Stock Analysis on Net
Stock Analysis on Net

ONEOK Inc. (NYSE:OKE)

This company has been moved to the archive! The financial data has not been updated since August 8, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

ONEOK Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Current maturities of long-term debt 3.79 3.79 0.03 0.04 2.78
Short-term borrowings 0.00 0.00 0.00 1.01 0.00
Accounts payable 5.58 5.64 3.12 5.55 6.12
Commodity imbalances 1.04 1.31 0.81 0.48 0.60
Accrued interest 0.96 1.00 1.06 0.87 0.89
Current operating lease liability 0.05 0.06 0.06 0.01 0.00
Current finance lease liability 0.01 0.01 0.01 0.01 0.01
Other current liabilities 1.09 1.67 0.74 1.30 1.16
Current liabilities 12.52% 13.48% 5.83% 9.26% 11.56%
Long-term debt, excluding current maturities 52.08 53.97 61.65 57.21 48.67
Deferred income taxes 7.13 4.94 2.90 2.46 1.21
Noncurrent operating lease liability 0.28 0.32 0.38 0.06 0.00
Noncurrent finance lease liability 0.08 0.09 0.10 0.11 0.14
Other deferred credits 1.28 1.74 2.96 2.35 2.33
Deferred credits and other liabilities 8.77% 7.09% 6.34% 4.98% 3.68%
Noncurrent liabilities 60.85% 61.05% 67.99% 62.19% 52.35%
Total liabilities 73.36% 74.54% 73.82% 71.46% 63.91%
Preferred stock, $0.01 par value 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.02 0.02 0.02 0.02 0.02
Paid-in capital 29.75 30.54 31.86 33.94 41.77
Accumulated other comprehensive loss -0.44 -2.00 -2.39 -1.71 -1.03
Retained earnings 0.21 0.00 0.00 0.00 0.00
Treasury stock, at cost -2.90 -3.10 -3.31 -3.71 -4.67
Total ONEOK shareholders’ equity 26.64% 25.46% 26.18% 28.54% 36.09%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2018-12-31).

The capital structure of the organization exhibits a clear trend toward increased financial leverage between 2018 and 2022. Total liabilities rose from 63.91% of total liabilities and equity in 2018 to a peak of 74.54% in 2021, before stabilizing at 73.36% in 2022. Correspondingly, total shareholders' equity experienced a downward trajectory, declining from 36.09% in 2018 to 26.64% in 2022.

Debt Obligations and Long-Term Liabilities
Long-term debt, excluding current maturities, is the primary driver of the company's liability profile. This component increased significantly from 48.67% in 2018 to a peak of 61.65% in 2020, followed by a moderate decline to 52.08% by 2022. Current maturities of long-term debt showed volatility, remaining negligible in 2019 and 2020 (0.04% and 0.03% respectively) before increasing to 3.79% in both 2021 and 2022, indicating a higher concentration of debt coming due in the short term.
Equity Components and Shareholders' Position
A significant reduction is observed in paid-in capital, which dropped from 41.77% in 2018 to 29.75% in 2022. Treasury stock as a percentage of total liabilities and equity decreased from -4.67% to -2.90%, suggesting a reduction in the relative impact of share repurchases. Accumulated other comprehensive loss peaked at -2.39% in 2020 before recovering to -0.44% by 2022. Retained earnings appeared as a positive value of 0.21% only in the 2022 reporting period.
Current Liabilities and Operational Obligations
Total current liabilities fluctuated over the five-year period, reaching a low of 5.83% in 2020 and rising to 12.52% in 2022. Accounts payable remained relatively stable, oscillating between 3.12% and 6.12%. Commodity imbalances and accrued interest showed minimal variation, generally remaining below 1.5% of the total capital structure.
Deferred Credits and Tax Liabilities
There is a consistent upward trend in deferred income taxes, which grew from 1.21% in 2018 to 7.13% in 2022. This growth contributed to the overall increase in noncurrent liabilities, which moved from 52.35% in 2018 to 60.85% in 2022.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?