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, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021	Jul 31, 2020
Short-term debt	—)	499)	—)	499)	—)	1,338)
Accounts payable	792)	721)	638)	737)	623)	305)
Accrued compensation and related liabilities	858)	921)	665)	576)	530)	482)
Deferred revenue	1,019)	872)	921)	808)	684)	652)
Executive deferred compensation plan liabilities	248)	207)	171)	147)	153)	123)
Interest payable	85)	84)	12)	—)	—)	—)
Current portion of operating lease liabilities	69)	71)	89)	84)	66)	46)
Sales, property, and other taxes	55)	47)	45)	40)	5)	—)
Reserve for returns, credits, and promotional discounts	39)	40)	32)	31)	31)	35)
Accrued settlement for state attorneys general	—)	—)	—)	141)	—)	—)
Other	129)	108)	797)	136)	106)	93)
Other current liabilities	625)	557)	1,146)	579)	361)	297)
Current liabilities before funds payable and amounts due to customers	3,294)	3,570)	3,370)	3,199)	2,198)	3,074)
Funds payable and amounts due to customers	7,076)	3,921)	420)	431)	457)	455)
Current liabilities	10,370)	7,491)	3,790)	3,630)	2,655)	3,529)
Long-term debt	5,973)	5,539)	6,120)	6,415)	2,034)	2,031)
Operating lease liabilities, excluding current portion	597)	458)	480)	542)	380)	221)
Income tax liabilities	238)	157)	76)	44)	24)	10)
Other	70)	51)	45)	662)	554)	34)
Other long-term obligations	308)	208)	121)	706)	578)	44)
Long-term liabilities	6,878)	6,205)	6,721)	7,663)	2,992)	2,296)
Total liabilities	17,248)	13,696)	10,511)	11,293)	5,647)	5,825)
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	21,632)	20,248)	19,026)	17,722)	10,545)	6,179)
Treasury stock, at cost	(21,543)	(18,750)	(16,772)	(14,805)	(12,951)	(11,929)
Accumulated other comprehensive loss	(50)	(54)	(55)	(60)	(24)	(32)
Retained earnings	19,668)	16,989)	15,067)	13,581)	12,296)	10,885)
Stockholders’ equity	19,710)	18,436)	17,269)	16,441)	9,869)	5,106)
Total liabilities and stockholders’ equity	36,958)	32,132)	27,780)	27,734)	15,516)	10,931)

Based on: 10-K (reporting date: 2025-07-31), 10-K (reporting date: 2024-07-31), 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).

The analysis of the financial data reveals several notable trends and changes over the periods observed.

Current Liabilities: Short-term debt values are inconsistent, showing presence only in select years with a notable amount of 499 million in 2022 and 2024. Accounts payable exhibit an overall upward trend, increasing from 305 million in 2020 to 792 million in 2025, signaling growing obligations to suppliers. Accrued compensation and related liabilities also rise steadily, reaching a peak of 921 million in 2024 before slightly decreasing to 858 million. Deferred revenue demonstrates consistent growth with minor fluctuation, reaching its highest value of 1019 million in 2025. Executive deferred compensation plan liabilities steadily increase, doubling from 123 million in 2020 to 248 million in 2025.
Interest and Taxes Payable: Interest payable appears only from 2023 onward, increasing sharply from 12 million to 85 million by 2025, indicating increased short-term interest obligations. Sales, property, and other taxes payables show growth from 5 million in 2021 to 55 million in 2025. Income tax liabilities similarly display considerable growth, rising from 10 million in 2020 to 238 million in 2025, reflecting potentially higher taxable income or deferred tax liabilities.
Other Current Liabilities: Other current liabilities fluctuate significantly, peaking at 1146 million in 2023 before decreasing in subsequent years. The category labeled "Other" under current liabilities shows a dramatic increase to 797 million in 2023 but reverts to more moderate levels afterward. The reserve for returns and related discounts remains relatively stable, with slight increments over the period. The total current liabilities grew steadily from 3529 million in 2020 to a substantial 10370 million in 2025, with a notable surge between 2023 and 2025 driven primarily by the "Funds payable and amounts due to customers," which jump sharply from 420 million in 2023 to 7076 million in 2025.
Long-term Liabilities: Long-term debt rises significantly from 2031 million in 2020 to a peak of 6415 million in 2022, then slightly decreases to 5973 million in 2025. Operating lease liabilities excluding the current portion increase over the period, reaching 597 million by 2025. Other long-term obligations show a volatile pattern with an initial peak in 2022 at 706 million, a drop in 2023, and a recovery thereafter. Consequently, total long-term liabilities increase markedly from 2296 million in 2020 to 6878 million in 2025.
Total Liabilities: Total liabilities more than double during the period, growing from 5825 million in 2020 to 17248 million in 2025. This increase is primarily driven by the rises in both current liabilities, especially funds payable due to customers, and long-term debt.
Equity Components: Common stock remains constant at 3 million throughout all years, indicating no change in the number of shares issued. Additional paid-in capital shows a consistent upward trend from 6179 million in 2020 to 21632 million in 2025, reflecting steady capital influx or stock issuance. Treasury stock, at cost, indicates increasing repurchases or stock retirement, with the balance growing negatively from -11929 million to -21543 million, showing aggressive buyback activity. Accumulated other comprehensive loss remains relatively stable and negative, showing minimal fluctuation. Retained earnings increase notably from 10885 million to 19668 million, indicative of ongoing profitability and earnings retention. Overall stockholders' equity rises from 5106 million to 19710 million, almost quadrupling, driven by increases in paid-in capital and retained earnings, partially offset by growing treasury stock deductions.
Balance Sheet Summation: Total liabilities and stockholders’ equity grow from 10931 million in 2020 to 36958 million in 2025, reflecting an expanding balance sheet. The expansion is fueled by significant increases in both liabilities and equity, indicating growth in business operations, capital financing, or both.

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Intuit Inc. (NASDAQ:INTU)

Balance Sheet: Liabilities and Stockholders’ Equity