Stock Analysis on Net
Stock Analysis on Net

Diamondback Energy Inc. (NASDAQ:FANG)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 8, 2022.

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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Diamondback Energy Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Accounts payable, trade
Accrued capital expenditures
Current maturities of long-term debt
Derivative liability payable
Lease operating expenses payable
Ad valorem taxes payable
Accrued compensation
Interest payable
Midstream operating expenses payable
Liability for drilling costs prepaid by joint interest partners
Other
Other accrued liabilities
Revenues and royalties payable
Derivative instruments
Current liabilities
Long-term debt, excluding current maturities
Derivative instruments
Asset retirement obligations
Deferred income taxes
Other long-term liabilities
Long-term liabilities
Total liabilities
Common stock, $0.01 par value
Additional paid-in capital
Retained earnings (accumulated deficit)
Accumulated other comprehensive income
Total Diamondback Energy, Inc. stockholders’ equity
Non-controlling interest
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Current Liabilities
Current liabilities demonstrated a rising trend from 2017 to 2019, increasing from $577 million to $1,263 million, followed by a slight decline in 2020 to $1,236 million, before increasing again in 2021 to $1,438 million. This indicates variability but generally growing short-term obligations over the period.
Accounts Payable, Trade
Accounts payable showed an initial increase over the 2017 to 2019 period, from $95 million to $179 million, but then sharply decreased in subsequent years to $71 million in 2020 and further down to $36 million in 2021, pointing to reduced short-term supplier obligations recently.
Accrued Capital Expenditures
Accrued capital expenditures peaked in 2018 at $495 million and remained relatively high in 2019 at $475 million; however, they dropped significantly in 2020 to $186 million and partially recovered to $295 million in 2021. This suggests fluctuating investment activity likely influenced by changing operational priorities or economic conditions.
Long-Term and Current Portion of Long-Term Debt
Long-term debt, excluding current maturities, increased substantially from $1,477 million in 2017 to $6,642 million in 2021. Current maturities of long-term debt appeared starting in 2020 with $191 million, sharply reducing to $45 million in 2021, indicating refinancing or repayment activities. The marked increase in long-term debt highlights a significant rise in leverage.
Derivative and Derivative Liability Instruments
Derivative liability payable began appearing in 2019 at $3 million and increased to $101 million in 2021, while the derivative instruments position fluctuated with $100 million in 2017, followed by absence in 2018, and resurgence to $249 million in 2020 and $174 million in 2021. These fluctuations could reflect changes in hedging strategies or market risk positions.
Other Accrued Liabilities and Payables
Other accrued liabilities grew consistently from $93 million in 2017 to $436 million in 2021, indicating rising miscellaneous obligations. Lease operating expenses payable also increased from $28 million in 2017 to a peak of $119 million in 2019, then decreased to $86 million in 2021, suggesting some variability in operational cost accruals.
Revenues and Royalties Payable
Revenues and royalties payable showed steady growth from $69 million in 2017 to $452 million in 2021, potentially reflecting increased production or revenue streams leading to larger royalty obligations.
Total Liabilities
Total liabilities rose sharply from $2,189 million in 2017 to $9,653 million in 2021, with a peak at $8,625 million in 2019, slight decline in 2020, and resurgence in 2021. This upward trend illustrates increasing overall obligations and financial risk.
Deferred Income Taxes
Deferred income taxes increased significantly from $108 million in 2017 to a high of $1,886 million in 2019, then declined to $783 million in 2020, before rising again to $1,338 million in 2021. This pattern suggests volatility in taxable income and related timing differences.
Asset Retirement Obligations
Asset retirement obligations increased from $20 million in 2017 to $166 million in 2021, indicating growing expected future costs associated with asset decommissioning or environmental liabilities.
Equity Components
Common stock remained stable at $2 million after 2017. Additional paid-in capital climbed substantially from $5,291 million in 2017 to $14,084 million in 2021, reflecting capital raises or stock issuance. Retained earnings shifted from a deficit of $37 million in 2017 to a positive $890 million in 2019, then declined sharply to a deficit of $3,864 million in 2020 followed by a partial recovery to a deficit of $1,998 million in 2021, showing significant earnings volatility or write-downs.
Total Stockholders’ Equity
Total stockholders’ equity followed an overall increasing trend through 2018 and 2019, peaking at $13,699 million and $13,249 million respectively, but fell notably in 2020 to $8,794 million before recovering somewhat to $12,088 million in 2021, reflecting fluctuating profitability and capital dynamics.
Non-Controlling Interest
Non-controlling interest rose markedly from $327 million in 2017 to $1,657 million in 2019, then declined to $1,010 million in 2020 before increasing again to $1,157 million in 2021, indicating changing minority ownership stakes in subsidiaries.
Total Equity and Liabilities
The sum of total liabilities and equity grew from $7,771 million in 2017 to $22,898 million in 2021, reflecting significant expansion of the company's financial footprint over the analyzed period, despite some fluctuations in equity components and liabilities.