Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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EOG Resources Inc., consolidated cash flow statement
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).
- Net Income (Loss)
- The company experienced a significant improvement in net income over the period. It reported substantial losses in 2015 and 2016, with losses decreasing from approximately -$4.52 billion to -$1.10 billion. Subsequently, the company posted positive net income from 2017 onwards, with peaks around $3.42 billion in 2018 and $2.73 billion in 2019, indicating a strong recovery and profitability restoration.
- Depreciation, Depletion, and Amortization
- This expense remained relatively stable but showed a gradual increase, rising from about $3.31 billion in 2015 to nearly $3.75 billion by 2019. The steady rise suggests ongoing asset utilization and depletion consistent with operational scale.
- Impairments
- Impairment costs sharply declined from a high of approximately $6.61 billion in 2015 to under $0.52 billion by 2019, evidencing reduced asset write-downs and possibly improvements in asset valuations or reduced asset disposals.
- Stock-Based Compensation Expenses
- These expenses grew modestly over time from around $131 million in 2015 to about $175 million in 2019, reflecting a moderate increase in employee compensation through equity incentives.
- Deferred Income Taxes
- Deferred income taxes fluctuated significantly, with large negative balances in 2015 and 2017, shifting to positive amounts in 2018 and 2019. This variability points to complex and shifting tax timing differences, potentially linked to changes in profits and tax planning.
- Gains or Losses on Asset Dispositions
- Asset disposition results fluctuated, including both gains and losses during the period, with no consistent trend. Some years showed significant gains while others recorded losses, reflecting variable asset sale activities.
- Items Not Requiring Cash
- Non-cash items declined notably from over $7.59 billion in 2015 to a lower range around $2.65 billion in 2017, before increasing again to near $4.95 billion by 2019. This pattern highlights changes in accounting adjustments such as depreciation and impairments over the years.
- Working Capital Components
- Changes in working capital and related assets and liabilities showed volatility, with negative outflows in 2015 to 2018 and a positive inflow in 2019, indicating fluctuations in operational liquidity and short-term asset/liability management.
- Operating Activities
- Net cash provided by operating activities exhibits a general upward trend, climbing from about $3.60 billion in 2015 to over $8.16 billion in 2019, reflecting improved operational cash generation ability accompanying profitability recovery.
- Investing Activities
- Cash used in investing activities was consistently negative, indicating ongoing capital expenditures. Notably, the largest capital investments were additions to oil and gas properties, increasing from approximately $4.73 billion in 2015 to over $6.15 billion in 2019, reflecting aggressive asset development efforts.
- Financing Activities
- Cash flows from financing activities shifted from a modest positive in 2015 to significant outflows by 2019. This shift is driven mainly by increased dividend payments and debt repayments, suggesting a strategic focus on debt reduction and shareholder returns.
- Cash and Cash Equivalents
- The cash position fluctuated over the period but showed an overall increase, rising from about $718 million at the beginning of 2015 to more than $2.02 billion at the end of 2019. This improvement in liquidity supports the company’s enhanced capacity to manage operations and obligations.