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.
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ConocoPhillips, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
The financial position exhibits a significant expansion in the overall balance sheet, with total liabilities and equity increasing from 83,693 million USD in March 2021 to 122,725 million USD by March 2026. This growth is characterized by a substantial increase in both total liabilities and total equity, particularly during the latter half of 2024.
- Debt and Liability Trends
- Total liabilities demonstrate a general upward trajectory, rising from 40,538 million USD to 58,184 million USD over the analyzed period. A notable surge occurred between September 30, 2024, and December 31, 2024, where total liabilities jumped from 46,818 million USD to 57,984 million USD. This spike is primarily attributed to a sharp increase in long-term debt, which rose from 16,990 million USD in September 2024 to 23,289 million USD in December 2024. Prior to this, long-term debt had been on a gradual decline from its March 2021 peak of 19,338 million USD.
- Current liabilities remained relatively volatile, fluctuating between 7,184 million USD and 13,329 million USD. Accounts payable and accrued income taxes are the primary drivers of this volatility, with accounts payable reaching a peak of 7,349 million USD in March 2025.
- Equity and Capital Allocation
- Total equity experienced a marked increase, growing from 43,155 million USD in March 2021 to 64,541 million USD in March 2026. A significant capital event is evident in December 2024, where equity rose from 49,881 million USD to 64,796 million USD, coinciding with an increase in capital in excess of par from 61,430 million USD to 77,529 million USD.
- Retained earnings show a consistent and strong upward trend, nearly doubling from 35,608 million USD in March 2021 to 70,016 million USD by March 2026, indicating sustained profitability. Simultaneously, there is a persistent increase in treasury stock expenditures, rising from -47,672 million USD to -77,231 million USD, which reflects a consistent strategy of share repurchases.
- Long-term Obligations and Deferred Items
- Noncurrent liabilities grew from 33,354 million USD to 45,598 million USD. A steady increase is observed in deferred income taxes, which rose from 4,982 million USD in March 2021 to 12,389 million USD in March 2026. Similarly, asset retirement obligations and accrued environmental costs climbed steadily from 5,782 million USD to 8,366 million USD, reflecting growing long-term environmental liabilities.