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Plains Exploration & Production Company (NYSE:PXP)
Total Current Assets
\$1,760 Mil (As of Mar. 2013)

Total current assets includes Cash and Cash Equivalents, Accounts Receivable, Inventory, and Other Current Assets. Plains Exploration & Production Company's total current assets for the quarter that ended in Mar. 2013 was \$1,760 Mil.

Definition

Total Current Assets are the asset that can be converted to cash or used to pay current liabilities within 12 months.

Plains Exploration & Production Company's Total Current Assets for the fiscal year that ended in Dec. 2012 is calculated as

 Total Current Assets = Cash and Cash Equivalents + Accounts Receivable + Inventory + Other Current Assets = 180.565 + 584.722 + 27.672 + 228.548 = 1,022

Plains Exploration & Production Company's Total Current Assets for the quarter that ended in Mar. 2013 is calculated as

 Total Current Assets = Cash and Cash Equivalents + Accounts Receivable + Inventory + Other Current Assets = 888.037 + 563.313 + 33.83 + 275.005 = 1,760

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Total Current Assets is linked to the Current Ratio, which is the result of dividing total current assets by total current liabilities. It is frequently used as an indicator of a company's liquidity, its ability to meet short-term obligations.

Total Current Assets is also linked to Working Capital, Net working capital is calculated as Total Current Assets minus Total Current Liabilities.

Explanation

In Ben Grahams calculation of liquidation value, inventory is only considered worth half of its book value, and accounts receivable is considered worth 75% of its value. Therefore the liquidation value is lower than calculated from total current assets.

Plains Exploration & Production Company's Liquidation Value for the quarter that ended in Mar. 2013 is

 Liquidation value = Cash and Cash Equivalents - Total Liabilities + (0.75 * Account Receivable) + (0.5 * Inventory) = 888.037 - 13650.151 + 0.75 * 563.313 + 0.5 * 33.83 = -12,323

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Related Terms

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Plains Exploration & Production Company Annual Data

 Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Total Current Assets 60 258 293 185 675 1,476 307 403 1,441 1,022

Plains Exploration & Production Company Quarterly Data

 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Total Current Assets 403 393 376 405 1,441 1,388 1,335 1,288 1,022 1,760
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