Name: ONEOK Inc. (NYSE:OKE) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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ONEOK Inc., consolidated balance sheet: assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Cash and cash equivalents	220,227)	146,391)	524,496)	20,958)	11,975)
Accounts receivable, net	1,532,292)	1,441,786)	829,796)	835,121)	818,958)
Inventory	580,725)	580,899)	370,988)	506,675)	437,841)
Commodity imbalances	42,983)	39,609)	11,959)	25,267)	29,050)
Other current assets	171,548)	165,689)	132,536)	82,313)	100,808)
Current assets	2,547,775)	2,374,374)	1,869,775)	1,470,334)	1,398,632)
Net property, plant and equipment	19,952,526)	19,319,874)	19,154,928)	18,348,685)	14,766,651)
Investments in unconsolidated affiliates	801,794)	797,613)	805,032)	861,844)	969,150)
Goodwill and net intangible assets	752,867)	763,295)	773,723)	957,833)	967,142)
Other assets	324,132)	366,457)	475,296)	173,425)	130,096)
Investments and other assets	1,878,793)	1,927,365)	2,054,051)	1,993,102)	2,066,388)
Noncurrent assets	21,831,319)	21,247,239)	21,208,979)	20,341,787)	16,833,039)
Total assets	24,379,094)	23,621,613)	23,078,754)	21,812,121)	18,231,671)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Total assets exhibit a consistent upward trajectory over the five-year period, increasing from approximately $18.2 billion in 2018 to $24.4 billion by the end of 2022. This growth is primarily driven by a substantial expansion in noncurrent assets, which represent the vast majority of the company's asset base.

Current Asset Trends: Current assets grew from $1.4 billion in 2018 to $2.5 billion in 2022. A significant driver of this increase is the growth in net accounts receivable, which nearly doubled from $829.8 million in 2020 to $1.5 billion in 2022. Cash and cash equivalents showed significant volatility, peaking at $524.5 million in 2020 before stabilizing at $220.2 million by 2022. Inventory levels remained relatively stable between 2021 and 2022, following a period of fluctuation between 2018 and 2020.
Fixed Asset Expansion: Net property, plant and equipment constitute the largest portion of the balance sheet, growing from $14.8 billion in 2018 to $20.0 billion in 2022. The most pronounced increase occurred between 2018 and 2019, with a growth of approximately $3.6 billion, indicating a period of significant capital investment in infrastructure. From 2019 to 2022, growth in fixed assets continued at a more moderated and steady pace.
Intangible and Long-term Investment Trends: Goodwill and net intangible assets experienced a steady decline over the period, falling from $967.1 million in 2018 to $752.9 million in 2022. Similarly, investments in unconsolidated affiliates decreased from $969.2 million in 2018 to $801.8 million in 2022. These downward trends suggest a reduction in the book value of intangible assets and a slight divestment or valuation adjustment in affiliate holdings.
Asset Composition Shift: The balance sheet remains heavily weighted toward noncurrent assets, which grew from $16.8 billion to $21.8 billion. While current assets have increased in absolute terms, the company's asset structure continues to be dominated by long-term infrastructure investments, reflecting the capital-intensive nature of the business operations.

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