033)	49,150)	47,438)	47,476)	47,654)	47,650)	46,812)	48,123)	46,769)	46,248)	45,238)	45,154)	43,557)	41,732)	40,696)	41,097)	40,551)	39,591)	39,052)	37,655)	37,290)	39,693)
Properties, plant and equipment, at cost	429,269)	352,035)	348,820)	345,933)	343,450)	349,859)	350,501)	346,081)	342,522)	327,084)	330,409)	327,785)	325,102)	322,541)	335,340)	336,045)	328,572)	342,157)	346,228)	345,232)	325,131)	323,522)	326,412)
Accumulated depreciation, depletion and amortization	(209,775)	(204,593)	(200,696)	(198,134)	(195,559)	(196,856)	(196,860)	(192,462)	(188,550)	(184,316)	(187,458)	(184,194)	(180,958)	(178,131)	(190,896)	(189,084)	(180,627)	(190,949)	(192,225)	(188,614)	(182,748)	(179,672)	(177,192)
Properties, plant and equipment, net	219,494)	147,442)	148,124)	147,799)	147,891)	153,003)	153,641)	153,619)	153,972)	142,768)	142,951)	143,591)	144,144)	144,410)	144,444)	146,961)	147,945)	151,208)	154,003)	156,618)	142,383)	143,850)	149,220)
Deferred charges and other assets	16,162)	15,144)	15,011)	14,854)	14,039)	13,913)	13,582)	13,734)	13,672)	12,820)	12,146)	12,310)	12,748)	12,647)	12,502)	12,384)	11,743)	11,744)	11,530)	11,950)	11,227)	11,511)	10,516)
Goodwill	4,568)	4,568)	4,568)	4,578)	4,722)	4,722)	4,722)	4,722)	4,722)	4,722)	4,722)	4,722)	4,663)	4,663)	4,374)	4,385)	4,402)	4,402)	4,402)	4,402)	4,416)	4,416)	4,454)
Assets held for sale	26)	28)	28)	481)	5,975)	1,009)	580)	675)	651)	970)	432)	436)	424)	822)	771)	768)	1,980)	1,362)	1,115)	1,101)	1,799)	1,792)	2,989)
Noncurrent assets	285,635)	216,129)	217,823)	216,027)	221,045)	221,275)	221,143)	220,504)	222,195)	208,989)	207,535)	207,366)	208,232)	206,748)	204,339)	205,797)	207,811)	209,833)	211,212)	213,712)	198,260)	199,671)	208,115)
Total assets	326,501)	250,820)	256,397)	256,938)	259,232)	260,644)	261,651)	261,632)	263,927)	251,779)	255,886)	257,709)	259,735)	257,936)	249,048)	239,535)	239,948)	242,806)	241,645)	239,790)	223,063)	223,403)	236,677)

Cash and Cash Equivalents

There is notable volatility in cash and cash equivalents over the periods. After an initial decline in 2020, the value surged significantly through 2021 and 2022, peaking near the end of 2022. However, in 2023, there was a sharp decrease, with the lowest values recorded mid-year, followed by a moderate recovery towards early 2024. The values demonstrate a cyclical pattern with pronounced fluctuations in recent years.

Time Deposits

Data on time deposits is minimal, only showing very small amounts from late 2024 onwards, suggesting a negligible role in the overall liquidity composition.

Marketable Securities

The amount held in marketable securities remained relatively low and stable until mid-2021, followed by a sharp increase during 2022, with values exceeding 300 million USD before decreasing again in 2023 and becoming negligible by late 2024. This suggests a temporary strategy involving liquid investments that was later reversed or wound down.

Accounts and Notes Receivable, Less Allowance

There is a clear upward trend in receivables from 2020 through 2021, indicating increased sales or outstanding customer balances. Values peaked in mid-2022 and then declined throughout 2023 with some fluctuations, maintaining a generally elevated level relative to 2020. This reflects growth in credit extended to customers with some volatility towards the recent periods.

Inventories (Crude Oil and Products, Chemicals, Materials, Supplies and Other)

Crude Oil and Products: Inventory levels increased gradually from 2020 into late 2022, with some fluctuations but maintaining an overall upward trajectory, suggesting accumulation or stockpiling of petroleum products. Slight volatility exists in 2023 with rebounds in early 2024.
Chemicals: Chemicals inventory remains relatively stable with minor fluctuations around the 400-600 million USD range, indicating consistent management without large swings.
Materials, Supplies and Other: There was a notable increase in these inventories starting in late 2022 and continuing through 2024, reaching higher levels than seen since 2020. This may indicate ramped-up procurement or stocking of operational materials.

Total Inventories

Total inventories followed an upward trend from 2020 up to 2022, peaking in late 2022, before experiencing mild contractions during 2023 but rebounding again in early 2024. Overall, inventory management appears to have expanded, possibly in response to market conditions or supply chain strategies.

Prepaid Expenses and Other Current Assets

Values demonstrate some fluctuations but an overall increasing trend from 2020 to early 2023, followed by volatile movement throughout 2023 and 2024. This suggests adjustments in prepaid and miscellaneous current assets that may reflect operational or contractual changes.

Total Current Assets

Current assets grew substantially from 2020 through 2022, reaching a peak towards the end of 2022 before declining somewhat in 2023 and fluctuating modestly in 2024. The trajectory aligns with changes in cash, receivables, and inventories, highlighting improvements in liquidity and working capital in recent years before a partial pullback.

Long-term Receivables, Less Allowance

Long-term receivables have remained relatively stable over the period without significant growth or decline, indicating a consistent level of long-term credit or installment arrangements.

Investments and Advances

Investment levels steadily increased from 2020 to early 2023, followed by moderate fluctuations and a slight decline approaching 2025. This suggests ongoing but controlled growth in strategic holdings or financing activities.

Properties, Plant and Equipment (PPE)

At Cost: PPE at cost showed a steady increase from 2020 into 2021, some declines through 2022, and a significant jump in late 2025. This could represent major capital expenditure or asset revaluation towards the end of the period.
Accumulated Depreciation, Depletion and Amortization: Accumulated depreciation increases steadily overall, reflecting aging assets and ongoing wear. Some variations exist but the trend indicates consistent asset usage and amortization.
Net PPE: Net PPE decreased from 2020 to early 2023, reflecting depreciation outpacing additions, but then rose significantly by late 2025, aligning with the increased cost values. This denotes new investments or asset capitalization balancing past depreciation effects.
Deferred Charges and Other Assets: These assets showed moderate increases over time with minor fluctuations. The trend suggests stable scheduling of deferred costs and holdings of miscellaneous assets supporting operations.
Goodwill: Goodwill values have been stable, with minor decreases in late periods, indicating minimal acquisition activity or potential impairments.
Assets Held for Sale: This category fluctuated substantially, initially declining from 2020 to early 2021, with sporadic increases in some periods, reaching a significant peak in early 2024 before falling sharply again. This pattern indicates episodic plans to divest assets followed by actions or cancellations.
Noncurrent Assets: Noncurrent assets have remained broadly stable with minor growth and declines across the timeline. The modest variations suggest controlled capital structure and asset base maintenance.
Total Assets: Total assets showed an overall increase from 2020 through 2022, peaking in late 2022, followed by slight declines in 2023 and early 2024. A notable rise appears again towards the end of the period driven by the surge in PPE cost. This trend mirrors the firm's investment patterns and changes in current assets.

Assets: Selected Items

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Current Assets: Selected Items

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Chevron Corp. (NYSE:CVX)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data