Common-Size Balance Sheet: Assets
Quarterly Data
Devon Energy Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Cash, cash equivalents and restricted cash
- This category shows considerable fluctuations over the periods, with a notable peak around mid-2019 and late 2020, reaching over 22% of total assets. However, from early 2022 onwards, a declining trend is observed, dropping to as low as around 2% by mid-2023, indicating a reduction in the liquidity reserves relative to total assets.
- Accounts receivable
- Accounts receivable as a percentage of total assets remains relatively stable with slight variability. The values mostly oscillate between about 4.5% and 7.5%, with a gradual upward trend observed starting from early 2021 and peaking around early 2022 above 10%. Towards mid-2023, this value decreases moderately.
- Inventory
- Inventory data is only available starting from early 2023 and shows a small but gradually increasing proportion of total assets, from approximately 0.85% to nearly 1% by the end of 2023.
- Current assets associated with discontinued operations
- This item demonstrates sporadic presence, with a very high value at mid-2018 of nearly 37%, then largely absent except for some minor values between late 2018 and mid-2020 ranging from 0.15% to about 7%. This suggests a significant discontinuation event in mid-2018, followed by residual values in subsequent periods.
- Other current assets
- Other current assets as a portion of total assets show some volatility but generally remain below 5%. Some peaks are visible around early 2020 close to 9%, but afterwards the values decrease and stabilize around 1.5% to 2% in recent quarters, indicating a relatively small and stable share of total assets.
- Current assets
- Current assets exhibit wide fluctuations, with a remarkable peak at mid-2018 reaching about 47%, followed by a decline and various rises and falls over the periods. The highest proportions are seen during 2019 and early 2020, with values often exceeding 30%. From 2021 to mid-2023, these values moderate between roughly 11% and 27%, implying some reduction in short-term asset holdings as a share of total assets.
- Oil and gas property and equipment (successful efforts accounting, net)
- This important asset category shows a fluctuating but generally high presence, ranging from about 42% to over 74% of total assets. Peaks above 70% appear in periods such as early 2019, mid-2021, and extending through 2023, indicating a strong emphasis on core asset investment. Lower values occur mostly around 2018 to early 2020.
- Other property and equipment, net
- This asset component remains relatively stable, mostly in a narrow range between approximately 3.9% and 9.8%, with slight increases during 2020. The share decreases somewhat in the most recent periods, indicating a small decline in non-core property assets.
- Property and equipment, net (total)
- Aggregating the property and equipment accounts, a broad trend emerges showing elevated levels representing between roughly 48% to over 80% of total assets. Particularly high percentages cluster during 2018, 2021, and persist strongly through 2023, underscoring the significant asset base tied to property and equipment for the company.
- Goodwill
- Goodwill relative to total assets is variable, generally ranging from near 2.9% to about 8.1%. Higher values appear in early periods (2018) and again increase in 2020 before stabilizing closer to 3% in later periods. This suggests some acquisition-related intangible assets but no consistent upward trend.
- Right-of-use assets
- Available from 2019, right-of-use assets represent a modest share of total assets around 1% to 2.3%, with a slight downward trend after early 2020 toward approximately 1% in recent quarters, indicating limited but persistent lease-related assets.
- Investments
- Investments are minor but generally increasing steadily, rising from below 0.2% in earlier periods where available, to nearly 3% by late 2023. This upward movement implies growing allocations to investment assets over time.
- Other long-term assets
- This category shows a slight declining trend, starting from above 6% in early 2018 (though data is somewhat inconsistent), then leveling off around 1% to 2.2% in later periods, reflecting a decrease in miscellaneous long-term asset holdings.
- Long-term assets associated with discontinued operations
- These assets are present at low levels (less than 1%) sporadically between mid-2019 and late 2020, indicating some residual long-term holdings from discontinued operations, but are absent thereafter.
- Long-term assets (total)
- Long-term assets constitute a dominant portion of total assets, fluctuating between about 52% and nearly 89%. High values coincide with periods of lower current assets, notably in 2018, 2021, and extending through 2023. This dominance reflects the capital-intensive nature of the asset structure, with sustained investment in long-term holdings.
- Total assets
- All percentages are relative to total assets, confirming proportional relationships within the asset composition over time.