Stock Analysis on Net
Stock Analysis on Net

ConocoPhillips (NYSE:COP)

$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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ConocoPhillips, consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Accounts payable
Accounts payable, related parties
Short-term debt
Accrued income and other taxes
Employee benefit obligations
Other accruals
Current liabilities
Long-term debt
Asset retirement obligations and accrued environmental costs
Deferred income taxes
Employee benefit obligations
Other liabilities and deferred credits
Noncurrent liabilities
Total liabilities
Common stock, $0.01 par value
Capital in excess of par
Treasury stock, at cost
Accumulated other comprehensive loss
Retained earnings
Common stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

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).

Current Liabilities
Current liabilities showed a significant increase from 5,366 million in 2020 to a peak of 12,847 million in 2022, followed by a decline to 10,005 million in 2023 and a rebound to 12,124 million in 2024. Accounts payable contributed notably to this trend, rising sharply to 6,113 million in 2022 before declining and then rising again by 2024. Short-term debt fluctuated, with a decrease in 2022 but increasing again in the subsequent years. Accrued income and other taxes experienced a spike in 2021 and 2022 before decreasing in 2023 and partially recovering in 2024.
Noncurrent Liabilities
Noncurrent liabilities rose steadily from 27,403 million in 2020 to 45,860 million in 2024. Long-term debt fluctuated, with a peak in 2021 followed by decreases and then a significant increase to 23,289 million in 2024. Asset retirement obligations and accrued environmental costs consistently increased each year, reflecting growing long-term environmental or site restoration costs. Deferred income taxes showed continuous growth, reaching 11,426 million by 2024. Other noncurrent liabilities and deferred credits also increased steadily over the period.
Total Liabilities
Total liabilities grew substantially from 32,769 million in 2020 to 57,984 million in 2024, indicating an overall expansion in the company’s financial obligations. The increase was primarily driven by growth in both current and noncurrent liabilities, with notable rises in accounts payable, long-term debt, and deferred income taxes.
Equity
Equity demonstrated a positive trend, increasing from 29,849 million in 2020 to 64,796 million in 2024. Key components contributed as follows:
Common stock
Remained relatively stable with slight increases from 18 million to 23 million.
Capital in excess of par
Displayed steady growth, particularly pronounced from 2023 to 2024, reaching 77,529 million.
Treasury stock
Experienced an increasing negative balance, indicating ongoing share repurchases or treasury stock accumulation, moving from -47,297 million to -71,152 million.
Accumulated other comprehensive loss
Was negative throughout and fluctuated, reaching its largest absolute loss in 2024 at -6,473 million.
Retained earnings
Showed consistent growth, nearly doubling from 35,213 million in 2020 to 64,869 million in 2024.
Total Liabilities and Equity
This aggregate grew from 62,618 million in 2020 to 122,780 million in 2024, indicating a doubling of the company’s balance sheet size over the five-year period.
Summary of Trends
The data reveals a notable expansion in both liabilities and equity, suggesting significant growth in company operations and financing activities. The increase in both current and long-term liabilities implies ongoing investments or operational needs financed through debt and payables. The continuous rise in asset retirement obligations highlights growing environmental liabilities. Equity growth, supported by rising retained earnings and capital contributions, reflects accumulated profitability and possibly capital inflows. However, the increase in treasury stock indicates active share repurchase programs, potentially aimed at returning value to shareholders or managing share count. Overall, the financial structure exhibits a balanced growth of liabilities and equity, with increasing total capitalization and a strengthening equity base.