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.

Diamondback Energy Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	654)	104)	123)	215)	112)
Restricted cash	18)	4)	5)	—)	—)
Accounts receivable, joint interest and other, net	72)	56)	186)	96)	73)
Accounts receivable, oil and natural gas sales, net	598)	281)	429)	297)	159)
Inventories	62)	33)	37)	38)	9)
Derivative instruments	13)	1)	46)	231)	1)
Income tax receivable	1)	100)	19)	—)	—)
Prepaid expenses and other current assets	28)	23)	24)	50)	5)
Current assets	1,446)	602)	869)	925)	359)
Property and equipment, net	20,619)	16,214)	21,835)	20,372)	7,344)
Funds held in escrow	12)	51)	—)	—)	6)
Equity method investments	613)	533)	479)	1)	—)
Derivative instruments	4)	—)	7)	—)	—)
Deferred income taxes, net	40)	73)	142)	97)	—)
Investment in real estate, net	88)	101)	109)	116)	—)
Other assets	76)	45)	90)	85)	62)
Long-term assets	21,452)	17,017)	22,662)	20,671)	7,412)
Total assets	22,898)	17,619)	23,531)	21,596)	7,771)

Based on: 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), 10-K (reporting date: 2017-12-31).

Assets: Selected Items

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Balance sheet item	Description	The company
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.	Diamondback Energy Inc. current assets decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Property and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Diamondback Energy Inc. property and equipment, net decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.
Long-term 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.	Diamondback Energy Inc. long-term assets decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.
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.	Diamondback Energy Inc. total assets decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.

Current Assets: Selected Items

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Balance sheet item	Description	The company
Cash and cash equivalents	Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.	Diamondback Energy Inc. cash and cash equivalents decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Accounts receivable, oil and natural gas sales, 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.	Diamondback Energy Inc. accounts receivable, oil and natural gas sales, net decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	Diamondback Energy Inc. inventories decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

Diamondback Energy Inc. (NASDAQ:FANG)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items