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.

ConocoPhillips, consolidated balance sheet: assets (quarterly data)

US$ in millions

	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Cash and cash equivalents	5,260)	4,901)	6,309)	5,607)	5,221)	4,294)	5,574)	5,635)	8,830)	5,735)	6,974)	6,458)	8,010)	6,909)	6,414)	5,028)	9,833)	6,608)	2,831)	2,991)	2,490)	2,907)	3,908)
Short-term investments	996)	439)	926)	507)	1,571)	1,723)	487)	971)	616)	1,080)	1,635)	2,785)	2,412)	1,272)	730)	446)	678)	2,251)	4,104)	3,609)	4,032)	3,985)	3,866)
Accounts and notes receivable, net of allowance	5,744)	5,701)	6,400)	6,695)	4,815)	5,307)	5,458)	5,474)	5,671)	4,531)	5,296)	7,088)	7,354)	8,153)	7,879)	6,670)	5,465)	4,524)	4,481)	2,754)	2,119)	1,532)	2,264)
Investment in Cenovus Energy	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,117)	1,416)	1,802)	1,564)	1,256)	809)	971)	420)
Inventories	1,721)	1,897)	1,844)	1,809)	1,496)	1,447)	1,443)	1,398)	1,326)	1,236)	1,258)	1,219)	1,226)	1,234)	1,174)	1,208)	1,043)	1,138)	1,098)	1,002)	1,034)	982)	726)
Prepaid expenses and other current assets	2,163)	1,001)	1,427)	1,029)	881)	963)	759)	852)	738)	919)	953)	1,199)	1,451)	1,292)	1,389)	1,581)	1,746)	849)	536)	454)	575)	676)	1,960)
Current assets	15,884)	13,939)	16,906)	15,647)	13,984)	13,734)	13,721)	14,330)	17,181)	13,501)	16,116)	18,749)	20,453)	18,860)	17,586)	16,050)	20,181)	17,172)	14,614)	12,066)	11,059)	11,053)	13,144)
Investments and long-term receivables	10,074)	10,361)	10,008)	9,869)	9,192)	9,304)	9,132)	9,130)	8,731)	8,618)	8,197)	8,225)	8,204)	8,203)	8,309)	7,113)	8,058)	8,013)	8,286)	8,017)	8,295)	8,334)	8,707)
Loans and advances, related parties	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	59)	59)	114)	114)	167)	167)
Net properties, plants and equipment, net of accumulated DD&A	93,498)	95,242)	94,316)	94,356)	70,725)	70,226)	69,907)	70,044)	65,561)	65,452)	65,090)	64,866)	63,673)	64,008)	64,642)	64,911)	56,689)	57,717)	58,270)	39,893)	41,269)	41,120)	40,645)
Other assets	3,016)	3,057)	3,024)	2,908)	2,798)	2,730)	2,588)	2,420)	2,178)	2,034)	2,038)	1,989)	2,507)	2,622)	2,771)	2,587)	2,376)	2,442)	2,464)	2,528)	2,420)	2,372)	2,370)
Noncurrent assets	106,588)	108,660)	107,348)	107,133)	82,715)	82,260)	81,627)	81,594)	76,470)	76,104)	75,325)	75,080)	74,384)	74,833)	75,722)	74,611)	67,123)	68,231)	69,079)	50,552)	52,098)	51,993)	51,889)
Total assets	122,472)	122,599)	124,254)	122,780)	96,699)	95,994)	95,348)	95,924)	93,651)	89,605)	91,441)	93,829)	94,837)	93,693)	93,308)	90,661)	87,304)	85,403)	83,693)	62,618)	63,157)	63,046)	65,033)

Cash and Cash Equivalents: The cash and cash equivalents exhibit notable fluctuations over the periods analyzed. Starting at a moderate level in early 2020, the value dropped in mid-2020 but then rose significantly by the end of 2021. Thereafter, it showed a varying trend with intermittent decreases and increases, peaking around late 2023 and again showing a decrease toward the end of the most recent period. This indicates active liquidity management, potentially reflecting operational cash flow variability or strategic liquidity adjustments.
Short-term Investments: Short-term investments declined sharply in mid-2021 after a relatively stable start from 2020, reaching a low point toward the end of 2021. Following this low, there was a gradual recovery with increased investment values through most of 2022 and into 2023, albeit with some volatility. The pattern suggests a cautious reinvestment approach after an initial period of reduced short-term asset allocation.
Accounts and Notes Receivable, Net: This item shows a steady upward trend from early 2020 through 2022, nearly doubling in value. However, a significant decline is observed from 2022 into 2023, stabilizing somewhat thereafter but remaining below prior peaks. The increase could correspond to higher sales or credit extension, while the recent decrease might indicate improved collection efficiency or reduced credit exposure.
Investment in Cenovus Energy: The investment value displayed irregular fluctuations within the 2020 to 2021 period, with an initial sharp rise followed by a decline towards the end of 2021. Data beyond this period is missing, limiting further trend analysis. The changes suggest variable valuations or strategic repositioning during this timeframe.
Inventories: Inventories show a steady increase from early 2020 through 2025, with some minor short-term variability. The continuous buildup suggests either increased production, strategic stockpiling, or anticipated future demand growth. Notably, the rise becomes more pronounced toward the later periods.
Prepaid Expenses and Other Current Assets: Significant volatility characterizes prepaid expenses and other current assets. Initial declines in 2020 are followed by sharp increases through 2021. Subsequently, the amounts reduce again in late 2022 and early 2023 but increase towards the latest periods. This pattern may relate to timing differences in payments or changes in operational activity affecting prepaid balances.
Current Assets: Current assets expanded substantially from 2020 through the end of 2021, reflecting overall growth in liquid and short-term resources. However, declines occurred from early 2022 into mid-2023 before a partial rebound. The peaks correspond with periods of higher cash, receivables, and inventories, aligning with operational expansions or capital turnover cycles.
Investments and Long-term Receivables: Investments and long-term receivables remained relatively stable with minor fluctuations throughout the reported periods. The slight upward trend from 2022 onwards suggests cautious long-term investment growth or revaluation of receivables, reflecting steady capital deployment or asset rebalancing strategies.
Loans and Advances, Related Parties: Loans and advances to related parties appear only in the earlier periods with a downward trend and eventually vanish from reporting, indicating these balances were either settled or reclassified.
Net Properties, Plants, and Equipment (Net of Accumulated DD&A): This category demonstrates substantial growth starting in 2021, maintaining high values with gradual increases through the latest periods. The considerable jump between 2020 and 2021 indicates major capital investments or asset acquisitions, sustaining the company's capacity and operational assets.
Other Assets: Other assets exhibit moderate yet consistent growth over time, with no significant volatility. This steady increase suggests ongoing accumulation of non-current minor assets or amortizing deferred costs contributing to overall asset diversification.
Noncurrent Assets: Noncurrent assets experienced a strong increase in 2021, consistent with the rise seen in net properties, plants, and equipment. Following the increase, values fluctuated at high levels but generally maintained an upward trajectory through the latest quarters, indicating ongoing investments in long-term capital assets and strategic expansion.
Total Assets: Total assets reflect the combined effects of the aforementioned components, showing a marked increase from 2020 to 2025. The largest jumps align with investment in property, plant, and equipment as well as overall asset growth in current and noncurrent categories. Minor declines and plateaus in some quarters suggest periodic optimization or asset disposals, but the general long-term trend is growth in asset base size.

Assets: Selected Items

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Current Assets: Selected Items

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ConocoPhillips (NYSE:COP)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data