Bristol-Myers Squibb Co. (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

	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 decreased 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 decreased 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 decreased from 2016 to 2017 but then increased from 2017 to 2018 not reaching 2016 level.