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.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Current Ratio since 2005
- Debt to Equity since 2005
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Pioneer Natural Resources Co., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2023-12-31), 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).
- Cash and Cash Equivalents
- The cash and cash equivalents value shows significant volatility over the analyzed period. It increased markedly from $631 million in 2019 to a peak of $3,847 million in 2021, followed by a sharp decline to $1,032 million in 2022 and further to $240 million in 2023. This pattern indicates a substantial buildup of liquidity in 2021, which was subsequently drawn down in the following years.
- Restricted Cash
- Restricted cash has decreased steadily from $74 million in 2019 to $37 million in 2021 and is reported as zero or not present in subsequent years, suggesting a reduction or elimination of restricted cash balances by 2022 and 2023.
- Accounts Receivable, Net
- Accounts receivable demonstrate variability, beginning at $1,035 million in 2019, dropping to $695 million in 2020, then rising significantly to $1,685 million in 2021 and further to $1,853 million in 2022 before slightly decreasing to $1,590 million in 2023. This trend indicates fluctuations in sales or credit terms, with a noticeable increase from 2020 to 2022 followed by a moderate reduction.
- Inventories
- Inventories show a continuous and steady increase from $205 million in 2019 to $476 million in 2023, reflecting an accumulation of stock or raw materials over the years.
- Investment in Affiliate
- This investment shows a fluctuating pattern, decreasing from $187 million in 2019 to $123 million in 2020, then increasing to $172 million in 2022 before falling to $139 million in 2023, indicating changes in investment valuations or affiliate performance.
- Short-term Investments, Net
- Short-term investments are minimally reported, with a small amount ($58 million) appearing only in 2021, suggesting limited activity or holdings in this category.
- Other Current Assets
- The "Other" current assets category decreased slightly from $59 million in 2019 to $42 million in 2021, then sharply increased to $245 million in 2022 before decreasing to $160 million in 2023, indicating episodic items or reclassifications affecting this line.
- Current Assets
- Current assets rose notably from $2,191 million in 2019 to a peak of $6,173 million in 2021, then declined substantially to $3,726 million in 2022 and further to $2,605 million in 2023. This pattern mirrors the trend in cash and accounts receivable, highlighting a peak in liquidity and working capital in 2021 with subsequent drawdowns.
- Oil and Gas Properties, Net
- Oil and gas properties more than doubled from $14,445 million in 2019 to $28,182 million in 2021, followed by steady increases to $29,630 million in 2022 and $31,533 million in 2023. This consistent growth suggests ongoing capital expenditures, development, or acquisitions in core assets.
- Other Property and Equipment, Net
- This asset category remained relatively stable, fluctuating slightly between $1,584 million and $1,694 million over the five years, reflecting limited changes in this asset base.
- Property and Equipment, Net
- Overall property and equipment grew from $16,077 million in 2019 to $29,876 million in 2021, and continued increasing through 2023 to $33,189 million. The substantial jump in 2021 corresponds with increased oil and gas properties, indicating significant asset base expansion.
- Operating Lease Right-of-Use Assets
- Right-of-use assets for operating leases dropped from $280 million in 2019 to $197 million in 2020, then increased to $348 million in 2021 and remained fairly stable through 2023, ending at $398 million. This suggests adjustments related to lease accounting or new lease agreements.
- Goodwill
- Goodwill has remained stable at approximately $242-$261 million throughout the period, indicating no significant impairments or acquisitions impacting this intangible asset.
- Other Noncurrent Assets
- Other noncurrent assets fluctuated, decreasing from $258 million in 2019 to $153 million in 2020, then rising modestly to $179 million by 2023, showing limited but variable activity in this classification.
- Total Noncurrent Assets
- Noncurrent assets increased notably from $16,876 million in 2019 to $30,638 million in 2021, then continued to grow steadily to $34,008 million by 2023. The significant increase primarily reflects capital investment in oil and gas properties and property, plant, and equipment.
- Total Assets
- Total assets experienced a substantial increase from $19,067 million in 2019 to $36,811 million in 2021, then a slight decline to $35,740 million in 2022 followed by a modest recovery to $36,613 million in 2023. The growth mainly stems from increased capital assets, while current assets and cash balances contributed to the fluctuations over the period.