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.
Analog Devices Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in thousands
May 2, 2026
Jan 31, 2026
Nov 1, 2025
Aug 2, 2025
May 3, 2025
Feb 1, 2025
Nov 2, 2024
Aug 3, 2024
May 4, 2024
Feb 3, 2024
Oct 28, 2023
Jul 29, 2023
Apr 29, 2023
Jan 28, 2023
Oct 29, 2022
Jul 30, 2022
Apr 30, 2022
Jan 29, 2022
Oct 30, 2021
Jul 31, 2021
May 1, 2021
Jan 30, 2021
Oct 31, 2020
Aug 1, 2020
May 2, 2020
Feb 1, 2020
Accounts payable
598,640)
549,058)
543,760)
490,723)
429,405)
368,939)
487,457)
424,735)
422,683)
398,107)
493,041)
585,570)
569,002)
534,659)
582,160)
545,068)
451,443)
436,227)
443,434)
265,933)
279,222)
227,423)
227,273)
215,894)
194,211)
211,670)
Income taxes payable
325,626)
755,829)
610,370)
475,033)
358,949)
487,456)
447,379)
398,347)
360,951)
410,013)
309,046)
423,438)
308,968)
513,943)
265,845)
445,726)
337,362)
400,420)
332,685)
233,055)
171,181)
148,191)
182,080)
149,376)
151,691)
118,406)
Debt, current
899,227)
898,900)
—)
—)
—)
399,855)
399,636)
899,251)
898,776)
499,322)
499,052)
—)
—)
—)
—)
—)
—)
—)
516,663)
1,324,677)
1,324,451)
399,220)
—)
449,324)
448,945)
748,460)
Commercial paper notes
550,198)
543,042)
446,639)
548,665)
548,720)
548,403)
547,738)
547,443)
548,235)
544,444)
547,224)
544,710)
253,635)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
Accrued liabilities
2,083,216)
1,583,794)
1,645,032)
1,464,617)
1,353,568)
1,166,343)
1,106,070)
956,853)
1,066,677)
1,071,480)
1,352,608)
1,277,300)
1,514,805)
1,385,075)
1,594,650)
1,450,407)
1,537,407)
1,385,259)
1,477,530)
969,677)
1,001,975)
901,923)
955,633)
873,182)
787,155)
692,006)
Current liabilities
4,456,907)
4,330,623)
3,245,801)
2,979,038)
2,690,642)
2,970,996)
2,988,280)
3,226,629)
3,297,322)
2,923,366)
3,200,971)
2,831,018)
2,646,410)
2,433,677)
2,442,655)
2,441,201)
2,326,212)
2,221,906)
2,770,312)
2,793,342)
2,776,829)
1,676,757)
1,364,986)
1,687,776)
1,582,002)
1,770,542)
Long-term debt, excluding current
7,235,424)
7,240,279)
8,145,066)
8,139,938)
6,648,417)
6,618,556)
6,634,313)
6,655,723)
6,611,681)
5,946,673)
5,902,457)
6,437,650)
6,475,646)
6,543,250)
6,548,625)
6,252,839)
6,253,215)
6,253,575)
6,253,212)
3,824,819)
3,823,595)
4,747,347)
5,145,102)
5,143,653)
5,142,223)
4,745,302)
Deferred income taxes
1,906,115)
1,995,833)
2,163,281)
2,371,536)
2,379,575)
2,514,866)
2,624,392)
2,743,015)
2,887,952)
2,975,815)
3,127,852)
3,150,748)
3,325,350)
3,477,044)
3,622,538)
3,764,370)
3,873,084)
3,952,185)
3,938,830)
1,776,308)
1,833,520)
1,862,068)
1,919,595)
1,961,009)
2,000,644)
2,055,100)
Income taxes payable
87,109)
103,644)
100,963)
99,880)
96,354)
261,564)
260,486)
266,150)
266,625)
415,535)
417,076)
441,361)
523,653)
712,376)
707,846)
712,982)
698,525)
832,204)
811,337)
529,057)
528,884)
592,281)
591,780)
591,509)
597,166)
656,103)
Other non-current liabilities
521,507)
533,552)
521,846)
516,367)
518,879)
531,029)
544,489)
536,748)
549,497)
579,002)
581,000)
582,216)
560,456)
536,688)
515,363)
536,187)
549,834)
528,432)
555,838)
453,701)
458,285)
473,911)
449,195)
438,061)
438,045)
460,263)
Non-current liabilities
9,750,155)
9,873,308)
10,931,156)
11,127,721)
9,643,225)
9,926,015)
10,063,680)
10,201,636)
10,315,755)
9,917,025)
10,028,385)
10,611,975)
10,885,105)
11,269,358)
11,394,372)
11,266,378)
11,374,658)
11,566,396)
11,559,217)
6,583,885)
6,644,284)
7,675,607)
8,105,672)
8,134,232)
8,178,078)
7,916,768)
Total liabilities
14,207,062)
14,203,931)
14,176,957)
14,106,759)
12,333,867)
12,897,011)
13,051,960)
13,428,265)
13,613,077)
12,840,391)
13,229,356)
13,442,993)
13,531,515)
13,703,035)
13,837,027)
13,707,579)
13,700,870)
13,788,302)
14,329,529)
9,377,227)
9,421,113)
9,352,364)
9,470,658)
9,822,008)
9,760,080)
9,687,310)
Preferred stock, $1.00 par value, none outstanding
A significant expansion of the balance sheet is observed between February 2020 and May 2026, characterized by a substantial increase in both total liabilities and shareholders' equity. The most prominent structural shift occurred in October 2021, where total assets and liabilities and equity surged from approximately 21.6 billion USD to over 52.3 billion USD, primarily driven by a massive increase in capital in excess of par value.
Current Liabilities Trends
Current liabilities exhibited a general upward trajectory, rising from 1.77 billion USD in February 2020 to 4.46 billion USD by May 2026. This growth was largely supported by a steady increase in accrued liabilities, which climbed from 692 million USD to 2.08 billion USD over the period. Accounts payable also saw significant growth, nearly tripling from 211 million USD to 598 million USD. Short-term debt obligations remained volatile, with a notable reliance on commercial paper notes appearing from April 2023 onwards, stabilizing around 540-550 million USD.
Non-Current Liabilities and Long-Term Debt
Long-term debt, excluding current portions, showed a marked increase from 4.75 billion USD in early 2020 to a peak of 8.15 billion USD in August 2025, before moderating to 7.24 billion USD by May 2026. Deferred income taxes experienced a sharp spike in October 2021, reaching 3.94 billion USD, followed by a consistent long-term decline to 1.91 billion USD by the end of the observed period. Overall, non-current liabilities peaked in late 2021 at 11.56 billion USD and gradually trended downward to 9.75 billion USD by May 2026.
Shareholders' Equity and Capital Structure
A fundamental shift in the capital structure is evident in October 2021, as shareholders' equity jumped from 12.26 billion USD to 37.99 billion USD. This was driven by capital in excess of par value rising from 4.61 billion USD to 30.57 billion USD. Following this peak, total equity entered a period of gradual contraction, ending at 33.74 billion USD in May 2026. Conversely, retained earnings demonstrated a consistent and healthy growth pattern, increasing from 6.91 billion USD in February 2020 to 11.53 billion USD in May 2026, indicating sustained profitability over the seven-year span.
The financial position is characterized by a transition from a leaner balance sheet to one with significantly higher leverage and equity. While total liabilities increased from 9.69 billion USD to 14.21 billion USD, the substantial increase in equity provided a larger capital cushion. However, the accelerating growth in current liabilities toward 2026 suggests an increasing reliance on short-term funding and accruals.
