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.

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

US$ in millions

	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021	Jul 31, 2020	Jul 31, 2019	Jul 31, 2018
Short-term debt	—)	499)	—)	1,338)	50)	50)
Accounts payable	638)	737)	623)	305)	274)	178)
Accrued compensation and related liabilities	665)	576)	530)	482)	385)	369)
Deferred revenue	921)	808)	684)	652)	619)	961)
Income taxes payable	698)	8)	3)	—)	—)	—)
Executive deferred compensation plan liabilities	171)	147)	153)	123)	108)	97)
Current portion of operating lease liabilities	89)	84)	66)	46)	—)	—)
Sales, property, and other taxes	45)	40)	5)	—)	—)	—)
Reserve for returns, credits, and promotional discounts	32)	31)	31)	35)	35)	20)
Accrued settlement for state attorneys general	—)	141)	—)	—)	—)	—)
Other	111)	128)	103)	93)	59)	74)
Other current liabilities	448)	571)	358)	297)	202)	191)
Current liabilities before funds payable and amounts due to customers	3,370)	3,199)	2,198)	3,074)	1,530)	1,749)
Funds payable and amounts due to customers	420)	431)	457)	455)	436)	367)
Current liabilities	3,790)	3,630)	2,655)	3,529)	1,966)	2,116)
Long-term debt	6,120)	6,415)	2,034)	2,031)	386)	388)
Long-term deferred income tax liabilities	4)	619)	525)	2)	37)	7)
Operating lease liabilities, excluding current portion	480)	542)	380)	221)	—)	—)
Income tax liabilities	76)	44)	24)	10)	89)	61)
Dividend payable	16)	12)	8)	6)	4)	4)
Deferred revenue	5)	6)	8)	13)	4)	197)
Other	20)	25)	13)	13)	48)	51)
Other long-term obligations	117)	87)	53)	42)	145)	313)
Long-term liabilities	6,721)	7,663)	2,992)	2,296)	568)	708)
Total liabilities	10,511)	11,293)	5,647)	5,825)	2,534)	2,824)
Preferred stock, $0.01 par value; none issued and outstanding	—)	—)	—)	—)	—)	—)
Common stock, $0.01 par value	3)	3)	3)	3)	3)	3)
Additional paid-in capital	19,026)	17,722)	10,545)	6,179)	5,772)	5,335)
Treasury stock, at cost	(16,772)	(14,805)	(12,951)	(11,929)	(11,611)	(11,050)
Accumulated other comprehensive loss	(55)	(60)	(24)	(32)	(36)	(35)
Retained earnings	15,067)	13,581)	12,296)	10,885)	9,621)	8,101)
Stockholders’ equity	17,269)	16,441)	9,869)	5,106)	3,749)	2,354)
Total liabilities and stockholders’ equity	27,780)	27,734)	15,516)	10,931)	6,283)	5,178)

Based on: 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31), 10-K (reporting date: 2018-07-31).

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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. current liabilities increased from 2021 to 2022 and from 2022 to 2023.
Long-term liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Intuit Inc. long-term liabilities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
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. total liabilities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
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 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. stockholders’ equity increased from 2021 to 2022 and from 2022 to 2023.

Intuit Inc. (NASDAQ:INTU)

Balance Sheet: Liabilities and Stockholders’ Equity