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The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
Devon Energy Corp., Consolidated Statement of Financial Position, Liabilities and Stockholders' Equity
USD $ in millions
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | Dec 31, 2006 | ||
|---|---|---|---|---|---|---|
 |
Accounts payable, trade | 1,411 | 1,137 | 1,819 | 1,360 | 1,190 |
|
Revenues and royalties due to others | 538 | 486 | 496 | 578 | 529 |
|
Short-term debt | 1,811 | 1,432 | 180 | 1,004 | 2,205 |
|
Current liabilities associated with assets held for sale | 305 | 234 | 13 | 145 | 5 |
|
Other current liabilities | 518 | 513 | 627 | 570 | 716 |
|
Current liabilities | 4,583 | 3,802 | 3,135 | 3,657 | 4,645 |
|
Debentures exchangeable into shares of Chevron Corporation common stock | – | – | – | 641 | 727 |
|
Other long-term debt | 3,819 | 5,847 | 5,661 | 6,283 | 4,841 |
|
Long-term debt | 3,819 | 5,847 | 5,661 | 6,924 | 5,568 |
|
Derivative financial instruments, at fair value | – | – | – | 488 | 302 |
|
Asset retirement obligations | 1,423 | 1,418 | 1,347 | 1,236 | 833 |
|
Liabilities associated with assets held for sale | 26 | 213 | – | 404 | 25 |
|
Other long-term liabilities | 1,067 | 937 | 1,026 | 699 | 598 |
|
Deferred income taxes | 2,756 | 1,899 | 3,679 | 6,042 | 5,650 |
|
Long-term liabilities | 9,091 | 10,314 | 11,713 | 15,793 | 12,976 |
|
Total liabilities | 13,674 | 14,116 | 14,848 | 19,450 | 17,621 |
|
Preferred stock, $1.00 par value | – | – | – | 1 | 1 |
|
Common stock, $0.10 par value | 43 | 45 | 44 | 44 | 44 |
|
Additional paid-in capital | 5,601 | 6,527 | 6,257 | 6,743 | 6,840 |
|
Retained earnings | 11,882 | 7,613 | 10,376 | 12,813 | 9,114 |
|
Accumulated other comprehensive earnings | 1,760 | 1,385 | 383 | 2,405 | 1,444 |
|
Treasury stock, at cost | (33) | – | – | – | (1) |
|
Stockholders’ equity | 19,253 | 15,570 | 17,060 | 22,006 | 17,442 |
|
Total liabilities and stockholders’ equity | 32,927 | 29,686 | 31,908 | 41,456 | 35,063 |
| Item | Description | The company |
|---|---|---|
| Accounts payable, trade | Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). | Devon Energy Corp.'s accounts payable, trade declined from 2008 to 2009 but then slightly increased from 2009 to 2010. |
| Current liabilities | Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. | Devon Energy Corp.'s current liabilities increased from 2008 to 2009 and from 2009 to 2010. |
| Long-term liabilities | Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle. | Devon Energy Corp.'s long-term liabilities declined from 2008 to 2009 and from 2009 to 2010. |
| Total liabilities | Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. | Devon Energy Corp.'s total liabilities declined from 2008 to 2009 and from 2009 to 2010. |
| Stockholders’ equity | Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). | Devon Energy Corp.'s stockholders’ equity declined from 2008 to 2009 but then increased from 2009 to 2010 exceeding 2008 level. |
February 9, 2012