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Consolidated Balance Sheet - USD (S) $ in MillionsDec. 31, 2018Dec. 31, 2017Current assetsCash and cash equivalents$ 3,042$3,177Notes and accounts receivable, less estimated doubtful amounts24,7025,597InventoriesCrude oil, products and merchandiseMaterials and supplies12,87114,8034,1554,121Other current assets1,2721,36847,973Total current assets47,134Investments, advances and long-term receivables40,79039,160Property, plant and equipment, at cost, less accumulated depreciation and depletionOther assets, including intangibles, net247,10252,63010,3329,767Total assets348,691346,196Current liabilitiesNotes and loans payable17,93017,258Accounts payable and accrued liabilitiesIncome taxes payable37,26836,7962,6123,04557,771Total current liabilities57,138|Long-term debtPostretirement benefits reserves20,53824,40620,27221,13227,244Deferred income tax liabilities26,893Long-term obligations to equity companiesOther long-term obligations4,3824,77418,09419,215Total liabilities147,668154,19Commitments and contingenciesEquity15,258Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)14,656Earnings reinvestedAccumulated other comprehensive income421,653414,540(19,564)(16,262)(225,553)191,794Common stock held in treasury (3,782 million shares in 2018 and 3,780 million shares in 2017)ExxonMobil share of equity(225,246)187,688Noncontrolling interestsTotal equityTotal liabilities and equity6,8126,73498,528194,500$ 346,196348,691

Question

Converting a balance sheet to a common size balance sheet

Consolidated Balance Sheet - USD (S) $ in Millions
Dec. 31, 2018
Dec. 31, 2017
Current assets
Cash and cash equivalents
$ 3,042
$3,177
Notes and accounts receivable, less estimated doubtful amounts
24,70
25,597
Inventories
Crude oil, products and merchandise
Materials and supplies
12,871
14,803
4,155
4,121
Other current assets
1,272
1,368
47,973
Total current assets
47,134
Investments, advances and long-term receivables
40,790
39,160
Property, plant and equipment, at cost, less accumulated depreciation and depletion
Other assets, including intangibles, net
247,10
252,630
10,332
9,767
Total assets
348,691
346,196
Current liabilities
Notes and loans payable
17,930
17,258
Accounts payable and accrued liabilities
Income taxes payable
37,268
36,796
2,612
3,045
57,771
Total current liabilities
57,138
|Long-term debt
Postretirement benefits reserves
20,538
24,406
20,272
21,132
27,244
Deferred income tax liabilities
26,893
Long-term obligations to equity companies
Other long-term obligations
4,382
4,774
18,094
19,215
Total liabilities
147,668
154,19
Commitments and contingencies
Equity
15,258
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)
14,656
Earnings reinvested
Accumulated other comprehensive income
421,653
414,540
(19,564)
(16,262)
(225,553)
191,794
Common stock held in treasury (3,782 million shares in 2018 and 3,780 million shares in 2017)
ExxonMobil share of equity
(225,246)
187,688
Noncontrolling interests
Total equity
Total liabilities and equity
6,812
6,734
98,528
194,500
$ 346,196
348,691
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Consolidated Balance Sheet - USD (S) $ in Millions Dec. 31, 2018 Dec. 31, 2017 Current assets Cash and cash equivalents $ 3,042 $3,177 Notes and accounts receivable, less estimated doubtful amounts 24,70 25,597 Inventories Crude oil, products and merchandise Materials and supplies 12,871 14,803 4,155 4,121 Other current assets 1,272 1,368 47,973 Total current assets 47,134 Investments, advances and long-term receivables 40,790 39,160 Property, plant and equipment, at cost, less accumulated depreciation and depletion Other assets, including intangibles, net 247,10 252,630 10,332 9,767 Total assets 348,691 346,196 Current liabilities Notes and loans payable 17,930 17,258 Accounts payable and accrued liabilities Income taxes payable 37,268 36,796 2,612 3,045 57,771 Total current liabilities 57,138 |Long-term debt Postretirement benefits reserves 20,538 24,406 20,272 21,132 27,244 Deferred income tax liabilities 26,893 Long-term obligations to equity companies Other long-term obligations 4,382 4,774 18,094 19,215 Total liabilities 147,668 154,19 Commitments and contingencies Equity 15,258 Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) 14,656 Earnings reinvested Accumulated other comprehensive income 421,653 414,540 (19,564) (16,262) (225,553) 191,794 Common stock held in treasury (3,782 million shares in 2018 and 3,780 million shares in 2017) ExxonMobil share of equity (225,246) 187,688 Noncontrolling interests Total equity Total liabilities and equity 6,812 6,734 98,528 194,500 $ 346,196 348,691

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check_circleAnswer
Step 1

Common size financial statements: These are the financial statements in which all the items are expressed as percentages, assuming a base value, to help the intra-comparison of financial data for different years, and inter-comparison of data with other companies.

Step 2

Prepare a common size balance sheet for the year 2018.

A
C
E
2
Common size balance sheet
Increased
Amount (S
in million)
Assets
decreased
3
percentage
4
Current aszets
Cash and cash equivalents
Notes and accounts receivable, less estimated doubtful
$3,042
0.88%
S 24,701
6
amounts
7.13%
0.00 %
4.28 %
Imventories:
Crude oil, products and merchandise
Materials and supplies
Other current assets
Non-curent azzets
Investments, advances and long term receivables
Property, plant and equipment, at cost, less aceumulated
depreication and depletion
Other assets, including intangible assets
Total assets
7
8
$14,803
S4,155
$1,272
1.20%
9
10
0.37%
11
$ 40,790
11.78%
12
S 247.101
$ 10.332
71.38%
13
2.98%
14
S346.196
100.00%
15
Liabilities and shareholder's equity
16
Crent liabilities
Notes and loans payable
Accounts payable and accrved liabilities
Income taxes payable
Non-current liabilities
Long-term debt
Post retirement benefits reserves
Daferred income tax liabilities
Long-term obligaions to equity companies
Other long term obligations
Total liabilities (A)
Equity
Common stock without par vaive
Earnings re-invested
Accumulated other comprehensive income
Common stock held in treasury
17
4.99%
$ 17,258
$37,268
18
19
10.77 %
20
S2,612
0.75%
21
5.93%
22
$20,538
$20,272
$ 27,244
5.86%
23
24
7.87%
127%
25
S4,382
$18.094
S 147.668
26
5.23%
27
42.65%
28
23
S 15,258
$ 421,653
-$ 19,564
4.41 %
30
121.80%
31
-5.65%
-65.15%
32
-$ 225,553
$6.734
S 198.528
Non-controlling interest
Total equity (B)
Total liabilities and equities (A+B)
33
195%
34
57.35%
100.00%
35
S346.196
36
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A C E 2 Common size balance sheet Increased Amount (S in million) Assets decreased 3 percentage 4 Current aszets Cash and cash equivalents Notes and accounts receivable, less estimated doubtful $3,042 0.88% S 24,701 6 amounts 7.13% 0.00 % 4.28 % Imventories: Crude oil, products and merchandise Materials and supplies Other current assets Non-curent azzets Investments, advances and long term receivables Property, plant and equipment, at cost, less aceumulated depreication and depletion Other assets, including intangible assets Total assets 7 8 $14,803 S4,155 $1,272 1.20% 9 10 0.37% 11 $ 40,790 11.78% 12 S 247.101 $ 10.332 71.38% 13 2.98% 14 S346.196 100.00% 15 Liabilities and shareholder's equity 16 Crent liabilities Notes and loans payable Accounts payable and accrved liabilities Income taxes payable Non-current liabilities Long-term debt Post retirement benefits reserves Daferred income tax liabilities Long-term obligaions to equity companies Other long term obligations Total liabilities (A) Equity Common stock without par vaive Earnings re-invested Accumulated other comprehensive income Common stock held in treasury 17 4.99% $ 17,258 $37,268 18 19 10.77 % 20 S2,612 0.75% 21 5.93% 22 $20,538 $20,272 $ 27,244 5.86% 23 24 7.87% 127% 25 S4,382 $18.094 S 147.668 26 5.23% 27 42.65% 28 23 S 15,258 $ 421,653 -$ 19,564 4.41 % 30 121.80% 31 -5.65% -65.15% 32 -$ 225,553 $6.734 S 198.528 Non-controlling interest Total equity (B) Total liabilities and equities (A+B) 33 195% 34 57.35% 100.00% 35 S346.196 36

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Step 3

Excel workings:

...
E
1
2
Common size balance sheet
Increased/
Amount (S in
million)
Assets
decreaced
3
percentage
Current atzets
Cash and cash eguivalents
Notes and accounts receivable, less estimated
doubtful amounts
Imentories
Crude oil, products and merchandise
Materials and supplies
Other current assets
Non-eurrent aszets
Investments, advances and long term receivables
Property, plant and equipment, at cost, less
accumulated depreication and depletion
Other assets, including intanțible asets
Total assets
Liabilities and shareholder's equity
Current liabilities
Notes and loans payable
Accounts payable and accrsed liabilities
Income taxes payable
Non-eurrent liabilitiez:
Long-term debt
Post retirement benefits reserves
Deferred income tax liabilities
Long-term obliaions to equity companies
Other long term obligations
Total liabilities (A)
Equity:
Common stock without par value
Earnings re-invested
Accumulated other comprehenaive income
Common stock held in treasury
Non-controlling interest
Total equity (B)
Total liabilities and equities (A+B)
4
3042
C5/SC$15
5
24701
-C6/SC$15
C7/SC$ 15
-C8/ SC$15
-C9/SC$15
C10/SCS15
6
7
14803
4155
|1272
8
10
11
40790
C12/SCS15
12
247101
10332
SIM(CS:C14C15/SCS15
C13/SC$15
-C14 SC$15
13
14
15
16
17
|C18/SCS15
C19/SCS15
C20/SCS15
17258
37268
|2612
18
19
21
22
20538
20272
27244
4382
|18094
|SUM(C18-C26) C27/SCS15
C22/SCS15
C23/SCS15
C24/SCS15
C25/SC$15
C26/SCS15
23
24
25
26
27
28
15258
|421653
-19564
-225553
6734
SUMC29 C33)C34/SCS15
C17-C3
C29/SCS15
C30/SCS15
C31/SCS15
C32/SC$15
C33/SCS15
29
30
31
32
33
34
C35/SCS15
35
36
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E 1 2 Common size balance sheet Increased/ Amount (S in million) Assets decreaced 3 percentage Current atzets Cash and cash eguivalents Notes and accounts receivable, less estimated doubtful amounts Imentories Crude oil, products and merchandise Materials and supplies Other current assets Non-eurrent aszets Investments, advances and long term receivables Property, plant and equipment, at cost, less accumulated depreication and depletion Other assets, including intanțible asets Total assets Liabilities and shareholder's equity Current liabilities Notes and loans payable Accounts payable and accrsed liabilities Income taxes payable Non-eurrent liabilitiez: Long-term debt Post retirement benefits reserves Deferred income tax liabilities Long-term obliaions to equity companies Other long term obligations Total liabilities (A) Equity: Common stock without par value Earnings re-invested Accumulated other comprehenaive income Common stock held in treasury Non-controlling interest Total equity (B) Total liabilities and equities (A+B) 4 3042 C5/SC$15 5 24701 -C6/SC$15 C7/SC$ 15 -C8/ SC$15 -C9/SC$15 C10/SCS15 6 7 14803 4155 |1272 8 10 11 40790 C12/SCS15 12 247101 10332 SIM(CS:C14C15/SCS15 C13/SC$15 -C14 SC$15 13 14 15 16 17 |C18/SCS15 C19/SCS15 C20/SCS15 17258 37268 |2612 18 19 21 22 20538 20272 27244 4382 |18094 |SUM(C18-C26) C27/SCS15 C22/SCS15 C23/SCS15 C24/SCS15 C25/SC$15 C26/SCS15 23 24 25 26 27 28 15258 |421653 -19564 -225553 6734 SUMC29 C33)C34/SCS15 C17-C3 C29/SCS15 C30/SCS15 C31/SCS15 C32/SC$15 C33/SCS15 29 30 31 32 33 34 C35/SCS15 35 36

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