Name: Monsanto Co. (NYSE:MON) | 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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Monsanto Co., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Aug 31, 2017	Aug 31, 2016	Aug 31, 2015	Aug 31, 2014	Aug 31, 2013	Aug 31, 2012
Short-term debt, including current portion of long-term debt	870)	1,587)	615)	233)	51)	36)
Accounts payable	1,068)	1,006)	836)	1,111)	995)	794)
Income taxes payable	58)	41)	234)	99)	91)	75)
Accrued compensation and benefits	578)	239)	304)	500)	492)	546)
Accrued marketing programs	1,918)	1,650)	1,492)	1,394)	1,078)	1,281)
Deferred revenues	727)	568)	370)	438)	517)	396)
Grower production accruals	59)	47)	39)	54)	60)	194)
Dividends payable	237)	237)	254)	239)	228)	200)
Customer payable	106)	123)	72)	82)	12)	14)
Restructuring reserves	37)	227)	170)	—)	—)	—)
Miscellaneous short-term accruals	740)	1,004)	791)	962)	812)	685)
Current liabilities	6,398)	6,729)	5,177)	5,112)	4,336)	4,221)
Long-term debt, excluding current portion	7,254)	7,453)	8,429)	7,528)	2,061)	2,038)
Postretirement liabilities	313)	371)	336)	345)	357)	543)
Long-term deferred revenue	114)	35)	47)	47)	138)	245)
Noncurrent deferred tax liabilities	192)	68)	340)	509)	469)	313)
Long-term portion of environmental and litigation liabilities	218)	200)	194)	184)	193)	213)
Long-term restructuring reserves	9)	17)	47)	—)	—)	—)
Other liabilities	377)	318)	345)	342)	382)	615)
Noncurrent liabilities	8,477)	8,462)	9,738)	8,955)	3,600)	3,967)
Total liabilities	14,875)	15,191)	14,915)	14,067)	7,936)	8,188)
Common stock, par value $0.01	6)	6)	6)	6)	6)	6)
Treasury stock, at cost	(15,053)	(15,053)	(12,053)	(10,032)	(4,140)	(3,045)
Additional contributed capital	11,840)	11,626)	11,464)	10,003)	10,783)	10,371)
Retained earnings	12,072)	10,763)	10,374)	9,012)	7,188)	5,537)
Accumulated other comprehensive loss	(2,427)	(2,808)	(2,801)	(1,114)	(1,278)	(1,036)
Total Monsanto Company shareowners’ equity	6,438)	4,534)	6,990)	7,875)	12,559)	11,833)
Noncontrolling interest	20)	11)	15)	39)	169)	203)
Total shareowners’ equity	6,458)	4,545)	7,005)	7,914)	12,728)	12,036)
Total liabilities and shareowners’ equity	21,333)	19,736)	21,920)	21,981)	20,664)	20,224)

Based on: 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-31).

The balance sheet demonstrates a significant shift in capital structure between 2012 and 2017, characterized by a substantial increase in total liabilities and a concurrent reduction in total shareowners' equity.

Liability Trends: Total liabilities increased from 8,188 million USD in 2012 to 14,875 million USD in 2017. This growth was primarily driven by noncurrent liabilities, which rose from 3,967 million USD to 8,477 million USD. A pivotal shift occurred in 2014, when long-term debt escalated from 2,061 million USD in 2013 to 7,528 million USD, remaining elevated through 2017.
Current Obligations: Current liabilities grew from 4,221 million USD in 2012 to 6,398 million USD in 2017. Short-term debt exhibited significant volatility, rising from 36 million USD in 2012 to a peak of 1,587 million USD in 2016 before decreasing to 870 million USD in 2017. Additionally, accrued marketing programs showed a consistent upward trend, increasing from 1,281 million USD to 1,918 million USD over the period.
Equity Dynamics: Total shareowners' equity experienced a marked decline, falling from 12,036 million USD in 2012 to 6,458 million USD in 2017. While retained earnings grew steadily from 5,537 million USD to 12,072 million USD, suggesting strong internal profit generation, these gains were offset by an aggressive share buyback program. Treasury stock at cost expanded from 3,045 million USD in 2012 to 15,053 million USD by 2016.
Other Balance Sheet Components: Accumulated other comprehensive loss widened from 1,036 million USD in 2012 to a peak of 2,808 million USD in 2016, before slightly recovering to 2,427 million USD in 2017. Environmental and litigation liabilities remained relatively stable, fluctuating slightly between 184 million USD and 218 million USD.

The overarching financial trend indicates a transition toward a more leveraged capital structure. The combination of increased long-term borrowing and significant treasury stock acquisitions resulted in a reduction of the equity cushion relative to total liabilities, shifting the company's financial profile toward higher debt dependency.

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