Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Align Technology Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Accounts payable	99,693)	110,155)	130,561)	127,870)	138,918)	145,607)	186,509)	163,886)	174,916)	225,079)	124,298)	142,132)	119,184)	94,987)	72,690)	87,250)	63,300)	61,950)	62,512)	64,256)	43,065)	48,744)	41,881)
Accrued liabilities	614,462)	600,163)	497,248)	454,374)	383,618)	416,459)	465,071)	607,315)	545,286)	495,572)	406,672)	405,582)	318,471)	244,774)	259,459)	319,958)	286,132)	245,634)	252,754)	234,679)	219,035)	196,754)	180,093)
Finance lease liabilities	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	56,100)	—)	—)	—)	—)
Deferred revenues	1,408,831)	1,396,747)	1,376,789)	1,343,643)	1,286,867)	1,242,348)	1,212,067)	1,152,870)	1,070,113)	975,930)	862,872)	777,887)	684,139)	601,831)	578,537)	563,762)	520,712)	481,462)	433,518)	393,138)	356,109)	321,148)	296,011)
Current liabilities	2,122,986)	2,107,065)	2,004,598)	1,925,887)	1,809,403)	1,804,414)	1,863,647)	1,924,071)	1,790,315)	1,696,581)	1,393,842)	1,325,601)	1,121,794)	941,592)	910,686)	970,970)	870,144)	789,046)	804,884)	692,073)	618,209)	566,646)	517,985)
Income tax payable	116,443)	113,309)	126,541)	124,393)	127,059)	116,414)	123,476)	118,072)	125,986)	113,306)	109,668)	105,748)	108,669)	115,257)	109,128)	102,794)	101,914)	98,182)	93,463)	78,008)	95,655)	115,701)	119,349)
Long-term operating lease liabilities	98,523)	104,650)	99,002)	100,334)	96,694)	98,332)	104,983)	102,656)	74,352)	74,184)	63,845)	64,445)	65,518)	50,619)	53,745)	43,463)	43,365)	59,140)	59,307)	—)	—)	—)	—)
Other long-term liabilities	178,733)	181,225)	191,258)	195,975)	185,024)	191,878)	184,456)	174,597)	142,694)	127,087)	108,851)	100,024)	85,639)	73,344)	38,292)	37,306)	29,408)	25,967)	21,072)	29,486)	21,558)	15,283)	17,937)
Noncurrent liabilities	393,699)	399,184)	416,801)	420,702)	408,777)	406,624)	412,915)	395,325)	343,032)	314,577)	282,364)	270,217)	259,826)	239,220)	201,165)	183,563)	174,687)	183,289)	173,842)	107,494)	117,213)	130,984)	137,286)
Total liabilities	2,516,685)	2,506,249)	2,421,399)	2,346,589)	2,218,180)	2,211,038)	2,276,562)	2,319,396)	2,133,347)	2,011,158)	1,676,206)	1,595,818)	1,381,620)	1,180,812)	1,111,851)	1,154,533)	1,044,831)	972,335)	978,726)	799,567)	735,422)	697,630)	655,271)
Preferred stock, $0.0001 par value; none issued	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.0001 par value	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)	8)
Additional paid-in capital	1,193,057)	1,141,623)	1,104,693)	1,044,946)	1,060,698)	1,016,882)	992,287)	999,006)	972,450)	895,831)	948,362)	974,556)	951,740)	918,495)	895,131)	906,937)	892,309)	874,275)	855,956)	877,514)	865,271)	844,599)	858,632)
Accumulated other comprehensive income (loss), net	2,047)	11,343)	1,835)	(10,284)	(40,745)	(19,770)	(5,713)	4,326)	17,599)	29,616)	29,030)	43,501)	24,911)	9,101)	(193)	(688)	(1,927)	(1,876)	(2,281)	(2,774)	(728)	911)	1,484)
Retained earnings	2,606,754)	2,485,327)	2,373,513)	2,566,688)	2,674,661)	2,601,961)	2,680,270)	2,619,374)	2,526,705)	2,458,955)	2,416,176)	2,215,800)	2,056,812)	1,917,441)	1,958,043)	439,912)	415,159)	501,275)	402,021)	378,143)	328,432)	373,441)	267,336)
Stockholders’ equity	3,801,866)	3,638,301)	3,480,049)	3,601,358)	3,694,622)	3,599,081)	3,666,852)	3,622,714)	3,516,762)	3,384,410)	3,393,576)	3,233,865)	3,033,471)	2,845,045)	2,852,989)	1,346,169)	1,305,549)	1,373,682)	1,255,704)	1,252,891)	1,192,983)	1,218,959)	1,127,460)
Total liabilities and stockholders’ equity	6,318,551)	6,144,550)	5,901,448)	5,947,947)	5,912,802)	5,810,119)	5,943,414)	5,942,110)	5,650,109)	5,395,568)	5,069,782)	4,829,683)	4,415,091)	4,025,857)	3,964,840)	2,500,702)	2,350,380)	2,346,017)	2,234,430)	2,052,458)	1,928,405)	1,916,589)	1,782,731)

Liabilities Trends

Total liabilities exhibited an overall increasing trend from approximately 655 million USD at the end of Q1 2018 to nearly 2.52 billion USD by Q3 2023. The growth was steady with some acceleration noticed starting around Q1 2019 and continuing through 2021.

Current liabilities fluctuated but generally increased from around 518 million USD in early 2018 to over 2.12 billion USD in Q3 2023. A notable acceleration in current liabilities occurred in 2021, peaking in Q4 2021 before stabilizing somewhat through 2022 and 2023.

Noncurrent liabilities rose from approximately 137 million USD in Q1 2018 to a peak of about 420 million USD in late 2022, followed by a slight decline to around 394 million USD by Q3 2023.

Accounts payable showed volatility, with a general upward trajectory from 41.9 million USD in Q1 2018 to a peak of 225 million USD in Q2 2021, then declining steadily to just under 100 million USD by Q3 2023.

Accrued liabilities increased notably from 180 million USD in Q1 2018 to a peak of over 607 million USD in Q4 2021, before decreasing to approximately 614 million USD by Q3 2023, demonstrating some stabilization after rapid growth.

Deferred revenues consistently rose every quarter, from about 296 million USD in Q1 2018 to nearly 1.41 billion USD by Q3 2023, indicating growing advance revenue collection or customer prepayments.

Other long-term liabilities approximately tripled from 18 million USD in early 2018 to around 179 million USD in Q3 2023, with occasional fluctuations.

Finance lease liabilities appear only in 2019 with a value around 56 million USD and no further data, suggesting either the adoption or discontinuation of this liability category.

Long-term operating lease liabilities showed some volatility but trended upward overall, increasing from approximately 59 million USD in mid-2019 to about 98.5 million USD by mid-2023, indicating ongoing leasing obligations.

Stockholders’ Equity and Capital Structure

Stockholders’ equity more than tripled from approximately 1.13 billion USD in Q1 2018 to about 3.8 billion USD by Q3 2023, reflecting cumulative retained earnings growth and capital contributions.

Common stock par value remained constant and minimal at 8 thousand USD throughout the period, indicating no significant issuance of new common stock shares at par value.

Additional paid-in capital fluctuated but increased overall from approximately 859 million USD in early 2018 to over 1.19 billion USD by Q3 2023, signifying increased capital contributions beyond par value.

Retained earnings exhibited substantial growth, rising from 267 million USD at the start of 2018 to approximately 2.61 billion USD by Q3 2023, with some variability in between, indicating sustained profitability and earnings retention.

Accumulated other comprehensive income (loss) showed volatility with negative and positive swings: starting positive, turning negative through 2018 and 2019, rising to strong positive figures in 2020 and 2021, before declining back toward lower values in 2022 and 2023.

Overall Financial Position Insights

The company demonstrated consistent growth in liabilities, both current and noncurrent, reflecting expanding operations or financing activities. The strong increase in deferred revenues signals enhanced customer engagement or contract terms involving prepayments.

Capital structure showed strengthening through increased stockholders’ equity driven largely by retained earnings and additional paid-in capital contributions. Equity growth outpaced liability growth, supporting a stronger balance sheet position over time.

Observed fluctuations in accounts payable and accrued liabilities reveal periods of operational scaling, likely aligned with business cycles or changes in vendor and cost management.

The fluctuating accumulated other comprehensive income suggests exposure to variable items such as foreign currency translation or marketable securities valuation, contributing to net equity changes outside retained earnings.

In summary, the financial data illustrates an expanding and evolving balance sheet characterized by increasing liabilities to fund growth, continuous reinvestment of earnings, and a strengthening equity base.

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Align Technology Inc. (NASDAQ:ALGN)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data