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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- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Eli Lilly & Co., consolidated balance sheet: liabilities and stockholders’ equity
US$ in thousands
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.