Stock Analysis on Net

Eli Lilly & Co. (NYSE:LLY)

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.

Eli Lilly & Co., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Short-term borrowings and current maturities of long-term debt 5,117,100 6,904,500 1,501,100 1,538,300 8,700
Accounts payable 3,228,600 2,598,800 1,930,600 1,670,600 1,606,700
Employee compensation 2,093,900 1,650,400 1,059,800 958,100 997,200
Sales rebates and discounts 11,539,300 11,689,000 8,784,100 6,845,800 5,853,000
Dividends payable 1,346,300 1,169,200 1,017,200 885,500 770,600
Other current liabilities 5,051,400 3,281,300 2,845,400 3,154,400 3,245,400
Current liabilities 28,376,600 27,293,200 17,138,200 15,052,700 12,481,600
Long-term debt, excluding current maturities 28,527,100 18,320,800 14,737,500 15,346,400 16,586,600
Accrued retirement benefits 1,300,500 1,438,800 1,305,100 1,954,100 4,094,500
Long-term income taxes payable 4,060,900 3,849,200 3,709,600 3,920,000 3,837,800
Other noncurrent liabilities 2,178,200 2,240,600 1,824,000 3,378,000 3,807,400
Noncurrent liabilities 36,066,700 25,849,400 21,576,200 24,598,500 28,326,300
Total liabilities 64,443,300 53,142,600 38,714,400 39,651,200 40,807,900
Common stock, no par value 592,400 593,600 594,100 596,300 598,200
Additional paid-in capital 7,439,300 7,250,400 6,921,400 6,833,400 6,778,500
Retained earnings 13,545,000 10,312,300 10,042,600 8,958,500 7,830,200
Employee benefit trust (3,013,200) (3,013,200) (3,013,200) (3,013,200) (3,013,200)
Accumulated other comprehensive loss (4,321,900) (4,327,000) (3,844,600) (4,343,100) (6,496,400)
Cost of common stock in treasury (49,500) (44,200) (50,500) (52,700) (55,700)
Total Eli Lilly and Company shareholders’ equity 14,192,100 10,771,900 10,649,800 8,979,200 5,641,600
Noncontrolling interests 79,500 91,800 125,600 175,600 183,600
Total equity 14,271,600 10,863,700 10,775,400 9,154,800 5,825,200
Total liabilities and equity 78,714,900 64,006,300 49,489,800 48,806,000 46,633,100

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).


The financial data reveals significant changes in liabilities and equity components over the five-year period ending December 31, 2024.

Short-term borrowings and current maturities of long-term debt
There is a marked increase from a relatively low base in 2020 at 8,700 thousand US dollars to a peak of 6,904,500 thousand in 2023, before declining to 5,117,100 thousand in 2024. This suggests increasing reliance on short-term or near-term debt financing, with some reduction in the most recent year.
Accounts payable
A steady upward trend is observed, rising from 1,606,700 thousand in 2020 to 3,228,600 thousand in 2024, indicating growing obligations to suppliers and possibly increased business activity or extended payment terms.
Employee compensation
Fluctuations are present initially, with a dip in 2021 followed by a consistent and strong increase to 2,093,900 thousand in 2024. This reflects rising personnel costs, potentially due to workforce expansion, salary increases, or incentives.
Sales rebates and discounts
This item exhibits a robust increasing pattern from 5,853,000 thousand in 2020 to a peak of 11,689,000 thousand in 2023, slightly retracting to 11,539,300 thousand in 2024. The increase implies an enhancement in customer rebates and discounts, possibly aimed at supporting sales growth or managing competitive pricing.
Dividends payable
A consistent increase is noted from 770,600 thousand in 2020 to 1,346,300 thousand in 2024, indicating higher dividend commitments possibly aligning with improved profitability or a policy of increased shareholder returns.
Other current liabilities
These liabilities show variability, decreasing initially from 3,245,400 thousand in 2020 to 2,845,400 thousand in 2022, then rising sharply to 5,051,400 thousand in 2024, signifying fluctuating or growing miscellaneous obligations.
Current liabilities
The total current liabilities more than double over the period, from 12,481,600 thousand in 2020 to 28,376,600 thousand in 2024, indicating a substantial increase in short-term financial obligations.
Long-term debt, excluding current maturities
A declining trend from 16,586,600 thousand in 2020 to 14,737,500 thousand in 2022 is reversed by growth to 28,527,100 thousand in 2024. This reflects an increasing long-term debt level in recent years, potentially signaling leveraged financing strategies or expansion efforts.
Accrued retirement benefits
These benefits show a steep decline from 4,094,500 thousand in 2020 to around 1,300,500 thousand in 2024, indicating possible changes in pension liabilities, plan funding, or actuarial revaluations.
Long-term income taxes payable
This liability remains relatively stable with mild increases over the period, from 3,837,800 thousand to 4,060,900 thousand, suggesting consistent deferred tax obligations.
Other noncurrent liabilities
A downward trend is evident from 3,807,400 thousand in 2020 to approximately 2,178,200 thousand in 2024, indicating a reduction in miscellaneous long-term liabilities.
Noncurrent liabilities
Overall, noncurrent liabilities decrease initially from 28,326,300 thousand in 2020 to 21,576,200 thousand in 2022, then increase to 36,066,700 thousand in 2024. This pattern aligns with the changes seen in long-term debt and other components.
Total liabilities
Total liabilities show a slight decline through 2022 but then a significant surge to 64,443,300 thousand in 2024, evidencing an overall leveraged position increase.
Common stock, no par value
This line remains relatively stable, slightly decreasing from 598,200 thousand in 2020 to 592,400 thousand in 2024, indicating no major equity issuance or repurchase affecting common stock.
Additional paid-in capital
A steady increase from 6,778,500 thousand to 7,439,300 thousand suggests modest equity financing or retained capital contributions over time.
Retained earnings
Significant growth in retained earnings from 7,830,200 thousand in 2020 to 13,545,000 thousand in 2024 indicates sustained profitability and earnings retention.
Employee benefit trust
This remains a constant negative figure at -3,013,200 thousand, reflecting consistent trust-related liabilities or investments.
Accumulated other comprehensive loss
The loss narrows from -6,496,400 thousand in 2020 to about -4,321,900 thousand in 2024, with some fluctuations, suggesting some recovery or decreased unrealized losses.
Cost of common stock in treasury
This liability decreases slightly in magnitude from -55,700 thousand in 2020 to -49,500 thousand in 2024, indicating limited treasury stock activity.
Total shareholders’ equity
A strong upward trajectory is observed from 5,641,600 thousand in 2020 to 14,192,100 thousand in 2024, demonstrating enhanced net asset value attributable to shareholders.
Noncontrolling interests
A decrease from 183,600 thousand to 79,500 thousand suggests a reduction in minority ownership stakes or consolidation effects.
Total equity
Correspondingly, total equity increases markedly from 5,825,200 thousand to 14,271,600 thousand, highlighting robust equity growth.
Total liabilities and equity
The combined figure grows consistently from 46,633,100 thousand in 2020 to 78,714,900 thousand in 2024, reflecting overall balance sheet expansion and asset growth.