Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2008
- Current Ratio since 2008
- Analysis of Debt
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Activision Blizzard Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity
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).
- Liabilities
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There is a general decreasing trend in total liabilities as a percentage of total liabilities and shareholders’ equity, moving from 36.32% in 2018 to 29.73% in 2022. This reduction reflects a lower reliance on liabilities in the company's capital structure over the analyzed period.
Current liabilities declined significantly from 14.81% in 2018 to a low of 9.62% in 2021, before rising again to 12.98% in 2022. Within current liabilities, accounts payable gradually decreased, indicating slightly improved payment terms or reduced short-term obligations.
Deferred revenues showed volatility, falling from 8.37% in 2018 to a low of 4.46% in 2021, before rebounding to 7.63% in 2022, suggesting fluctuations in revenue recognition timing or customer prepayments.
Accrued expenses and other liabilities decreased overall from 5.02% to 4.17%, with the lowest point in 2021, indicating possible better control over accrued obligations.
Non-current liabilities followed a declining trend from 21.51% in 2018 to 16.74% in 2022. Long-term debt as a percentage of total liabilities and shareholders’ equity dropped from 14.98% in 2018 to 13.19% in 2022, highlighting a modest reduction in debt levels.
Deferred income taxes spiked in 2019 to 2.54% but then declined to 0.58% by 2022, reflecting changes in tax positions or timing differences.
The category of other liabilities steadily decreased from 6.43% in 2018 to 2.98% in 2022, reinforcing the trend toward lower long-term obligations.
- Shareholders' Equity
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Shareholders’ equity increased from 63.68% in 2018 to 70.27% in 2022, indicating a strengthening equity base relative to total capitalization.
Retained earnings showed consistent growth from 36.77% to 48.1%, reflecting accumulated profitability and a reinvestment of earnings into the company.
Additional paid-in capital declined steadily from 61.47% to 44.77%, suggesting lower inflows from equity issuances or changes in capital contributions.
Treasury stock’s negative percentage decreased in absolute terms, from -31.19% to -20.32%, pointing to a reduction in treasury stock holdings, which can positively influence net equity.
Accumulated other comprehensive loss improved slightly, with the negative percentage moving from -3.37% to -2.28%, suggesting a diminishing impact of unrealized losses or valuation adjustments.
- Overall Capital Structure Trends
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The overall capital structure moved towards a higher equity composition and lower liabilities percentage over the five-year period. This shift may signify a strategic emphasis on strengthening the balance sheet and reducing financial leverage.
Fluctuations in deferred revenues and current liabilities in later years may reflect operational changes or adjustments in revenue recognition policies.
The steady increase in retained earnings combined with a reduction in treasury stock balances supports the interpretation of improving financial health and shareholder value retention.