Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Sherwin-Williams Co., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Short-term borrowings	2,376,600)	1,200,500)	1,846,900)	1,706,700)	1,798,500)	662,400)	915,500)	1,358,300)	1,256,300)	374,200)	338,600)	806,200)	1,481,300)	978,100)	945,200)	2,012,000)	1,739,700)	763,500)	709,400)	762,100)	818,100)
Accounts payable	2,603,400)	2,354,200)	2,441,600)	2,570,000)	2,512,900)	2,253,200)	2,537,700)	2,493,900)	2,453,900)	2,315,000)	2,424,800)	2,489,700)	2,513,600)	2,436,500)	2,808,400)	2,992,900)	2,860,800)	2,403,000)	2,675,400)	2,502,800)	2,217,000)
Compensation and taxes withheld	592,000)	839,400)	709,400)	688,900)	566,700)	842,800)	726,000)	708,600)	560,200)	862,700)	768,300)	700,500)	528,000)	784,500)	650,600)	587,600)	572,300)	716,600)	692,100)	593,100)	551,200)
Accrued taxes	271,700)	187,400)	254,600)	255,800)	225,900)	174,300)	214,500)	347,100)	240,000)	197,400)	379,800)	308,000)	315,100)	197,400)	205,300)	185,600)	178,200)	160,300)	181,300)	228,800)	282,600)
Current portion of long-term debt	100)	350,100)	350,500)	1,150,700)	1,150,800)	1,049,200)	1,048,900)	849,700)	1,349,100)	1,098,800)	1,098,200)	499,500)	600)	600)	600)	600)	260,700)	260,600)	662,100)	687,100)	428,500)
Current portion of operating lease liabilities	484,700)	479,800)	479,800)	480,700)	470,100)	466,600)	462,800)	457,800)	454,000)	449,300)	441,100)	436,100)	430,200)	425,300)	418,100)	418,100)	416,000)	409,700)	398,800)	393,000)	385,800)
Other accruals	1,206,100)	1,508,900)	1,390,700)	1,343,600)	1,151,800)	1,360,200)	1,312,700)	1,251,200)	1,170,000)	1,329,500)	1,172,400)	1,099,100)	1,037,200)	1,138,300)	1,067,800)	1,001,400)	925,400)	1,005,800)	1,159,400)	1,023,500)	968,400)
Current liabilities	7,534,600)	6,920,300)	7,473,500)	8,196,400)	7,876,700)	6,808,700)	7,218,100)	7,466,600)	7,483,500)	6,626,900)	6,623,200)	6,339,100)	6,306,000)	5,960,700)	6,096,000)	7,198,200)	6,953,100)	5,719,500)	6,478,500)	6,190,400)	5,651,600)
Long-term debt, excluding current portion	9,323,100)	9,320,700)	9,318,100)	7,828,900)	7,827,100)	8,176,800)	8,175,300)	8,130,800)	8,129,500)	8,377,900)	8,499,200)	9,095,700)	9,593,100)	9,591,000)	9,588,900)	8,593,600)	8,592,300)	8,590,900)	7,604,900)	7,603,800)	7,862,400)
Postretirement benefits other than pensions	131,600)	129,800)	120,700)	120,700)	120,700)	120,700)	133,200)	133,200)	133,200)	133,200)	139,300)	139,300)	139,300)	139,300)	256,500)	257,500)	258,400)	259,400)	271,800)	273,100)	274,300)
Deferred income taxes	765,400)	765,300)	657,200)	560,900)	586,000)	607,500)	631,700)	642,000)	666,300)	683,100)	648,400)	710,900)	739,900)	681,600)	691,800)	754,000)	760,200)	768,200)	801,500)	803,400)	797,800)
Long-term operating lease liabilities, excluding current portion	1,602,200)	1,591,500)	1,582,300)	1,603,200)	1,573,400)	1,558,300)	1,496,500)	1,502,900)	1,495,100)	1,509,500)	1,502,900)	1,503,200)	1,494,900)	1,512,900)	1,492,400)	1,483,100)	1,481,200)	1,470,700)	1,433,900)	1,429,500)	1,402,900)
Other long-term liabilities	2,590,700)	2,575,800)	2,629,300)	2,652,600)	2,522,100)	2,309,400)	2,157,400)	2,106,700)	2,016,800)	1,908,000)	1,811,500)	1,746,800)	1,689,900)	1,606,400)	1,522,400)	1,541,800)	1,450,900)	1,420,800)	1,455,700)	1,379,000)	1,367,300)
Long-term liabilities	14,413,000)	14,383,100)	14,307,600)	12,766,300)	12,629,300)	12,772,700)	12,594,100)	12,515,600)	12,440,900)	12,611,700)	12,601,300)	13,195,900)	13,657,100)	13,531,200)	13,552,000)	12,630,000)	12,543,000)	12,510,000)	11,567,800)	11,488,800)	11,704,700)
Total liabilities	21,947,600)	21,303,400)	21,781,100)	20,962,700)	20,506,000)	19,581,400)	19,812,200)	19,982,200)	19,924,400)	19,238,600)	19,224,500)	19,535,000)	19,963,100)	19,491,900)	19,648,000)	19,828,200)	19,496,100)	18,229,500)	18,046,300)	17,679,200)	17,356,300)
Common stock, $0.33-1/3 par value	83,200)	83,100)	92,900)	92,700)	92,600)	92,500)	92,400)	92,100)	92,000)	91,800)	91,700)	91,400)	91,300)	91,200)	91,100)	91,000)	91,000)	90,800)	90,500)	90,600)	90,200)
Other capital	4,275,500)	4,204,500)	4,727,700)	4,680,200)	4,622,400)	4,576,200)	4,471,400)	4,342,000)	4,298,800)	4,193,600)	4,103,900)	4,044,600)	3,998,000)	3,963,900)	3,919,600)	3,880,300)	3,842,700)	3,793,000)	3,688,100)	3,608,100)	3,543,600)
Retained earnings	1,367,000)	1,029,400)	8,744,000)	8,106,600)	7,549,800)	7,246,300)	6,946,000)	6,322,300)	5,611,000)	5,288,300)	5,087,400)	4,481,500)	3,844,100)	3,523,200)	3,292,600)	2,763,300)	2,341,500)	2,121,700)	1,961,800)	1,604,800)	1,102,100)
Treasury stock, at cost	(707,800)	(84,300)	(8,549,200)	(7,880,700)	(7,361,800)	(6,988,600)	(6,677,500)	(6,227,700)	(5,793,100)	(5,233,600)	(4,746,600)	(4,335,100)	(4,100,800)	(3,775,600)	(3,643,000)	(3,595,400)	(3,298,900)	(2,869,900)	(2,263,400)	(1,761,900)	(893,400)
Accumulated other comprehensive loss	(586,800)	(634,400)	(590,100)	(597,900)	(772,900)	(875,200)	(676,200)	(776,900)	(705,000)	(624,300)	(756,400)	(651,300)	(665,800)	(700,600)	(1,062,500)	(914,600)	(742,000)	(698,400)	(786,700)	(701,200)	(763,800)
Shareholders’ equity	4,431,100)	4,598,300)	4,425,300)	4,400,900)	4,130,100)	4,051,200)	4,156,100)	3,751,800)	3,503,700)	3,715,800)	3,780,000)	3,631,100)	3,166,800)	3,102,100)	2,597,800)	2,224,600)	2,234,300)	2,437,200)	2,690,300)	2,840,400)	3,078,700)
Total liabilities and shareholders’ equity	26,378,700)	25,901,700)	26,206,400)	25,363,600)	24,636,100)	23,632,600)	23,968,300)	23,734,000)	23,428,100)	22,954,400)	23,004,500)	23,166,100)	23,129,900)	22,594,000)	22,245,800)	22,052,800)	21,730,400)	20,666,700)	20,736,600)	20,519,600)	20,435,000)

Total liabilities exhibit a consistent long-term upward trajectory, rising from 17.36 billion USD in March 2021 to 21.95 billion USD by March 2026. This expansion is characterized by a simultaneous increase in both current and long-term obligations, contributing to a broader growth in the total capital structure, which reached 26.38 billion USD by the end of the analyzed period.

Current Liability Trends: Current liabilities grew from 5.65 billion USD in March 2021 to 7.53 billion USD in March 2026. This trend is marked by significant volatility in short-term borrowings, which peaked at 2.38 billion USD in March 2026 after various cyclical fluctuations. Accounts payable remained relatively stable, generally oscillating between 2.2 billion USD and 2.6 billion USD. The current portion of long-term debt showed erratic patterns, dropping to near-zero levels in mid-2022 before climbing to a peak of 1.35 billion USD in March 2024.
Long-Term Obligation Analysis: Long-term liabilities increased from 11.70 billion USD in March 2021 to 14.41 billion USD in March 2026. Long-term debt, excluding the current portion, remained the primary component, fluctuating between 7.6 billion USD and 9.6 billion USD. A steady growth pattern is observable in other long-term liabilities, which nearly doubled from 1.37 billion USD in March 2021 to 2.59 billion USD in March 2026. Conversely, postretirement benefits and deferred income taxes showed a general downward trend over the same period.
Shareholders' Equity Dynamics: Shareholders' equity experienced a U-shaped progression, declining from 3.08 billion USD in March 2021 to a low of 2.22 billion USD in June 2022, before recovering to 4.43 billion USD by March 2026. Retained earnings grew aggressively from 1.10 billion USD in March 2021 to a peak of 8.74 billion USD in September 2025. However, a substantial contraction occurred in December 2025, with retained earnings falling to 1.03 billion USD. This coincides with a sharp reduction in treasury stock, which moved from a deficit of 8.55 billion USD in September 2025 to 84.3 million USD in December 2025, suggesting a significant capital restructuring event during the fourth quarter of 2025.
Capital Structure and Solvency: The balance between liabilities and equity shifted over the period. While total liabilities grew by approximately 26%, shareholders' equity grew by approximately 44% from its initial 2021 position. The reliance on debt remains high, but the recovery and eventual increase in equity provide a larger capital cushion compared to the lows observed in early 2022.

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Sherwin-Williams Co. (NYSE:SHW)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data