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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- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Coca-Cola Co., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31).
The financial data reveals several notable trends in liabilities, equity, and related accounts over the five-year period.
- Accounts Payable and Accrued Expenses
- Accounts payable shows a consistent increase from 3517 million USD in 2020 to a peak of 5590 million USD in 2023, before a slight decrease to 5468 million USD in 2024. Accrued marketing expenses increase steadily throughout the period, reaching 3092 million USD in 2024. Accrued compensation also rises significantly from 609 million USD in 2020 to approximately 1391 million USD in 2024, exhibiting continual growth except for a minor dip between 2023 and 2024. Other accrued expenses peaked in 2022 at 6577 million USD but dropped in subsequent years to about 5638 million USD. The combined accounts payable and accrued expenses aggregate reflects growth over most years, particularly a sharp increase to 21715 million USD in 2024, influenced notably by the new entry of contingent consideration liability recorded only in 2024 at 6126 million USD.
- Current Liabilities
- Current liabilities escalate steadily from 14601 million USD in 2020 to 25249 million USD in 2024, indicating increased short-term obligations. This rise is partially attributable to fluctuations in loans and notes payable, which increase sharply in 2023 to 4557 million USD but retract substantially in 2024 to 1499 million USD. Current maturities of long-term debt display considerable volatility, dipping and peaking irregularly, ending at 648 million USD in 2024 after a high of 1960 million USD in 2023. Accrued income taxes generally increase, peaking in 2023 at 1569 million USD before a slight decline in 2024.
- Noncurrent Liabilities
- Long-term debt excluding current maturities decreases from 40125 million USD in 2020 to 35547 million USD in 2023 but then rises sharply to 42375 million USD in 2024. Other noncurrent liabilities show a steady decline from 9453 million USD in 2020 to 4084 million USD in 2024. Deferred income tax liabilities have mild fluctuations but a general downtrend, ending lower at 2469 million USD in 2024. Overall, noncurrent liabilities show a moderate decline over the period before a modest increase in the final year.
- Total Liabilities
- Total liabilities experience some volatility but generally increase from 66012 million USD in 2020 to 74177 million USD in 2024. The rise in 2024 is significant, corresponding with spikes in accounts payable and accrued expenses, as well as the long-term debt.
- Equity Components
- Common stock remains constant at 1760 million USD throughout. Capital surplus grows steadily from 17601 million USD in 2020 to 19801 million USD in 2024, indicating consistent additional paid-in capital or similar items. Reinvested earnings increase each year, reflecting accumulating retained profits, reaching a high of 76054 million USD in 2024. Accumulated other comprehensive loss fluctuates but mostly deepens from -14601 million USD in 2020 to -16843 million USD in 2024, suggesting increased unrealized losses or other comprehensive losses over time. Treasury stock at cost grows negatively, indicating the company has been repurchasing shares, with the cost increasing from -52016 million USD in 2020 to -55916 million USD in 2024. Equity attributable to shareholders rises steadily from 19299 million USD in 2020 to a peak of 25941 million USD in 2023 but declines slightly to 24856 million USD in 2024. Equity attributable to noncontrolling interests slightly decreases over the period, from 1985 million USD to 1516 million USD.
- Total Equity and Combined Position
- Total equity grows steadily from 21284 million USD in 2020, reaching 27480 million USD in 2023 but then declines to 26372 million USD in 2024. The combined total liabilities and equity increase from 87296 million USD in 2020 to over 100 billion USD by 2024, reflecting overall growth in balance sheet size.
In summary, the data indicates ongoing growth in liabilities, especially in accounts payable, accrued expenses, and total current liabilities. The sharp increases observed in 2024 are notable, particularly regarding contingent consideration liabilities and long-term debt. Equity trends show consistent increases in reinvested earnings and capital surplus, offset somewhat by growing comprehensive losses and growing treasury stock. The overall balance sheet expands significantly over the period, with fluctuations reflecting changes in financing and operational activities.