Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Eli Lilly & Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 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), 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 of short-term borrowings relative to total liabilities and equity fluctuates considerably over the periods. Early figures show a decline from 7.9% to below 1%, followed by intermittent rises and falls, reaching a peak of 10.79% in late 2023. Overall, this indicates some volatility in short-term debt management.
- Accounts payable
- Accounts payable as a percentage of total liabilities and equity remains relatively stable, oscillating modestly between approximately 2.9% and 4.5%. There is a slight upward drift starting from 2023, peaking around 4.5%, suggesting a marginal increase in trade payables or credit usage over time.
- Employee compensation
- Employee compensation exhibits a cyclical pattern with peaks typically reaching about 2.5-2.6% and troughs around 1.25%. The data indicates seasonal fluctuations but no sustained upward or downward trend across the years, reflecting consistent compensation expense relative to company size.
- Sales rebates and discounts
- There is a notable increasing trend in sales rebates and discounts, starting from approximately 11.4% and peaking near 19.9% in early 2023. Subsequent periods show a decline but still remain elevated compared to earlier years, indicating heightened rebate or discount activities affecting gross revenue net of these deductions.
- Dividends payable
- Dividends payable data is sporadic but shows values generally in the range of 1.3% to 2.1%. This suggests a consistent but modest proportion of liabilities related to upcoming dividend obligations.
- Short-term income taxes payable
- Short-term income tax liabilities appear only in later periods, showing a sharp increase peaking at 8.22% in December 2024. This sharp rise may indicate a significant tax liability or payment scheduling change in recent years.
- Other current liabilities
- Other current liabilities generally decrease over the periods, from around 7% to below 5% towards the later dates, indicating a reduction in miscellaneous current financial obligations.
- Current liabilities
- Current liabilities as a whole show some oscillation but an overall upward trend, rising from just under 31% to approximately 38% by late 2025. This growth reflects an increasing short-term obligation burden relative to total financing.
- Long-term debt, excluding current maturities
- Long-term debt proportions fluctuate but show a decreasing tendency from over 37% to values mostly in the 28-38% range. Notably, spikes occur near 38-39% in later years, suggesting periodic increases in long-term debt financing.
- Long-term income taxes payable
- This liability remains relatively stable, mostly fluctuating between 4.5% and 8.8%, with a slight downward trend observed in the most recent years. This may reflect tax strategy or changes in deferred tax obligations.
- Other noncurrent liabilities
- This category shows a clear declining trend, decreasing steadily from around 18.7% to just over 3% by late 2025, suggesting significant reductions in other long-term obligations.
- Noncurrent liabilities
- Noncurrent liabilities overall decline from approximately 61.5% to the low 40% range. This reflects a substantial reduction in the company’s long-term debt and other noncurrent obligations relative to total financing sources.
- Total liabilities
- Total liabilities decrease from over 92% to just under 80%, indicating a gradual improvement in the company's leverage ratio with a higher share of equity in the capital structure over time.
- Common stock
- The share of common stock in total financing declines steadily from about 1.46% to roughly 0.5%, suggesting that the book value of common stock relative to total liabilities and equity is decreasing or that other equity components are growing relatively faster.
- Additional paid-in capital
- This equity component decreases significantly from nearly 16% to around 6%, indicating possible share repurchases, amortization of share premiums, or reclassifications impacting this account's size relative to total financing.
- Retained earnings
- Retained earnings show fluctuations, peaking at approximately 21% and declining to 16-17% in some periods, then rising again near 19%. This volatility suggests varying levels of retained profits and distributions over time.
- Employee benefit trust
- The negative balance related to the employee benefit trust reduces in magnitude from about -7.3% to roughly -2.6%, indicating improvements in this liability or asset account that favorably impact shareholders' equity.
- Accumulated other comprehensive loss
- This loss shows a consistent reduction in absolute value, improving from approximately -16.75% to near -2.8%, reflecting a decrease in accumulated unrealized losses or valuation adjustments.
- Cost of common stock in treasury
- This relatively minor negative equity component remains fairly constant around -0.1%, indicating stable treasury stock levels relative to total financing.
- Total shareholders’ equity
- Total equity rises from under 8% to above 20%, signaling a strengthened equity base relative to total liabilities and equity, consistent with a reduction in leverage and improved financial stability.
- Noncontrolling interests
- Noncontrolling interests decrease from about 0.4% to under 0.1%, implying reduced ownership by minority shareholders or consolidation effects.
- Total liabilities and equity
- By definition, this remains constant at 100% throughout all periods, serving as the baseline for all ratio calculations.