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Stock Analysis on Net

Air Products & Chemicals Inc. (NYSE:APD)

This company has been moved to the archive! The financial data has not been updated since August 9, 2021.

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.

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

US$ in thousands

Microsoft Excel
Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014
Payables and accrued liabilities 2,118,400 2,042,200 1,962,200 1,833,200 1,668,500 1,649,100 1,630,000 1,635,700 1,543,200 1,513,700 1,738,300 1,817,800 1,968,400 1,551,600 1,609,500 1,814,300 1,534,300 1,490,600 1,677,500 1,810,600 1,778,000 1,470,600 1,533,500 1,662,400 1,700,600 1,606,900 1,585,100
Accrued income taxes 78,800 86,700 108,400 105,800 83,600 90,400 113,400 86,600 65,600 70,700 111,900 59,600 46,000 76,600 110,100 98,600 323,000 544,800 133,700 146,600 101,400 77,200 91,600 55,800 45,600 55,700 79,100
Short-term borrowings 14,300 15,400 9,200 7,700 14,300 29,000 36,500 58,200 79,900 54,100 23,000 54,300 90,400 112,500 87,100 144,000 143,400 122,300 156,100 935,800 1,043,000 1,480,900 1,539,400 1,494,300 1,087,800 1,261,000 1,283,500
Current portion of long-term debt 485,600 873,100 906,100 470,000 824,600 38,400 39,100 40,400 466,500 434,500 430,300 406,600 5,000 11,600 11,300 416,400 416,000 420,500 873,300 371,300 715,100 763,900 407,900 435,600 84,900 157,700 54,200
Current liabilities of discontinued operations — — — — — — — — — — — — — — 13,600 15,700 16,500 24,100 89,200 19,000 21,400 46,500 — — — — —
Current liabilities 2,697,100 3,017,400 2,985,900 2,416,700 2,591,000 1,806,900 1,819,000 1,820,900 2,155,200 2,073,000 2,303,500 2,338,300 2,109,800 1,752,300 1,831,600 2,489,000 2,433,200 2,602,300 2,929,800 3,283,300 3,658,900 3,839,100 3,572,400 3,648,100 2,918,900 3,081,300 3,001,900
Long-term debt, excluding current portion 6,892,200 6,804,600 6,779,100 7,132,900 7,073,200 2,922,100 2,937,000 2,907,300 2,951,700 2,933,000 2,954,400 2,967,400 3,377,100 3,442,400 3,414,900 3,402,400 3,366,600 3,300,400 3,289,000 4,918,100 3,925,600 3,573,200 3,870,500 3,949,100 4,690,500 4,511,500 4,751,300
Long-term debt, related party 274,000 311,300 312,500 297,200 285,600 323,100 328,600 320,100 321,600 369,200 360,200 384,300 398,700 — — — — — — — — — — — — — —
Other noncurrent liabilities 1,819,000 1,840,000 1,935,700 1,916,000 1,866,900 1,881,000 1,826,700 1,712,400 1,553,600 1,560,500 1,551,600 1,536,900 1,831,800 1,923,500 1,921,900 1,611,900 1,910,000 1,897,900 1,797,300 1,873,400 1,414,200 1,462,800 1,487,200 1,556,500 1,022,500 1,042,900 1,070,700
Deferred income taxes 1,078,200 1,050,800 1,003,000 962,600 942,000 844,400 810,500 793,800 823,200 805,400 768,900 775,100 678,600 699,700 719,200 778,400 634,100 650,700 679,000 767,100 904,600 882,600 831,200 903,300 1,030,400 1,101,800 1,019,500
Noncurrent liabilities 10,063,400 10,006,700 10,030,300 10,308,700 10,167,700 5,970,600 5,902,800 5,733,600 5,650,100 5,668,100 5,635,100 5,663,700 6,286,200 6,065,600 6,056,000 5,792,700 5,910,700 5,849,000 5,765,300 7,558,600 6,244,400 5,918,600 6,188,900 6,408,900 6,743,400 6,656,200 6,841,500
Total liabilities 12,760,500 13,024,100 13,016,200 12,725,400 12,758,700 7,777,500 7,721,800 7,554,500 7,805,300 7,741,100 7,938,600 8,002,000 8,396,000 7,817,900 7,887,600 8,281,700 8,343,900 8,451,300 8,695,100 10,841,900 9,903,300 9,757,700 9,761,300 10,057,000 9,662,300 9,737,500 9,843,400
Redeemable noncontrolling interest — — — — — — — — — — — — — — — — — — — — — — — — 277,900 280,000 288,700
Common stock, par value $1 per share 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400 249,400
Capital in excess of par value 1,105,200 1,094,400 1,083,000 1,094,800 1,084,800 1,074,600 1,061,700 1,070,900 1,059,900 1,047,700 1,030,400 1,029,300 1,020,000 1,011,300 998,100 1,001,100 986,400 975,500 967,500 970,000 935,400 919,600 901,900 904,700 889,300 877,700 852,800
Retained earnings 15,400,200 15,200,000 15,060,500 14,875,700 14,686,600 14,537,200 14,356,900 14,138,400 13,891,900 13,662,000 13,497,900 13,409,900 13,200,200 12,966,500 12,792,300 12,846,600 12,584,200 12,692,500 10,771,700 10,475,500 10,268,700 10,108,800 10,768,700 10,580,400 10,411,100 10,267,200 10,152,000
Accumulated other comprehensive loss (1,681,900) (1,824,400) (1,713,300) (2,140,100) (2,353,100) (2,478,200) (2,088,600) (2,375,600) (1,781,400) (1,744,800) (1,811,200) (1,741,900) (1,877,800) (1,535,300) (1,695,600) (1,847,400) (2,217,100) (2,393,700) (2,611,700) (2,388,300) (2,125,700) (2,046,700) (2,208,600) (2,125,900) (1,578,400) (1,662,100) (1,470,600)
Treasury stock, at cost (1,990,000) (1,993,200) (1,996,000) (2,000,000) (2,008,400) (2,011,100) (2,023,400) (2,029,500) (2,033,700) (2,048,600) (2,083,600) (2,089,200) (2,105,800) (2,111,100) (2,128,900) (2,163,500) (2,190,500) (2,206,300) (2,215,400) (2,227,000) (2,282,400) (2,314,500) (2,344,300) (2,359,600) (2,385,400) (2,399,700) (2,432,100)
Total Air Products shareholders’ equity 13,082,900 12,726,200 12,683,600 12,079,800 11,659,300 11,371,900 11,556,000 11,053,600 11,386,100 11,165,700 10,882,900 10,857,500 10,486,000 10,580,800 10,215,300 10,086,200 9,412,400 9,317,400 7,161,500 7,079,600 7,045,400 6,916,600 7,367,100 7,249,000 7,586,000 7,332,500 7,351,500
Noncontrolling interests 408,700 408,600 388,300 363,300 364,100 351,800 373,800 334,700 340,500 337,700 320,500 318,800 324,000 112,400 105,900 99,300 97,500 102,800 99,600 133,800 134,800 136,500 131,900 132,100 145,300 143,800 151,800
Total equity 13,491,600 13,134,800 13,071,900 12,443,100 12,023,400 11,723,700 11,929,800 11,388,300 11,726,600 11,503,400 11,203,400 11,176,300 10,810,000 10,693,200 10,321,200 10,185,500 9,509,900 9,420,200 7,261,100 7,213,400 7,180,200 7,053,100 7,499,000 7,381,100 7,731,300 7,476,300 7,503,300
Total liabilities and equity 26,252,100 26,158,900 26,088,100 25,168,500 24,782,100 19,501,200 19,651,600 18,942,800 19,531,900 19,244,500 19,142,000 19,178,300 19,206,000 18,511,100 18,208,800 18,467,200 17,853,800 17,871,500 15,956,200 18,055,300 17,083,500 16,810,800 17,260,300 17,438,100 17,671,500 17,493,800 17,635,400

Based on: 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-K (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31).

The balance sheet reflects a significant expansion in total liabilities and equity, growing from 17.6 billion USD in December 2014 to 26.25 billion USD by June 2021. This growth is characterized by a strategic shift in the debt profile and a consistent increase in retained earnings, resulting in a strengthened equity base despite substantial accumulated other comprehensive losses.

Liability Structure and Debt Migration
A pronounced transition from short-term to long-term financing is observed. Short-term borrowings declined sharply from 1.28 billion USD in December 2014 to 14.3 million USD by June 2021. Conversely, long-term debt experienced a massive escalation in the second quarter of 2020, jumping from 2.92 billion USD in March 2020 to 7.07 billion USD in June 2020, and remaining above 6.8 billion USD through June 2021. This suggests a strategic move to lock in long-term funding and reduce immediate liquidity pressures associated with short-term obligations.
Current Liability Dynamics
Current liabilities exhibited volatility, ranging from a low of 1.75 billion USD in March 2018 to a peak of 3.84 billion USD in March 2016. Payables and accrued liabilities remained the primary driver of current obligations, showing a long-term upward trend from 1.58 billion USD in 2014 to 2.12 billion USD in 2021. The current portion of long-term debt showed erratic spikes, notably reaching 906 million USD in December 2020, indicating periodic clusters of debt maturities.
Equity Growth and Retained Earnings
Total equity grew steadily from 7.50 billion USD in December 2014 to 13.49 billion USD in June 2021. This increase was primarily fueled by a consistent rise in retained earnings, which climbed from 10.15 billion USD to 15.40 billion USD over the period. The growth in equity was partially offset by accumulated other comprehensive losses, which fluctuated between -1.47 billion USD and -2.61 billion USD, as well as a steady treasury stock balance maintained around 2 billion USD.
Noncurrent Liability Trends
Noncurrent liabilities remained relatively stable around 6 billion USD for several years before mirroring the surge in long-term debt in June 2020, where they rose to 10.17 billion USD. Other noncurrent liabilities and deferred income taxes remained comparatively stable, with deferred income taxes trending upward from 679 million USD in December 2016 to 1.08 billion USD in June 2021.

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