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.

3M Co., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Short-term borrowings and current portion of long-term debt	1,307)	806)	2,795)	1,211)	1,853)
Accounts payable	2,994)	2,561)	2,228)	2,266)	1,945)
Accrued payroll	1,020)	747)	702)	749)	870)
Accrued income taxes	260)	300)	194)	243)	310)
Current operating lease liabilities	263)	256)	247)	—)	—)
Accrued rebates	731)	639)	594)	558)	516)
Deferred revenue	529)	498)	430)	617)	513)
Derivative liabilities	23)	81)	17)	32)	135)
Employee benefits and withholdings	219)	192)	229)	228)	208)
Contingent liability claims and other	487)	556)	566)	244)	179)
Property, sales-related and other taxes	326)	308)	247)	273)	277)
Pension and postretirement benefits	78)	71)	67)	76)	69)
Current obligations of finance leases	7)	22)	21)	17)	13)
Other	791)	911)	885)	730)	799)
Other current liabilities	3,191)	3,278)	3,056)	2,775)	2,709)
Current liabilities	9,035)	7,948)	9,222)	7,244)	7,687)
Long-term debt, excluding current portion	16,056)	17,989)	17,518)	13,411)	12,096)
Pension and postretirement benefits	2,870)	4,405)	3,911)	2,987)	3,620)
Noncurrent operating lease liabilities	591)	609)	607)	—)	—)
Long term income taxes payable	1,324)	1,511)	1,507)	1,274)	1,287)
Employee benefits	400)	410)	312)	299)	319)
Contingent liability claims and other	872)	815)	787)	789)	727)
Finance leases, net of current obligations	93)	93)	111)	75)	60)
Deferred income taxes	458)	333)	301)	279)	235)
Other	256)	300)	257)	294)	334)
Other liabilities	3,403)	3,462)	3,275)	3,010)	2,962)
Noncurrent liabilities	22,920)	26,465)	25,311)	19,408)	18,678)
Total liabilities	31,955)	34,413)	34,533)	26,652)	26,365)
Common stock par value, $.01 par value	9)	9)	9)	9)	9)
Additional paid-in capital	6,429)	6,162)	5,907)	5,643)	5,352)
Retained earnings	45,821)	43,761)	42,135)	40,636)	39,115)
Treasury stock, at cost	(30,463)	(29,404)	(29,849)	(29,626)	(25,887)
Accumulated other comprehensive loss	(6,750)	(7,661)	(8,139)	(6,866)	(7,026)
Total 3M Company shareholders’ equity	15,046)	12,867)	10,063)	9,796)	11,563)
Noncontrolling interest	71)	64)	63)	52)	59)
Total equity	15,117)	12,931)	10,126)	9,848)	11,622)
Total liabilities and equity	47,072)	47,344)	44,659)	36,500)	37,987)

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).

Short-term borrowings and current portion of long-term debt: This liability exhibited volatility, decreasing from 1,853 million USD in 2017 to 1,211 million USD in 2018, spiking sharply to 2,795 million USD in 2019, then falling significantly to 806 million USD in 2020 before rising again to 1,307 million USD in 2021.
Accounts payable: Accounts payable consistently increased over the period, rising from 1,945 million USD in 2017 to 2,994 million USD in 2021, indicating growing obligations to suppliers or operational scale.
Accrued payroll: Accrued payroll declined from 870 million USD in 2017 to 702 million USD in 2019, followed by an increase to 1,020 million USD in 2021, reflecting fluctuations in payroll liabilities possibly linked to workforce changes or timing.
Accrued income taxes: A downward trend was observed from 310 million USD in 2017 to 194 million USD in 2019, with intermittent rises to 300 million USD in 2020 and a slight fall to 260 million USD in 2021.
Current operating lease liabilities: Data became available only from 2019, showing a gradual increase from 247 million USD to 263 million USD in 2021, indicative of ascending lease obligations.
Accrued rebates: There was a steady increase from 516 million USD in 2017 to 731 million USD in 2021, suggesting growing rebate-related accruals.
Deferred revenue: Deferred revenue fluctuated, rising from 513 million USD in 2017 to 617 million USD in 2018, then falling sharply to 430 million USD in 2019, followed by modest increases, reaching 529 million USD in 2021.
Derivative liabilities: These liabilities generally declined from 135 million USD in 2017 to 23 million USD in 2021, with an exception in 2020 where a notable increase to 81 million USD occurred.
Employee benefits and withholdings: Amounts held relatively stable without a consistent trend, ranging between 192 and 229 million USD over the five years.
Contingent liability claims and other (current): This category increased markedly from 179 million USD in 2017 to a peak of 566 million USD in 2019, then slightly decreased to 487 million USD in 2021.
Property, sales-related and other taxes: Tax-related liabilities exhibited minor fluctuations but generally increased from 277 million USD in 2017 to 326 million USD in 2021.
Pension and postretirement benefits (current): The current portion of pension liabilities remained relatively flat, fluctuating modestly around the 70 million USD mark.
Current obligations of finance leases: This liability increased from 13 million USD in 2017 to 22 million USD in 2020 before declining sharply to 7 million USD in 2021, indicating a reduction in finance lease obligations.
Other current liabilities (including unspecified): The aggregate of other current liabilities demonstrated a consistent increase from 2,709 million USD in 2017 to 3,278 million USD in 2020, then a marginal decrease to 3,191 million USD in 2021.
Total current liabilities: Current liabilities showed variability; decreasing from 7,687 million USD in 2017 to 7,244 million USD in 2018, then a sharp rise to 9,222 million USD in 2019, followed by a decline to 7,948 million USD in 2020 and an increase to 9,035 million USD in 2021.
Long-term debt, excluding current portion: Long-term debt rose significantly from 12,096 million USD in 2017 to a peak of 17,989 million USD in 2020, before a notable decrease to 16,056 million USD in 2021.
Pension and postretirement benefits (noncurrent): The noncurrent pension liabilities showed a mixed trend, declining from 3,620 million USD in 2017 to 2,987 million USD in 2018, peaking at 4,405 million USD in 2020, then dropping to 2,870 million USD in 2021.
Noncurrent operating lease liabilities: From 2019, these obligations remained relatively stable around 600 million USD, with a slight decrease to 591 million USD in 2021.
Long term income taxes payable: This liability stayed relatively stable, fluctuating between approximately 1,274 million USD and 1,511 million USD, with a minor decline to 1,324 million USD in 2021.
Employee benefits (noncurrent): Noncurrent employee benefits showed an increase, particularly rising from 312 million USD in 2019 to 410 million USD in 2020, then a slight decrease to 400 million USD in 2021.
Contingent liability claims and other (noncurrent): These liabilities increased gradually from 727 million USD in 2017 to 872 million USD in 2021, indicating growing contingent obligations.
Finance leases, net of current obligations: The amount increased from 60 million USD in 2017 to 111 million USD in 2019, dropping slightly and stabilizing around 93 million USD in 2020 and 2021.
Deferred income taxes: Deferred income taxes grew steadily from 235 million USD in 2017 to 458 million USD in 2021, suggesting increasing tax deferrals.
Other noncurrent liabilities: These liabilities remained fairly constant, fluctuating between 256 million USD and 334 million USD during the period.
Total other liabilities (noncurrent): Other noncurrent liabilities increased slightly, from 2,962 million USD in 2017 to 3,462 million USD in 2020, then decreased marginally to 3,403 million USD in 2021.
Total noncurrent liabilities: Noncurrent liabilities rose from 18,678 million USD in 2017 to 26,465 million USD in 2020, followed by a decrease to 22,920 million USD in 2021, showing debt and other obligations peaked in 2020 before declining.
Total liabilities: Overall liabilities increased steadily from 26,365 million USD in 2017 to 34,533 million USD in 2019, plateaued in 2020, then declined to 31,955 million USD in 2021.
Common stock par value: Remained constant at 9 million USD throughout the observed period.
Additional paid-in capital: Exhibited steady growth from 5,352 million USD in 2017 to 6,429 million USD in 2021, reflecting incremental capital contributions or stock transactions.
Retained earnings: Retained earnings continuously increased each year, from 39,115 million USD in 2017 to 45,821 million USD in 2021, indicative of ongoing profitability or accumulation of earnings.
Treasury stock, at cost: The negative balance deepened from -25,887 million USD in 2017 to -30,463 million USD in 2021, showing a consistent increase in share repurchases.
Accumulated other comprehensive loss: This loss fluctuated but generally improved from -7,026 million USD in 2017 to -6,750 million USD in 2021, with a notable increase in loss in 2019.
Total shareholders’ equity: Shareholders’ equity rose from 11,563 million USD in 2017 to 15,046 million USD in 2021, with a dip in 2018 followed by progressive recovery and growth, peaking in 2021.
Noncontrolling interest: The noncontrolling interest remained small but increased slightly from 59 million USD in 2017 to 71 million USD in 2021.
Total equity: Total equity followed a similar trend as shareholders’ equity, increasing from 11,622 million USD in 2017 to 15,117 million USD in 2021 after a decrease in 2018.
Total liabilities and equity: The sum of liabilities and equity rose significantly from 37,987 million USD in 2017 to 44,659 million USD in 2019, increased further in 2020 to 47,344 million USD, and then slightly decreased to 47,072 million USD in 2021, indicating an overall growth in the company’s balance sheet size over the period.

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3M Co. (NYSE:MMM)

Balance Sheet: Liabilities and Stockholders’ Equity