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.

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

US$ in thousands

	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017	Sep 30, 2016	Sep 30, 2015
Trade creditors	546,200)	528,200)	924,600)	659,500)	676,100)	638,900)
Contract liabilities	313,800)	247,400)	156,600)	438,900)	376,100)	195,300)
Dividends payable	296,200)	255,700)	241,500)	207,500)	186,900)	174,400)
Accrued payroll and employee benefits	196,800)	186,100)	201,400)	187,100)	262,600)	247,800)
Obligation for future contribution to an equity affiliate	94,400)	94,400)	—)	—)	—)	—)
Current operating lease liabilities	70,700)	—)	—)	—)	—)	—)
Derivative instruments	50,900)	91,200)	54,200)	95,900)	74,000)	114,600)
Pension and postretirement benefits	17,900)	26,000)	34,100)	22,600)	35,500)	26,100)
Other	246,300)	206,700)	205,400)	202,800)	199,400)	265,300)
Payables and accrued liabilities	1,833,200)	1,635,700)	1,817,800)	1,814,300)	1,810,600)	1,662,400)
Accrued income taxes	105,800)	86,600)	59,600)	98,600)	146,600)	55,800)
Short-term borrowings	7,700)	58,200)	54,300)	144,000)	935,800)	1,494,300)
Current portion of long-term debt	470,000)	40,400)	406,600)	416,400)	371,300)	435,600)
Current liabilities of discontinued operations	—)	—)	—)	15,700)	19,000)	—)
Current liabilities	2,416,700)	1,820,900)	2,338,300)	2,489,000)	3,283,300)	3,648,100)
Long-term debt, excluding current portion	7,132,900)	2,907,300)	2,967,400)	3,402,400)	4,918,100)	3,949,100)
Long-term debt, related party	297,200)	320,100)	384,300)	—)	—)	—)
Pension benefits	614,200)	651,200)	417,200)	703,800)	1,186,800)	860,000)
Postretirement benefits	31,400)	36,000)	47,000)	57,000)	74,900)	76,500)
Noncurrent operating lease liabilities	335,800)	—)	—)	—)	—)	—)
Asset retirement obligations	236,200)	201,900)	189,500)	144,000)	116,100)	106,500)
Long-term accrued income taxes related to U.S. tax reform	190,900)	215,400)	184,400)	—)	—)	—)
Contingencies related to uncertain tax positions	138,600)	123,300)	113,200)	130,600)	95,600)	91,100)
Environmental liabilities	73,600)	59,100)	64,600)	72,300)	70,300)	71,600)
Contract liabilities	57,900)	49,200)	58,200)	39,000)	43,800)	135,100)
Derivative instruments	34,700)	21,200)	39,900)	36,000)	21,800)	10,600)
Noncurrent customer liability	—)	118,000)	92,400)	62,600)	—)	—)
Obligation for future contribution to an equity affiliate	—)	—)	94,400)	94,400)	94,400)	67,500)
Obligations associated with Energy-from-Waste	—)	57,800)	63,300)	65,300)	—)	—)
Other	202,700)	179,300)	172,800)	206,900)	169,700)	137,600)
Other noncurrent liabilities	1,916,000)	1,712,400)	1,536,900)	1,611,900)	1,873,400)	1,556,500)
Deferred income taxes	962,600)	793,800)	775,100)	778,400)	767,100)	903,300)
Noncurrent liabilities	10,308,700)	5,733,600)	5,663,700)	5,792,700)	7,558,600)	6,408,900)
Total liabilities	12,725,400)	7,554,500)	8,002,000)	8,281,700)	10,841,900)	10,057,000)
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	1,094,800)	1,070,900)	1,029,300)	1,001,100)	970,000)	904,700)
Retained earnings	14,875,700)	14,138,400)	13,409,900)	12,846,600)	10,475,500)	10,580,400)
Accumulated other comprehensive loss	(2,140,100)	(2,375,600)	(1,741,900)	(1,847,400)	(2,388,300)	(2,125,900)
Treasury stock, at cost	(2,000,000)	(2,029,500)	(2,089,200)	(2,163,500)	(2,227,000)	(2,359,600)
Total Air Products shareholders’ equity	12,079,800)	11,053,600)	10,857,500)	10,086,200)	7,079,600)	7,249,000)
Noncontrolling interests	363,300)	334,700)	318,800)	99,300)	133,800)	132,100)
Total equity	12,443,100)	11,388,300)	11,176,300)	10,185,500)	7,213,400)	7,381,100)
Total liabilities and equity	25,168,500)	18,942,800)	19,178,300)	18,467,200)	18,055,300)	17,438,100)

Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30).

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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. current liabilities decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Air Products & Chemicals Inc. noncurrent liabilities increased from 2018 to 2019 and from 2019 to 2020.
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. total liabilities decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level.
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 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. total Air Products shareholders’ equity increased from 2018 to 2019 and from 2019 to 2020.

Air Products & Chemicals Inc. (NYSE:APD)

Balance Sheet: Liabilities and Stockholders’ Equity