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Statement of Financial Position, Liabilities and Stockholders’ Equity
The statement of financial position provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.
General Mills Inc., Consolidated Statement of Financial Position, Liabilities and Stockholders’ Equity
USD $ in thousands
Based on: 10-K (filing date: 2018-06-29), 10-K (filing date: 2017-06-29), 10-K (filing date: 2016-06-30), 10-K (filing date: 2015-07-06), 10-K (filing date: 2014-07-03), 10-K (filing date: 2013-07-03).
|Current liabilities||Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.||General Mills Inc.’s current liabilities increased from 2016 to 2017 and from 2017 to 2018.|
|Noncurrent liabilities||Amount of obligation due after one year or beyond the normal operating cycle, if longer.||General Mills Inc.’s noncurrent liabilities increased from 2016 to 2017 and from 2017 to 2018.|
|Total liabilities||Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.||General Mills Inc.’s total liabilities increased from 2016 to 2017 and from 2017 to 2018.|
|Stockholders’ equity||Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.||General Mills Inc.’s stockholders’ equity declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.|