Name: Ecolab Inc. (NYSE:ECL) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

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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Ecolab Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Short-term debt	411,000)	17,300)	380,600)	743,600)	564,400)
Accounts payable	1,384,200)	1,160,600)	1,284,300)	1,255,600)	1,177,100)
Compensation and benefits	509,500)	469,300)	599,500)	579,700)	549,400)
Income taxes	104,300)	96,100)	142,800)	100,600)	183,600)
Discounts and rebates	341,100)	304,100)	331,400)	291,300)	302,800)
Dividends payable	146,300)	137,200)	135,600)	132,400)	118,600)
Interest payable	47,700)	51,700)	40,900)	44,500)	50,700)
Taxes payable, other than income	154,200)	151,800)	113,400)	116,900)	129,900)
Derivative liabilities	—)	25,800)	5,800)	20,100)	62,200)
Restructuring	39,100)	98,100)	107,100)	73,700)	36,000)
Contract liability	91,700)	80,400)	84,700)	75,800)	—)
Current operating lease liabilities	115,100)	125,600)	153,200)	—)	—)
Other	209,000)	214,200)	251,300)	251,400)	257,100)
Other current liabilities	1,144,200)	1,188,900)	1,223,400)	1,006,100)	957,300)
Current liabilities	3,553,200)	2,932,200)	3,630,600)	3,685,600)	3,431,800)
Long-term debt, excluding current maturities	8,347,200)	6,669,300)	5,973,500)	6,301,600)	6,758,300)
Postretirement health care and pension benefits	894,200)	1,226,200)	1,088,000)	944,300)	1,025,500)
Deferred income taxes	622,000)	483,900)	740,400)	764,600)	642,800)
Noncurrent operating lease liabilities	282,600)	300,500)	425,200)	—)	—)
Other liabilities	254,100)	312,400)	285,600)	324,800)	415,300)
Noncurrent liabilities	10,400,100)	8,992,300)	8,512,700)	8,335,300)	8,841,900)
Total liabilities	13,953,300)	11,924,500)	12,143,300)	12,020,900)	12,273,700)
Common stock	364,100)	362,600)	359,600)	357,000)	354,700)
Additional paid-in capital	6,464,600)	6,235,000)	5,907,100)	5,633,200)	5,435,700)
Retained earnings	8,814,500)	8,243,000)	9,993,700)	8,909,500)	8,045,400)
Accumulated other comprehensive loss	(1,634,800)	(1,994,400)	(2,089,700)	(1,761,700)	(1,642,300)
Treasury stock	(6,784,200)	(6,679,700)	(5,485,400)	(5,134,800)	(4,575,000)
Total Ecolab shareholders’ equity	7,224,200)	6,166,500)	8,685,300)	8,003,200)	7,618,500)
Noncontrolling interest	28,900)	35,000)	40,500)	50,400)	70,200)
Total equity	7,253,100)	6,201,500)	8,725,800)	8,053,600)	7,688,700)
Total liabilities and equity	21,206,400)	18,126,000)	20,869,100)	20,074,500)	19,962,400)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Total liabilities remained relatively stable between 2017 and 2020, fluctuating around 12 billion USD, before increasing to 13.95 billion USD by the end of 2021. Simultaneously, total equity exhibited a volatile trajectory, peaking in 2019 at 8.73 billion USD before experiencing a significant contraction in 2020 to 6.20 billion USD and a partial recovery to 7.25 billion USD in 2021.

Current Liability Trends: Current liabilities showed a notable decline in 2020 to 2.93 billion USD from a 2019 peak of 3.63 billion USD, primarily driven by a sharp reduction in short-term debt, which reached a period low of 17.3 million USD. However, these levels rebounded by 2021, with current liabilities rising to 3.55 billion USD as short-term debt increased to 411 million USD and accounts payable reached a five-year high of 1.38 billion USD.
Long-Term Debt and Noncurrent Obligations: A significant expansion in noncurrent liabilities occurred in 2021, reaching 10.40 billion USD. This growth was largely attributable to long-term debt, which surged to 8.35 billion USD in 2021 compared to 6.67 billion USD in 2020. This indicates a substantial increase in long-term borrowing toward the end of the analyzed period.
Shareholders' Equity Composition: Equity dynamics were heavily influenced by treasury stock and retained earnings. Treasury stock balances became increasingly negative, moving from 4.58 billion USD in 2017 to 6.78 billion USD in 2021, signaling consistent share repurchases. Retained earnings peaked in 2019 at 9.99 billion USD but suffered a sharp decrease to 8.24 billion USD in 2020, contributing to the overall reduction in total equity during that year.
Financial Leverage and Solvency: The relationship between total liabilities and total equity shifted toward higher leverage by 2021. While the company maintained a relatively stable liability-to-equity profile through 2019, the combination of an 8.35 billion USD long-term debt load and a reduced equity base relative to 2019 peaks suggests a higher reliance on debt financing to support the balance sheet.

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