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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Johnson & Johnson, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-28), 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-28), 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-29), 10-Q (reporting date: 2024-09-29), 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: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04).
The total balance sheet exhibits a consistent expansion over the observed period, growing from 172.56 billion USD in April 2021 to 201.06 billion USD by June 2026. This growth is driven by a simultaneous increase in both total liabilities and total shareholders' equity, although the growth in equity has outpaced the increase in liabilities in the latter half of the period.
- Current Liabilities Trends
- Current liabilities show a general upward trajectory, rising from 40.93 billion USD to 54.90 billion USD. A primary driver of this increase is the steady growth in accrued rebates, returns, and promotions, which rose from 11.92 billion USD in April 2021 to 19.99 billion USD by June 2026. Loans and notes payable exhibit significant volatility, characterized by periodic spikes, most notably reaching 17.98 billion USD in April 2023 and 17.46 billion USD in March 2026, suggesting episodic short-term financing activities.
- Non-Current Liabilities and Long-Term Debt
- Non-current liabilities remained relatively stable in the long term, ending at 61.20 billion USD compared to 65.79 billion USD at the start of the period. However, internal composition shifted; long-term debt, excluding the current portion, trended upward from approximately 30.26 billion USD to 37.34 billion USD. This increase was partially offset by a substantial reduction in long-term taxes payable, which plummeted from 6.57 billion USD in April 2021 to 485 million USD by June 2026.
- Shareholders' Equity and Capital Structure
- Total equity demonstrated a strong growth pattern, increasing from 65.83 billion USD to 84.97 billion USD. This is underpinned by a significant rise in retained earnings and additional paid-in capital, which grew from 116.51 billion USD to 171.67 billion USD. Simultaneously, a marked increase in common stock held in treasury—growing from -38.47 billion USD to a peak of -76.26 billion USD in March 2026—indicates an aggressive share repurchase strategy over the period.
- Liability-to-Equity Dynamics
- Total liabilities increased from 106.72 billion USD to 116.09 billion USD. While the overall debt load rose, the concurrent growth in total equity suggests a maintained or improving solvency position. The most significant fluctuations in total liabilities were observed between December 2022 and April 2023, where total liabilities peaked at 125.10 billion USD before stabilizing.