Stock Analysis on Net
Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity

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.

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Coca-Cola Co., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable
Accrued marketing expenses
Accrued compensation
Contingent consideration liability
Other accrued expenses
Accounts payable and accrued expenses
Loans and notes payable
Current maturities of long-term debt
Accrued income taxes
Liabilities held for sale
Current liabilities
Long-term debt, excluding current maturities
Other noncurrent liabilities
Deferred income tax liabilities
Noncurrent liabilities
Total liabilities
Common stock, $0.25 par value
Capital surplus
Reinvested earnings
Accumulated other comprehensive loss
Treasury stock, at cost
Equity attributable to shareowners of The Coca-Cola Company
Equity attributable to noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The company’s liabilities and stockholders’ equity exhibited varied trends between 2021 and 2025. Total liabilities generally increased over the period, though with some fluctuation, while total equity showed a more consistent upward trend, particularly in the later years. A significant increase in certain liability accounts in 2024 warrants specific attention.

Current Liabilities
Current liabilities remained relatively stable between 2021 and 2023, fluctuating around US$20 billion. A substantial increase occurred in 2024, reaching US$25.249 billion, driven primarily by a significant rise in ‘Accounts payable and accrued expenses’. This increase was partially offset by a decrease in 2025, bringing current liabilities back down to US$21.281 billion. Accounts payable itself showed a moderate increase throughout the period, while accrued marketing and compensation expenses also contributed to the overall level. Accrued income taxes were volatile, peaking in 2023 before decreasing substantially in 2025.
Noncurrent Liabilities
Noncurrent liabilities demonstrated relative stability between 2021 and 2023, hovering around US$47-49 billion. A slight increase was observed in 2024, followed by a further increase in 2025. Long-term debt, excluding current maturities, experienced a notable increase in 2024, contributing to the overall rise in noncurrent liabilities. Other noncurrent liabilities decreased in 2024 but recovered somewhat in 2025. Deferred income tax liabilities remained relatively consistent throughout the period.
Total Liabilities
Total liabilities decreased slightly from 2021 to 2022, then increased through 2024, reaching US$74.177 billion. A decrease was observed in 2025, bringing the total to US$70.541 billion. The fluctuations largely mirrored the trends in both current and noncurrent liabilities. The contingent consideration liability and liabilities held for sale, while initially absent, appeared in 2024 and 2025 respectively, contributing to the overall liability total.
Stockholders’ Equity
Equity attributable to shareowners of the company showed a consistent upward trend throughout the period, increasing from US$22.999 billion in 2021 to US$32.169 billion in 2025. This growth was primarily driven by increases in reinvested earnings and capital surplus. Treasury stock consistently decreased (became more negative) over the period, indicating share repurchases. Accumulated other comprehensive loss fluctuated but remained negative throughout the period. Equity attributable to noncontrolling interests also increased over the period, though to a lesser extent. Total equity demonstrated a similar upward trajectory, increasing from US$24.860 billion to US$34.275 billion.
Total Liabilities and Equity
Total liabilities and equity increased steadily from US$94.354 billion in 2021 to US$104.816 billion in 2025, reflecting the combined trends of liabilities and equity. The increase in 2024 was particularly pronounced, aligning with the significant rise in current liabilities.