Name: LyondellBasell Industries N.V. (NYSE:LYB) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

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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LyondellBasell Industries N.V., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Current maturities of long-term debt	5)	2)	2)	4)	4)
Short-term debt	885)	68)	594)	353)	346)
Trade	2,560)	2,258)	2,028)	1,627)	2,239)
Related parties	527)	637)	501)	555)	825)
Accounts payable	3,087)	2,895)	2,529)	2,182)	3,064)
Payroll and benefits	534)	442)	334)	415)	426)
Renewable identification numbers	72)	130)	136)	322)	223)
Product sales rebates	163)	166)	147)	165)	187)
Taxes other than income taxes	186)	199)	177)	217)	187)
Income taxes	16)	386)	311)	319)	153)
Interest	154)	151)	142)	132)	111)
Share repurchases	—)	—)	21)	45)	85)
Deferred revenues	128)	61)	22)	57)	73)
Other	283)	277)	125)	138)	109)
Accrued liabilities	1,536)	1,812)	1,415)	1,810)	1,554)
Deferred income taxes	—)	—)	—)	—)	469)
Current liabilities	5,513)	4,777)	4,540)	4,349)	5,437)
Long-term debt, excluding current maturities	8,497)	8,549)	8,385)	7,671)	6,757)
Other liabilities	1,897)	2,275)	2,113)	2,036)	2,122)
Deferred income taxes	1,975)	1,655)	2,331)	2,127)	1,623)
Noncurrent liabilities	12,369)	12,479)	12,829)	11,834)	10,502)
Total liabilities	17,882)	17,256)	17,369)	16,183)	15,939)
Redeemable non-controlling interests	116)	—)	—)	—)	—)
Ordinary shares, €0.04 par value	22)	31)	31)	31)	31)
Additional paid-in capital	7,041)	10,206)	10,191)	10,202)	10,387)
Retained earnings	6,763)	15,746)	12,282)	9,841)	6,775)
Accumulated other comprehensive loss	(1,363)	(1,285)	(1,511)	(1,438)	(1,026)
Treasury stock, at cost	(2,206)	(15,749)	(14,945)	(12,086)	(7,853)
Total Company share of stockholders’ equity	10,257)	8,949)	6,048)	6,550)	8,314)
Non-controlling interests	23)	1)	25)	24)	30)
Total equity	10,280)	8,950)	6,073)	6,574)	8,344)
Total liabilities, redeemable non-controlling interests and equity	28,278)	26,206)	23,442)	22,757)	24,283)

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

The financial position over the five-year period from 2014 to 2018 is characterized by an overall increase in total liabilities and significant volatility within the stockholders' equity components, particularly in the final year of the sequence.

Liability Structure and Trends: Total liabilities demonstrated a gradual upward trend, rising from 15,939 million US$ in 2014 to 17,882 million US$ in 2018. This growth was primarily driven by noncurrent liabilities, which peaked in 2016 at 12,829 million US$ before stabilizing around 12,369 million US$ by 2018. Long-term debt, excluding current maturities, showed a consistent increase from 6,757 million US$ in 2014 to a peak of 8,549 million US$ in 2017, indicating a period of increased long-term borrowing to fund operations or investments.; Current liabilities exhibited a U-shaped trajectory, starting at 5,437 million US$ in 2014, dipping to 4,349 million US$ in 2015, and returning to 5,513 million US$ by 2018. A notable driver of this volatility was short-term debt, which fluctuated sharply, reaching a low of 68 million US$ in 2017 before surging to 885 million US$ in 2018. Accounts payable also showed an upward trend from 2015 onward, reaching 3,087 million US$ in 2018, suggesting an increase in trade-related obligations.
Stockholders' Equity and Capital Adjustments: Total equity experienced a period of contraction followed by a strong recovery, moving from 8,344 million US$ in 2014 to a low of 6,073 million US$ in 2016, before climbing to 10,280 million US$ in 2018. This movement reflects significant shifts in internal capital management.; Retained earnings grew substantially from 6,775 million US$ in 2014 to a peak of 15,746 million US$ in 2017, only to drop sharply to 6,763 million US$ in 2018. This abrupt decline, coupled with a significant reduction in treasury stock cost from -15,749 million US$ in 2017 to -2,206 million US$ in 2018 and a decrease in additional paid-in capital from 10,206 million US$ to 7,041 million US$ in the same period, suggests a major equity restructuring or a substantial distribution of capital to shareholders in 2018.
Solvency and Leverage Observations: The relationship between liabilities and equity indicates a fluctuation in financial leverage. The leverage peaked in 2016, where total liabilities were approximately 2.86 times the total equity. However, by 2018, the leverage ratio improved significantly to approximately 1.74, driven by the increase in total equity to 10,280 million US$.; Accumulated other comprehensive loss remained a consistent negative factor throughout the period, fluctuating between -1,026 million US$ and -1,511 million US$, indicating ongoing unrealized losses that marginally offset the total equity position.

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