Name: Anadarko Petroleum Corp. (NYSE:APC) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

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

US$ in millions

	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012
Accounts payable	2,288)	2,850)	3,683)	3,530)	2,989)
Accrued expenses	386)	424)	505)	1,264)	707)
Interest payable	244)	247)	247)	—)	—)
Production, property, and other taxes payable	239)	318)	332)	—)	—)
Current asset retirement obligations	129)	309)	257)	409)	298)
Short-term debt	42)	33)	—)	500)	—)
Tronox-related contingent liability	—)	—)	5,210)	—)	—)
Current liabilities	3,328)	4,181)	10,234)	5,703)	3,994)
Long-term debt, excluding current portion	15,281)	15,718)	15,092)	13,065)	13,269)
Deferred income taxes	4,324)	5,400)	9,249)	9,245)	8,759)
Asset retirement obligations	2,802)	1,750)	1,796)	1,613)	1,587)
Tronox-related contingent liability	—)	—)	—)	850)	—)
Other	4,332)	3,908)	3,000)	1,655)	3,098)
Other long-term liabilities	11,458)	11,058)	14,045)	13,363)	13,444)
Noncurrent liabilities	26,739)	26,776)	29,137)	26,428)	26,713)
Total liabilities	30,067)	30,957)	39,371)	32,131)	30,707)
Common stock, par value $0.10 per share	57)	52)	52)	52)	51)
Paid-in capital	11,875)	9,265)	9,005)	8,629)	8,230)
Retained earnings	1,704)	4,880)	12,125)	14,356)	13,829)
Treasury stock	(1,033)	(995)	(940)	(895)	(841)
Accumulated other comprehensive loss	(391)	(383)	(517)	(285)	(640)
Stockholders’ equity	12,212)	12,819)	19,725)	21,857)	20,629)
Noncontrolling interests	3,285)	2,638)	2,593)	1,793)	1,253)
Total equity	15,497)	15,457)	22,318)	23,650)	21,882)
Total liabilities and equity	45,564)	46,414)	61,689)	55,781)	52,589)

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).

The financial position between 2012 and 2016 is characterized by a significant expansion of the balance sheet peaking in 2014, followed by a substantial contraction in both total liabilities and equity. Total liabilities and equity reached a maximum of 61,689 million US dollars in 2014 before declining to 45,564 million US dollars by the end of 2016.

Current Liabilities and Short-Term Obligations: Current liabilities exhibited extreme volatility, rising from 3,994 million US dollars in 2012 to a peak of 10,234 million US dollars in 2014. This spike was primarily driven by a one-time Tronox-related contingent liability of 5,210 million US dollars recorded in 2014. Following this event, current liabilities normalized, decreasing to 3,328 million US dollars by 2016. Accounts payable followed a similar trajectory, peaking in 2014 at 3,683 million US dollars before trending downward to 2,288 million US dollars.
Long-Term Debt and Noncurrent Liabilities: Noncurrent liabilities remained relatively stable, fluctuating between 26,428 million and 29,137 million US dollars. Long-term debt, excluding the current portion, showed a general upward trend, increasing from 13,269 million US dollars in 2012 to 15,281 million US dollars in 2016. A notable decrease is observed in deferred income taxes, which fell from a peak of 9,249 million US dollars in 2014 to 4,324 million US dollars in 2016. Additionally, asset retirement obligations grew steadily, reaching 2,802 million US dollars by the end of the period.
Equity Erosion and Capital Adjustments: A severe decline in stockholders' equity is evident, dropping from 20,629 million US dollars in 2012 to 12,212 million US dollars in 2016. The primary driver of this erosion was the collapse of retained earnings, which plummeted from 13,829 million US dollars in 2012 to 1,704 million US dollars in 2016. This suggests significant net losses or large dividend distributions during the latter half of the period. To mitigate this decline, paid-in capital was increased from 8,230 million US dollars to 11,875 million US dollars, indicating the issuance of new equity to bolster the capital base.
Total Capital Structure and Noncontrolling Interests: Total equity experienced a sharp contraction from a peak of 23,650 million US dollars in 2013 to 15,497 million US dollars in 2016. While stockholders' equity declined, noncontrolling interests grew consistently every year, rising from 1,253 million US dollars in 2012 to 3,285 million US dollars in 2016, representing an increasing share of the total equity composition.

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