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.

SLB N.V., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Trade payables	4,859)	4,230)	4,613)	3,921)	3,205)
Payroll, vacation, and employee benefits	1,586)	1,475)	1,625)	1,493)	1,377)
Billings and cash collections in excess of revenue	2,264)	2,007)	1,996)	1,157)	1,088)
Other	2,781)	2,663)	2,670)	2,550)	2,712)
Accounts payable and accrued liabilities	11,490)	10,375)	10,904)	9,121)	8,382)
Estimated liability for taxes on income	894)	982)	994)	1,002)	879)
Short-term borrowings and current portion of long-term debt	1,894)	1,051)	1,123)	1,632)	909)
Dividends payable	443)	403)	374)	263)	189)
Current liabilities	14,721)	12,811)	13,395)	12,018)	10,359)
Long-term debt, excluding current portion	9,742)	11,023)	10,842)	10,594)	13,286)
Postretirement benefits	479)	512)	175)	165)	231)
Deferred taxes	644)	67)	140)	61)	94)
Other liabilities	1,991)	2,172)	2,046)	2,308)	2,255)
Non-current liabilities	12,856)	13,774)	13,203)	13,128)	15,866)
Total liabilities	27,577)	26,585)	26,598)	25,146)	26,225)
Common stock	16,354)	11,458)	11,624)	11,837)	12,608)
Treasury stock	(3,576)	(1,773)	(678)	(1,016)	(2,233)
Retained earnings	18,067)	16,395)	13,497)	10,719)	8,199)
Accumulated other comprehensive loss	(4,736)	(4,950)	(4,254)	(3,855)	(3,570)
Total SLB stockholders’ equity	26,109)	21,130)	20,189)	17,685)	15,004)
Noncontrolling interests	1,182)	1,220)	1,170)	304)	282)
Total equity	27,291)	22,350)	21,359)	17,989)	15,286)
Total liabilities and equity	54,868)	48,935)	47,957)	43,135)	41,511)

Based on: 10-K (reporting date: 2025-12-31), 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).

Overall, the liabilities and stockholders’ equity of the company demonstrate a general trend of growth from 2021 to 2025. While total liabilities experienced some fluctuation, they ultimately increased, and stockholders’ equity showed consistent expansion, particularly in the later years of the period. This growth is reflected in several key areas, including accounts payable, retained earnings, and common stock.

Current Liabilities: Current liabilities increased from US$10,359 million in 2021 to US$14,721 million in 2025. This growth was not linear, with a slight decrease observed between 2023 and 2024. A significant driver of this increase was accounts payable and accrued liabilities, which rose from US$8,382 million to US$11,490 million over the same period. Trade payables also contributed, increasing from US$3,205 million to US$4,859 million. Short-term borrowings exhibited volatility, peaking in 2022 at US$1,632 million before decreasing and then increasing again in 2025 to US$1,894 million. Dividends payable also showed a consistent upward trend, increasing from US$189 million to US$443 million.
Non-Current Liabilities: Non-current liabilities decreased from US$15,866 million in 2021 to US$13,128 million in 2022, then stabilized around US$13.2 - US$13.8 million for the following years, ending at US$12,856 million in 2025. Long-term debt, excluding the current portion, experienced a similar pattern, decreasing initially and then remaining relatively stable. Postretirement benefits and deferred taxes showed more significant fluctuations, with deferred taxes increasing substantially in 2025 to US$644 million.
Stockholders’ Equity: Total stockholders’ equity increased substantially from US$15,004 million in 2021 to US$26,109 million in 2025. Retained earnings were a primary contributor to this growth, rising from US$8,199 million to US$18,067 million. Common stock also increased significantly, particularly in 2025, reaching US$16,354 million. Treasury stock consistently decreased, representing a reduction in equity, moving from -US$2,233 million to -US$3,576 million. Accumulated other comprehensive loss remained negative throughout the period, but its magnitude decreased slightly over time.
Total Liabilities and Equity: Total liabilities and equity increased consistently from US$41,511 million in 2021 to US$54,868 million in 2025, reflecting the combined growth of both liabilities and equity. The increase was most pronounced between 2024 and 2025.
Billings and Cash Collections: Billings and cash collections in excess of revenue increased steadily from US$1,088 million in 2021 to US$2,264 million in 2025. This suggests improving cash flow management or a shift in revenue recognition practices.

In summary, the company experienced growth in both its liabilities and equity positions over the five-year period. The increase in equity, driven primarily by retained earnings and common stock, outpaced the growth in liabilities, suggesting strengthening financial health. The fluctuations in certain liability accounts warrant further investigation, but the overall trend indicates a financially expanding organization.

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SLB N.V. (NYSE:SLB)

Balance Sheet: Liabilities and Stockholders’ Equity