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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Exxon Mobil Corp. pages available for free this week:
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Exxon Mobil Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 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 exhibits a significant expansion in total assets and liabilities and equity, growing from 333,770 million USD in March 2021 to 464,410 million USD by March 2026. This growth is characterized by a strategic shift toward equity-based financing and a disciplined reduction in long-term debt, accompanied by a substantial increase in retained earnings.
- Liability Composition and Debt Trends
- A consistent reduction in long-term debt is observed, falling from 45,137 million USD in early 2021 to 33,130 million USD by March 2026. Conversely, current liabilities have trended upward, particularly driven by accounts payable and accrued liabilities, which rose from 41,017 million USD to 77,088 million USD over the analyzed period. A notable spike in deferred income tax liabilities occurred in June 2024, jumping from approximately 24 billion USD to over 40 billion USD, remaining at that elevated level through the end of the period.
- Equity Evolution and Capitalization
- Total equity shows a strong upward trajectory, increasing from 164,101 million USD in March 2021 to 260,996 million USD by March 2026. A primary driver of this growth is earnings reinvested, which grew steadily from 382,953 million USD to 482,344 million USD. A significant capitalization event is evident in June 2024, where common stock without par value increased abruptly from 17,971 million USD to 46,781 million USD, contributing to a sharp rise in total ExxonMobil share of equity.
- Shareholder Return and Treasury Activity
- There is a persistent increase in the value of common stock held in treasury, moving from -225,773 million USD to -263,291 million USD. This trend indicates an aggressive and continuous share repurchase program, which serves to offset the increase in retained earnings and manage the total equity base.
- Operational Obligations
- Other long-term obligations have remained relatively stable, fluctuating between 20 billion and 26 billion USD. However, postretirement benefits reserves saw a significant decline from 21,835 million USD in March 2021 to 8,940 million USD by March 2026, suggesting a substantial settlement of these obligations or changes in actuarial assumptions.
Overall, the financial position is characterized by improved solvency, as indicated by the declining long-term debt and expanding equity base. The increase in current liabilities suggests an expansion in operational scale or a shift in short-term financing strategies, while the consistent growth in reinvested earnings underscores strong internal capital generation.