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.

General Mills Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	May 26, 2019	May 27, 2018	May 28, 2017	May 29, 2016	May 31, 2015	May 25, 2014
Accounts payable	2,854,100)	2,746,200)	2,119,800)	2,046,500)	1,684,000)	1,611,300)
Current portion of long-term debt	1,396,500)	1,600,100)	604,700)	1,103,400)	1,000,400)	1,250,600)
Notes payable	1,468,700)	1,549,800)	1,234,100)	269,800)	615,800)	1,111,700)
Accrued trade and consumer promotions	484,400)	499,600)	482,600)	563,700)	564,700)	578,200)
Accrued payroll	345,500)	347,000)	326,600)	386,400)	361,800)	390,100)
Dividends payable	19,200)	17,500)	21,500)	23,800)	27,900)	33,500)
Accrued taxes	37,500)	94,800)	58,000)	110,500)	20,700)	63,100)
Accrued interest, including interest rate swaps	92,600)	107,700)	83,800)	90,400)	91,800)	92,500)
Grain contracts	2,300)	1,200)	5,600)	5,500)	7,800)	4,800)
Restructuring and other exit costs reserve	36,500)	66,800)	85,000)	76,600)	120,800)	3,500)
Derivative payable	13,200)	8,300)	18,100)	35,600)	122,900)	23,100)
Miscellaneous	336,600)	302,900)	291,000)	302,500)	271,500)	261,100)
Other current liabilities	1,367,800)	1,445,800)	1,372,200)	1,595,000)	1,589,900)	1,449,900)
Current liabilities	7,087,100)	7,341,900)	5,330,800)	5,014,700)	4,890,100)	5,423,500)
Long-term debt, excluding current portion	11,624,800)	12,668,700)	7,642,900)	7,057,700)	7,607,700)	6,423,500)
Deferred income taxes	2,031,000)	2,003,800)	1,719,400)	1,399,600)	1,550,300)	1,666,000)
Accrued compensation and benefits, including obligations for underfunded other postretirement benefit and postemployment benefit plans	1,153,300)	999,400)	1,249,700)	1,755,000)	1,451,400)	1,341,900)
Accrued taxes	227,100)	265,300)	162,300)	204,000)	202,500)	195,600)
Miscellaneous	68,500)	76,300)	111,100)	128,600)	90,900)	105,700)
Other liabilities	1,448,900)	1,341,000)	1,523,100)	2,087,600)	1,744,800)	1,643,200)
Noncurrent liabilities	15,104,700)	16,013,500)	10,885,400)	10,544,900)	10,902,800)	9,732,700)
Total liabilities	22,191,800)	23,355,400)	16,216,200)	15,559,600)	15,792,900)	15,156,200)
Redeemable interest	551,700)	776,200)	910,900)	845,600)	778,900)	984,100)
Common stock, $0.10 par value	75,500)	75,500)	75,500)	75,500)	75,500)	75,500)
Additional paid-in capital	1,386,700)	1,202,500)	1,120,900)	1,177,000)	1,296,700)	1,231,800)
Retained earnings	14,996,700)	14,459,600)	13,138,900)	12,616,500)	11,990,800)	11,787,200)
Common stock in treasury, at cost	(6,779,000)	(7,167,500)	(7,762,900)	(6,326,600)	(6,055,600)	(5,219,400)
Accumulated other comprehensive loss	(2,625,400)	(2,429,000)	(2,244,500)	(2,612,200)	(2,310,700)	(1,340,300)
Stockholders’ equity	7,054,500)	6,141,100)	4,327,900)	4,930,200)	4,996,700)	6,534,800)
Noncontrolling interests	313,200)	351,300)	357,600)	376,900)	396,000)	470,600)
Total equity	7,367,700)	6,492,400)	4,685,500)	5,307,100)	5,392,700)	7,005,400)
Total liabilities and equity	30,111,200)	30,624,000)	21,812,600)	21,712,300)	21,964,500)	23,145,700)

Based on: 10-K (reporting date: 2019-05-26), 10-K (reporting date: 2018-05-27), 10-K (reporting date: 2017-05-28), 10-K (reporting date: 2016-05-29), 10-K (reporting date: 2015-05-31), 10-K (reporting date: 2014-05-25).

Download chart

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.	General Mills Inc. current liabilities increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	General Mills Inc. noncurrent liabilities increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
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.	General Mills Inc. total liabilities increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Stockholders’ 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.	General Mills Inc. stockholders’ equity increased from 2017 to 2018 and from 2018 to 2019.

General Mills Inc. (NYSE:GIS)

Balance Sheet: Liabilities and Stockholders’ Equity