Stock Analysis on Net
Stock Analysis on Net

Albemarle Corp. (NYSE:ALB)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 3, 2023.

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.

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Albemarle Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Accounts payable
Employee benefits, payroll and related taxes
Dividend payable to noncontrolling interest
Settlement of prior legal matter
Wodgina Project acquisition consideration obligation
Other
Accrued expenses
Current portion of long-term debt
Dividends payable
Income taxes payable
Current liabilities
Long-term debt, excluding current portion
Postretirement benefits
Pension benefits
Transition tax on foreign earnings
Wodgina Project acquisition consideration obligation
Noncurrent operating lease liabilities
Liabilities related to uncertain tax positions
Executive deferred compensation plan obligation
Environmental liabilities
Asset retirement obligations
Tax indemnification liability
Other
Other noncurrent liabilities
Deferred income taxes
Noncurrent liabilities
Total liabilities
Common stock, $.01 par value
Additional paid-in capital
Accumulated other comprehensive loss
Retained earnings
Total Albemarle Corporation shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2022-12-31), 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).

The financial data reveals several notable trends in the company's liabilities, equity, and overall financial structure over the five-year period ending December 31, 2022.

Current Liabilities
Current liabilities demonstrated a fluctuating but generally upward trajectory, increasing from approximately $1.18 billion in 2018 to about $2.74 billion in 2022. Significant increases were observed in accounts payable, which rose sharply to over $2 billion by 2022, indicating a substantial growth in short-term obligations to suppliers or vendors. Accrued expenses also showed volatility, peaking notably in 2021 before decreasing in 2022. The current portion of long-term debt saw large swings, spiking in 2020 and then drastically reducing by 2022. The introduction of dividend payable to noncontrolling interests in 2022 and a sizeable settlement of prior legal matter in 2021 also impacted current liabilities.
Long-term Liabilities
Long-term debt, excluding the current portion, grew markedly from about $1.4 billion in 2018 to over $3.2 billion in 2022, reflecting increased leverage or financing activities. Other noncurrent liabilities fluctuated but remained in the range of $0.5 to $0.7 billion. Deferred income taxes decreased after 2019 but showed a significant rebound in 2022, reaching nearly $481 million. Various other liabilities related to employee benefits, environmental obligations, tax indemnifications, and pension benefits generally trended downward or stabilized, suggesting some management of these obligations.
Total Liabilities
Total liabilities expanded substantially, more than doubling from approximately $3.8 billion in 2018 to $7.3 billion in 2022. This reflects the overall rise in both current and noncurrent liabilities and indicates increasing obligations that the company must manage.
Equity
Shareholders’ equity showed a consistent upward trend, growing from about $3.6 billion in 2018 to nearly $8.0 billion in 2022. Retained earnings experienced a marked increase, especially in 2022, more than doubling that year to exceed $5.6 billion, which could indicate significant profitability or accumulation of undistributed earnings. Additional paid-in capital also grew notably in 2021 and 2022, possibly reflecting new equity issuances or investments. The accumulated other comprehensive loss deepened over time, which may suggest increasing unrealized losses or adjustments impacting equity. Noncontrolling interests remained relatively stable through the period.
Overall Financial Position
The total liabilities and equity combined showed substantial growth from around $7.6 billion in 2018 to over $15.4 billion by 2022, indicating expansion of the company’s asset base or financial commitments. The increasing liabilities along with rising equity suggest that the company has been actively financing growth through a combination of debt and equity. The sharp increase in accounts payable and long-term debt in 2022 is particularly notable and could imply increased business activity or acquisitions requiring external funding.