Name: Pioneer Natural Resources Co. (NYSE:PXD) | 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.

Pioneer Natural Resources Co., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash and cash equivalents	240)	1,032)	3,847)	1,442)	631)
Restricted cash	—)	—)	37)	59)	74)
Accounts receivable, net	1,590)	1,853)	1,685)	695)	1,035)
Inventories	476)	424)	369)	224)	205)
Investment in affiliate	139)	172)	135)	123)	187)
Short-term investments, net	—)	—)	58)	—)	—)
Other	160)	245)	42)	52)	59)
Current assets	2,605)	3,726)	6,173)	2,595)	2,191)
Oil and gas properties, net	31,533)	29,630)	28,182)	14,439)	14,445)
Other property and equipment, net	1,656)	1,658)	1,694)	1,584)	1,632)
Property and equipment, net	33,189)	31,288)	29,876)	16,023)	16,077)
Operating lease right-of-use assets	398)	340)	348)	197)	280)
Goodwill	242)	243)	243)	261)	261)
Other assets	179)	143)	171)	153)	258)
Noncurrent assets	34,008)	32,014)	30,638)	16,634)	16,876)
Total assets	36,613)	35,740)	36,811)	19,229)	19,067)

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).

Total assets experienced a significant expansion between 2019 and 2023, increasing from US$ 19.07 billion to US$ 36.61 billion. The most pronounced growth occurred in 2021, where total assets nearly doubled compared to the previous year. Following this surge, the asset base remained relatively stable, fluctuating slightly around the US$ 36 billion mark through 2023.

Noncurrent Asset Expansion: Oil and gas properties, net, serve as the primary driver of the company's asset growth. These assets rose from approximately US$ 14.4 billion in 2020 to US$ 28.2 billion in 2021, continuing an upward trajectory to reach US$ 31.5 billion by 2023. This substantial increase indicates a major expansion of the resource base, likely through acquisitions or significant capital investment.
Liquidity and Cash Trends: A volatile trend is observed in cash and cash equivalents. Reserves increased from US$ 631 million in 2019 to a peak of US$ 3.85 billion in 2021, followed by a sharp and consistent decline to US$ 240 million by 2023. This trajectory suggests a period of aggressive liquidity accumulation followed by significant capital deployment or debt repayment.
Current Asset Dynamics: Current assets peaked in 2021 at US$ 6.17 billion before contracting to US$ 2.61 billion by 2023. While the decline was driven largely by the reduction in cash, other current components showed growth; inventories increased steadily from US$ 205 million in 2019 to US$ 476 million in 2023, and accounts receivable, net, grew from US$ 1.04 billion in 2019 to US$ 1.59 billion in 2023.
Fixed and Intangible Assets: Other property and equipment, net, remained remarkably stable, maintaining a value of approximately US$ 1.6 billion throughout the five-year period. Similarly, goodwill remained nearly constant, fluctuating marginally between US$ 242 million and US$ 261 million. These patterns indicate that the company's growth strategy was focused specifically on oil and gas properties rather than general infrastructure or intangible acquisitions.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart