Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2005
- Analysis of Revenues
- Aggregate Accruals
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Chevron Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Short-term debt
- Short-term debt as a percentage of total liabilities and equity exhibited fluctuations throughout the periods, starting at 3.67% in March 2020 and declining to very low levels below 1% in late 2020 and early 2021. From mid-2021 onwards, it remained mostly under 1%, with a slight rise towards late 2024 and early 2025, reaching up to nearly 2% by March 2025.
- Accounts payable
- Accounts payable showed an overall increasing trend, rising from 4.65% in March 2020 to a peak above 9.6% in mid-2022. Although there were moderate declines after this peak, the figure remained elevated, consistently above 7%, indicating an increasing reliance or level of accounts payable over time.
- Accrued liabilities
- This category remained relatively stable over the periods, typically fluctuating between approximately 2.6% and 3.3%. There was a slight downward trend from early 2022 through 2023, but by early 2025, accrued liabilities resumed levels around 3.2% to 3.3%.
- Federal and other taxes on income
- Taxes on income as a share of liabilities and equity showed variability, rising sharply from less than 1% in early 2020 to a peak of 1.91% by March 2023, then experiencing a decline and fluctuating around 0.3% to 0.7% in subsequent periods.
- Other taxes payable
- Other taxes payable remained relatively steady, fluctuating in a narrow band between approximately 0.3% and 0.7%, with no significant upward or downward trend.
- Current liabilities
- Current liabilities as a percentage of total liabilities and equity showed an overall increasing trend, rising from 11.93% in March 2020 to peak levels above 15% in mid-2022 and early 2025, with periodic minor dips in between. This suggests increasing short-term obligations or accrued short-term liabilities over time.
- Long-term debt, excluding current portion
- Long-term debt displayed a decreasing trend after a peak in late 2020 (around 17.84%). From 2021 onward, percentages fell steadily to below 8% through 2023 and early 2024, with a slight uptick near 10% in early 2025. This indicates a reduction in long-term debt proportion relative to total liabilities and equity during most of the period.
- Deferred credits and other noncurrent obligations
- This category remained largely stable, fluctuating modestly around 7.5% to 9.3% throughout the periods with no clear upward or downward trend.
- Noncurrent deferred income taxes
- Noncurrent deferred income taxes showed a gradual increase from 5.69% in early 2020 to about 7.6% by early 2025, indicating growing deferred tax liabilities over time relative to total liabilities and equity.
- Noncurrent employee benefit plans
- There was a consistent downward trend in noncurrent employee benefit plans from above 3.2% in early 2020 to below 1.5% by late 2024 and early 2025, signifying a reduction in these long-term obligations as a proportion of total liabilities and equity.
- Noncurrent liabilities
- Noncurrent liabilities peaked at above 35% in late 2020, followed by a gradual decline stabilizing near 25% between 2022 and early 2025, suggesting a long-term deleveraging or reclassification from noncurrent liabilities.
- Total liabilities
- Total liabilities as a percentage of total liabilities and equity rose from approximately 39% in early 2020 to nearly 45% by late 2020, then declined steadily to around 37% by early 2022. Thereafter, it increased again to exceed 41% by early 2025, indicating an overall modest increase in the leverage ratio towards the end of the observed periods.
- Redeemable noncontrolling interest
- This metric appeared only from late 2020 onwards at minimal levels around 0.05% to 0.07%, remaining stable and representing a very small portion of total liabilities and equity.
- Common stock
- Common stock as a percent of total liabilities and equity was steady around 0.7% to 0.8% throughout the period, showing negligible change.
- Capital in excess of par value
- Capital in excess of par value increased gradually from around 7.3% to over 8.4%, reflecting moderate growth in paid-in capital relative to total liabilities and equity.
- Retained earnings
- Retained earnings as a percentage of liabilities and equity decreased sharply from 74.41% in early 2020 to around 66.88% by late 2020, then showed a steady increase to over 80% by early 2025. This indicates a rebuilding and strengthening of accumulated profits or earnings over time.
- Accumulated other comprehensive losses
- Accumulative comprehensive losses steadily improved (i.e., losses decreased) from around -2.06% in early 2020 to approximately -1.06% by early 2025, evidencing a reduction in negative equity impacts from comprehensive income items.
- Deferred compensation and benefit plan trust
- This element showed minor variation, consistently around -0.09% to -0.11%, indicating little impact on the equity section.
- Treasury stock
- Treasury stock increased significantly in negative magnitude, from around -19.5% in early 2020 to nearly -30.3% by early 2025. This reveals a substantial increase in treasury stock holdings or cost during this period, thus reducing total equity.
- Total Chevron Corporation stockholders’ equity
- Stockholders’ equity decreased notably from about 60.8% in early 2020 to a low near 54.6% by early 2021, then recovered gradually to about 62% by early 2023, before declining slowly to approximately 58.2% by early 2025. This reflects some volatility but overall maintenance of a majority equity stake relative to total capitalization.
- Noncontrolling interests (excluding redeemable)
- This portion stayed minimal and stable around 0.1% to 0.4%, suggesting little influence on overall equity structure.
- Total equity
- Total equity followed a similar pattern to stockholders’ equity, falling from about 61.2% in early 2020 to a low near 55.3% by the end of 2020, rising back above 63% by mid-2023, then declining again to roughly 58.5% in early 2025. This indicates a relatively consistent, albeit cyclical, equity proportion relative to total liabilities and equity.
- Overall trends
- The data indicates cyclical fluctuations in liabilities and equity proportions with notable deleveraging in long-term debt and noncurrent employee benefits, contrasted by increasing accounts payable and treasury stock activities. Equity components showed resilience with significant recovery of retained earnings post-2020 and a reduction in comprehensive losses. The balance between liabilities and equity experienced periodic stresses around 2020, followed by relative stabilization and modest leverage increase towards early 2025.