Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Exxon Mobil Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity
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 several notable trends in the structure of liabilities and equity over the five-year period analyzed.
- Current liabilities
- These have generally displayed a slight fluctuation, peaking at 18.71% in 2022 before gradually decreasing to 15.5% by 2024. The component "Accounts payable and accrued liabilities" increased from 10.58% in 2020 to a high of 17.12% in 2022, then declined to 13.52% in 2024. Similarly, "Trade payables" rose steadily from 5.26% in 2020 to a peak of 8.99% in 2022, followed by a mild decline.
- Short-term borrowing
- "Notes and loans payable" as a percentage of total liabilities and equity decreased sharply from 6.15% in 2020 to a low of 0.17% in 2022, then slightly increased but stabilized at 1.09% in 2023 and 2024.
- Long-term liabilities
- There is a clear downward trend in this category, dropping from 33.74% in 2020 to 24.82% in 2024. "Long-term debt, excluding due within one year", specifically, decreased steadily from 14.18% to 8.11% over the period. Other components such as "Postretirement benefits reserves" and "Long-term obligations to equity companies" also showed declines, whereas "Deferred income tax liabilities" bucked this trend by gradually increasing from 5.46% in 2020 to 8.61% in 2024.
- Total liabilities
- Overall, total liabilities decreased consistently from 50.67% in 2020 to 40.33% in 2024, indicating a reduction in reliance on debt and other obligations relative to total capital structure.
- Equity components
- The proportion of total equity rose from 49.33% in 2020 to 59.67% in 2024, showing strengthening of the equity base. "Total ExxonMobil share of equity" increased from 47.23% to 58.15%, reflecting enhanced shareholder value or retained earnings growth. The "Earnings reinvested" metric also rose until 2023, peaking at 120.62%, before declining to 103.84% in 2024. "Common stock without par value" saw a significant increase from 4.71% in 2020 to 10.2% in 2024, which might be connected to share issuances or revaluation.
- Equity adjustments
- "Accumulated other comprehensive loss" showed improvement over time, with the negative balance narrowing from -5.02% to around -3.2%, suggesting reducing unrealized losses or other comprehensive expense items. Conversely, "Common stock held in treasury" remained a substantial negative figure, although it decreased in magnitude from -67.85% to -52.66%, which may indicate share repurchases partially reversed.
- Minority interests
- "Noncontrolling interests" remained relatively stable, fluctuating slightly around 2%, but with a mild decrease to 1.52% by 2024.
In summary, the company has shown a strategic shift towards stronger equity financing over the period, decreasing total liabilities and especially long-term debt. The rise in total equity proportion and reinvested earnings supports a more robust capitalization. Current liabilities increased temporarily but have moderated recently. Deferred income tax liabilities is one long-term obligation category that has increased, possibly reflecting changes in tax regulations or deferred tax assets. The reduction in treasury stock negative value indicates less share buyback activity or partial reissuance. Overall, these patterns indicate an improving financial structure with reduced leverage and enhanced equity base.