Name: Steel Dynamics Inc. (NASDAQ:STLD) | 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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Steel Dynamics Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Accounts payable, unrelated parties	1,266,833)	760,536)	509,687)	536,743)	473,765)
Accounts payable, related parties	13,722)	8,919)	3,657)	14,011)	15,683)
Accounts payable	1,280,555)	769,455)	513,344)	550,754)	489,448)
Income taxes payable	13,746)	2,386)	2,014)	7,468)	3,696)
Accrued payroll and benefits	539,812)	201,778)	208,287)	264,542)	195,909)
Accrued interest	17,533)	19,656)	18,292)	25,526)	25,533)
Accrued expenses	278,549)	178,618)	175,405)	146,613)	125,138)
Current maturities of long-term debt	97,174)	86,894)	89,356)	24,234)	28,795)
Current liabilities	2,227,369)	1,258,787)	1,006,698)	1,019,137)	868,519)
Long-term debt, excluding current maturities	3,008,702)	3,015,782)	2,644,988)	2,352,489)	2,353,145)
Deferred income taxes	854,905)	536,288)	484,169)	435,838)	305,949)
Other liabilities	120,087)	106,479)	75,055)	8,870)	21,811)
Noncurrent liabilities	3,983,694)	3,658,549)	3,204,212)	2,797,197)	2,680,905)
Total liabilities	6,211,063)	4,917,336)	4,210,910)	3,816,334)	3,549,424)
Redeemable noncontrolling interests	211,414)	158,614)	143,614)	111,240)	111,240)
Common stock voting, $.0025 par value	649)	648)	646)	645)	644)
Treasury stock, at cost	(2,674,267)	(1,623,747)	(1,525,113)	(1,184,243)	(665,297)
Additional paid-in capital	1,218,933)	1,207,392)	1,181,012)	1,160,048)	1,141,534)
Retained earnings	7,761,417)	4,758,969)	4,419,296)	3,958,320)	2,874,693)
Accumulated other comprehensive income (loss)	(2,091)	1,902)	(7)	301)	—)
Total Steel Dynamics, Inc. equity	6,304,641)	4,345,164)	4,075,834)	3,935,071)	3,351,574)
Noncontrolling interests	(195,884)	(155,552)	(154,593)	(159,082)	(156,506)
Total equity	6,108,757)	4,189,612)	3,921,241)	3,775,989)	3,195,068)
Total liabilities and equity	12,531,234)	9,265,562)	8,275,765)	7,703,563)	6,855,732)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

The financial position from 2017 to 2021 is characterized by a substantial expansion of the balance sheet, with total liabilities and equity increasing from 6.86 billion to 12.53 billion. This growth reflects a concurrent increase in both total liabilities and total equity, indicating a scaled expansion of the overall capital base.

Current Liabilities Trends: Current liabilities experienced a significant upward trajectory, rising from 868.5 million in 2017 to 2.23 billion in 2021. This increase was primarily driven by accounts payable, which grew from 489.4 million to 1.28 billion over the five-year period. A notable surge is observed in accrued payroll and benefits in 2021, which increased to 539.8 million from 201.8 million in 2020, suggesting a sharp rise in operational labor costs or benefit obligations in the final year of the period.
Long-Term Obligations and Noncurrent Liabilities: Noncurrent liabilities grew from 2.68 billion in 2017 to 3.98 billion in 2021. Long-term debt, excluding current maturities, increased from 2.35 billion to 3.01 billion, showing a peak in 2020 before stabilizing. Additionally, deferred income taxes exhibited a consistent increase, rising from 305.9 million in 2017 to 854.9 million in 2021, contributing substantially to the growth of long-term obligations.
Equity and Capital Management: Total equity nearly doubled, increasing from 3.20 billion in 2017 to 6.11 billion in 2021. The primary driver of this growth was retained earnings, which surged from 2.87 billion to 7.76 billion. This accumulation of wealth was partially offset by an aggressive share repurchase strategy, as evidenced by treasury stock increasing from 665.3 million in 2017 to 2.67 billion in 2021.

The overall capital structure reveals a balanced growth pattern where the increase in total liabilities was matched by a proportional increase in equity. The substantial rise in retained earnings provided a sufficient cushion to support the increase in long-term debt and the acceleration of treasury stock acquisitions, maintaining a stable solvency profile despite the expanded scale of operations.

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