Stock Analysis on Net

Eli Lilly & Co. (NYSE:LLY)

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

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Eli Lilly & Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 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
Short-term borrowings and current maturities of long-term debt
Accounts payable
Employee compensation
Sales rebates and discounts
Dividends payable
Short-term income taxes payable
Other current liabilities
Current liabilities
Long-term debt, excluding current maturities
Accrued retirement benefits
Long-term income taxes payable
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Common stock
Additional paid-in capital
Retained earnings
Employee benefit trust
Accumulated other comprehensive loss
Cost of common stock in treasury
Total Eli Lilly and Company shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 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), 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).

Short-term borrowings and current maturities of long-term debt
The proportion fluctuates noticeably throughout the periods, showing a low near zero in early 2020 and 2023, but peaking dramatically at 10.79% in December 2023 before falling again. This irregular pattern indicates variability in short-term financing reliance.
Accounts payable
This liability remains relatively stable over the timeframe, generally oscillating between approximately 2.9% and 4.5% of total liabilities and equity, with a slight upward trend in mid to late 2023, suggesting consistent supplier credit usage.
Employee compensation
The percentage of total liabilities and equity represented by employee compensation varies within a narrow band, mostly between 1.3% and 2.6%, seen to peak at the end of 2023 and 2024 before slightly decreasing by the first quarter of 2025. This reflects relative steadiness in employee-related liabilities.
Sales rebates and discounts
These show a clear upward trend from about 11.44% in early 2020, peaking near 19.9% in the third quarter of 2023, then declining steadily towards approximately 12.92% by the first quarter of 2025. The significant increase suggests expanding rebate programs or discount expenses, possibly impacting gross margins over time.
Dividends payable
Data available intermittently shows that dividend obligations remain around 1.6% to 2.1%, with minor fluctuations but no clear trend, indicating a relatively stable dividend payout policy in proportion to total liabilities and equity.
Short-term income taxes payable
Reported only toward the end of the dataset, these liabilities rise sharply from 1.42% in the first quarter of 2024 to 6.91% by the end of that year, suggesting increased tax liabilities possibly linked to profitability or tax regulation changes.
Other current liabilities
These liabilities generally decrease over the period, moving from about 7.02% in early 2020 to around 4.22% by the first quarter of 2025, with intermittent fluctuations. This indicates a decline in other forms of short-term obligations.
Current liabilities
The overall current liabilities percentage fluctuates but exhibits an increasing tendency, climbing from roughly 25% in early 2021 to above 40% at the end of 2023, then stabilizing near 33-36%. This points to a growing short-term liability base prior to 2024, with subsequent partial reduction.
Long-term debt, excluding current maturities
This component declines from about 37% in late 2020 to a low near 28.6% at the end of 2023, rising again thereafter to near 38.6% by early 2025. Such movement suggests active long-term debt management, with repayments followed by new borrowings or reclassifications.
Accrued retirement benefits
These liabilities show a consistent decline from 8.84% in early 2020 down to 1.47% by early 2025, signifying decreasing obligations related to employee benefits, possibly due to funding strategies or plan changes.
Long-term income taxes payable
This item experiences a moderate decrease overall, from approximately 8.8% in 2020 to around 6% by early 2025, with minor fluctuations. The trend indicates a gradual reduction in long-term tax liabilities.
Other noncurrent liabilities
A steady decline is noticeable from nearly 10% at the outset towards 2.56% near the end of the period, indicating successful liabilities management or reclassification reducing these obligations over time.
Noncurrent liabilities
The noncurrent liabilities proportion decreases from over 60% early in 2020 to a low near 40% by the end of 2023, then rises again towards nearly 49% in early 2025. This pattern indicates shifts in long-term liabilities structure, possibly influenced by debt issuance or repayment cycles.
Total liabilities
The overall total liabilities decrease from approximately 92% in early 2020 down to about 78% by the end of 2022, followed by a gradual increase to around 82% by early 2025, reflecting strategic adjustments in debt and other liabilities relative to equity.
Common stock
This equity category systematically declines from about 1.46% in early 2020 to 0.66% by early 2025, indicating share repurchases or dilution effects downplaying the proportion of common stock in the capital structure.
Additional paid-in capital
A downward trend is evident from roughly 16% to under 8% over the period, signaling consistent reductions in capital contributed above par value relative to total liabilities and equity, possibly by share repurchases or accounting adjustments.
Retained earnings
Retained earnings increase until late 2022, peaking just above 21%, before trending downward to around 16.9% by early 2025. The initial rise suggests accumulation of earnings, with subsequent decreases possibly due to dividend payments or adjustments in equity.
Employee benefit trust
Negative values become less pronounced, moving from about -7.33% to -3.37%, indicating reduced negative impact or liabilities associated with this trust over time.
Accumulated other comprehensive loss
The respective loss narrows consistently from around -16.75% to about -4.22%, reflecting improvements in other comprehensive income components or reduced unrealized losses.
Cost of common stock in treasury
These values remain minor and relatively stable, slightly improving from around -0.14% to -0.06%, suggesting steady but small treasury stock positions in relation to total capitalization.
Total Eli Lilly and Company shareholders’ equity
Shareholders’ equity grows from 7.49% to a peak of 21.52% by the end of 2022, then decreases to approximately 17.64% by early 2025, showing a cycle of capital accumulation followed by some erosion possibly due to share repurchases or other equity transactions.
Noncontrolling interests
These interests diminish steadily from 0.29% to 0.09%, indicating a reduction in minority stakes or consolidation effects within the equity structure.
Total equity
Total equity rises from about 7.78% in early 2020 to over 21% by late 2022, before experiencing a decline to approximately 17.73% at the start of 2025, mirroring trends in shareholders’ equity and reflecting the company’s changing capital structure.
Total liabilities and equity
The sum remains constant at 100% across all periods, as expected, confirming the balanced nature of reported financial proportions.