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Statement of Financial Position, Assets

Difficulty: Beginner

The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's 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 Statement of Financial Position, Assets

USD $ in thousands

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Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Cash and cash equivalents 834,228  1,599,895  718,506  2,087,213  1,318,209 
Accounts receivable, net 1,597,494  1,216,320  930,610  1,779,311  1,658,853 
Inventories 483,865  350,017  598,935  706,597  563,268 
Assets from price risk management activities 7,699  465,128  8,260 
Income taxes receivable 113,357  12,305  40,704  71,621  4,797 
Deferred income taxes 169,387  147,812  19,618  244,606 
Other 242,465  206,679  155,677  286,533  274,022 
Current assets 3,279,108  3,554,603  2,592,244  5,416,021  4,072,015 
Property, plant and equipment, net 25,665,037  25,707,078  24,210,721  29,172,644  26,148,836 
Deferred income taxes 17,506  6,986  6,843  625  77,968 
Other assets 871,427  190,766  165,436  173,397  275,419 
Noncurrent assets 26,553,970  25,904,830  24,383,000  29,346,666  26,502,223 
Total assets 29,833,078  29,459,433  26,975,244  34,762,687  30,574,238 
Source: EOG Resources Inc., Annual Reports
Item Description The company
Cash and cash equivalents Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents. EOG Resources Inc.'s cash and cash equivalents increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level.
Accounts receivable, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. EOG Resources Inc.'s accounts receivable, net increased from 2015 to 2016 and from 2016 to 2017.
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.
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. EOG Resources Inc.'s current assets increased from 2015 to 2016 but then slightly declined from 2016 to 2017.
Property, plant and equipment, net Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment. EOG Resources Inc.'s property, plant and equipment, net increased from 2015 to 2016 but then slightly declined from 2016 to 2017.
Noncurrent assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. EOG Resources Inc.'s noncurrent assets increased from 2015 to 2016 and from 2016 to 2017.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. EOG Resources Inc.'s total assets increased from 2015 to 2016 and from 2016 to 2017.