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.
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- Income Statement
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
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Apple Inc., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28).
The annual financial data shows various trends in liabilities and shareholders' equity over the six-year period.
- Current Liabilities
- Current liabilities exhibit a general increasing trend, rising from US$105,718 million in 2019 to US$176,392 million in 2024. Accounts payable increased from US$46,236 million to US$68,960 million within the same timeframe, with a notable peak in 2022 at US$64,115 million. Other current liabilities show a consistent upward trajectory, more than doubling from US$37,720 million in 2019 to US$78,304 million in 2024. Deferred revenue displayed a steady but modest rise, moving from US$5,522 million to US$8,249 million. Income taxes payable appeared in 2022 with US$6,552 million and escalated sharply to US$26,601 million by 2024. The current portion of finance leases and term debt also showed incremental increases but with some fluctuations.
- Non-current Liabilities
- Non-current liabilities increased from US$142,310 million in 2019 to a peak of US$162,431 million in 2021 before declining to US$131,638 million in 2024. The non-current portion of term debt trended downward over the period, falling from US$91,807 million to US$85,750 million in 2024 with some fluctuations. Long-term taxes payable showed a consistent decline from US$29,545 million to US$9,254 million. Other non-current liabilities presented contrasting figures—one category increased from US$20,958 million to US$35,882 million, while another decreased from US$50,503 million to US$45,888 million, indicating reclassification or distinct subcategories within this group. The non-current portion of finance leases rose initially and then slightly decreased towards 2024.
- Total Liabilities
- Total liabilities rose steadily from US$248,028 million in 2019 to US$308,030 million in 2024, demonstrating consistent growth in the company’s overall obligations despite some volatility within specific components.
- Shareholders’ Equity
- Shareholders’ equity showed a declining trend, dropping from US$90,488 million in 2019 to US$56,950 million in 2024. Common stock and additional paid-in capital steadily increased from US$45,174 million to US$83,276 million, reflecting ongoing equity financing or capital contributions. Retained earnings declined significantly, turning negative from US$4,562 million positive in 2021 to negative US$19,154 million in 2024, suggesting cumulative losses or substantial distributions exceeding earnings. Accumulated other comprehensive income also worsened, becoming increasingly negative over time, which negatively impacted overall equity.
- Total Liabilities and Shareholders’ Equity
- The sum of total liabilities and shareholders’ equity grew from US$338,516 million in 2019 to US$364,980 million in 2024, signaling expansion in the company’s balance sheet size, despite the declining net equity position.
Overall, the data reveals increasing total liabilities driven principally by rising current liabilities, particularly accounts payable and other current liabilities, while non-current liabilities showed a mixed but generally stable trend. Shareholders’ equity declined due to deteriorating retained earnings and accumulated other comprehensive income, despite increased capital contributions. The financial structure indicates heightened leverage and potential financial strain reflected in negative retained earnings and decreased equity over the period analyzed.