Name: Expand Energy Corp. (NASDAQ:EXE) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

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

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts payable	777)	425)	603)	308)
Current maturities of long-term debt, net	389)	—)	—)	—)
Accrued interest	100)	39)	42)	38)
Derivative liabilities	71)	3)	432)	899)
Revenues and royalties due to others	734)	360)	734)	617)
Accrued drilling and production costs	296)	211)	253)	142)
Contract liabilities	284)	—)	—)	—)
Accrued compensation and benefits	124)	64)	72)	91)
Taxes payable	142)	84)	84)	86)
Current operating lease liabilities	71)	84)	86)	29)
Joint interest prepayments received	13)	8)	34)	14)
Accrued hedging costs	9)	2)	109)	113)
Current liabilities held for sale	—)	—)	144)	—)
Other	113)	34)	111)	110)
Other current liabilities	1,786)	847)	1,627)	1,202)
Current liabilities	3,123)	1,314)	2,704)	2,447)
Long-term debt, net, excluding current maturities	5,291)	2,028)	3,093)	2,278)
Long-term derivative liabilities	68)	9)	174)	249)
Asset retirement obligations, net of current portion	499)	265)	323)	349)
Long-term contract liabilities	1,227)	—)	—)	—)
Other long-term liabilities	121)	31)	50)	15)
Long-term liabilities	7,206)	2,333)	3,640)	2,891)
Total liabilities	10,329)	3,647)	6,344)	5,338)
Common stock, $0.01 par value	2)	1)	1)	1)
Additional paid-in capital	13,687)	5,754)	5,724)	4,845)
Retained earnings	3,876)	4,974)	3,399)	825)
Accumulated other comprehensive income	—)	—)	—)	—)
Stockholders’ equity	17,565)	10,729)	9,124)	5,671)
Total liabilities and stockholders’ equity	27,894)	14,376)	15,468)	11,009)

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 balance sheet exhibits a substantial expansion in overall scale between 2021 and 2024, with the most pronounced growth occurring in the final fiscal year. Total liabilities and stockholders' equity increased from 11,009 million US dollars in 2021 to 27,894 million US dollars in 2024, indicating a significant increase in the company's capital base and operational obligations.

Liability Structure and Trends: Total liabilities followed a volatile trajectory, decreasing from 6,344 million US dollars in 2022 to 3,647 million US dollars in 2023, before surging to 10,329 million US dollars in 2024. This sharp increase in 2024 was primarily driven by a substantial rise in long-term debt, net, which grew from 2,028 million US dollars in 2023 to 5,291 million US dollars in 2024. Additionally, the emergence of long-term contract liabilities totaling 1,227 million US dollars in 2024 reflects a shift in the company's obligation profile.
Current Liability Dynamics: Current liabilities exhibited a similar pattern of contraction followed by expansion, dropping to 1,314 million US dollars in 2023 from 2,704 million US dollars in 2022, then rising to 3,123 million US dollars in 2024. Notable contributors to the 2024 increase include accounts payable, which reached 777 million US dollars, and the introduction of current maturities of long-term debt totaling 389 million US dollars. Other current liabilities also saw a significant spike, ending 2024 at 1,786 million US dollars.
Stockholders' Equity Analysis: Stockholders' equity grew consistently over the period, rising from 5,671 million US dollars in 2021 to 17,565 million US dollars in 2024. The most significant driver of this growth was a surge in additional paid-in capital, which increased from 5,754 million US dollars in 2023 to 13,687 million US dollars in 2024, suggesting a major equity financing event or capital injection during that year.
Retained Earnings and Comprehensive Income: Retained earnings showed an upward trend from 2021 through 2023, peaking at 4,974 million US dollars. However, a reversal occurred in 2024, with retained earnings declining to 3,876 million US dollars. This decrease, occurring alongside a massive increase in total equity and debt, may indicate significant dividend payments, share repurchases, or accounting adjustments related to the expansion of the balance sheet.
Derivative and Asset Retirement Obligations: Derivative liabilities showed a marked downward trend from 2021 to 2023, falling from 899 million US dollars to 3 million US dollars, before a slight recovery to 71 million US dollars in 2024. Asset retirement obligations, net of current portions, remained relatively stable until 2024, when they increased significantly to 499 million US dollars, reflecting higher future environmental or decommissioning liabilities.

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