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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Expand Energy Corp., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The financial data over the period reveals notable fluctuations and distinct trends across liabilities, equity, and related components.
- Current Liabilities
- There is an overall increase in current liabilities, rising from US$2,447 million at the end of 2021 to US$3,123 million by the end of 2024, despite a significant dip to US$1,314 million in 2023. The major contributors to this category include accounts payable, which exhibits volatility—initially rising sharply from US$308 million in 2021 to US$603 million in 2022, falling to US$425 million in 2023, then surging to US$777 million in 2024. Accrued interest remains relatively steady around the US$38–42 million range until it rises sharply to US$100 million in 2024. Other current liabilities follow a similar pattern with an increase over the period but with fluctuation, peaking at US$1,786 million in 2024 after a low of US$847 million in 2023.
- Non-Recurring Current Items
- New current liabilities such as "Current maturities of long-term debt, net" and "Contract liabilities" appear only in 2024, with values of US$389 million and US$284 million, respectively, indicating new short-term obligations. "Current liabilities held for sale" is reported only in 2022 at US$144 million, indicating a possible asset disposal or reclassification during that year.
- Derivative and Hedging Related Liabilities
- Derivative liabilities demonstrate considerable reductions over time, from US$899 million in 2021 to a minimal US$3 million in 2023, but then rise again to US$71 million in 2024. Long-term derivative liabilities also decline from US$249 million in 2021 to US$9 million in 2023 before increasing to US$68 million in 2024. Accrued hedging costs significantly decrease from around US$109–113 million through 2021–2022 to very low levels in 2023–2024, indicating less hedging activity or reduced costs.
- Long-term Liabilities
- Long-term liabilities trend upwards notably by 2024, reaching US$7,206 million, more than doubling from US$2,891 million in 2021. This is primarily driven by a substantial increase in long-term debt, net, excluding current maturities, rising from US$2,278 million in 2021 to US$5,291 million in 2024, despite a dip in 2023. The introduction of long-term contract liabilities in 2024 at US$1,227 million represents a new category indicating future obligations. Asset retirement obligations show a slight decline through 2023 followed by an increase in 2024, and other long-term liabilities gradually increase over the period.
- Total Liabilities
- Total liabilities align with the upward trend in both current and long-term liabilities, rising notably from US$5,338 million in 2021 to US$10,329 million in 2024, indicating increased leverage or expanded operations.
- Equity
- Stockholders’ equity significantly increases from US$5,671 million in 2021 to US$17,565 million in 2024. The growth is predominantly driven by a large rise in additional paid-in capital, particularly a sharp increase from US$5,754 million in 2023 to US$13,687 million in 2024, suggesting new equity issuance or capital infusion. Retained earnings also increase substantially from US$825 million in 2021, peaking at US$4,974 million in 2023 before decreasing to US$3,876 million in 2024. Common stock shows negligible changes, maintaining a stable par value amount. Accumulated other comprehensive income is not reported.
- Overall Financial Position
- The total of liabilities and stockholders’ equity more than doubles from US$11,009 million in 2021 to US$27,894 million in 2024, reflecting significant growth in the company’s financial scale. The increase in both liabilities and equity suggests expansion activities possibly funded through a mix of debt and equity. The rise in long-term debt and related liabilities, alongside higher additional paid-in capital, may indicate strategic financing decisions to support investment or operational growth. Fluctuations in current liabilities and derivatives point to changing operational or market conditions, while the strong equity growth underscores improved capitalization or investor support.