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.

Kellanova, consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 30, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 28, 2019
Current maturities of long-term debt	663)	780)	712)	627)	620)
Notes payable	121)	467)	137)	102)	107)
Accounts payable	2,314)	2,973)	2,573)	2,471)	2,387)
Current operating lease liabilities	121)	121)	116)	117)	114)
Accrued advertising and promotion	766)	766)	714)	776)	641)
Accrued salaries and wages	278)	370)	300)	378)	290)
Accrued income taxes	57)	49)	49)	58)	42)
Customer deposits	85)	150)	138)	—)	—)
Other current liabilities	655)	673)	576)	709)	577)
Other current liabilities	797)	872)	763)	767)	619)
Current liabilities	5,060)	6,349)	5,315)	5,238)	4,778)
Long-term debt, excluding current maturities	5,089)	5,317)	6,262)	6,746)	7,195)
Non-current operating lease liabilities	532)	486)	502)	520)	433)
Deferred income taxes	497)	760)	722)	562)	596)
Pension liability	613)	709)	706)	769)	705)
Income taxes payable	40)	37)	40)	56)	81)
Nonpension postretirement benefits	22)	22)	32)	34)	33)
Other	399)	441)	384)	435)	429)
Other liabilities	461)	500)	456)	525)	543)
Non-current liabilities	7,192)	7,772)	8,648)	9,122)	9,472)
Total liabilities	12,252)	14,121)	13,963)	14,360)	14,250)
Common stock, $0.25 par value	105)	105)	105)	105)	105)
Capital in excess of par value	1,101)	1,068)	1,023)	972)	921)
Retained earnings	8,804)	9,197)	9,028)	8,326)	7,859)
Treasury stock, at cost	(4,794)	(4,721)	(4,715)	(4,559)	(4,690)
Accumulated other comprehensive loss	(2,041)	(1,708)	(1,721)	(1,732)	(1,448)
Total Kellanova equity	3,175)	3,941)	3,720)	3,112)	2,747)
Noncontrolling interests	194)	434)	495)	524)	567)
Total equity	3,369)	4,375)	4,215)	3,636)	3,314)
Total liabilities and equity	15,621)	18,496)	18,178)	17,996)	17,564)

Based on: 10-K (reporting date: 2023-12-30), 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: 2019-12-28).

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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.	Kellanova current liabilities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Non-current liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Kellanova non-current liabilities decreased from 2021 to 2022 and from 2022 to 2023.
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.	Kellanova total liabilities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Total Kellanova 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.	Kellanova total Kellanova equity increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Kellanova (NYSE:K)

Balance Sheet: Liabilities and Stockholders’ Equity