Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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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3M Co., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
- Short-term borrowings and current portion of long-term debt
- The short-term borrowings and current portion of long-term debt exhibit volatility over the observed periods. Starting at 909 million in March 2017, the figures peak at 3,449 million in March 2018, followed by a decline to 806 million by December 2020. A resurgence occurs in 2021, peaking again near end-2021 and into 2022, though values remain below the earlier peak. The fluctuations suggest changing short-term financing needs or refinancing activity.
- Accounts payable
- Accounts payable generally display an upward trend across the period. From 1,701 million in March 2017, values increase steadily with some fluctuations, reaching over 3,000 million by mid-2022. This steady increase may reflect growing operational scale or extended payment terms.
- Accrued payroll
- Accrued payroll shows some variability but with a mild upward trend from 532 million in March 2017 to a high of 1,020 million in December 2021. The figure decreases afterward but remains above initial levels, indicating possible workforce expansion or changes in payroll timing.
- Accrued income taxes
- This item fluctuates notably, generally decreasing from 433 million in early 2017 to lows below 140 million in late 2019, then increasing again temporarily in 2020, followed by a gradual decrease. This pattern may reflect tax payment cycles and variations in earnings.
- Operating lease liabilities, current and noncurrent
- Data for operating lease liabilities start being reported in late 2018 and show relatively stable values afterward. Current liabilities remain around mid-200s million, while noncurrent liabilities fluctuate around 570 to 630 million without significant trend, indicating consistent lease obligations.
- Other current liabilities
- Other current liabilities rise moderately from 2,420 million in March 2017 to a peak near 3,278 million in December 2020, followed by fluctuations around the 3,000 million mark. This increase may be linked to accrued expenses or other operational liabilities.
- Current liabilities
- Current liabilities show an overall upward movement from 5,995 million in March 2017 to a peak of 9,635 million in December 2021, before a decline to 9,543 million in September 2022. This growth aligns with increased short-term borrowings and other current liabilities.
- Long-term debt, excluding current portion
- Long-term debt rises from 10,802 million in early 2017 to a peak near 19,276 million by mid-2020, then steadily decreases toward 13,849 million by late 2022. This suggests debt repayment or refinancing activity to reduce long-term obligations.
- Pension and postretirement benefits
- This liability decreases from 3,764 million in March 2017 to about 2,502 million in late 2022, with temporary spikes around 2019 and 2020, reaching above 4,000 million. These fluctuations may indicate actuarial adjustments or changes in benefit assumptions.
- Other liabilities
- Other liabilities increase moderately from 1,691 million in early 2017 to 5,556 million by September 2022, showing sustained growth especially after 2021. This increase might be attributable to variable or contingent liabilities.
- Noncurrent liabilities
- Noncurrent liabilities rise from 16,257 million in March 2017 to a peak exceeding 26,869 million in December 2019, followed by a gradual decline to around 22,477 million by late 2022, consistent with reduction in long-term debt and pension liabilities.
- Total liabilities
- Total liabilities increase from 22,252 million in early 2017 to a high of 36,003 million in March 2020, then decrease to near 32,020 million by September 2022. This reflects overall borrowing and obligations trends, with increased borrowing until 2020 and subsequent deleveraging.
- Common stock par value
- This remains constant at 9 million throughout the period, indicating no issuance or retirement affecting par value.
- Additional paid-in capital
- Additional paid-in capital steadily rises from 5,189 million in March 2017 to 6,654 million by September 2022, reflecting incremental capital contributions or equity issuance.
- Retained earnings
- Retained earnings show a strong upward trend from 38,094 million in early 2017 to 48,245 million in late 2022, indicating accumulated profitability despite periodic volatility.
- Treasury stock, at cost
- Treasury stock increases in absolute value from -25,354 million in March 2017 to -32,843 million by September 2022, showing ongoing share buybacks or stock repurchases.
- Accumulated other comprehensive loss
- This loss fluctuates between about -6,750 million and -8,414 million, showing variability without clear directional trend, likely due to changes in unrealized gains/losses on investments and foreign currency translation.
- Total 3M Company shareholders’ equity
- Total shareholders' equity fluctuates, increasing from 10,989 million in early 2017 to a peak around 15,046 million in December 2021, before slightly decreasing to 14,080 million in September 2022. This reflects changes in retained earnings, treasury stock, and other equity components.
- Noncontrolling interest
- Noncontrolling interest slowly increases from 51 million in March 2017 to 76 million by September 2022, indicating minor ownership stakes outside the parent.
- Total equity
- Total equity rises from 11,040 million in March 2017 to a high near 15,117 million in December 2021, then declines to approximately 14,156 million by September 2022, following the pattern of shareholders' equity.
- Total liabilities and equity
- The combined total of liabilities and equity grows from 33,292 million in early 2017 to a peak of 48,307 million in December 2021, with a slight decline to 46,176 million by September 2022, indicating overall company growth and subsequent stabilization.