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Balance Sheet: Liabilities and Stockholders’ Equity
The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.
Intuit Inc., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
Based on: 10-K (filing date: 2020-08-31), 10-K (filing date: 2019-08-30), 10-K (filing date: 2018-08-31), 10-K (filing date: 2017-09-01), 10-K (filing date: 2016-09-01), 10-K (filing date: 2015-09-01).
|Balance sheet item||Description||The company|
|Current liabilities||Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.||Intuit Inc.’s current liabilities decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.|
|Long-term liabilities||Amount of obligation due after one year or beyond the normal operating cycle, if longer.||Intuit Inc.’s long-term liabilities decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.|
|Total liabilities||Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.||Intuit Inc.’s total liabilities decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.|
|Stockholders’ equity||Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.||Intuit Inc.’s stockholders’ equity increased from 2018 to 2019 and from 2019 to 2020.|