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.

Old Dominion Freight Line Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Accounts payable	106,275)	82,519)	68,511)	70,254)	78,518)
Compensation and benefits	288,278)	257,905)	191,303)	192,524)	198,456)
Claims and insurance accruals	63,307)	61,822)	53,092)	54,330)	53,263)
Other accrued liabilities	51,933)	61,988)	51,513)	46,130)	26,495)
Current maturities of long-term debt	20,000)	—)	—)	—)	—)
Income taxes payable	—)	—)	8,711)	2,847)	—)
Current liabilities	529,793)	464,234)	373,130)	366,085)	356,732)
Long-term debt, excluding current maturities	79,963)	99,947)	99,931)	45,000)	45,000)
Other non-current liabilities	265,422)	328,838)	349,851)	241,802)	215,399)
Deferred income taxes	310,515)	248,718)	220,210)	261,964)	247,669)
Long-term liabilities	655,900)	677,503)	669,992)	548,766)	508,068)
Total liabilities	1,185,693)	1,141,737)	1,043,122)	914,851)	864,800)
Common stock, $0.10 par value	11,022)	11,501)	11,706)	7,969)	8,123)
Capital in excess of par value	244,590)	174,445)	226,451)	222,430)	142,176)
Retained earnings	3,397,305)	3,493,861)	3,088,131)	2,850,318)	2,530,184)
Accumulated other comprehensive income	—)	—)	—)	—)	—)
Shareholders’ equity	3,652,917)	3,679,807)	3,326,288)	3,080,717)	2,680,483)
Total liabilities and shareholders’ equity	4,838,610)	4,821,544)	4,369,410)	3,995,568)	3,545,283)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Old Dominion Freight Line Inc. current liabilities increased from 2020 to 2021 and from 2021 to 2022.
Long-term liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Old Dominion Freight Line Inc. long-term liabilities increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Old Dominion Freight Line Inc. total liabilities increased from 2020 to 2021 and from 2021 to 2022.
Shareholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Old Dominion Freight Line Inc. shareholders’ equity increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.

Old Dominion Freight Line Inc. (NASDAQ:ODFL)

Balance Sheet: Liabilities and Stockholders’ Equity