Balance Sheet: Assets
Quarterly Data
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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Chevron Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Total assets exhibited a generally increasing trend over the observed period, though with notable fluctuations. Beginning at US$241.645 billion in March 2021, total assets experienced a slight decrease to US$239.948 billion by September 2021 before rising significantly to US$249.048 billion in March 2022. A further increase to US$259.735 billion occurred by September 2022, followed by a decline to US$257.709 billion by December 2022. A more substantial increase occurred in the latter half of 2023, peaking at US$263.927 billion, before decreasing to US$256.938 billion by December 2024. The most significant increase occurred between December 2024 and December 2025, reaching US$324.012 billion.
- Cash and Cash Equivalents
- Cash and cash equivalents demonstrated considerable volatility. After starting at US$7.076 billion in March 2021, the balance increased to US$7.527 billion in June 2021, then decreased to US$5.640 billion by December 2021. A substantial increase was observed through September 2022, peaking at US$15.164 billion, before declining to US$8.178 billion by December 2023. A further decrease occurred through June 2024, reaching US$4.008 billion, followed by a modest recovery to US$6.781 billion by December 2024. The balance decreased again to US$6.293 billion by December 2025.
- Marketable Securities
- Marketable securities remained relatively stable at low levels through December 2021. A significant increase occurred in June 2022, reaching US$341 million, followed by a decline to US$45 million by December 2023. The balance remained minimal through December 2024, with no reported value.
- Accounts and Notes Receivable
- Accounts and notes receivable generally increased from US$14.118 billion in March 2021 to US$26.860 billion in June 2022. The balance then decreased to US$20.456 billion by December 2022, and fluctuated between US$19.021 billion and US$21.993 billion through December 2023. A slight increase to US$20.752 billion was observed in June 2024, followed by a decrease to US$18.075 billion by December 2025.
- Inventories
- Inventories exhibited a consistent upward trend from US$5.620 billion in March 2021 to US$9.942 billion in March 2023. The balance decreased to US$9.074 billion by December 2024, before increasing substantially to US$10.436 billion in September 2025 and US$9.711 billion by December 2025.
- Properties, Plant and Equipment, Net
- Net properties, plant and equipment remained relatively stable, fluctuating between US$142.951 billion and US$153.972 billion from March 2021 through December 2023. A significant increase occurred in September 2025, reaching US$219.494 billion, and US$219.729 billion by December 2025. This represents the largest component of total assets.
- Goodwill
- Goodwill remained relatively constant at approximately US$4.4 billion through December 2022. A decrease to US$4.578 billion was observed in December 2024, remaining at US$4.568 billion through December 2025.
- Assets Held for Sale
- Assets held for sale were initially significant at US$1.115 billion in March 2021, increasing to US$1.980 billion by September 2021. The balance decreased to US$768 million by December 2021 and remained relatively low until a substantial increase to US$5.975 billion in September 2024, before decreasing to US$481 million by December 2024 and US$25 million by December 2025.
The significant increase in total assets in December 2025 is primarily attributable to a substantial rise in net properties, plant and equipment, suggesting potential acquisitions or significant capital investments. The fluctuations in cash and cash equivalents indicate active cash management practices. The changes in assets held for sale suggest strategic divestitures or restructuring activities.