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Analysis of Inventory
Inventory Accounting Policy
Inventories, consisting primarily of tubular goods, materials for completion operations and well equipment held for use in the exploration for, and development and production of, crude oil and natural gas reserves, are carried at the lower of cost and net realizable value with adjustments made, as appropriate, to recognize any reductions in value.
Source: 10-K (filing date: 2018-02-27).
EOG Resources Inc., Statement of Financial Position, Inventory
USD $ in thousands
|Dec 31, 2017||Dec 31, 2016||Dec 31, 2015||Dec 31, 2014||Dec 31, 2013|
|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).||EOG Resources Inc.'s inventories declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.|