Balance Sheet: Assets
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.
EOG Resources Inc., consolidated balance sheet: assets
US$ in thousands
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
- Cash and Cash Equivalents
- The cash and cash equivalents displayed a generally upward trend over the five-year period. Starting at approximately $718 million in 2015, there was a significant increase in 2016 to about $1.6 billion, followed by a dip in 2017 to around $834 million. Subsequently, the value rose again to over $1.5 billion in 2018, reaching a peak of roughly $2 billion by the end of 2019. This indicates improved liquidity management with a substantial growth in cash reserves over the timeframe.
- Accounts Receivable, Net
- Accounts receivable increased steadily each year, moving from $931 million in 2015 to over $2 billion in 2019. This consistent growth suggests an expansion in sales or outstanding customer balances, reflecting increased business activity or credit extended to clients.
- Inventories
- Inventories experienced volatility with a decline from approximately $599 million in 2015 to $350 million in 2016. This was followed by an increase in 2017 to $484 million, a sharp rise to $859 million in 2018, and a subsequent decrease to $767 million in 2019. The fluctuations may be attributable to changes in production, supply chain management, or inventory valuation policies over the years.
- Assets from Price Risk Management Activities
- Data for price risk management assets was only available from 2017 onward, showing values of $7.7 million in 2017, peaking at approximately $24 million in 2018, then dropping sharply to around $1.3 million in 2019. This pattern indicates varying exposure to or hedging of price risks, with a significant reduction in such activities or revaluation by 2019.
- Income Taxes Receivable
- Income taxes receivable showed notable growth from about $41 million in 2015 to $152 million in 2019, with a peak at $428 million in 2018. This rise might reflect changes in tax payments, accruals, or refunds pending, with the spike in 2018 suggesting either timing differences or extraordinary tax positions during that year.
- Deferred Income Taxes
- Deferred income taxes as current assets exhibited some inconsistency with values available only for 2015 and 2016 ($148 million and $169 million respectively), and absent in later years. As noncurrent assets, deferred income taxes remained relatively stable but low, fluctuating between $684 thousand and $17.5 million, without a clear trend. The partial data complicates comprehensive analysis, but the shifts indicate changes in temporary differences affecting tax liabilities/assets.
- Other Current Assets
- Other current assets increased steadily from $156 million in 2015 to about $323 million in 2019. This rise represents augmenting miscellaneous short-term assets that may include prepaid expenses or other receivables.
- Current Assets
- Total current assets grew from approximately $2.6 billion in 2015 to $5.3 billion in 2019, demonstrating a nearly doubling over the period. This growth is driven chiefly by increases in cash, receivables, and other current components, indicating enhanced short-term asset base and liquidity position.
- Property, Plant and Equipment, Net
- Net property, plant, and equipment showed a continuous upward trajectory, increasing from about $24.2 billion in 2015 to $30.4 billion in 2019. This steady rise reflects ongoing capital expenditures, asset acquisitions, or reinvestments intended to support operational capacity and business growth.
- Other Noncurrent Assets
- Other noncurrent assets rose substantially over the years, from $165 million in 2015 to over $1.48 billion by 2019. This notable increase could be related to investments, long-term receivables, or intangible assets, suggesting strategic asset diversification or capitalized expenditures.
- Noncurrent Assets
- Overall, noncurrent assets increased from approximately $24.4 billion in 2015 to $31.9 billion in 2019, showing a consistent growth pattern in long-term investments and fixed assets aligned with organizational expansion strategies.
- Total Assets
- Total assets advanced steadily from $27.0 billion in 2015 to $37.1 billion in 2019. The compound growth is driven by substantial increases in both current and noncurrent assets. Such expansion indicates overall growth and strengthening asset base, supporting increased operational scale and financial stability.