Balance Sheet: Liabilities and Stockholders’ Equity
The balance sheet 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.
Lockheed Martin Corp., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
|Balance sheet item||Description||The company|
|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.||Lockheed Martin Corp.’s current liabilities increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.|
|Noncurrent liabilities||Amount of obligation due after one year or beyond the normal operating cycle, if longer.||Lockheed Martin Corp.’s noncurrent liabilities decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.|
|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.||Lockheed Martin Corp.’s total liabilities decreased from 2017 to 2018 but then slightly increased from 2018 to 2019.|
|Stockholders’ equity (deficit)||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.||Lockheed Martin Corp.’s stockholders’ equity (deficit) increased from 2017 to 2018 and from 2018 to 2019.|