Balance Sheet: Liabilities and Stockholders’ Equity
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.
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.
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- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Amgen Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The capital structure exhibits a significant expansion in total liabilities and a period of extreme volatility in stockholders' equity between March 2021 and June 2026. Total liabilities grew from 53.2 billion USD to 83.9 billion USD over the period, driven primarily by a substantial increase in long-term debt and a steady rise in current operating liabilities.
- Current Liabilities Trend
- A consistent upward trajectory is observed in current liabilities, which rose from 12.8 billion USD in March 2021 to 25.5 billion USD by June 2026. This growth is largely supported by an increase in accrued liabilities, which climbed from 9.9 billion USD to 17.1 billion USD. Accounts payable also demonstrated a notable increase, particularly from 2024 onwards, doubling from approximately 1.6 billion USD in December 2023 to 2.8 billion USD by June 2026.
- Long-Term Debt and Noncurrent Obligations
- A primary shift in the balance sheet occurred in March 2023, where long-term debt, excluding the current portion, spiked from 37.3 billion USD in December 2022 to 60.7 billion USD. Following this peak, long-term debt gradually declined to 51.8 billion USD by June 2026. Conversely, long-term tax liabilities showed a steady downward trend, decreasing from 7.0 billion USD in March 2021 to 2.8 billion USD in June 2026, partially offsetting the increase in debt-related obligations.
- Stockholders' Equity and Retained Earnings
- Stockholders' equity experienced a severe contraction, reaching a minimum of 916 million USD in March 2022. Since that low point, a sustained recovery trend is evident, with equity rising to 11.6 billion USD by June 2026. This recovery is mirrored in the accumulated deficit, which, while remaining negative, improved from a peak deficit of 29.5 billion USD in March 2022 to 22.2 billion USD by June 2026.
- Overall Solvency and Leverage Patterns
- The ratio of total liabilities to stockholders' equity peaked in early 2022, indicating a period of high financial leverage. While total liabilities remain significantly higher than the 2021 baseline, the simultaneous growth in stockholders' equity from 2022 through 2026 suggests a gradual rebalancing of the company's financial position and an improvement in the equity cushion.