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.

ConocoPhillips, 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	5,635)	6,458)	5,028)	2,991)	5,088)
Short-term investments	971)	2,785)	446)	3,609)	3,028)
Accounts and notes receivable, net of allowance	5,461)	7,075)	6,543)	2,634)	3,267)
Accounts and notes receivable, related parties	13)	13)	127)	120)	134)
Investment in Cenovus Energy	—)	—)	1,117)	1,256)	2,111)
Inventories	1,398)	1,219)	1,208)	1,002)	1,026)
Prepaid expenses and other current assets	852)	1,199)	1,581)	454)	2,259)
Current assets	14,330)	18,749)	16,050)	12,066)	16,913)
Equity investments	7,905)	7,493)	6,701)	7,596)	8,234)
Long-term receivables	143)	142)	98)	137)	243)
Long-term investments in debt securities	989)	522)	248)	217)	133)
Other investments	93)	68)	66)	67)	77)
Investments and long-term receivables	9,130)	8,225)	7,113)	8,017)	8,687)
Loans and advances, related parties	—)	—)	—)	114)	219)
Net properties, plants and equipment, net of accumulated DD&A	70,044)	64,866)	64,911)	39,893)	42,269)
Other assets	2,420)	1,989)	2,587)	2,528)	2,426)
Noncurrent assets	81,594)	75,080)	74,611)	50,552)	53,601)
Total assets	95,924)	93,829)	90,661)	62,618)	70,514)

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).

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.	ConocoPhillips current assets increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net properties, plants and equipment, net of accumulated DD&A	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.	ConocoPhillips net properties, plants and equipment, net of accumulated DD&A decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Noncurrent 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.	ConocoPhillips noncurrent assets increased from 2021 to 2022 and from 2022 to 2023.
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.	ConocoPhillips total assets increased from 2021 to 2022 and from 2022 to 2023.

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.	ConocoPhillips cash and cash equivalents increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Short-term investments	Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current.	ConocoPhillips short-term investments increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Accounts and notes receivable, net of allowance	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.	ConocoPhillips accounts and notes receivable, net of allowance increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Investment in Cenovus Energy	Amount of investment in marketable security, classified as current.
Inventories	Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.	ConocoPhillips inventories increased from 2021 to 2022 and from 2022 to 2023.

ConocoPhillips (NYSE:COP)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items