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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SLB N.V., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
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).
- Liabilities Trends
- Trade accounts payable demonstrated an upward trend from 2937 million in 2020, peaking at 4613 million in 2023 before declining to 4230 million in 2024. Payroll, vacation, and employee benefits exhibited fluctuations, initially decreasing in 2021, increasing through 2023, and then slightly dropping in 2024. Billings and cash collections in excess of revenue showed consistent growth, nearly doubling from 941 million in 2020 to 2007 million in 2024. The category termed "Other" within liabilities rated a general decline over the years, moving from 3040 million in 2020 to 2663 million in 2024. Accounts payable and accrued liabilities increased steadily, from 8442 million to 10,375 million over the five years.
- The estimated liability for taxes on income presented relative stability, oscillating modestly around 1000 million. Short-term borrowings and current portion of long-term debt increased notably in 2022, peaking at 1632 million, then receded in subsequent years. Dividends payable showed a consistent rise from 184 million in 2020 to 403 million in 2024. Overall, current liabilities increased from 10,491 million in 2020 to a peak of 13,395 million in 2023, then slightly decreased to 12,811 million in 2024.
- Long-term debt, excluding current portions, decreased significantly from 16,036 million in 2020 to 10,594 million in 2022, then slightly increased thereafter. Postretirement benefits dropped sharply between 2020 and 2022, remaining stable until 2023, followed by a pronounced increase to 512 million in 2024. Deferred taxes fluctuated without clear trend while other liabilities stayed relatively stable with a minor decline. Non-current liabilities decreased substantially from 19,454 million in 2020 to 13,128 million in 2022 and then showed slight recovery reaching 13,774 million in 2024.
- Total liabilities diminished notably from 29,945 million in 2020 to 25,146 million in 2022, then rebounded to approximately 26,585 million in 2024, reflecting moderate increase after initial reduction.
- Equity Trends
- Common stock experienced a gradual decline from 12,970 million in 2020 to 11,458 million in 2024. Treasury stock trended upward from -3033 million in 2020, significantly recovering to -678 million in 2023 before decreasing again to -1773 million in 2024. Retained earnings consistently grew, more than doubling from 7,018 million to 16,395 million, demonstrating strong internal financing and profitability over the period.
- Accumulated other comprehensive loss increased in absolute terms, moving from -4,884 million to -4,950 million, indicating widening comprehensive losses. Total stockholders’ equity rose steadily from 12,071 million in 2020 to 21,130 million in 2024, supported by retained earnings growth but partially offset by accumulated comprehensive loss.
- Noncontrolling interests fluctuated, initially decreasing from 418 million to 282 million and then increasing sharply to over 1,200 million by 2024. Consequently, total equity expanded markedly from 12,489 million in 2020 to 22,350 million in 2024.
- Overall Financial Position
- The total liabilities and equity rose from 42,434 million in 2020 to 48,935 million in 2024, indicating growth in the company's financial base. The decline in total liabilities between 2020 and 2022 followed by a rebound suggests active liability management, while the consistent increase in equity emphasizes strengthened capitalization mainly driven by retained earnings.
- The interplay between rising current liabilities, especially in payables and billings in excess of revenue, alongside growing equity, depicts a company leveraging both operational financing and internal resources effectively. The notable increase in dividends payable and treasury stock movements also highlights shareholder-related activities intensifying over the period.