Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

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

US$ in millions

	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Short-term debt obligations	2,261)	4,509)	4,715)	3,554)	2,046)	1,078)	3,531)	6,190)	3,119)	5,467)	3,020)	2,752)	4,264)	2,132)	4,953)	7,522)	4,948)	5,065)	2,655)	1,777)
Accounts payable	3,575)	4,288)	5,427)	4,002)	3,602)	3,469)	3,751)	3,539)	3,259)	2,813)	3,069)	3,194)	3,040)	2,595)	2,882)	2,944)	2,949)	2,695)	3,609)	2,972)
Other current liabilities	17,581)	19,339)	17,386)	16,514)	18,126)	18,091)	15,983)	16,093)	15,884)	15,182)	14,061)	13,139)	14,586)	14,203)	13,080)	12,355)	13,971)	13,700)	12,727)	12,581)
Current liabilities	23,417)	28,136)	27,528)	24,070)	23,774)	22,638)	23,265)	25,822)	22,262)	23,462)	20,150)	19,085)	21,890)	18,930)	20,915)	22,821)	21,868)	21,460)	18,991)	17,330)
Deferred income taxes	222)	225)	247)	276)	369)	430)	461)	442)	338)	399)	751)	1,568)	2,166)	2,881)	3,034)	3,809)	4,501)	4,956)	4,931)	5,235)
Long-term debt, excluding current portion	42,850)	44,469)	44,470)	46,157)	47,603)	48,674)	48,858)	49,487)	36,653)	32,137)	34,656)	35,078)	35,056)	36,966)	37,107)	37,450)	39,605)	39,677)	42,503)	44,505)
Other non-current liabilities	5,044)	5,459)	4,942)	4,476)	4,469)	4,728)	4,993)	6,732)	6,421)	6,203)	5,902)	6,664)	6,590)	6,685)	6,640)	7,309)	7,334)	7,516)	7,498)	7,692)
Non-current liabilities	48,116)	50,153)	49,659)	50,909)	52,441)	53,832)	54,312)	56,661)	43,412)	38,739)	41,309)	43,310)	43,812)	46,532)	46,781)	48,568)	51,440)	52,149)	54,932)	57,432)
Total liabilities	71,533)	78,289)	77,187)	74,979)	76,215)	76,470)	77,577)	82,483)	65,674)	62,201)	61,459)	62,395)	65,702)	65,462)	67,696)	71,389)	73,308)	73,609)	73,923)	74,762)
Preferred stock	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)	292)
Capital in excess of par value of stock	46,388)	46,266)	46,133)	46,012)	46,024)	45,896)	45,766)	45,655)	45,684)	44,849)	45,299)	45,140)	45,165)	44,956)	44,375)	43,756)	44,361)	44,292)	44,064)	43,852)
Accumulated other comprehensive loss	(1,524)	(1,513)	(1,554)	(1,424)	(1,238)	(1,468)	(1,456)	(1,400)	(1,546)	(1,286)	(1,387)	(1,368)	(1,281)	(841)	(992)	(1,229)	(1,268)	(1,424)	(1,518)	(1,544)
Retained earnings	16,896)	17,093)	16,154)	16,106)	14,912)	16,097)	16,103)	15,640)	28,766)	28,218)	27,449)	26,568)	25,503)	24,675)	24,217)	23,948)	23,820)	22,625)	22,168)	22,204)
Cost of treasury stock	(43,579)	(43,586)	(43,590)	(43,597)	(43,655)	(43,675)	(43,690)	(43,697)	(43,766)	(43,075)	(39,680)	(38,808)	(38,618)	(36,411)	(35,292)	(35,187)	(31,259)	(28,572)	(28,198)	(27,199)
Total BMS shareholders’ equity	18,473)	18,552)	17,435)	17,389)	16,335)	17,142)	17,015)	16,490)	29,430)	28,998)	31,973)	31,824)	31,061)	32,671)	32,600)	31,580)	35,946)	37,213)	36,808)	37,605)
Noncontrolling interest	33)	48)	54)	59)	53)	58)	54)	58)	55)	64)	57)	62)	57)	63)	61)	65)	60)	71)	66)	68)
Total equity	18,506)	18,600)	17,489)	17,448)	16,388)	17,200)	17,069)	16,548)	29,485)	29,062)	32,030)	31,886)	31,118)	32,734)	32,661)	31,645)	36,006)	37,284)	36,874)	37,673)
Total liabilities and equity	90,039)	96,889)	94,676)	92,427)	92,603)	93,670)	94,646)	99,031)	95,159)	91,263)	93,489)	94,281)	96,820)	98,196)	100,357)	103,034)	109,314)	110,893)	110,797)	112,435)

An examination of the balance sheet information reveals notable shifts in the company’s liabilities and stockholders’ equity over the observed period, spanning from March 2021 to December 2025. Overall, total liabilities and equity experienced volatility, with a general decreasing trend from 2021 to 2023, followed by an increase in 2024 and a subsequent decline in 2025.

Current Liabilities: Current liabilities demonstrated a fluctuating pattern. They increased from US$17,330 million in March 2021 to a peak of US$23,462 million in September 2023, before decreasing to US$23,417 million in December 2023. A further decline was observed in 2024, reaching US$22,638 million in September, followed by a slight increase to US$23,774 million in December 2024, and finally decreasing to US$22,61 million in December 2025. Accounts payable remained relatively stable, generally ranging between US$2,595 million and US$5,427 million throughout the period. Other current liabilities consistently represented the largest component of current liabilities, exhibiting an upward trend until September 2024, peaking at US$18,091 million, before decreasing in subsequent quarters.
Non-Current Liabilities: Non-current liabilities generally decreased from US$57,432 million in March 2021 to US$43,812 million in December 2022. They experienced a slight increase in 2023, reaching US$43,412 million, before rising significantly in 2024 to US$56,661 million in March, and then decreasing to US$52,441 million in December 2024. By December 2025, non-current liabilities stood at US$48,116 million. Long-term debt, excluding the current portion, constituted the majority of non-current liabilities, showing a similar decreasing trend from US$44,505 million in March 2021 to US$32,137 million in September 2023, followed by an increase to US$49,487 million in March 2024, and a subsequent decrease to US$42,850 million in December 2025.
Stockholders’ Equity: Total stockholders’ equity exhibited a more pronounced downward trend from US$37,673 million in March 2021 to US$29,485 million in December 2023. A significant decrease occurred in early 2024, falling to US$16,548 million in March, before a modest recovery to US$18,506 million by December 2025. Retained earnings experienced a substantial decline, particularly in 2024, contributing significantly to the overall decrease in equity. Accumulated other comprehensive loss consistently represented a negative balance, increasing in magnitude over the period. Cost of treasury stock remained a substantial negative value throughout the observed period, indicating significant share repurchase activity.
Deferred Income Taxes: Deferred income taxes decreased consistently from US$5,235 million in March 2021 to US$222 million in December 2025, suggesting a reduction in future tax liabilities or changes in tax-related accounting practices.

The observed fluctuations in liabilities and equity suggest dynamic financial management and potentially significant strategic decisions, such as debt restructuring, share repurchases, and changes in deferred tax assets and liabilities. The decrease in equity, particularly in 2024, warrants further investigation to understand the underlying causes and potential implications for the company’s financial health.

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Bristol-Myers Squibb Co. (NYSE:BMY)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data