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.

Exxon Mobil Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Notes and loans payable	4,955)	4,090)	634)	4,276)	20,458)
Trade payables	36,145)	31,249)	33,169)	26,623)	17,499)
Payables to equity companies	10,378)	11,885)	14,585)	8,885)	6,476)
Accrued taxes other than income taxes	3,577)	3,817)	3,969)	3,896)	3,408)
Other	11,197)	11,086)	11,474)	11,362)	7,838)
Accounts payable and accrued liabilities	61,297)	58,037)	63,197)	50,766)	35,221)
Income taxes payable	4,055)	3,189)	5,214)	1,601)	684)
Current liabilities	70,307)	65,316)	69,045)	56,643)	56,363)
Long-term debt, excluding due within one year	36,755)	37,483)	40,559)	43,428)	47,182)
Postretirement benefits reserves	9,700)	10,496)	10,045)	18,430)	22,415)
Deferred income tax liabilities	39,042)	24,452)	22,874)	20,165)	18,165)
Long-term obligations to equity companies	1,346)	1,804)	2,338)	2,857)	3,253)
Other long-term obligations	25,719)	24,228)	21,733)	21,717)	21,242)
Long-term liabilities	112,562)	98,463)	97,549)	106,597)	112,257)
Total liabilities	182,869)	163,779)	166,594)	163,240)	168,620)
Common stock without par value	46,238)	17,781)	15,752)	15,746)	15,688)
Earnings reinvested	470,903)	453,927)	432,860)	392,059)	383,943)
Accumulated other comprehensive loss	(14,619)	(11,989)	(13,270)	(13,764)	(16,705)
Common stock held in treasury	(238,817)	(254,917)	(240,293)	(225,464)	(225,776)
Total ExxonMobil share of equity	263,705)	204,802)	195,049)	168,577)	157,150)
Noncontrolling interests	6,901)	7,736)	7,424)	7,106)	6,980)
Total equity	270,606)	212,538)	202,473)	175,683)	164,130)
Total liabilities and equity	453,475)	376,317)	369,067)	338,923)	332,750)

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).

Liabilities Trends: The total liabilities exhibit fluctuations over the observed periods, declining from approximately 168.6 billion USD in 2020 to a low of 163.2 billion USD in 2021, then increasing moderately in subsequent years to reach about 182.9 billion USD by 2024. Current liabilities showed some variability, with a peak near 69.0 billion USD in 2022, a decrease in 2023, and rising again to above 70.3 billion USD in 2024.; Specifically, notes and loans payable dropped sharply from 20.5 billion USD in 2020 to a considerably lower level by 2022, before recovering somewhat in 2023 and 2024. Trade payables, on the other hand, have increased consistently from 17.5 billion USD in 2020 to 36.1 billion USD by 2024, indicating growing short-term obligations to suppliers. Payables to equity companies rose substantially between 2020 and 2022, peaking at nearly 14.6 billion USD, before decreasing in the following years.; Income taxes payable displayed significant volatility, rising from 684 million USD in 2020 to over 5.2 billion USD in 2022, then falling and increasing again, reflecting variable tax payment schedules or obligations. Long-term debt experienced a steady decline from 47.2 billion USD in 2020 to approximately 36.8 billion USD by 2024.; Postretirement benefits reserves declined markedly during the period analyzed, from over 22.4 billion USD in 2020 to under 10.0 billion USD in 2024, suggesting possible changes in obligations or plan assumptions. Deferred income tax liabilities increased steadily, with a substantial jump to nearly 39.0 billion USD in 2024. Other long-term obligations showed a moderate upward trend throughout the timeframe.
Equity Trends: Total equity experienced continuous growth across the years, rising from approximately 164.1 billion USD in 2020 to 270.6 billion USD in 2024. The common stock without par value remained relatively stable until 2023 and then surged significantly to 46.2 billion USD in 2024.; Earnings reinvested consistently increased, indicating ongoing profitability and retained earnings accumulation, growing from roughly 384.0 billion USD in 2020 to almost 471.0 billion USD by 2024. Meanwhile, accumulated other comprehensive loss moderated slightly over the first several years before increasing again in 2024, suggesting fluctuations in unrealized losses or gains.; Common stock held in treasury became more negative over time, especially from 2021 through 2023, implying greater treasury stock holdings, but slightly decreased in negativity in 2024. The total ExxonMobil share of equity steadily expanded, reflecting overall equity growth in the company’s ownership portion. Noncontrolling interests remained relatively stable with minor fluctuations.
Balance Sheet Composition: The composition of total liabilities and equity shifted over the period, with total assets increasing from approximately 332.8 billion USD in 2020 to 453.5 billion USD in 2024. This growth appears driven largely by increases in equity, supported by retained earnings, and changes in common stock components, while liabilities demonstrated a less consistent pattern.
Conclusion: The data reflects an overall expansion of the company’s financial position between 2020 and 2024, characterized by significant growth in equity and assets. Liabilities have fluctuated with some long-term debt reduction and increases in current obligations such as trade payables. The steady rise in retained earnings points to sustained earnings performance and reinvestment. Variations in deferred tax liabilities and postretirement benefits reserves indicate changing tax and benefit plan obligations. The financial structure appears to balance increasing equity against manageable liability levels over time.

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Exxon Mobil Corp. (NYSE:XOM)

Balance Sheet: Liabilities and Stockholders’ Equity