Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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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Eli Lilly & Co., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
The balance sheet reflects a period of significant expansion in both total liabilities and total equity from March 2021 through June 2026. Total liabilities and equity grew from 46.8 billion USD to 142.3 billion USD, indicating a substantial increase in the company's overall capital base and operational scale.
- Long-Term Debt and Noncurrent Liabilities
- A pronounced upward trend is evident in noncurrent liabilities, which rose from 28.0 billion USD in March 2021 to 60.7 billion USD by June 2026. This growth is primarily driven by long-term debt, which increased from 16.2 billion USD to 47.9 billion USD over the analyzed period. This suggests a strategic reliance on long-term borrowing to fund expansion or capital investments.
- Current Liabilities and Operational Obligations
- Current liabilities exhibited a sharp increase, moving from 11.7 billion USD in March 2021 to 47.7 billion USD in June 2026. A primary driver of this increase is the growth in sales rebates and discounts, which climbed from 5.8 billion USD to 21.1 billion USD. Additionally, other current liabilities showed significant volatility and a strong upward trajectory, particularly from 2024 onwards, peaking at 11.7 billion USD in June 2026.
- Shareholders' Equity and Retained Earnings
- Total equity grew from 7.1 billion USD in March 2021 to 33.9 billion USD in June 2026. This expansion was driven predominantly by retained earnings, which increased from 9.2 billion USD to 31.9 billion USD, reflecting strong internal profit accumulation. Meanwhile, common stock and additional paid-in capital remained relatively stable, indicating that the equity growth was organic rather than the result of new share issuances.
- Capital Structure and Solvency Trends
- While total equity has increased nearly fivefold, total liabilities have grown at a similar or faster pace, rising from 39.7 billion USD to 108.4 billion USD. The increase in both long-term debt and current operational liabilities suggests a more leveraged capital structure over time to support the company's scaling activities.