Balance Sheet: Liabilities and Stockholders’ Equity
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.
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Broadcom Inc. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2009
- Price to Operating Profit (P/OP) since 2009
- Price to Sales (P/S) since 2009
- Analysis of Debt
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Broadcom Inc., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
Based on: 10-K (reporting date: 2025-11-02), 10-K (reporting date: 2024-11-03), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01).
The financial data for the company over a six-year period reveals several notable trends in its liabilities, equity, and overall financial structure.
- Current Liabilities
- Current liabilities displayed a fluctuating but overall increasing trend, rising from US$6,371 million in 2020 to US$18,514 million in 2025. Within this category, accounts payable increased steadily until 2024, peaking at US$1,662 million before slightly declining in 2025. Employee compensation and benefits showed substantial growth, doubling between 2023 and 2025 from US$935 million to US$2,129 million, indicating potential expansion or increased labor costs. Short-term debt fluctuated but exhibited a sharp increase in 2023 and 2025, reaching US$3,152 million, which may suggest greater reliance on short-term borrowing. Contract liabilities within current liabilities surged dramatically in the last two periods, multiplying more than threefold by 2025 to US$9,469 million. Tax liabilities displayed moderate volatility but increased overall. Notably, interest payable, absent from initial years, rose notably to US$620 million by 2025.
- Long-term Liabilities
- Long-term debt, excluding the current portion, showed a declining trajectory from 2020 to 2023 but doubled by 2024, reaching US$66,295 million, before slightly decreasing in 2025. Long-term contract liabilities followed a similar pattern, initially declining but then increasing sharply in 2024 to US$5,100 million before falling to US$3,547 million. Deferred tax liabilities appeared only from 2023 onwards and soared to US$4,703 million in 2024 before dropping to US$2,704 million in 2025. Unrecognized tax benefits, interest, and penalties decreased overall, halving in value by 2025 relative to 2020 levels. Other long-term liabilities decreased steadily until 2023 before surging substantially in 2024, followed by a decline in 2025. Consequently, total long-term liabilities saw a steep increase in 2024 to US$81,270 million, then receded to US$71,286 million in 2025.
- Total Liabilities
- Total liabilities remained relatively stable around US$50 billion through 2023 but nearly doubled in 2024 and remained elevated in 2025 at approximately US$90 billion. This significant increase is mainly attributable to the sharp rises noted in current and long-term liabilities, particularly contract liabilities and long-term debt.
- Stockholders’ Equity
- Stockholders' equity showed modest fluctuations early on, decreasing slightly in 2022 but recovering by 2023. A pronounced increase occurred from 2023 onward, with equity reaching US$81,292 million in 2025, more than tripling from 2023. This growth is largely driven by substantial increases in additional paid-in capital post-2023, which jumped from approximately US$21 billion to over US$71 billion by 2025. Retained earnings showed consistent growth through 2023 and experienced a notable increase by 2025. Accumulated other comprehensive income remained relatively minor but turned positive after 2021, stabilizing near US$200 million.
- Capital Structure and Financial Position
- The company’s total liabilities and equity approximately doubled between 2023 and 2025, reflecting significant expansion in both debt and equity components. The surge in contract liabilities along with the increase in paid-in capital suggests major corporate actions or transactions potentially involving acquisitions, capital raises, or restructuring. The increased short-term debt and interest payable indicate higher financing costs or liquidity needs. Despite the rise in liabilities, the substantial increase in equity provides a cushioning effect, suggesting maintained or improved solvency position.
Overall, the financial statements reflect a period of relative stability until 2023, followed by significant growth and restructuring in 2024 and 2025, marked by increased leverage and enhanced equity capital. Careful monitoring of debt repayment capacity and the drivers behind elevated contract liabilities and paid-in capital would be recommended for further financial assessment.