Stock Analysis on Net
Stock Analysis on Net
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Air Products & Chemicals Inc. (NYSE:APD)

Balance Sheet: Liabilities and Stockholders’ Equity

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.

Air Products & Chemicals Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

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Sep 30, 2019 Sep 30, 2018 Sep 30, 2017 Sep 30, 2016 Sep 30, 2015 Sep 30, 2014
Trade creditors 519,300  594,600  659,500  676,100  638,900  740,600 
Payables associated with Lu’An 8,900  330,000  —  —  —  — 
Contract liabilities 247,400  156,600  438,900  376,100  195,300  172,100 
Accrued payroll and employee benefits 186,100  201,400  187,100  262,600  247,800  155,000 
Pension and postretirement benefits 26,000  34,100  22,600  35,500  26,100  48,400 
Dividends payable 255,700  241,500  207,500  186,900  174,400  164,100 
Derivative instruments 91,200  54,200  95,900  74,000  114,600  82,500 
Obligation for future contribution to an equity affiliate 94,400  —  —  —  —  — 
Other 206,700  205,400  202,800  199,400  265,300  228,300 
Payables and accrued liabilities 1,635,700  1,817,800  1,814,300  1,810,600  1,662,400  1,591,000 
Accrued income taxes 86,600  59,600  98,600  146,600  55,800  78,000 
Short-term borrowings 58,200  54,300  144,000  935,800  1,494,300  1,228,700 
Current portion of long-term debt 40,400  406,600  416,400  371,300  435,600  65,300 
Current liabilities of discontinued operations —  —  15,700  19,000  —  — 
Current liabilities 1,820,900  2,338,300  2,489,000  3,283,300  3,648,100  2,963,000 
Long-term debt, excluding current portion 2,907,300  2,967,400  3,402,400  4,918,100  3,949,100  4,824,500 
Long-term debt, related party 320,100  384,300  —  —  —  — 
Pension benefits 651,200  417,200  703,800  1,186,800  860,000  609,200 
Postretirement benefits 36,000  47,000  57,000  74,900  76,500  82,800 
Noncurrent customer liability 118,000  92,400  62,600  —  —  — 
Long-term accrued income taxes related to U.S. tax reform 215,400  184,400  —  —  —  — 
Contingencies related to uncertain tax positions 123,300  113,200  130,600  95,600  91,100  111,600 
Contract liabilities 49,200  58,200  39,000  43,800  135,100  57,600 
Environmental liabilities 59,100  64,600  72,300  70,300  71,600  78,400 
Derivative instruments 21,200  39,900  36,000  21,800  10,600  3,400 
Asset retirement obligations 201,900  189,500  144,000  116,100  106,500  94,000 
Obligation for future contribution to an equity affiliate —  94,400  94,400  94,400  67,500  — 
Obligations associated with EfW 57,800  63,300  65,300  —  —  — 
Other 179,300  172,800  206,900  169,700  137,600  150,500 
Other noncurrent liabilities 1,712,400  1,536,900  1,611,900  1,873,400  1,556,500  1,187,500 
Deferred income taxes 793,800  775,100  778,400  767,100  903,300  995,500 
Noncurrent liabilities 5,733,600  5,663,700  5,792,700  7,558,600  6,408,900  7,007,500 
Total liabilities 7,554,500  8,002,000  8,281,700  10,841,900  10,057,000  9,970,500 
Redeemable noncontrolling interest —  —  —  —  —  287,200 
Common stock, par value $1 per share 249,400  249,400  249,400  249,400  249,400  249,400 
Capital in excess of par value 1,070,900  1,029,300  1,001,100  970,000  904,700  842,000 
Retained earnings 14,138,400  13,409,900  12,846,600  10,475,500  10,580,400  9,993,200 
Accumulated other comprehensive loss (2,375,600) (1,741,900) (1,847,400) (2,388,300) (2,125,900) (1,241,900)
Treasury stock, at cost (2,029,500) (2,089,200) (2,163,500) (2,227,000) (2,359,600) (2,476,900)
Total Air Products shareholders’ equity 11,053,600  10,857,500  10,086,200  7,079,600  7,249,000  7,365,800 
Noncontrolling interests 334,700  318,800  99,300  133,800  132,100  155,600 
Total equity 11,388,300  11,176,300  10,185,500  7,213,400  7,381,100  7,521,400 
Total liabilities and equity 18,942,800  19,178,300  18,467,200  18,055,300  17,438,100  17,779,100 

Based on: 10-K (filing date: 2019-11-26), 10-K (filing date: 2018-11-20), 10-K (filing date: 2017-11-16), 10-K (filing date: 2016-11-21), 10-K (filing date: 2015-11-24), 10-K (filing date: 2014-11-24).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Air Products & Chemicals Inc.’s current liabilities decreased from 2017 to 2018 and from 2018 to 2019.
Noncurrent liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Air Products & Chemicals Inc.’s noncurrent liabilities decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Air Products & Chemicals Inc.’s total liabilities decreased from 2017 to 2018 and from 2018 to 2019.
Total Air Products shareholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Air Products & Chemicals Inc.’s total Air Products shareholders’ equity increased from 2017 to 2018 and from 2018 to 2019.