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Bristol-Myers Squibb Co. (BMY)


Balance Sheet: Liabilities and Stockholders’ Equity

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The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.

Bristol-Myers Squibb Co., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Short-term debt obligations 1,703  987  992  139  590 
Accounts payable 1,892  2,248  1,664  1,565  2,487 
Rebates and returns 2,417  2,024  1,680  1,324  851 
Employee compensation and benefits 848  869  818  904  892 
Research and development 805  783  718  553  445 
Dividends 669  654  660  655  645 
Royalties 391  285  246  161  213 
Branded Prescription Drug Fee 188  303  234  112  — 
Liabilities related to assets held-for-sale 152  —  —  —  — 
Litigation and other settlements 118  38  43  189  43 
Restructuring 85  155  90  89  128 
Pension and postretirement benefits 35  40  44  47  47 
Other 781  863  738  704  691 
Accrued liabilities 6,489  6,014  5,271  4,738  3,955 
Deferred income 172  83  762  1,003  1,167 
Income taxes payable 398  231  152  572  262 
Current liabilities 10,654  9,563  8,841  8,017  8,461 
Deferred income 468  454  547  586  770 
Income taxes payable 3,043  3,548  973  742  560 
Pension and other liabilities 1,048  1,164  1,283  1,429  1,733 
Long-term debt, excluding current portion 5,646  6,975  5,716  6,550  7,242 
Non-current liabilities 10,205  12,141  8,519  9,307  10,305 
Total liabilities 20,859  21,704  17,360  17,324  18,766 
Preferred stock, $2 convertible series, par value $1 per share —  —  —  —  — 
Common stock, par value of $0.10 per share 221  221  221  221  221 
Capital in excess of par value of stock 2,081  1,898  1,725  1,459  1,507 
Accumulated other comprehensive loss (2,762) (2,289) (2,503) (2,468) (2,425)
Retained earnings 34,065  31,160  33,513  31,613  32,541 
Cost of treasury stock (19,574) (19,249) (16,779) (16,559) (16,992)
Total Bristol-Myers Squibb Company shareholders’ equity 14,031  11,741  16,177  14,266  14,852 
Noncontrolling interest 96  106  170  158  131 
Total equity 14,127  11,847  16,347  14,424  14,983 
Total liabilities and equity 34,986  33,551  33,707  31,748  33,749 

Based on: 10-K (filing date: 2019-02-25), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13).

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. Bristol-Myers Squibb Co.’s current liabilities increased from 2016 to 2017 and from 2017 to 2018.
Non-current liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Bristol-Myers Squibb Co.’s non-current liabilities increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.
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. Bristol-Myers Squibb Co.’s total liabilities increased from 2016 to 2017 but then slightly declined from 2017 to 2018.
Total Bristol-Myers Squibb Company 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’s 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. Bristol-Myers Squibb Co.’s total Bristol-Myers Squibb Company shareholders’ equity declined from 2016 to 2017 but then increased from 2017 to 2018 not reaching 2016 level.