Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Schlumberger Ltd., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2024-12-31), 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).
The financial data reveals several notable trends in the composition of liabilities and equity over the five-year period from December 31, 2020, to December 31, 2024.
- Trade accounts payable
- This item showed an increasing trend from 6.92% to a peak of 9.62% in 2023, before slightly declining to 8.64% in 2024, indicating a growing share of trade payables in total liabilities and equity, albeit with a minor contraction in the last year.
- Payroll, vacation, and employee benefits
- This percentage decreased overall from 3.59% to 3.01%, reflecting a gradual reduction in obligations related to employee compensation as a share of total liabilities and equity.
- Billings and cash collections in excess of revenue
- There was a steady increase from 2.22% in 2020 to a notable 4.16% in 2023, with a slight decrease to 4.1% in 2024. This suggests an accumulation of cash receipts or billings ahead of revenue recognition over the period.
- Other current liabilities
- These liabilities diminished consistently from 7.16% to 5.44%, indicating a reduction in unspecified current obligations as a proportion of total liabilities and equity.
- Accounts payable and accrued liabilities
- This category increased from 19.89% to a high of 22.74% in 2023, followed by a decline to 21.2% in 2024, showing a rising burden of short-term obligations that slightly moderated recently.
- Estimated liability for taxes on income
- This item remained relatively stable, fluctuating marginally around the 2% mark, with a slight downtrend to 2.01% in 2024, implying steady tax-related liabilities over the years.
- Short-term borrowings and current portion of long-term debt
- This component increased notably in 2022 to 3.78% from 2% in 2020 but decreased subsequently to 2.15% by 2024, suggesting episodic increases in short-term debt followed by repayments or refinancing.
- Dividends payable
- This showed a steady increase over the period from 0.43% to 0.82%, reflecting growing declared but unpaid dividends relative to liabilities and equity.
- Current liabilities overall
- Current liabilities as a total increased from 24.72% to 27.93% in 2023 before dipping to 26.18% in 2024, indicating a general build-up of current obligations that slightly retrenched in the last year.
- Long-term debt, excluding current portion
- There was a marked downward trend from 37.79% in 2020 to 22.53% in 2024, evidencing a substantial reduction in long-term financial leverage over the period.
- Postretirement benefits
- This liability dropped sharply from 2.47% to 0.36% by 2023 but then rose to 1.05% in 2024, showing a significant reduction followed by a partial reversal.
- Deferred taxes
- Deferred tax liabilities fluctuated at low levels, between 0.04% and 0.29%, indicating limited changes in deferred tax obligations.
- Other non-current liabilities
- These declined gradually from 5.54% to approximately 4.44%, portraying a modest reduction in other long-term obligations.
- Non-current liabilities overall
- Non-current liabilities decreased substantially from 45.85% to 28.15%, consistent with the reduction in long-term debt and other long-term obligations.
- Total liabilities
- Total liabilities diminished significantly from 70.57% to 54.33%, reflecting an overall deleveraging trend and a smaller reliance on borrowed funds.
- Common stock
- The proportion of common stock as part of total liabilities and equity decreased from 30.57% to 23.41%, indicating either share repurchases, changes in equity valuation, or asset rebalancing.
- Treasury stock
- Treasury stock showed a consistent reduction in negative value from -7.15% to -1.41% in 2023, then a moderate increase in negative balance to -3.62% in 2024, suggesting active share repurchase and reissuance activities.
- Retained earnings
- There was a steady increase from 16.54% to 33.5%, indicating strong accumulation of earnings retained within the company, contributing to equity growth.
- Accumulated other comprehensive loss
- This item improved somewhat from -11.51% to -8.6% by 2021 but then worsened to -10.12% by 2024, indicating increasing unrealized losses or negative adjustments impacting shareholders' equity.
- Total stockholders’ equity of the company
- Equity showed a positive trend, increasing from 28.45% to 43.18%, driven primarily by retained earnings growth that outpaced declines in common stock percentage.
- Noncontrolling interests
- This share remained low but increased from 0.99% to 2.49%, suggesting a growing minority stake presence.
- Total equity
- Total equity rose steadily from 29.43% to 45.67%, underscoring an overall strengthening of the company’s equity base in relation to total liabilities and equity.
Overall, the data depicts a significant deleveraging process with a decline in total liabilities mainly driven by reductions in long-term debt and non-current liabilities. Meanwhile, the equity base has been strengthened by increased retained earnings and higher total stockholders' equity. Current liabilities displayed some fluctuation but remained relatively stable as a percentage of total liabilities and equity. The mixed trends in other comprehensive loss and treasury stock warrant attention, reflecting market and management actions affecting equity composition.