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.
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Ford Motor Co., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
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 analysis of the financial data reveals several notable trends and fluctuations over the five-year period.
- Current Liabilities
- Payables have generally increased, rising from 22,204 million USD in 2020 to a peak of 25,992 million USD in 2023, before declining slightly to 24,128 million USD in 2024. Dealer and dealers’ customer allowances and claims experienced a significant decline in 2021 but steadily increased afterward, reaching 14,140 million USD in 2024. Deferred revenue and employee benefit plans consistently grew over the period, with deferred revenue rising from 2,161 million USD to 3,331 million USD and employee benefit plans increasing from 1,752 million USD to 2,457 million USD. Accrued interest fluctuated but showed an upward trend from 1,215 million USD to 1,346 million USD. Both current operating lease liabilities and other liabilities also exhibited steady increases.
- Non-current Liabilities
- Several pension-related liabilities, including pension obligations and OPEB (Other Post-Employment Benefits), generally showed a decline. Pension obligations decreased markedly from 10,738 million USD in 2020 to 4,470 million USD in 2024, while OPEB decreased from 6,236 million USD to 4,080 million USD over the same timeframe. Non-current operating lease liabilities increased consistently, from 991 million USD to 1,782 million USD. Other non-current liabilities and deferred revenue remained relatively stable, with minor fluctuations and a slight increase in 2024.
- Company-specific and Ford Credit Liabilities
- Ford Credit liabilities showed variability within ranges but increased overall from 49,969 million USD in current liabilities and 87,708 million USD in long-term liabilities in 2020 to 53,193 million USD and 84,675 million USD respectively in 2024. The company-excluding Ford Credit portion revealed uneven fluctuations with no clear long-term upward or downward trend. Total debt payable within one year increased noticeably, reflecting greater short-term borrowing or debt obligations towards the end of the period.
- Total Liabilities and Equity
- Total liabilities experienced a declining trend from 236,450 million USD in 2020 to 208,413 million USD in 2021, followed by a gradual increase reaching 240,338 million USD by 2024. Total equity rose substantially from 30,811 million USD in 2020 to 48,622 million USD in 2021, then decreased and stabilized near the 43,000 million USD level before rising again to 44,858 million USD in 2024. The retained earnings component showed a steep rise in 2021, then a slight decline and recovery, indicating fluctuating profitability or dividend policies. Accumulated other comprehensive loss became more negative over time, worsening from -8,294 million USD to -9,639 million USD, signifying increased unrealized losses or outflows.
- Stock and Capital
- Common and Class B stock values remained nearly constant throughout the period, reflecting stable share issuance. Capital in excess of par value showed a steady incremental increase, indicative of continual capital contributions or retained earnings reinvestment. Treasury stock levels increased sharply (more negative), suggesting active share repurchase programs over the period.
Overall, the company displays increasing leverage with both short-term and long-term liabilities rising after 2021, accompanied by steady growth in certain reserves and deferred income. Equity reflects a volatile yet generally positive trend, with significant fluctuations in retained earnings and comprehensive losses. The reduction in pension-related obligations may indicate improved funding strategies or demographic effects. Leasing liabilities are increasing consistently, which may point to greater usage of leasing arrangements. The data suggests a company that is managing growth through a combination of borrowing and equity adjustments, while facing challenges in managing allowances, claims, and comprehensive losses.