Balance Sheet: Liabilities and Stockholders’ Equity

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.

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.

Advanced Micro Devices Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 27, 2025	Dec 28, 2024	Dec 30, 2023	Dec 31, 2022	Dec 25, 2021
Accounts payable	2,929)	2,466)	2,418)	2,956)	1,406)
Accrued marketing programs	1,454)	1,063)	827)	876)	933)
Accrued compensation and benefits	1,645)	1,174)	884)	701)	705)
Customer-related liabilities	1,194)	1,349)	788)	859)	314)
Other accrued and current liabilities	957)	674)	583)	641)	472)
Accrued liabilities	5,250)	4,260)	3,082)	3,077)	2,424)
Current portion of long-term debt, net	874)	—)	751)	—)	312)
Other current liabilities	402)	555)	438)	336)	98)
Current liabilities	9,455)	7,281)	6,689)	6,369)	4,240)
Long-term debt, net of current portion	2,348)	1,721)	1,717)	2,467)	1)
Long-term operating lease liabilities	625)	491)	535)	396)	348)
Deferred tax liabilities	313)	349)	1,202)	1,934)	12)
Other long-term liabilities	1,186)	1,816)	1,850)	1,664)	321)
Long-term liabilities	4,472)	4,377)	5,304)	6,461)	682)
Total liabilities	13,927)	11,658)	11,993)	12,830)	4,922)
Common stock, par value $0.01	17)	17)	17)	16)	12)
Additional paid-in capital	63,365)	61,362)	59,676)	58,005)	11,069)
Treasury stock, at cost	(7,079)	(6,106)	(4,514)	(3,099)	(2,130)
Retained earnings (accumulated deficit)	6,699)	2,364)	723)	(131)	(1,451)
Accumulated other comprehensive loss	(3)	(69)	(10)	(41)	(3)
Stockholders’ equity	62,999)	57,568)	55,892)	54,750)	7,497)
Total liabilities and stockholders’ equity	76,926)	69,226)	67,885)	67,580)	12,419)

Based on: 10-K (reporting date: 2025-12-27), 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25).

A significant increase in total liabilities is observed over the five-year period, rising from US$4,922 million in 2021 to US$13,927 million in 2025. This growth is primarily driven by substantial changes in both current and long-term liabilities, alongside a considerable expansion in stockholders’ equity.

Current Liabilities: Current liabilities demonstrate a consistent upward trend, more than doubling from US$4,240 million in 2021 to US$9,455 million in 2025. Accounts payable fluctuate, peaking in 2022 at US$2,956 million before decreasing and then rising again to US$2,929 million in 2025. Accrued liabilities, encompassing marketing programs, compensation, and customer-related items, show a steady increase throughout the period, reaching US$5,250 million in 2025. The current portion of long-term debt also contributes to the increase, rising to US$874 million in 2025. Other current liabilities also show an increasing trend.
Long-Term Liabilities: Long-term liabilities experienced a dramatic increase between 2021 and 2023, growing from US$682 million to US$6,461 million. While decreasing in 2024 to US$4,377 million, they increased again to US$4,472 million in 2025. This is largely attributable to fluctuations in long-term debt and other long-term liabilities. Deferred tax liabilities also contribute significantly, peaking in 2022 at US$1,934 million before declining to US$313 million in 2025. Long-term operating lease liabilities remain relatively stable, increasing from US$348 million in 2021 to US$625 million in 2025.
Stockholders’ Equity: Stockholders’ equity exhibits substantial growth, increasing from US$7,497 million in 2021 to US$62,999 million in 2025. This growth is primarily fueled by a significant increase in additional paid-in capital, rising from US$11,069 million to US$63,365 million. Treasury stock consistently decreases (becomes more negative) over the period, indicating share repurchases. Retained earnings demonstrate a notable turnaround, shifting from an accumulated deficit of US$1,451 million in 2021 to a positive balance of US$6,699 million in 2025. Accumulated other comprehensive loss remains relatively small and stable.
Total Liabilities and Stockholders’ Equity: The combined value of total liabilities and stockholders’ equity reflects the increases in both components, growing from US$12,419 million in 2021 to US$76,926 million in 2025. This indicates a substantial expansion in the company’s overall financial size and scope.

In summary, the financial position of the company has undergone significant changes over the observed period. While liabilities have increased substantially, this has been accompanied by even greater growth in stockholders’ equity, resulting in a considerable expansion of the company’s overall financial structure. The fluctuations within specific liability accounts warrant further investigation to understand the underlying business drivers.

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Advanced Micro Devices Inc. (NASDAQ:AMD)

Balance Sheet: Liabilities and Stockholders’ Equity