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.

ConocoPhillips, consolidated balance sheet: assets (quarterly data)

US$ in millions

	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	4,901)	6,309)	5,607)	5,221)	4,294)	5,574)	5,635)	8,830)	5,735)	6,974)	6,458)	8,010)	6,909)	6,414)	5,028)	9,833)	6,608)	2,831)	2,991)	2,490)	2,907)	3,908)
Short-term investments	439)	926)	507)	1,571)	1,723)	487)	971)	616)	1,080)	1,635)	2,785)	2,412)	1,272)	730)	446)	678)	2,251)	4,104)	3,609)	4,032)	3,985)	3,866)
Accounts and notes receivable, net of allowance	5,701)	6,400)	6,695)	4,815)	5,307)	5,458)	5,474)	5,671)	4,531)	5,296)	7,088)	7,354)	8,153)	7,879)	6,670)	5,465)	4,524)	4,481)	2,754)	2,119)	1,532)	2,264)
Investment in Cenovus Energy	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,117)	1,416)	1,802)	1,564)	1,256)	809)	971)	420)
Inventories	1,897)	1,844)	1,809)	1,496)	1,447)	1,443)	1,398)	1,326)	1,236)	1,258)	1,219)	1,226)	1,234)	1,174)	1,208)	1,043)	1,138)	1,098)	1,002)	1,034)	982)	726)
Prepaid expenses and other current assets	1,001)	1,427)	1,029)	881)	963)	759)	852)	738)	919)	953)	1,199)	1,451)	1,292)	1,389)	1,581)	1,746)	849)	536)	454)	575)	676)	1,960)
Current assets	13,939)	16,906)	15,647)	13,984)	13,734)	13,721)	14,330)	17,181)	13,501)	16,116)	18,749)	20,453)	18,860)	17,586)	16,050)	20,181)	17,172)	14,614)	12,066)	11,059)	11,053)	13,144)
Investments and long-term receivables	10,361)	10,008)	9,869)	9,192)	9,304)	9,132)	9,130)	8,731)	8,618)	8,197)	8,225)	8,204)	8,203)	8,309)	7,113)	8,058)	8,013)	8,286)	8,017)	8,295)	8,334)	8,707)
Loans and advances, related parties	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	59)	59)	114)	114)	167)	167)
Net properties, plants and equipment, net of accumulated DD&A	95,242)	94,316)	94,356)	70,725)	70,226)	69,907)	70,044)	65,561)	65,452)	65,090)	64,866)	63,673)	64,008)	64,642)	64,911)	56,689)	57,717)	58,270)	39,893)	41,269)	41,120)	40,645)
Other assets	3,057)	3,024)	2,908)	2,798)	2,730)	2,588)	2,420)	2,178)	2,034)	2,038)	1,989)	2,507)	2,622)	2,771)	2,587)	2,376)	2,442)	2,464)	2,528)	2,420)	2,372)	2,370)
Noncurrent assets	108,660)	107,348)	107,133)	82,715)	82,260)	81,627)	81,594)	76,470)	76,104)	75,325)	75,080)	74,384)	74,833)	75,722)	74,611)	67,123)	68,231)	69,079)	50,552)	52,098)	51,993)	51,889)
Total assets	122,599)	124,254)	122,780)	96,699)	95,994)	95,348)	95,924)	93,651)	89,605)	91,441)	93,829)	94,837)	93,693)	93,308)	90,661)	87,304)	85,403)	83,693)	62,618)	63,157)	63,046)	65,033)

Over the examined period, several key trends emerge from the financial data.

Cash and Cash Equivalents: This category fluctuates considerably, with notable peaks in June and September 2021, reaching as high as 9,833 million US dollars. Following this peak, the balance decreased through 2022 and early 2023 but then rose sharply again in the third quarter of 2023 to 8,830 million US dollars. The figure then generally declines towards the end of the period, ending at 4,901 million US dollars by June 2025.
Short-term Investments: These assets show a declining trend from early 2021, decreasing significantly from 4,104 million US dollars in March 2021 to as low as 439 million US dollars by June 2025. The reduction is fairly steady, with only minor temporary increases.
Accounts and Notes Receivable, Net: Receivables demonstrate a strong upward trend from early 2020 through late 2021, increasing from 2,264 million to a peak of 8,153 million US dollars by June 2022. The values then show some volatility but mostly remain elevated compared to earlier years, ending at 5,701 million US dollars in June 2025.
Investment in Cenovus Energy: This investment shows growth from 420 million US dollars in March 2020 to a peak of 1,802 million in June 2021, followed by a decline in subsequent periods. No data is available beyond December 2021.
Inventories: Inventories steadily increase over the period, rising from 726 million US dollars in March 2020 to 1,897 million by June 2025. The progression is relatively consistent, indicating growing stockpiles or raw materials over time.
Prepaid Expenses and Other Current Assets: This category exhibits volatility, with an initial decline in the early quarters of 2020, followed by a peak in late 2021 at 1,746 million US dollars. Afterward, it declines again but rebounds somewhat in 2024 and 2025, reaching 1,427 million US dollars by June 2025.
Current Assets: Current assets rise significantly from 13,144 million US dollars in March 2020 to a peak of 20,453 million in September 2022. After this peak, current assets reduce to around 13,939 million by June 2025, indicating a contraction in liquid and short-term assets in the later periods.
Investments and Long-term Receivables: These assets remain mostly stable, fluctuating between 8,000 and 10,400 million US dollars throughout the periods. A slight increasing trend appears post-2022, ending with 10,361 million US dollars by June 2025.
Loans and Advances, Related Parties: Loans to related parties decrease and eventually disappear from the records after mid-2021, suggesting repayment or write-off.
Net Properties, Plants, and Equipment: This long-term asset base grows substantially from around 40,645 million US dollars in early 2020 to a high of 94,356 million by March 2025, reflecting significant capital expenditures or asset revaluations. The trend is consistently upward, indicating ongoing investment in physical infrastructure.
Other Assets: Other assets gradually increase over time from 2,370 million to around 3,057 million US dollars by June 2025, implying incremental growth in miscellaneous asset categories.
Noncurrent Assets: Noncurrent assets follow a similar pattern to net properties and investments, escalating from approximately 51,889 million US dollars in early 2020 to about 108,660 million in June 2025, indicating expansion in long-term asset holdings.
Total Assets: Total assets experience significant growth, nearly doubling from 65,033 million US dollars in March 2020 to a peak of 124,254 million by June 2025. The increase reflects growth across both current and noncurrent asset categories, demonstrating overall expansion of the asset base.

In summary, the data reveals a trajectory of growth characterized by expanding long-term investments and property assets, increased accounts receivable and inventories, and volatile liquidity positions. While liquid assets such as cash and short-term investments fluctuate, the overall asset base grows substantially over the analyzed period. The disappearance of related party loans suggests a cleaning of the balance sheet in that regard. These trends collectively suggest a company investing heavily in infrastructure and possibly managing working capital more intensively as it grows.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

ConocoPhillips (NYSE:COP)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data