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

	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	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	2,354,200)	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	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	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	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	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	1,508,900)	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	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	9,320,700)	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	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	765,300)	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	1,591,500)	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	2,575,800)	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	14,383,100)	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	21,303,400)	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	83,100)	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	4,204,500)	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	1,029,400)	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	(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	(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	4,598,300)	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	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)

The liabilities and stockholders’ equity of the company demonstrate several notable trends over the observed period from March 2021 to June 2025. Total liabilities generally increased throughout the period, with significant fluctuations in certain components. Shareholders’ equity exhibited more volatility, with periods of decline followed by substantial growth, particularly in the later years of the observation window.

Short-Term Borrowings: Short-term borrowings experienced considerable variability. Initially decreasing from March 2021 to September 2021, they surged significantly in March 2022, reaching a peak. Subsequently, these borrowings decreased through December 2022, then increased again in early 2024, before declining to a lower level by June 2025. This suggests a dynamic approach to short-term financing, potentially linked to operational needs or strategic investments.
Accounts Payable: Accounts payable remained relatively stable between March 2021 and December 2022, fluctuating within a narrow range. A slight upward trend is observed from March 2024 through June 2025, though the values remain comparable to those seen earlier in the period. This indicates consistent management of supplier credit terms.
Accrued Liabilities (Compensation, Taxes, Other): Compensation and taxes withheld, accrued taxes, and other accruals all generally increased over the period. Compensation and taxes withheld showed a notable increase from March 2023 through December 2023, potentially reflecting seasonal hiring or bonus payments. Other accruals demonstrated a consistent upward trend, suggesting a growing volume of unliquidated obligations. Accrued taxes also showed an increase in the latter part of the period.
Debt Structure (Current & Long-Term): The current portion of long-term debt fluctuated significantly, with a substantial increase in March 2023 and June 2023, followed by a decrease. Long-term debt, excluding the current portion, remained relatively stable between March 2021 and December 2022, then increased, particularly from September 2022 onwards. The company’s overall debt levels increased throughout the period, indicating a reliance on debt financing. The long-term operating lease liabilities also showed a consistent increase throughout the period.
Shareholders’ Equity Components: Common stock remained relatively constant. Other capital increased steadily throughout the period. Retained earnings experienced significant growth, particularly from June 2022 onwards, indicating profitability and reinvestment of earnings. Treasury stock consistently decreased (became more negative) throughout the period, suggesting ongoing share repurchases. Accumulated other comprehensive loss also became more negative over time, potentially due to unrealized losses on investments or foreign currency translation adjustments.
Total Liabilities and Equity: Total liabilities and shareholders’ equity increased overall from March 2021 to June 2025. The most substantial increases occurred between September 2022 and June 2025, driven primarily by increases in long-term liabilities and retained earnings. This suggests a period of growth and expansion, funded by both debt and internally generated funds.

In summary, the company’s financial position evolved over the observed period with increasing debt levels and growing shareholders’ equity. The fluctuations in short-term borrowings and the current portion of long-term debt suggest active management of short-term financing needs. The growth in retained earnings indicates profitability, while the share repurchase program is reflected in the decreasing treasury stock balance.

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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