Stock Analysis on Net
Stock Analysis on Net

Procter & Gamble Co. (NYSE:PG)

$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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Procter & Gamble Co., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Jun 30, 2024 Jun 30, 2023 Jun 30, 2022 Jun 30, 2021 Jun 30, 2020 Jun 30, 2019
Accounts payable
Accrued marketing and promotion
Accrued compensation
Taxes payable
Accrued interest
Current operating lease liabilities
Restructuring reserves
Derivative liabilities
Other
Accrued and other liabilities
Debt due within one year
Current liabilities
Long-term debt, excluding due within one year
Deferred income taxes
Pension benefit obligations
Uncertain tax positions
Noncurrent operating lease liabilities
Other retiree benefit obligations
U.S. Tax Act transitional tax payable
Derivative liabilities
Other
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Convertible Class A preferred stock, stated value $1 per share
Non-Voting Class B preferred stock, stated value $1 per share
Common stock, stated value $1 per share
Additional paid-in capital
Reserve for ESOP debt retirement
Accumulated other comprehensive loss
Treasury stock
Retained earnings
Shareholders’ equity attributable to Procter & Gamble
Noncontrolling interest
Total shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

Liabilities Trends
Current liabilities have generally increased over the period, rising from $30,011 million in 2019 to $33,627 million in 2024, with some fluctuations notably peaking in 2023 at $35,756 million. Within this category, accounts payable showed a steady upward trajectory, increasing from $11,260 million to $15,364 million, indicating growing obligations to suppliers or vendors. Accrued marketing and promotion expenses fluctuated but exhibited a slight overall increase from $4,299 million to $4,172 million. Accrued compensation followed a similar pattern, rising from $1,623 million to $2,161 million, suggesting increased payroll or employee-related accruals over time.
Taxes payable more than tripled from $341 million in 2019 to $1,042 million in 2024, highlighting a significant rise in short-term tax liabilities. Accrued interest appeared starting in 2023 with $235 million, increasing to $282 million in 2024, reflecting an emergence and growth of interest-related liabilities. Restructuring reserves declined substantially, from $468 million in 2019 down to $166 million in 2024, possibly indicating reduced restructuring activities or settlements of previous obligations. Derivative liabilities showed variability with a notable jump to $631 million in 2023 before declining sharply to $54 million in 2024.
Noncurrent liabilities decreased marginally overall, from $37,505 million in 2019 to $38,184 million in 2024, with peaks and troughs in interim years. Long-term debt increased moderately, from $20,395 million to $25,269 million, indicating some rise in borrowing or bond issuances. Pension benefit obligations showed a marked decline from $5,622 million to $2,884 million, suggesting pension funding improvements or changes in actuarial assumptions. Other retiree benefit obligations similarly trended downward. Deferred income taxes and uncertain tax positions showed stability with minimal fluctuations.
Other noncurrent liabilities decreased significantly from $10,211 million in 2019 to $6,399 million in 2024, potentially reflecting repayments or reclassification of liabilities. The U.S. Tax Act transitional tax payable steadily declined by approximately 75%, indicative of the diminishing impact of transitional tax obligations. Noncurrent operating lease liabilities increased moderately from 652 million to 666 million over the period.
Shareholders’ Equity and Capital Structure
Common stock remained constant at $4,009 million, indicating no new issuance or retirement of shares within this period. Additional paid-in capital increased steadily from $63,827 million to $67,684 million, which could suggest new equity raises or changes in equity accounting entries.
Retained earnings consistently grew from $94,918 million to $123,811 million, reflecting accumulated profitability retained within the company. Treasury stock increased in magnitude of negative value from -$100,406 million to -$133,378 million, indicating ongoing share repurchases or stock buyback programs reducing outstanding shares.
Accumulated other comprehensive loss showed some improvement, decreasing in absolute negative value from -$14,936 million to -$11,900 million, which may reflect favorable changes in foreign currency translation, pension adjustments, or other comprehensive income components. The reserve for ESOP debt retirement became less negative, moving from -$1,146 million to -$737 million, suggesting repayment or decrease in employee stock ownership plan debt.
Total shareholders’ equity exhibited marginal growth from $47,579 million in 2019 to $50,559 million in 2024, indicating a relatively stable equity base despite share repurchases. Noncontrolling interest decreased slightly overall, consistent with reduced minority stakes or divestitures.
Overall Financial Position
Total liabilities and shareholders’ equity rose from $115,095 million to $122,370 million, demonstrating moderate expansion of the company’s balance sheet. Total liabilities fluctuated without a clear upward or downward trend, peaking in 2023 at $73,764 million before a slight decline in 2024 to $71,811 million. This stability suggests controlled leverage and liability management.
Debt due within one year decreased notably in 2024 from its prior peak in 2023, which could signal debt repayments or refinancing. The sustained increase in long-term debt alongside decreasing current portion may reflect strategic debt structure adjustments. The improvements in pension and retiree obligations, combined with an increase in accrued interest and taxes payable, may indicate shifting liabilities between different categories.