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.
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Chevron Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2005
- Analysis of Revenues
- Aggregate Accruals
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Chevron Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The analysis of the quarterly financial data reveals several notable trends across various asset categories over the indicated periods.
- Liquidity Position
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Cash and cash equivalents show a fluctuating trend with a significant increase starting from March 2022, reaching a peak in December 2022 before a decline in 2023. This volatility suggests changing liquidity needs or cash management strategies across quarters. Time deposits appear negligible, indicating minimal placement in such instruments. Marketable securities exhibited an unusual spike during mid-2022 but returned to lower levels thereafter, reflecting possible short-term investment activities.
- Receivables and Inventories
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Accounts and notes receivable show an upward trend until mid-2022, peaking in June, followed by a gentle decline and stabilization, indicating improving credit sales or collection processes during early periods with some easing later. Inventories gradually increased from 2020 through 2023, with a peak around September 2023, then slightly decreased, implying increased stock levels potentially due to supply chain adjustments or strategic stockpiling. Chemicals inventory exhibits moderate fluctuations but remains relatively stable over the period.
- Asset Composition
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Properties, plant and equipment (PPE), valued at cost, generally show an increasing trend with some dips, especially notable in the mid-2020 periods and mid-2023, suggesting ongoing capital expenditures with occasional asset retirements or revaluations. Accumulated depreciation trends are consistently increasing in absolute terms, reflecting the aging of fixed assets and ongoing amortization processes. However, net PPE remains relatively stable with slight growth in the latter part of the period, indicating steady asset base retention with periodic investments.
- Other Current and Noncurrent Assets
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Prepaid expenses and other current assets tend to increase over the period until mid-2023, with occasional dips, suggesting variable advance payments and other current asset management changes. Deferred charges and other assets remain fairly stable with a slight upward trajectory, reflecting ongoing capitalization of deferred costs or other intangible components.
- Goodwill and Assets Held for Sale
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Goodwill remains largely stable with minor declines towards the end of the period, consistent with limited impairment or business disposition activity. Assets held for sale show irregular variances, with a marked increase in early 2024 followed by sharp reductions, indicating episodic asset divestitures or reclassification events.
- Total and Current Assets
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Total assets exhibited an overall upward trend from 2020 through late 2022, reaching a peak around September 2022, with a gradual decline thereafter into 2025. Current assets followed a similar pattern with significant growth until late 2022, then a downturn through 2023 and early 2024, suggestive of dynamic short-term asset management possibly linked to operational cycles or market conditions.
In summary, the financial data reflects a company actively managing its liquidity, inventory, receivables, and fixed assets, with particular attention to cash holdings and inventory accumulation in certain periods. There is evidence of strategic adjustments in asset composition, supported by steady capital investments and prudent management of noncurrent assets. Fluctuations in assets held for sale point to periodic portfolio optimization efforts, and the overall asset base demonstrates resilience with moderate shifts aligned to economic or operational factors.