Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Charter Communications Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data exhibits several notable trends in the proportions of liabilities and shareholders' equity as a percentage of total liabilities and shareholders’ equity over multiple quarterly periods.
- Accounts Payable, Accrued and Other Current Liabilities
- This category shows a generally increasing trend over the periods analyzed, rising from 5.67% in March 2020 to a peak of 7.92% projected for June 2025. The increase appears steady with minor fluctuations, indicating a gradual growth in current liabilities relative to the total capital structure.
- Current Portion of Long-term Debt
- The portion allocated to current long-term debt exhibits more variability. It drops sharply from 3.35% in March 2020 to 0.49% in June 2020, then fluctuates with some intermittent rises, reaching about 1.68% in December 2025 projections. Some missing values reduce certainty in trend consistency, but the data suggests a relatively lower current debt portion compared to earlier periods.
- Current Liabilities
- This category fluctuates substantially, starting at 9.02% in March 2020, falling to as low as 6.3% in June 2020, but increasing again to around 9.6% forecasted by December 2025. The trend indicates cyclic variations in current liabilities, with a gradual upward movement towards the end of the horizon.
- Long-term Debt, Less Current Portion
- Long-term debt consistently dominates the liabilities and shareholders’ equity structure. It trends upwards from 51.03% in March 2020 to a peak of approximately 66.49% in December 2022, then steadily declines to an estimated 60.6% by December 2025. This pattern suggests an initial increase in long-term debt prevalence followed by gradual deleveraging or restructuring.
- Equipment Installment Plan Financing Facility
- This category is introduced late in the data series, beginning with 0.59% in September 2024 and rising moderately to 0.86% by March 2025, indicating a newly recognized or growing financing facility component towards the terminal periods.
- Deferred Income Taxes
- Deferred income taxes maintain a fairly stable proportion, slightly increasing from 12.05% in March 2020 to about 13.4% in December 2021, followed by a very gradual decline towards 12.37% projected in June 2025. This reflects a consistent impact of deferred tax liabilities on the overall capital structure with minimal volatility.
- Other Long-term Liabilities
- This category remains relatively stable with a slight upward tendency, oscillating between 2.84% and 3.32%, and projecting around 3.13% towards mid-2025. This stability suggests minor changes in miscellaneous long-term obligations.
- Long-term Liabilities
- Long-term liabilities as a whole represent the largest portion, rising from 65.93% in March 2020 to a maximum near 83.33% in September 2022, then gradually decreasing to about 76.96% by December 2025. The overall trend indicates dominance of long-term obligations which peak and then slightly taper off in later periods.
- Total Liabilities
- Total liabilities increase from 74.94% in March 2020 to above 91% in the 2022 timeframe, before gradually declining to around 86.56% in June 2025. The pattern shows an initial intensification of liabilities relative to equity, followed by a modest reduction, potentially indicating efforts to rebalance capital structure.
- Additional Paid-in Capital
- This component shows a downward trend, starting at 21.52% in March 2020 and falling to about 15.64% by June 2025. The decrease suggests a relative contraction of contributed capital over time as a proportion of total financing.
- Retained Earnings (Accumulated Deficit)
- Retained earnings display a negative and fluctuating pattern, starting slightly positive at 0.3% in March 2020 but turning increasingly negative thereafter, with the lowest point at -10.26% in December 2022. Subsequently, the deficit narrows gradually to an estimated -3.45% by June 2025. This trend is indicative of accumulated losses or dividend distributions exceeding earnings over much of the period, with improvement in the latest quarters.
- Treasury Stock at Cost
- Treasury stock shows negative values throughout, reflecting shares repurchased and held by the company, with fluctuations around -1.6% to -7.6% between 2020 and 2021. Later periods show smaller relative negative figures, trending towards about -1.5% in mid-2025, indicating reduced treasury stock levels or changes in share repurchase activity.
- Total Charter Shareholders’ Equity
- The total shareholders’ equity proportion decreases substantially from 20.22% in March 2020 to a low of 6.19% in September 2022. From there, it increases slightly to approximately 10.76% projected in March 2025. This reflects a notable reduction in equity financing relative to liabilities during the initial periods, followed by a modest recovery later on.
- Noncontrolling Interests
- Noncontrolling interests decline from 4.84% in March 2020 to 2.37% in December 2022, before rebounding slightly to around 2.74% in June 2025. This suggests a reduction and slight stabilization of minority interests in subsidiaries over time.
- Total Shareholders’ Equity
- Total shareholders’ equity mirrors the combined trends of Charter shareholders’ equity and noncontrolling interests, falling from 25.06% in March 2020 to 8.6% in September 2022, with a gradual increase to about 13.44% forecasted in June 2025. Overall, this indicates a shift in the capital structure towards increased leverage during the earlier periods, with a progressive return to greater equity proportions more recently.
- Total Liabilities and Shareholders’ Equity
- By definition, the total equals 100% for all periods, serving as the basis for the relative comparisons above.
In summary, the data reveals an increasing reliance on long-term liabilities during the early and mid-periods, reaching a peak around 2022, accompanied by a reduction in total equity components, especially retained earnings and additional paid-in capital. This suggests periods of higher leverage and possibly earnings challenges. In later periods, a modest rebalancing occurs with decreases in liabilities' share and gradual improvements in equity, indicating potential deleveraging and strengthened equity positions. Current liabilities demonstrate cyclical fluctuations, while certain specific liabilities, like equipment installment financing, appear only in recent periods, hinting at evolving financing strategies.