Stock Analysis on Net
Stock Analysis on Net

Thermo Fisher Scientific Inc. (NYSE:TMO)

$24.99

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.

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Thermo Fisher Scientific Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Mar 29, 2025 Dec 31, 2024 Sep 28, 2024 Jun 29, 2024 Mar 30, 2024 Dec 31, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020
Short-term obligations and current maturities of long-term obligations
Accounts payable
Accrued payroll and employee benefits
Contract liabilities
Other accrued expenses
Current liabilities
Deferred income taxes
Other long-term liabilities
Long-term obligations, excluding current maturities
Long-term liabilities
Total liabilities
Redeemable noncontrolling interest
Preferred stock, $100 par value; none issued
Common stock, $1 par value
Capital in excess of par value
Retained earnings
Treasury stock at cost
Accumulated other comprehensive loss
Total Thermo Fisher Scientific Inc. shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities, redeemable noncontrolling interest and equity

Based on: 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).

Short-term obligations and current maturities of long-term obligations
The figures show significant fluctuations over the periods, with values initially low or minimal around 2020, followed by substantial spikes in late 2020 and early 2021. After peaking, the amounts decrease and then display irregular variations through to early 2025, suggesting variability in short-term debt management and refinancing activities.
Accounts payable
Accounts payable exhibit a general upward trend from early 2020 through late 2021, peaking at nearly 2.9 billion USD. Thereafter, there is moderate volatility with some decreases in mid-2023 but an overall maintenance of higher levels compared to early 2020, indicating sustained or increased procurement activities on credit terms.
Accrued payroll and employee benefits
This liability shows a rising trend from early 2020 to the end of 2021, reaching over 2.4 billion USD. Subsequently, it experiences a decline with periodic fluctuations but generally sustains elevated values relative to the start of the period, reflecting variations in payroll accruals possibly due to workforce or compensation changes.
Contract liabilities
Contract liabilities steadily increase from less than 1 billion USD in early 2020 to over 2.5 billion USD by late 2021, maintaining high levels with minor oscillations thereafter. This indicates an increasing amount of deferred revenue or prepayments from customers, suggesting growing advance contract obligations.
Other accrued expenses
Other accrued expenses rise notably over the review period, nearly doubling from approximately 1.5 billion USD in early 2020 to peaks above 3.3 billion USD by late 2022. The values remain elevated with fluctuations, indicating growing accrued liabilities such as taxes, utilities, or other operating costs.
Current liabilities
Current liabilities show marked increases with sharp jumps in late 2020 and 2021, peaking around 17 billion USD. Thereafter, they somewhat stabilize yet remain significantly higher than early 2020 levels. This suggests an expansion of short-term financial obligations and current operational liabilities over time.
Deferred income taxes
A downward trend is evident in deferred income taxes from early 2020 through the period, declining from over 2.1 billion USD to near 1 billion USD by early 2025, reflecting changes in tax positions or timing differences in income recognition and expense deductions.
Other long-term liabilities
Other long-term liabilities show a gradual increase through 2021, peaking above 4.6 billion USD, followed by a slow decrease and stabilization around the 4 billion USD range through early 2025. This indicates sustained but managed long-term obligations outside of standard debt.
Long-term obligations, excluding current maturities
Long-term obligations generally trend upwards with substantial growth from approximately 19 billion USD in early 2020 to over 31 billion USD by late 2024 and early 2025. This growth denotes an increase in long-term debt or financing liabilities over the period under review.
Long-term liabilities
Long-term liabilities overall mirror the trend in long-term obligations, growing from about 24.6 billion USD in early 2020 to a peak exceeding 40 billion USD in 2021 before declining somewhat and fluctuating near 36-37 billion USD in later periods, indicating significant long-term financial commitments with periodic adjustments.
Total liabilities
Total liabilities rise sharply in late 2021, surpassing 54 billion USD, before decreasing and fluctuating between 47 billion USD and 52 billion USD in subsequent periods. This highlights an overall expansion of the company's total debt and other liabilities followed by some deleveraging or liability restructuring.
Redeemable noncontrolling interest
The redeemable noncontrolling interest appears from late 2021 onwards, maintaining relatively low values around 100-130 million USD with minor fluctuations, indicating a small but consistent minority interest that is redeemable.
Common stock and capital in excess of par value
Common stock shows minimal growth over the period, indicating negligible changes in the number or par value of shares issued. Capital in excess of par value steadily increases, reflecting new equity capital contributions or retained earnings reinvested over time.
Retained earnings
Retained earnings exhibit a consistent and robust increase from about 22.8 billion USD in early 2020 to approximately 54.4 billion USD by early 2025. This sustained growth reflects accumulated profits retained within the company, indicating strong operational profitability over the periods reviewed.
Treasury stock at cost
The treasury stock values become progressively more negative, moving from -6.8 billion USD in early 2020 to over -21 billion USD by early 2025. This trend signifies ongoing share repurchases, which reduce shareholders’ equity but may enhance per-share metrics.
Accumulated other comprehensive loss
Accumulated other comprehensive loss fluctuates between approximately -2.3 billion USD and -3.2 billion USD, indicating persistent but varying unrealized losses related to items such as foreign currency translation or pension adjustments.
Total shareholders’ equity
Shareholders’ equity increases steadily from around 28.6 billion USD to near 49.6 billion USD by late 2024, with occasional slight declines. This growth demonstrates overall strengthening equity base driven mainly by retained earnings growth despite treasury stock repurchases and comprehensive losses.
Noncontrolling interests
Noncontrolling interests fluctuate mildly and turn negative in later periods, suggesting minor impacts from subsidiary ownership changes or adjustments in minority interests.
Total equity
Total equity trends closely with shareholders' equity, showing steady growth with some volatility. This confirms the dominant influence of majority shareholders’ equity on overall equity despite minor changes in noncontrolling interests.
Total liabilities, redeemable noncontrolling interest and equity
The total of liabilities, redeemable noncontrolling interest, and equity rises from about 58.7 billion USD in early 2020 to nearly 100 billion USD by late 2024, indicating substantial growth in the company’s total capitalization and financial resources over the reviewed periods.