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Bristol-Myers Squibb Co. (NYSE:BMY)

Balance Sheet: Liabilities and Stockholders’ Equity

Beginner level

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, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Short-term debt obligations 3,346  1,703  987  992  139 
Accounts payable 2,445  1,892  2,248  1,664  1,565 
Rebates and returns 4,275  2,417  2,024  1,680  1,324 
Income taxes payable 1,517  398  231  152  572 
Employee compensation and benefits 1,457  848  869  818  904 
Research and development 1,324  805  783  718  553 
Dividends 1,025  669  654  660  655 
Interest 493  69  —  —  — 
Royalties 418  391  285  246  161 
Current operating lease liabilities 133  —  —  —  — 
Other 1,871  1,462  1,482  1,911  2,144 
Other current liabilities 12,513  7,059  6,328  6,185  6,313 
Current liabilities 18,304  10,654  9,563  8,841  8,017 
Deferred income taxes 6,454  18  45  47  31 
Long-term debt, excluding current portion 43,387  5,646  6,975  5,716  6,550 
Income taxes payable 5,368  3,025  3,503  926  711 
Contingent value rights 2,275  —  —  —  — 
Pension and postretirement 725  566  —  —  — 
Non-current operating lease liabilities 672  —  —  —  — 
Deferred income 424  468  454  547  586 
Deferred compensation 287  231  —  —  — 
Other 350  251  1,164  1,283  1,429 
Other non-current liabilities 10,101  4,541  5,121  2,756  2,726 
Non-current liabilities 59,942  10,205  12,141  8,519  9,307 
Total liabilities 78,246  20,859  21,704  17,360  17,324 
Preferred stock, $2 convertible series, par value $1 per share —  —  —  —  — 
Common stock, par value of $0.10 per share 292  221  221  221  221 
Capital in excess of par value of stock 43,709  2,081  1,898  1,725  1,459 
Accumulated other comprehensive loss (1,520) (2,762) (2,289) (2,503) (2,468)
Retained earnings 34,474  34,065  31,160  33,513  31,613 
Cost of treasury stock (25,357) (19,574) (19,249) (16,779) (16,559)
Total Bristol-Myers Squibb Company shareholders’ equity 51,598  14,031  11,741  16,177  14,266 
Noncontrolling interest 100  96  106  170  158 
Total equity 51,698  14,127  11,847  16,347  14,424 
Total liabilities and equity 129,944  34,986  33,551  33,707  31,748 

Based on: 10-K (filing date: 2020-02-24), 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).

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 2017 to 2018 and from 2018 to 2019.
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 decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 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 decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.
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 increased from 2017 to 2018 and from 2018 to 2019.