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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Workday Inc., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31).
Overall, the liabilities of the company demonstrate a consistent upward trend over the analyzed period, with a particularly significant increase between 2023 and 2026. Stockholders’ equity also generally increased, though with a notable decrease in the final year. The composition of both liabilities and equity shifted considerably during the period.
- Current Liabilities
- Current liabilities exhibited volatility, increasing from US$4,283 million in 2021 to US$5,068 million in 2022, then decreasing to US$4,628 million in 2023. They subsequently rose to US$5,055 million in 2024 and US$5,548 million in 2025, culminating in a substantial increase to US$6,378 million in 2026. A significant driver of this trend appears to be the growth in accrued expenses and other current liabilities, and unearned revenue. Accounts payable also showed considerable fluctuation.
- Noncurrent Liabilities
- Noncurrent liabilities experienced a more pronounced increase. Starting at US$1,158 million in 2021, they decreased to US$896 million in 2022 before surging to US$3,273 million in 2023. This growth continued, reaching US$3,315 million in 2024, US$3,395 million in 2025, and US$3,891 million in 2026. The primary contributor to this increase was a substantial rise in debt, noncurrent, and operating lease liabilities, noncurrent.
- Total Liabilities
- As a result of the trends in both current and noncurrent liabilities, total liabilities increased steadily from US$5,441 million in 2021 to US$10,269 million in 2026. The most significant year-over-year increase occurred between 2023 and 2024, and again between 2025 and 2026.
- Stockholders’ Equity Components
- Additional paid-in capital consistently increased throughout the period, rising from US$6,255 million to US$12,673 million. Treasury stock, however, showed a significant increase in outflow, moving from a negative US$12 million in 2021 to a negative US$4,220 million in 2026, indicating substantial share repurchases. Accumulated deficit decreased considerably, moving from a negative US$2,910 million to a negative US$512 million, suggesting improved profitability over time. Accumulated other comprehensive income (loss) fluctuated, ending at a negative US$136 million in 2026.
- Stockholders’ Equity – Overall Trend
- Stockholders’ equity generally increased from US$3,278 million in 2021 to US$9,034 million in 2025. However, it decreased to US$7,805 million in 2026, likely due to the increased outflow from treasury stock offsetting gains in other equity components.
- Total Liabilities and Stockholders’ Equity
- The combined total of liabilities and stockholders’ equity increased from US$8,718 million in 2021 to US$18,074 million in 2026, reflecting the overall growth of the company. The rate of increase slowed in the final year, coinciding with the decrease in stockholders’ equity.