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.

Devon Energy Corp., consolidated balance sheet: assets (quarterly data)

US$ in millions

	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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Cash, cash equivalents and restricted cash	761)	488)	887)	1,454)	1,310)	3,457)	2,625)	2,271)	2,321)	1,539)	1,878)	2,237)	1,897)	1,669)	1,727)	1,844)	1,655)	3,840)	1,327)	2,414)	3,102)	1,460)	1,424)
Accounts receivable	1,853)	1,519)	1,615)	1,767)	2,061)	2,348)	2,002)	1,543)	1,517)	1,185)	1,089)	601)	493)	515)	594)	832)	787)	842)	1,038)	885)	1,226)	1,141)	1,695)
Inventory	233)	201)	212)	201)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Current assets associated with discontinued operations	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	728)	748)	736)	896)	21)	131)	—)	197)	—)	10,764)	—)
Other current assets	365)	397)	475)	469)	638)	546)	346)	435)	389)	352)	500)	422)	359)	446)	998)	279)	383)	354)	338)	941)	429)	455)	516)
Current assets	3,212)	2,605)	3,189)	3,891)	4,009)	6,351)	4,973)	4,249)	4,227)	3,076)	3,467)	3,260)	3,477)	3,378)	4,055)	3,851)	2,846)	5,167)	2,703)	4,437)	4,757)	13,820)	3,635)
Oil and gas property and equipment, based on successful efforts accounting, net	17,563)	17,317)	16,932)	16,567)	16,258)	13,588)	13,566)	13,536)	13,613)	13,727)	13,826)	4,436)	4,553)	4,673)	4,756)	7,558)	9,122)	8,987)	12,766)	12,813)	13,056)	12,957)	13,475)
Other property and equipment, net	1,468)	1,446)	1,583)	1,539)	1,535)	1,525)	1,508)	1,472)	1,465)	1,462)	1,448)	957)	1,003)	1,013)	1,024)	1,035)	1,055)	1,050)	1,098)	1,122)	1,146)	1,164)	7,908)
Property and equipment, net	19,031)	18,763)	18,515)	18,106)	17,793)	15,113)	15,074)	15,008)	15,078)	15,189)	15,274)	5,393)	5,556)	5,686)	5,780)	8,593)	10,177)	10,037)	13,864)	13,935)	14,202)	14,121)	21,383)
Goodwill	753)	753)	753)	753)	753)	753)	753)	753)	753)	753)	753)	753)	753)	753)	753)	753)	841)	841)	841)	841)	841)	841)	2,383)
Right-of-use assets	261)	266)	219)	224)	232)	236)	229)	235)	244)	252)	255)	223)	226)	231)	237)	243)	219)	273)	365)	—)	—)	—)	—)
Investments	671)	675)	469)	440)	431)	423)	416)	402)	388)	398)	402)	12)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other long-term assets	313)	293)	275)	307)	339)	318)	333)	378)	367)	397)	306)	271)	233)	227)	245)	196)	216)	232)	304)	353)	372)	377)	1,915)
Long-term assets associated with discontinued operations	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	81)	82)	74)	81)	95)	99)	—)	—)	—)	—)	—)
Long-term assets	21,029)	20,750)	20,231)	19,830)	19,548)	16,843)	16,805)	16,776)	16,830)	16,989)	16,990)	6,652)	6,849)	6,979)	7,089)	9,866)	11,548)	11,482)	15,374)	15,129)	15,415)	15,339)	25,681)
Total assets	24,241)	23,355)	23,420)	23,721)	23,557)	23,194)	21,778)	21,025)	21,057)	20,065)	20,457)	9,912)	10,326)	10,357)	11,144)	13,717)	14,394)	16,649)	18,077)	19,566)	20,172)	29,159)	29,316)

Cash, cash equivalents and restricted cash: Cash levels exhibited significant volatility over the timeline, with a peak at $3,840 million in June 2019, followed by a notable decline by mid-2023, reaching as low as $488 million in June 2023, before a slight recovery to $761 million in September 2023.
Accounts receivable: Accounts receivable displayed a fluctuating but generally increasing trend from early 2021 through 2023, reaching a high of $2,348 million in June 2022 before declining to $1,853 million in September 2023, suggesting volatility in sales or collection periods.
Inventory: Inventories were not recorded until early 2023, showing moderate values around $200 million and a slight rise to $233 million by December 2023, indicating a recent building of stock or a change in reporting.
Current assets associated with discontinued operations: This category showed considerable values early on, peaking at $10,764 million in June 2018, but dropped sharply thereafter to lower hundreds and eventually disappeared from reporting post-2020, reflecting divestitures or closure of operations.
Other current assets: Other current assets fluctuated over the periods but did not demonstrate a clear trend, generally oscillating between $300 million and $600 million in recent years, indicating relatively stable minor current asset components.
Current assets: Current assets peaked sharply in June 2018 at $13,820 million due mainly to discontinued operations and subsequently showed a general decreasing trend until late 2020. From 2021 onwards, current assets stabilized around $3,000 to $6,300 million, reflecting asset restructuring or business changes.
Oil and gas property and equipment, net: This category showed a marked decline from 2018 to 2020, dropping from approximately $12,766 million in early 2019 to a low near $4,500 million by late 2020/early 2021. A strong recovery followed from 2021 onwards, with steady growth reaching around $17,563 million by September 2023, signaling renewed investment in core assets.
Other property and equipment, net: Other property and equipment values decreased from 2018 peaks but stabilized thereafter, maintaining a range of roughly $1,000 to $1,500 million, showing limited changes and potential write-downs or depreciation.
Property and equipment, net: Total net property and equipment mirrored the oil and gas asset trends, with a steep drop between 2018 and 2020, followed by a recovery starting in 2021, culminating in a value exceeding $19,000 million by late 2023, indicating asset base replenishment.
Goodwill: Goodwill substantially declined from over $2,300 million in early 2018 to a consistent level of $753 million from late 2018 onward, reflecting impairment charges or divestment of business units.
Right-of-use assets: Right-of-use assets appeared from 2019 onward, fluctuating slightly but remaining generally stable around $220 to $260 million, consistent with lease accounting standards application.
Investments: Investments remained negligible until 2020 but saw a notable increase thereafter, rising to $675 million in March 2023 followed by slight decreases, implying increased investment activity in recent years.
Other long-term assets: Other long-term assets declined from early 2018 to 2020 but showed some recovery after that period, fluctuating between $270 million and $400 million, reflecting adjustments in non-core asset holdings.
Long-term assets associated with discontinued operations: These assets were present intermittently with small values reported between 2019 and 2020, indicating the winding down or sale of discontinued business segments.
Long-term assets: Long-term assets overall declined sharply from over $15,000 million in early 2019 to below $7,000 million by late 2020, likely due to asset sales or impairments. Subsequently, a recovery trend started by early 2021 with growth continuing into 2023, surpassing $21,000 million, demonstrating asset base rebuilding.
Total assets: Total assets experienced a significant drop from nearly $29,000 million in early 2018 to under $10,000 million by late 2020, reflecting major disposals or impairments, followed by a robust recovery after 2020. By mid-2023, total assets returned to over $24,000 million, indicating renewed capital investment and asset growth.

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Devon Energy Corp. (NYSE:DVN)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data