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.
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Cisco Systems Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-04-26), 10-Q (reporting date: 2025-01-25), 10-Q (reporting date: 2024-10-26), 10-K (reporting date: 2024-07-27), 10-Q (reporting date: 2024-04-27), 10-Q (reporting date: 2024-01-27), 10-Q (reporting date: 2023-10-28), 10-K (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-K (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-23), 10-Q (reporting date: 2020-10-24), 10-K (reporting date: 2020-07-25), 10-Q (reporting date: 2020-04-25), 10-Q (reporting date: 2020-01-25), 10-Q (reporting date: 2019-10-26), 10-K (reporting date: 2019-07-27), 10-Q (reporting date: 2019-04-27), 10-Q (reporting date: 2019-01-26), 10-Q (reporting date: 2018-10-27).
- Short-term debt
- The short-term debt exhibits significant volatility throughout the observed periods. It peaked notably around the early quarters of 2019, reaching as high as approximately $10 billion, followed by sharp declines and subsequent fluctuations. More recently, from 2023 to 2025, short-term debt shows large increases again, surpassing $11 billion before a slight dip near the end of the timeline.
- Accounts payable
- Accounts payable fluctuate moderately, generally ranging between $1.6 billion and $2.4 billion. There is no clear upward or downward trend, but values show cyclical rises and falls, reflecting either seasonal factors or operational changes without a marked directional shift.
- Income taxes payable (current)
- Current income taxes payable show considerable growth beginning in 2022, escalating from under $1 billion to over $4 billion by mid-2023. This spike indicates increased taxable income or deferred tax liabilities. The values then decline sharply towards 2024 and 2025.
- Accrued compensation
- Accrued compensation generally trends upward across the periods, moving from about $2.6 billion to peaks around $3.9 billion in mid-2023. This indicates growing employee-related liabilities, possibly correlating with workforce growth or increased compensation expenses.
- Deferred revenue (current)
- Current deferred revenue demonstrates a steady upward trend, rising from approximately $9.6 billion in late 2018 to over $16 billion by 2024-2025. This consistent increase suggests a growing volume of prepayments or unfulfilled obligations, likely tied to subscription or service-based revenue models.
- Other current liabilities
- Other current liabilities fluctuate moderately within the $4 billion to $5.6 billion range without a strong trend. The item peaks around 2024 and then slightly declines, indicating relatively stable short-term obligations outside the main categories.
- Current liabilities (total)
- Total current liabilities show considerable volatility but generally increase toward the later periods. After a dip around 2020 and 2021, current liabilities grow significantly from 2023 onward, reaching over $40 billion, driven largely by surges in short-term debt and deferred revenue.
- Long-term debt, excluding current portion
- Long-term debt declines steadily from late 2018 through mid-2023, dropping from around $18.3 billion to approximately $6.6 billion. However, starting in 2023, the figure rebounds sharply to over $22 billion by 2025, indicating new debt issuance or refinancing activities.
- Income taxes payable (long-term)
- Long-term income taxes payable decrease progressively from about $8.2 billion in 2018 to around $1.8 billion by 2025. This steady reduction may reflect changes in tax obligations or settlement of deferred tax liabilities over time.
- Deferred revenue (long-term)
- Long-term deferred revenue remains relatively stable, fluctuating slightly around $7.2 billion to $12 billion, with a mild upward bias in recent years. This stability supports the recurring nature of certain revenue streams.
- Other long-term liabilities
- Other long-term liabilities remain fairly stable, hovering between $1.2 billion and $2.7 billion, showing minor increases over time, suggesting consistent non-debt long-term obligations.
- Long-term liabilities (total)
- Total long-term liabilities decrease mildly from approximately $35.2 billion in 2018 to about $26.5 billion by mid-2023 before a sudden, large increase to nearly $39.4 billion by 2025. This surge aligns with the increase in long-term debt observed in the same period.
- Total liabilities
- Total liabilities experienced gradual decline from around $61.6 billion to roughly $53.6 billion by early 2021, followed by oscillations and an upward spike to above $77 billion in 2023-2024, then a decrease toward 2025. This pattern reflects the interplay between current and long-term liabilities changes, notably the debt components.
- Common stock and additional paid-in capital
- This equity component shows a strong upward trend, increasing from approximately $41.9 billion in 2018 to $46.9 billion by 2025. The steady increase indicates ongoing equity injections, stock issuances, or capital contributions over time.
- Retained earnings (accumulated deficit)
- Retained earnings exhibit high variability: a steep decline from positive to negative territory until 2020, reaching around negative $5.9 billion, followed by recovery and positive growth thereafter, peaking near $2.8 billion in early 2024. It declines somewhat in the final periods. This pattern suggests losses or dividends exceeded earnings initially, then profitability improved significantly.
- Accumulated other comprehensive loss
- The accumulated other comprehensive loss fluctuates widely but generally remains within negative $0.8 billion to negative $2 billion. There is increased loss during 2021-2022, with some recovery afterward but without a consistent directional trend.
- Total equity
- Total equity decreases markedly from about $43.8 billion in late 2018 to $33.6 billion in mid-2019, then recovers steadily to reach near $46 billion by 2025. The trend reflects the initial erosion of retained earnings offset by growth in paid-in capital, followed by recovery of profitability and equity base expansion.
- Total liabilities and equity
- The sum of liabilities and equity declines from approximately $105.4 billion in 2018 to below $92 billion in 2022, before rebounding strongly to over $122 billion by 2024 and slightly receding near $120 billion in 2025. These movements indicate overall growth in the balance sheet size, especially pronounced in the latter years due to increased liabilities and equity expansion.