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.

Marathon Oil Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Accounts payable	1,110	837	1,307	1,320	1,395
Payroll and benefits payable	74	57	112	154	108
Accrued taxes	157	72	118	181	177
Current portion of long-term finance lease liability	6	—	—	—	—
Other current liabilities	254	247	208	170	288
Long-term debt due within one year	36	—	—	—	—
Current liabilities held for sale	—	—	—	7	—
Current liabilities	1,637	1,213	1,745	1,832	1,968
Long-term debt, excluding due within one year	3,978	5,404	5,501	5,499	5,494
Deferred tax liabilities	136	163	186	199	833
Defined benefit postretirement plan obligations	137	180	183	195	362
Asset retirement obligations	288	241	243	1,081	1,428
Long-term finance lease liability, excluding current portion	24	—	—	—	—
Deferred credits and other liabilities	108	194	234	279	217
Noncurrent liabilities held for sale	—	—	—	108	2
Noncurrent liabilities	4,671	6,182	6,347	7,361	8,336
Total liabilities	6,308	7,395	8,092	9,193	10,304
Preferred stock, no par value; no shares issued or outstanding	—	—	—	—	—
Common stock, par value $1 per share	937	937	937	937	937
Common stock, held in treasury, at cost	(4,825)	(4,089)	(4,089)	(3,816)	(3,325)
Additional paid-in capital	7,221	7,174	7,207	7,238	7,379
Retained earnings	7,271	6,466	7,993	7,706	6,779
Accumulated other comprehensive income (loss)	82	73	105	63	(62)
Stockholders’ equity	10,686	10,561	12,153	12,128	11,708
Total liabilities and stockholders’ equity	16,994	17,956	20,245	21,321	22,012

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

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.	Marathon Oil Corp. current liabilities decreased from 2019 to 2020 but then increased from 2020 to 2021 not reaching 2019 level.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Marathon Oil Corp. noncurrent liabilities decreased from 2019 to 2020 and from 2020 to 2021.
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.	Marathon Oil Corp. total liabilities decreased from 2019 to 2020 and from 2020 to 2021.
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 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.	Marathon Oil Corp. stockholders’ equity decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.

Marathon Oil Corp. (NYSE:MRO)

Balance Sheet: Liabilities and Stockholders’ Equity