Stock Analysis on Net
Stock Analysis on Net

Anadarko Petroleum Corp. (NYSE:APC)

This company has been moved to the archive! The financial data has not been updated since October 31, 2017.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Anadarko Petroleum Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012
Accounts payable 5.02 6.14 5.97 6.33 5.68
Accrued expenses 0.85 0.91 0.82 2.27 1.34
Interest payable 0.54 0.53 0.40 0.00 0.00
Production, property, and other taxes payable 0.52 0.69 0.54 0.00 0.00
Current asset retirement obligations 0.28 0.67 0.42 0.73 0.57
Short-term debt 0.09 0.07 0.00 0.90 0.00
Tronox-related contingent liability 0.00 0.00 8.45 0.00 0.00
Current liabilities 7.30% 9.01% 16.59% 10.22% 7.59%
Long-term debt, excluding current portion 33.54 33.86 24.46 23.42 25.23
Deferred income taxes 9.49 11.63 14.99 16.57 16.66
Asset retirement obligations 6.15 3.77 2.91 2.89 3.02
Tronox-related contingent liability 0.00 0.00 0.00 1.52 0.00
Other 9.51 8.42 4.86 2.97 5.89
Other long-term liabilities 25.15% 23.82% 22.77% 23.96% 25.56%
Noncurrent liabilities 58.68% 57.69% 47.23% 47.38% 50.80%
Total liabilities 65.99% 66.70% 63.82% 57.60% 58.39%
Common stock, par value $0.10 per share 0.13 0.11 0.08 0.09 0.10
Paid-in capital 26.06 19.96 14.60 15.47 15.65
Retained earnings 3.74 10.51 19.66 25.74 26.30
Treasury stock -2.27 -2.14 -1.52 -1.60 -1.60
Accumulated other comprehensive loss -0.86 -0.83 -0.84 -0.51 -1.22
Stockholders’ equity 26.80% 27.62% 31.97% 39.18% 39.23%
Noncontrolling interests 7.21 5.68 4.20 3.21 2.38
Total equity 34.01% 33.30% 36.18% 42.40% 41.61%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

Accounts Payable
The proportion of accounts payable relative to total liabilities and equity showed moderate fluctuations, rising from 5.68% in 2012 to a peak of 6.33% in 2013, followed by a decline to 5.02% by 2016. This indicates a slight reduction in accounts payable as a component of the capital structure towards the end of the period.
Accrued Expenses
Accrued expenses increased from 1.34% in 2012 to 2.27% in 2013 but then decreased steadily to around 0.85% by 2016, suggesting improvements in managing short-term obligations after a temporary rise.
Interest Payable
Data is available from 2014 onward, showing a gradual increase from 0.40% to 0.54% of total liabilities and equity by 2016, reflecting a slight growth in interest obligations during this period.
Production, Property, and Other Taxes Payable
Starting in 2014 at 0.54%, this item rose to 0.69% in 2015 but decreased to 0.52% in 2016, indicating some variability in tax-related payables that ended below the mid-period peak.
Current Asset Retirement Obligations
This liability fluctuated throughout the period, increasing from 0.57% in 2012 to a high of 0.73% in 2013, followed by declines to 0.28% in 2016, showing reductions in short-term asset retirement liabilities by the end of the period.
Short-Term Debt
Short-term debt was minimal and sporadic, recorded as 0.9% in 2013 and then falling sharply to low levels (around 0.07%-0.09%) in later years, indicating a significant reduction or minimal reliance on short-term borrowing.
Tronox-Related Contingent Liability
The data reveals a significant contingent liability spike in 2014 at 8.45%, absent before and after this year, which represents a one-time notable event impacting liabilities in 2014.
Current Liabilities
Current liabilities as a percentage of total liabilities and equity rose to a peak of 16.59% in 2014, primarily due to the Tronox-related contingent liability, then decreased substantially to roughly 7.3% by 2016, reflecting normalization of short-term obligations after 2014.
Long-Term Debt, Excluding Current Portion
Long-term debt showed a marked increase, moving from 25.23% in 2012 to approximately 33.5% by 2016. This indicates a growing reliance on long-term borrowing over time.
Deferred Income Taxes
Deferred income taxes steadily declined from 16.66% in 2012 to 9.49% in 2016, suggesting a reduction in deferred tax liabilities or the recognition of tax benefits over the period.
Asset Retirement Obligations
These obligations rose significantly from 3.02% in 2012 to 6.15% in 2016, implying increased long-term liabilities related to asset retirement, possibly due to regulatory or operational decisions.
Other Liabilities
The category labeled “Other” showed an increasing trend from 5.89% in 2012 to 9.51% in 2016, indicating a growth in various unspecified liabilities subordinate to the main categories.
Other Long-Term Liabilities
This category remained relatively stable, fluctuating between 22.77% and 25.56% across the years, implying consistent levels of long-term liabilities aside from debt and asset retirement obligations.
Noncurrent Liabilities
Noncurrent liabilities increased from 50.8% in 2012 to 58.68% in 2016, illustrating a rising share of long-term obligations in the capital structure.
Total Liabilities
Total liabilities as a percentage of total liabilities and equity grew slightly, moving from 58.39% in 2012 to approximately 66% in 2015, then stabilizing around 66% in 2016, indicating a modest increase in leverage over the period.
Common Stock, Par Value
Common stock portion remained minimal and fairly constant, around 0.10%, with a slight increase to 0.13% by 2016, showing little impact on the overall equity composition.
Paid-in Capital
Paid-in capital showed a strong upward trend, rising from 15.65% in 2012 to 26.06% in 2016, representing significant new capital contributions or recognized equity increases during the period.
Retained Earnings
Retained earnings declined substantially, falling from 26.3% in 2012 to only 3.74% in 2016. This sharp drop indicates heavy utilization of earnings, either through losses, dividends, or other equity reductions.
Treasury Stock
Treasury stock increased its negative impact from -1.6% in 2012 to -2.27% in 2016, suggesting increased repurchases or other reductions in outstanding equity shares.
Accumulated Other Comprehensive Loss
This item showed minor fluctuations in negative territory, remaining relatively stable between -0.51% and -0.86%, reflecting consistent other comprehensive losses.
Stockholders’ Equity
The proportion of stockholders’ equity decreased from 39.23% in 2012 to 26.8% in 2016, demonstrating a decline in equity financing relative to total capital.
Noncontrolling Interests
Noncontrolling interests grew steadily from 2.38% to 7.21%, indicating an increase in equity held by minority shareholders or partners over time.
Total Equity
Total equity as a proportion of total liabilities and equity dropped from 41.61% in 2012 to about 34% in 2016, reflecting a trend of increasing leverage and declining shareholder equity proportion.
Summary
Overall, the data indicates that the company experienced an increasing reliance on long-term debt and other noncurrent liabilities, paired with a notable decrease in retained earnings and total equity proportion. Paid-in capital increased substantially, likely from equity raises or capital contributions. Short-term liabilities peaked temporarily in 2014 due to a significant contingent liability but normalized thereafter. The rise in asset retirement obligations suggests growing future liabilities. The financial structure appears to have shifted towards higher leverage over the five-year period, with equity financing diminishing relative to total capital employed.