Stock Analysis on Net
Stock Analysis on Net

Devon Energy Corp. (NYSE:DVN)

This company has been moved to the archive! The financial data has not been updated since November 8, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Devon Energy Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable 3.35 3.61 3.99 3.62 3.23 2.88 2.64 2.38 2.55 2.43 2.76 2.44 4.02 2.98 3.98 3.12 3.56 3.14 3.34 3.38 3.85 2.64 2.94
Revenues and royalties payable 5.92 5.13 5.41 6.35 7.68 9.09 7.68 6.93 6.85 5.13 4.44 6.68 5.44 4.57 5.54 5.32 4.86 4.64 4.70 4.59 4.69 3.29 4.33
Short-term debt 2.01 1.04 1.05 1.06 1.08 0.00 0.00 0.00 0.00 0.00 1.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.83 1.27 0.95 1.21
Current liabilities associated with discontinued operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.48 4.26 2.64 3.35 1.19 11.38 0.00 0.35 0.00 18.15 0.00
Other current liabilities 2.46 1.64 2.06 2.06 2.69 5.68 6.92 5.38 7.24 7.75 6.09 5.41 2.61 2.21 1.79 2.26 1.90 1.68 2.85 2.22 6.16 3.70 3.40
Current liabilities 13.74% 11.43% 12.51% 13.09% 14.69% 17.65% 17.24% 14.68% 16.65% 15.31% 14.40% 14.53% 16.55% 14.02% 13.94% 14.05% 11.52% 20.82% 10.89% 11.38% 15.98% 28.73% 11.88%
Long-term debt 23.41 26.41 26.37 26.09 26.30 27.86 29.71 30.83 30.83 32.40 34.42 43.36 41.61 41.48 38.54 31.30 29.84 25.79 32.01 29.57 28.71 19.86 32.84
Lease liabilities 1.20 1.28 1.09 1.08 1.10 1.12 1.15 1.20 1.22 1.29 1.27 2.48 2.37 2.37 2.20 1.78 1.70 1.58 1.65 0.00 0.00 0.00 0.00
Asset retirement obligations 2.64 2.35 2.33 2.15 2.11 1.95 2.03 2.23 2.19 2.24 2.22 3.61 3.85 3.78 3.46 2.77 3.65 3.17 5.19 5.26 5.47 3.73 3.89
Other long-term liabilities 3.51 3.67 3.70 3.79 3.99 4.09 4.47 4.99 6.08 6.22 6.20 5.56 3.60 4.42 4.14 3.11 2.99 2.59 2.53 2.36 3.04 2.14 1.93
Long-term liabilities associated with discontinued operations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.52 1.56 1.46 1.35 1.22 1.14 0.00 0.00 0.00 0.00 0.00
Deferred income taxes 6.91 7.12 6.59 6.17 5.08 3.25 2.07 1.37 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.49 3.63 2.90 4.27 4.48 2.69 1.48 2.64
Long-term liabilities 37.67% 40.83% 40.08% 39.29% 38.59% 38.26% 39.44% 40.61% 40.32% 42.15% 44.12% 55.01% 52.96% 53.61% 49.80% 42.79% 43.03% 37.17% 45.65% 41.67% 39.91% 27.21% 41.31%
Total liabilities 51.41% 52.26% 52.59% 52.38% 53.28% 55.91% 56.68% 55.30% 56.97% 57.46% 58.52% 69.54% 69.51% 67.63% 63.75% 56.84% 54.55% 57.99% 56.54% 53.05% 55.89% 55.94% 53.18%
Common stock, $0.10 par value 0.26 0.27 0.27 0.27 0.28 0.28 0.30 0.31 0.32 0.34 0.33 0.38 0.37 0.37 0.34 0.28 0.27 0.25 0.23 0.23 0.23 0.17 0.18
Additional paid-in capital 25.38 26.25 27.09 29.18 29.53 30.44 33.85 36.32 38.97 40.81 39.95 27.91 26.63 26.26 24.24 19.94 19.56 20.13 19.46 22.93 25.86 23.62 24.80
Retained earnings 22.83 21.15 20.12 18.11 16.90 13.40 9.24 8.05 3.56 1.21 1.07 2.10 3.40 5.66 11.65 22.95 26.48 22.45 18.14 18.65 12.42 0.02 1.61
Accumulated other comprehensive earnings (loss) -0.47 -0.49 -0.49 -0.49 -0.55 -0.56 -0.60 -0.63 -0.47 -0.50 -0.51 -1.28 -1.12 -1.13 -1.06 -0.87 -0.81 -0.70 5.89 5.25 5.77 3.74 3.83
Treasury stock, at cost 0.00 0.00 -0.12 0.00 0.00 -0.06 -0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.06 -0.12 -0.26 -0.11 -0.17 -0.08 -0.04
Stockholders’ equity attributable to Devon 48.01% 47.19% 46.87% 47.08% 46.16% 43.50% 42.70% 44.05% 42.38% 41.86% 40.83% 29.11% 29.28% 31.16% 35.17% 42.30% 45.45% 42.01% 43.46% 46.95% 44.11% 27.48% 30.38%
Noncontrolling interests 0.58 0.55 0.54 0.54 0.57 0.59 0.62 0.65 0.65 0.68 0.65 1.35 1.21 1.22 1.09 0.86 0.00 0.00 0.00 0.00 0.00 16.58 16.44
Total equity 48.59% 47.74% 47.41% 47.62% 46.72% 44.09% 43.32% 44.70% 43.03% 42.54% 41.48% 30.46% 30.49% 32.37% 36.25% 43.16% 45.45% 42.01% 43.46% 46.95% 44.11% 44.06% 46.82%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Current Liabilities Trends
Current liabilities as a percentage of total liabilities and equity demonstrate notable fluctuations throughout the periods. There is a significant spike in June 2018 (28.73%) primarily driven by a large figure in current liabilities associated with discontinued operations (18.15%). Beyond that, current liabilities generally fluctuate between 11% and 17%, with no consistent upward or downward trend. Other current liabilities also show high variability, peaking at 7.75% in June 2021 and dipping to around 1.64%-2.69% in mid to late 2023.
Long-Term Debt and Liabilities
Long-term debt rises sharply from 32.84% in March 2018 to a peak of 43.36% by December 2020, followed by a gradual decline to 23.41% by September 2023. Lease liabilities, introduced in 2019 data, steadily decrease from around 2.48% at the end of 2020 to about 1.2% by late 2023. Asset retirement obligations tend to decline slightly over the period, dropping from around 5.47% in late 2018 to approximately 2.64% by the last period. Other long-term liabilities increase up to around 6.2% in early 2021, then trend downward steadily to 3.51% by September 2023.
Deferred Income Taxes
Deferred income taxes show a growing trend during 2021 and 2022, increasing from 1.37% in March 2021 to a peak of 7.12% in September 2022. This indicates a rising deferred tax liability which starts to moderate slightly towards the end of the dataset but remains elevated relative to earlier years.
Total Liabilities
Total liabilities peak notably during 2020, reaching nearly 70% of total liabilities and equity in the third and fourth quarters, likely reflecting heightened debt or obligations during that period. Afterward, a gradual reduction is observed, bringing total liabilities down to around 51.41% by September 2023.
Equity Components
Stockholders’ equity attributable to the company shows a pronounced dip from 46.95% in December 2018 to approximately 29.11% by December 2020, coinciding with the peak in total liabilities. Following this low, equity rebounds significantly, rising back to near 48% by September 2023. Retained earnings mirror this trend, increasing overall but with some volatility, including a substantial increase in late 2018 and early 2019, then dipping sharply in 2020, and subsequently recovering. Additional paid-in capital grows substantially from below 20% in early 2019 to almost 40% in early 2021 before gradually decreasing to about 25% by late 2023. Accumulated other comprehensive earnings shift from positive to negative territory after 2018, remaining consistently negative (around -0.5% to -1.3%) through the subsequent periods. Treasury stock data is limited and shows minor negative values at scattered points.
Liquidity Indicators
Accounts payable fluctuate moderately between approximately 2.4% and 4.0% without a clear trend. Revenues and royalties payable rise gradually over the period, moving from about 4.3% in early 2018 to a peak near 9.09% in mid-2022, before declining moderately toward 5.92% by late 2023. Short-term debt shows low and relatively stable levels, near 1% throughout the dataset, with a slight increase to 2.01% by September 2023.
Discontinued Operations
Liabilities associated with discontinued operations demonstrate sporadic presence with a notable spike in June 2018 (11.38% long-term and 18.15% current liabilities). These liabilities subsequently decline and do not appear in recent periods, suggesting completion or divestiture of associated operations.
Overall Capital Structure
The company's capital structure experienced significant shifts during 2018-2020, with an increase in liabilities and a corresponding decrease in equity in 2020, then a notable recovery of equity through 2021-2023. This pattern may reflect responses to external economic or industry factors such as market volatility or external shocks. The equity ratio generally recovers and stabilizes near 48% by late 2023, indicating a balanced leverage position compared to earlier extremes.