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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- Income Statement
- Cash Flow Statement
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Newmont Corp., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
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 increased steadily from 2019 to 2020, rising from $2,385 million to $3,369 million. In 2021, they declined to $2,654 million but then rose moderately to $2,926 million in 2022. A notable surge occurred in 2023, reaching $5,998 million, more than doubling the previous year. This increase was driven in part by the sharp rise in accounts payable, employee-related benefits, accrued operating costs, accrued capital expenditures, and a significant new item, the stamp duty on the Newcrest transaction ($316 million). Additionally, current debt fluctuated, with a spike to $1,923 million in 2023 after being largely absent or low in prior years.
- Non-current liabilities
- Non-current liabilities showed a general upward trend, starting at $15,172 million in 2019, slightly decreasing by 2020 to $14,121 million, then rising steadily to $16,049 million in 2021 and holding around $16,023 million in 2022. In 2023, there was a marked increase to $20,303 million. This rise was largely influenced by growth in reclamation and remediation liabilities, which climbed consistently from $3,464 million in 2019 to $8,167 million in 2023. Additionally, non-current debt increased substantially from $6,138 million in 2019 to $6,951 million in 2023, with fluctuations in finance lease and other obligations. Deferred income tax liabilities showed a noticeable increase in 2023, rising to $2,987 million from previous lower levels.
- Total liabilities
- Total liabilities remained relatively stable between 2019 ($17,557 million) and 2022 ($18,949 million), with minor fluctuations year to year. However, 2023 saw a significant jump to $26,301 million, driven primarily by sharp increases in both current and non-current liabilities, reflecting heightened financial obligations and possibly new accounting entries such as the stamp duty on the Newcrest transaction.
- Stockholders’ equity
- Total equity peaked in 2020 at $23,845 million but then declined to $19,533 million in 2022 before bouncing back significantly in 2023 to $29,205 million. Common stock increased notably in 2023, reaching $1,854 million from relatively stable levels around $1,276–$1,287 million in prior years. Additional paid-in capital followed a similar pattern with a large jump to $30,419 million in 2023 after a gradual decrease from $18,216 million in 2019. Retained earnings showed volatility, increasing from $2,291 million in 2019 to $4,002 million in 2020, then declining steadily to a deficit of $-2,996 million by 2023. Treasury stock steadily increased in absolute value, indicating ongoing repurchases or holdings of own shares. Accumulated other comprehensive income improved from a loss of $265 million in 2019 to a positive balance in recent years.
- Other liabilities and items
- Reclamation and remediation liabilities both current and non-current exhibited significant increases over the five-year period, indicating growing environmental or operational remediation obligations. Income and mining taxes decreased substantially from 2019 to 2023 in both current and non-current classifications, suggesting either changed tax liabilities or improved management of tax obligations. Silver streaming obligations declined modestly over the period, potentially reducing future commitments. Deferred payments related to Norte Abierto declined sharply in non-current liabilities, reflecting ongoing settlement or fulfillment. Other current and non-current liabilities generally decreased or fluctuated, with some stabilization at lower levels in later years.
- Summary of trends
- The financial data reveal increasing overall liabilities in 2023, particularly in current liabilities, possibly due to transactions such as the Newcrest acquisition. The parallel increase in equity in 2023 suggests capital raising or changes in share capital structure. The increase in reclamation and remediation liabilities points to heightened environmental responsibilities. Declining retained earnings culminating in a deficit by 2023 may signal operational challenges or one-time charges affecting profitability. The fluctuating debt positions and tax liabilities suggest active financial and tax management throughout the years.