Stock Analysis on Net
Stock Analysis on Net

Merck & Co. Inc. (NYSE:MRK)

$24.99

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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Merck & Co. Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Loans payable and current portion of long-term debt
Trade accounts payable
Accrued and other current liabilities
Income taxes payable
Dividends payable
Current liabilities
Long-term debt, excluding current portion
Deferred income taxes
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Common stock, $0.50 par value
Other paid-in capital
Retained earnings
Accumulated other comprehensive loss
Treasury stock, at cost
Total Merck & Co., Inc. stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

The financial data indicates several key trends in liabilities and shareholders' equity over the five-year period ending in 2024.

Current Liabilities
The total current liabilities decreased from 27,327 million USD in 2020 to 23,872 million USD in 2021, then showed a slight increase through 2024, ending at 28,420 million USD. This variation is influenced by the notable fluctuations in loans payable and current portion of long-term debt, which initially decreased sharply from 6,431 million USD in 2020 to 1,372 million USD in 2023, before rising again to 2,649 million USD in 2024. Trade accounts payable showed a gradual decline until 2023, with a minor uptick in 2024. Accrued and other current liabilities steadily increased over the period, indicating rising short-term financial obligations. Income taxes payable and dividends payable both trended upward, with income taxes payable almost doubling from 1,575 million USD in 2020 to 3,914 million USD in 2024.
Noncurrent Liabilities
Long-term debt, excluding the current portion, increased consistently from 25,360 million USD in 2020 to 34,462 million USD in 2024, indicating growing long-term borrowing. Deferred income taxes showed volatility, peaking in 2021 but declining significantly in subsequent years with a slight uptick in 2024. Other noncurrent liabilities decreased overall, from 12,482 million USD in 2020 to 6,465 million USD in 2024, reflecting reductions in certain long-term obligations. Total noncurrent liabilities fluctuated but remained within a similar range from year to year, ending at 42,314 million USD in 2024, slightly below the 2021 peak.
Total Liabilities
Total liabilities exhibited some variability, initially increasing from 66,184 million USD in 2020 to 67,437 million USD in 2021, then falling to 63,102 million USD in 2022 before rising again to 70,734 million USD in 2024. This pattern suggests fluctuating reliance on borrowed funds and accrued obligations but overall a moderate upward trajectory in total liabilities toward the end of the period.
Shareholders' Equity
Shareholders' equity experienced significant increases, rising from 25,317 million USD in 2020 to 38,184 million USD in 2021 and peaking at 45,991 million USD in 2022. It then declined to 37,581 million USD in 2023 before rebounding to 46,313 million USD in 2024. Key factors impacting equity include steady growth in other paid-in capital and retained earnings, though retained earnings displayed some volatility, dipping in 2023 before recovering. Treasury stock increased in cost consistently, which reduces equity, and accumulated other comprehensive loss slightly expanded in absolute terms before showing a modest reduction in 2024.
Total Liabilities and Equity
The sum of total liabilities and equity increased steadily over the period from 91,588 million USD in 2020 to 117,106 million USD in 2024, demonstrating an overall expansion in the company's financial base, reflecting growth in both its financial obligations and net assets.

In summary, the data reveals a trend of moderate growth in total liabilities and equity, with fluctuations in debt levels and ongoing increases in accrued liabilities and taxes payable. The company's equity base expanded substantially during the period, driven by increases in paid-in capital and retained earnings despite some variability. The trends suggest active management of debt and equity financing alongside growth in operational and financial obligations.