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 Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
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Exxon Mobil Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 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).
Overall, the balance sheet reveals a dynamic period for the company, characterized by fluctuations in both liabilities and equity. Total liabilities generally increased from March 2021 through June 2024, before decreasing in the latter half of 2024 and into the first half of 2025. Total equity exhibited a more consistent upward trend, particularly pronounced from late 2021 through mid-2024, followed by a slight decline. The composition of liabilities and equity also underwent notable shifts throughout the observed period.
- Current Liabilities
- Current liabilities remained relatively stable between March 2021 and December 2021, fluctuating between approximately US$60 billion and US$63 billion. A significant increase was observed in the first half of 2022, peaking at US$80.1 billion, before decreasing to around US$65 billion by the end of 2022. This trend continued into 2023, with a peak of US$71.2 billion in September, followed by a decrease. A slight increase occurred in the first half of 2024, and then a decrease through June 2025. Accounts payable and accrued liabilities consistently represented the largest component of current liabilities throughout the period.
- Long-Term Debt
- Long-term debt, excluding amounts due within one year, demonstrated a gradual decline from US$45.1 billion in March 2021 to US$32.2 billion in March 2023. A moderate increase occurred in June 2024, but it decreased again by June 2025. This suggests a strategic reduction in long-term borrowing. Postretirement benefit reserves also showed a decreasing trend, falling from US$21.8 billion in March 2021 to US$8.8 billion by December 2025. Deferred income tax liabilities increased substantially from US$18.1 billion in March 2021 to US$40.2 billion in December 2025, indicating a growing deferred tax obligation.
- Equity Trends
- Common stock without par value remained relatively stable until a substantial increase in June 2024, likely due to stock issuance. Earnings reinvested consistently formed the largest portion of total equity, growing from US$383.0 billion in March 2021 to US$482.5 billion in December 2025, reflecting accumulated profits. Accumulated other comprehensive loss remained negative throughout the period, but its magnitude decreased over time. Common stock held in treasury experienced a significant decrease in June 2024, coinciding with the increase in common stock, suggesting a reduction in share repurchases. Overall, total equity increased from US$164.1 billion in March 2021 to US$266.6 billion in June 2025.
- Notes and Loans Payable
- Notes and loans payable exhibited a significant decrease from US$18.2 billion in March 2021 to a low of US$0.6 billion in December 2022. A subsequent increase was observed, reaching US$9.2 billion by September 2025, indicating renewed short-term borrowing activity.
- Total Liabilities and Equity
- Total liabilities and equity increased from US$333.8 billion in March 2021 to US$460.7 billion in June 2024, before decreasing to US$448.9 billion in June 2025. The increase was primarily driven by growth in equity and, initially, in liabilities. The subsequent decrease in the latter half of the period was influenced by a reduction in both liabilities and a slight decrease in equity.