Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Advanced Micro Devices Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-06-27), 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27).
A significant structural shift in the capital composition occurred between December 2021 and March 2022, characterized by a substantial reduction in the proportion of total liabilities relative to total assets. Total liabilities decreased from a peak of 39.63% in December 2021 to 17.31% in March 2022, subsequently stabilizing within a range of 16% to 21% through June 2026. This transition indicates a move toward a more equity-heavy financing strategy and a reduction in overall financial leverage.
- Current Liabilities and Short-term Obligations
- Current liabilities experienced a sharp contraction in early 2022, dropping from 34.14% in December 2021 to 8.34% in March 2022. This decline was primarily driven by a reduction in accounts payable and accrued liabilities. While current liabilities remained relatively low for several years, a gradual upward trend is observed starting in March 2024, reaching 14.30% by June 2026. This suggests a modest increase in short-term operational obligations in more recent quarters.
- Long-term Debt and Fixed Liabilities
- Long-term liabilities have remained a small portion of the overall balance sheet, generally fluctuating between 5.72% and 10.09% after the 2022 shift. Long-term debt, net of current portions, remained consistently low, typically staying below 5%. Deferred tax liabilities showed a steady decline from 4.65% in March 2022 to 0.36% by June 2026, reflecting a diminishing long-term tax obligation relative to the total balance sheet size.
- Equity Evolution and Retained Earnings
- Stockholders' equity increased from approximately 60-66% in 2021 to over 80% starting in March 2022. A critical trend is observed in retained earnings, which transitioned from a deep accumulated deficit of -40.39% in March 2021 to positive territory in September 2023. This positive trajectory continued, peaking at 10.15% in March 2026, signaling a shift toward sustained profitability and internal capital accumulation.
- Capital Contributions and Share Repurchases
- Additional paid-in capital, while remaining the largest component of equity, showed a long-term downward trend from 106.08% in March 2021 to 72.66% in June 2026. Concurrently, treasury stock grew as a negative percentage of the total balance sheet, moving from -1.40% in March 2021 to -9.32% in March 2026. This pattern indicates an aggressive and consistent program of share repurchases used to return value to shareholders.
The overall financial profile reveals a transition from a period of high relative liabilities and accumulated deficits to a position of strong solvency and profitability. The current balance sheet is dominated by equity, with a lean liability structure and a growing reserve of retained earnings, providing significant financial flexibility for future operations.
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