Chevron Corp. (CVX)

Statement of Financial Position, Assets Quarterly Data

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 (quarterly data)

USD $ in millions

	Mar 31, 2018	Dec 31, 2017	Sep 30, 2017	Jun 30, 2017	Mar 31, 2017	Dec 31, 2016	Sep 30, 2016	Jun 30, 2016	Mar 31, 2016	Dec 31, 2015	Sep 30, 2015	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014	Jun 30, 2014	Mar 31, 2014	Dec 31, 2013	Sep 30, 2013	Jun 30, 2013	Mar 31, 2013
Cash and cash equivalents	6,466	4,813	6,641	4,762	6,983	6,988	7,351	8,764	8,562	11,022	12,933	12,156	12,675	12,785	14,215	13,959	15,612	16,245	17,014	20,630	17,374
Time deposits	–	–	–	–	–	–	–	–	–	–	–	–	–	8	8	8	308	8	1,308	1,408	1,408
Marketable securities	38	9	13	13	11	13	321	320	317	310	306	365	432	422	267	268	263	263	258	258	266
Accounts and notes receivable, net	15,771	15,353	14,124	13,168	13,754	14,092	12,522	13,490	12,459	12,860	14,240	16,153	15,239	16,736	19,974	21,578	20,285	21,622	21,641	20,273	21,969
Crude oil and petroleum products	3,705	3,142	3,156	3,461	3,315	2,720	3,231	3,680	3,723	3,535	4,048	4,317	4,157	3,854	4,672	4,606	4,956	3,879	4,468	5,063	4,384
Chemicals	475	476	516	472	437	455	440	431	449	490	439	454	459	467	501	479	452	491	503	467	477
Materials, supplies and other	1,948	1,967	2,089	2,142	2,169	2,244	2,305	2,316	2,336	2,309	2,377	2,345	2,221	2,184	2,131	2,130	2,064	2,010	1,922	1,893	1,803
Inventories	6,128	5,585	5,761	6,075	5,921	5,419	5,976	6,427	6,508	6,334	6,864	7,116	6,837	6,505	7,304	7,215	7,472	6,380	6,893	7,423	6,664
Prepaid expenses and other current assets	3,323	2,800	2,859	2,608	2,899	3,107	2,703	3,470	3,867	4,821	5,476	4,948	6,087	5,776	5,315	5,892	5,809	5,732	6,389	6,112	7,015
Current assets	31,726	28,560	29,398	26,626	29,568	29,619	28,873	32,471	31,713	35,347	39,819	40,738	41,270	42,232	47,083	48,920	49,749	50,250	53,503	56,104	54,696
Long-term receivables, net	2,723	2,849	3,016	2,403	2,457	2,485	2,444	2,469	2,492	2,412	2,436	2,880	2,820	2,817	2,903	3,034	2,875	2,833	3,118	3,017	3,121
Investments and advances	33,470	32,497	32,402	31,706	30,915	30,250	30,002	27,740	27,510	27,110	26,710	26,206	28,238	26,912	26,683	25,923	25,986	25,502	25,010	25,133	24,504
Properties, plant and equipment, at cost	344,977	344,485	343,066	337,551	336,150	336,077	341,066	339,081	344,895	340,277	340,558	336,619	333,824	327,289	318,752	312,922	304,564	296,433	287,550	279,025	271,239
Accumulated depreciation, depletion and amortization	(169,131)	(166,773)	(164,630)	(159,375)	(155,854)	(153,891)	(157,627)	(154,396)	(154,955)	(151,881)	(153,153)	(151,352)	(147,701)	(144,116)	(140,656)	(138,868)	(135,337)	(131,604)	(130,618)	(128,433)	(125,266)
Properties, plant and equipment, net	175,846	177,712	178,436	178,176	180,296	182,186	183,439	184,685	189,940	188,396	187,405	185,267	186,123	183,173	178,096	174,054	169,227	164,829	156,932	150,592	145,973
Deferred charges and other assets	6,946	7,017	6,793	7,352	6,980	6,838	6,631	6,316	6,514	6,801	6,593	6,389	6,565	6,299	5,844	5,493	5,118	5,120	4,635	4,562	4,476
Goodwill	4,531	4,531	4,531	4,543	4,543	4,581	4,581	4,581	4,588	4,588	4,588	4,588	4,588	4,593	4,621	4,621	4,639	4,639	4,640	4,640	4,640
Assets held for sale	1,200	640	584	3,793	4,352	4,119	3,893	3,216	1,085	1,449	898	387	–	–	201	–	644	580	–	–	–
Noncurrent assets	224,716	225,246	225,762	227,973	229,543	230,459	230,990	229,007	232,129	230,756	228,630	225,717	228,334	223,794	218,348	213,125	208,489	203,503	194,335	187,944	182,714
Total assets	256,442	253,806	255,160	254,599	259,111	260,078	259,863	261,478	263,842	266,103	268,449	266,455	269,604	266,026	265,431	262,045	258,238	253,753	247,838	244,048	237,410

Source: Chevron Corp., Quarterly and Annual Reports

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 Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 not reaching Q3 2017 level.
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 Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 exceeding Q3 2017 level.
Accounts and notes receivable, net	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, net increased from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 2018.
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 Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 exceeding Q3 2017 level.
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 Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 exceeding Q3 2017 level.
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 Q3 2017 to Q4 2017 and from Q4 2017 to Q1 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 declined from Q3 2017 to Q4 2017 and from Q4 2017 to Q1 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 declined from Q3 2017 to Q4 2017 but then increased from Q4 2017 to Q1 2018 exceeding Q3 2017 level.

Top