Stock Analysis on Net
Stock Analysis on Net

Newmont Corp. (NYSE:NEM)

This company has been moved to the archive! The financial data has not been updated since April 29, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Newmont Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Accounts payable 1.73 1.64 1.28 1.19 1.35
Employee-related benefits 0.99 1.04 0.95 0.92 0.90
Income and mining taxes 0.16 0.52 0.95 1.59 0.41
Current finance lease and other financing obligations 0.21 0.25 0.26 0.26 0.25
Current debt 3.46 0.00 0.21 1.33 0.00
Reclamation and remediation liabilities 1.12 1.37 0.67 0.52 0.42
Accrued operating costs 0.85 0.96 0.50 0.69 0.53
Accrued capital expenditures 0.58 0.57 0.38 0.35 0.15
Stamp duty on Newcrest transaction 0.57 0.00 0.00 0.00 0.00
Accrued royalties 0.25 0.21 0.00 0.00 0.00
Payables to NGM 0.16 0.19 0.28 0.23 0.19
Silver streaming agreement 0.16 0.21 0.18 0.16 0.17
Other 0.57 0.65 0.89 0.91 0.75
Other current liabilities 4.26% 4.16% 2.89% 2.86% 2.20%
Current liabilities held for sale 0.00 0.00 0.00 0.00 0.86
Current liabilities 10.81% 7.60% 6.54% 8.14% 5.97%
Non-current debt 12.52 14.48 13.72 13.25 15.35
Non-current finance lease and other financing obligations 0.81 1.21 1.34 1.37 1.49
Reclamation and remediation liabilities 14.71 17.09 14.39 9.23 8.67
Deferred income tax liabilities 5.38 4.70 5.29 5.01 6.02
Employee-related benefits 1.18 0.89 1.08 1.19 1.12
Silver streaming agreement 1.40 2.15 2.24 2.40 2.65
Income and mining taxes 0.32 0.54 0.81 0.92 1.11
Norte Abierto deferred payments 0.02 0.24 0.25 0.30 0.39
Other 0.23 0.34 0.44 0.47 1.16
Other non-current liabilities 0.57% 1.12% 1.50% 1.69% 2.65%
Non-current liabilities 36.58% 41.64% 39.56% 34.13% 37.95%
Total liabilities 47.38% 49.24% 46.11% 42.28% 43.92%
Contingently redeemable noncontrolling interest 0.00 0.00 0.12 0.08 0.12
Common stock, $1.60 par value 3.34 3.32 3.15 3.11 3.25
Treasury stock -0.48 -0.62 -0.49 -0.41 -0.30
Additional paid-in capital 54.80 45.14 44.33 43.76 45.57
Accumulated other comprehensive income (loss) 0.03 0.08 -0.33 -0.52 -0.66
Retained earnings (accumulated deficit) -5.40 2.38 7.64 9.67 5.73
Total Newmont stockholders’ equity 52.30% 50.29% 54.29% 55.62% 53.58%
Noncontrolling interests 0.32 0.47 -0.52 2.02 2.38
Total equity 52.62% 50.76% 53.77% 57.64% 55.96%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2019-12-31).

Current Liabilities
Current liabilities as a percentage of total liabilities and equity exhibited fluctuations over the analyzed five-year period. The ratio increased from 5.97% in 2019 to 8.14% in 2020, followed by a decline to 6.54% in 2021, then rose again to 7.6% in 2022 before reaching the highest level at 10.81% in 2023. Notably, "Other current liabilities" steadily increased from 2.2% in 2019 to 4.26% in 2023, underpinning the overall rise in current liabilities. Current debt showed a volatile pattern with missing data in 2019 and 2022 but peaked at 3.46% in 2023, indicating growing short-term financial obligations.
Non-Current Liabilities
Non-current liabilities as a proportion of total liabilities and equity trended upward from 37.95% in 2019 to a peak of 41.64% in 2022 before declining to 36.58% in 2023. A significant driver of this pattern is the increase in reclamation and remediation liabilities, which more than tripled from 8.67% in 2019 to 17.09% in 2022, then decreased to 14.71% in 2023. Non-current debt showed a gradual decline from 15.35% in 2019 to 12.52% in 2023, suggesting some reduction in longer-term borrowings or restructuring. Deferred income tax liabilities exhibited a mild decline from 6.02% in 2019 to 5.38% in 2023 with some year-to-year variability.
Employee-Related Benefits
Employee-related benefits comprised both current and non-current components, with slight increases in the current portion from 0.9% in 2019 to a peak of 1.04% in 2022, followed by a small dip to 0.99% in 2023. The non-current portion fluctuated modestly, ending in 2023 at a higher figure (1.18%) than the starting point (1.12%), indicating a relatively stable but slightly growing obligation to employees over time.
Income and Mining Taxes
The current tax-related liabilities displayed a volatile pattern, sharply increasing to 1.59% in 2020 from 0.41% in 2019, then declining steadily through 2023 to 0.16%. Non-current income and mining taxes showed a gradual decline from 1.11% in 2019 to 0.32% in 2023. This overall downward trend in tax liabilities may reflect changes in tax payments or deferrals.
Other Specific Liabilities
Several specialized liabilities showed notable trends: accrued capital expenditures increased consistently from 0.15% in 2019 to 0.58% in 2023, reflecting growing commitments to capital projects. The stamp duty associated with the Newcrest transaction appeared only in 2023 at 0.57%. Accrued royalties also emerged in recent years, reaching 0.25% in 2023. The silver streaming agreement liability decreased across both current and non-current classifications, with non-current obligations falling from 2.65% in 2019 to 1.4% in 2023.
Total Liabilities and Equity
Total liabilities as a percentage of total liabilities and equity rose from 43.92% in 2019 to a peak of 49.24% in 2022, then slightly declined to 47.38% in 2023. Conversely, total equity decreased from 55.96% in 2019 to 50.76% in 2022, with a slight recovery to 52.62% in 2023. Within equity components, additional paid-in capital notably grew from 45.57% in 2019 to 54.8% in 2023, indicating substantial capital contributions or equity financing. Retained earnings showed significant variability, increasing from 5.73% in 2019 to 9.67% in 2020 before declining sharply to a negative 5.4% in 2023, suggesting accumulated losses or significant distributions. Treasury stock rose in magnitude as a negative proportion, reflecting ongoing share repurchases or cancellations.
Summary of Financial Position Dynamics
The analyzed data reveals increasing pressure on current liabilities as a share of total financing structure, particularly in 2023, possibly indicating heightened short-term obligations. The growth in reclamation and remediation liabilities underscores rising environmental or operational restoration responsibilities. The company has experienced shifts in equity composition, with increased additional paid-in capital offset by declining retained earnings, which may reflect fluctuating profitability or dividend policies. Overall, the balance between liabilities and equity remained relatively stable around the mid-40s and mid-50s percentage splits, respectively, with recent years showing marginal movements toward higher liabilities.