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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- Balance Sheet: Assets
- Cash Flow Statement
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Johnson & Johnson, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-29), 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 overall financial position exhibits a steady expansion of the balance sheet, with total liabilities and shareholders' equity increasing from 172,557 million USD in April 2021 to 200,894 million USD by March 2026. This growth is characterized by a simultaneous increase in both long-term obligations and equity reserves, though the rate of growth in equity has remained more consistent than the volatility observed in current liabilities.
- Current Liability Trends
- Current liabilities experienced significant fluctuation, peaking at 60,373 million USD in April 2023 before stabilizing between 50,000 and 57,000 million USD in the latter periods. A notable pattern is observed in loans and notes payable, which exhibit cyclical spikes, particularly in early 2023 and early 2025, suggesting periodic reliance on short-term financing. Conversely, accrued rebates, returns, and promotions show a consistent and sustained upward trajectory, rising from 11,919 million USD in April 2021 to 18,399 million USD by March 2026, indicating an increase in operational accruals related to revenue adjustments.
- Non-Current Liability Dynamics
- Long-term debt, excluding the current portion, transitioned from approximately 30,000 million USD in 2021 to a higher plateau of 37,000 to 39,000 million USD between late 2024 and 2026. This increase in long-term borrowing is offset by a dramatic reduction in long-term taxes payable, which fell from 6,568 million USD in April 2021 to 486 million USD by March 2026. Deferred taxes on income remained volatile, dipping to a low of 2,428 million USD in March 2025 before rebounding to 7,011 million USD by the end of the analyzed period.
- Equity and Capital Structure
- Total equity demonstrated a general upward trend, growing from 65,834 million USD to 81,186 million USD. This growth was primarily driven by a steady increase in retained earnings and additional paid-in capital, which rose from 116,508 million USD to 169,161 million USD. However, this accumulation was partially offset by a substantial increase in treasury stock. Common stock held in treasury increased from 38,466 million USD in April 2021 to a plateau of approximately 76,000 million USD starting in late 2023, indicating an aggressive share repurchase strategy during this timeframe.
- Total Liability Obligations
- Total liabilities grew from 106,723 million USD in April 2021 to 119,708 million USD in March 2026. While there was a peak in total liabilities of 125,100 million USD in April 2023, the long-term trend reflects a managed increase in leverage to support the expanding balance sheet, with non-current liabilities maintaining a relatively stable proportion of the total liability structure.