Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Dollar Tree Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).
- Current portion of long-term debt
- This metric showed a gradual increase from 0.75% in April 2016 to a peak of 5.61% in February 2018, followed by a fluctuating decline, reaching as low as 1.28% in February 2020 before rising again near 5.13% in May 2020 and then decreasing to 1.53% by October 2022. The data suggests episodic increases with intermittent reductions over time.
- Current portion of operating lease liabilities
- The data for this category begins in February 2019, remaining relatively stable between 6.09% and 6.69% over multiple quarters through October 2022, indicating consistent short-term lease obligations as a portion of total liabilities and equity.
- Accounts payable
- This liability fluctuated around 7%-8% in most quarters, with a noticeable spike to 10.49% in February 2019, followed by a decline to a range between approximately 6.13% and 9.28% over subsequent periods. The trend suggests moderate variability without a strong directional shift.
- Income taxes payable
- This item exhibited irregular values with some missing data, mostly fluctuating under 1% of total liabilities and equity. There was a peak at 1.38% in January 2017, with most other periods showing values close to zero or low fractions, implying low immediate tax liabilities with intermittent variations.
- Other current liabilities
- Other current liabilities ranged predominantly between 3.1% and 4.7%, showing minor fluctuations but no clear upward or downward trend over the entire period. This suggests stable ancillary current liabilities relative to company total financing.
- Current liabilities
- Current liabilities as a whole initially hovered around 12-14%, spiked to 17.51% in February 2018, and then rose to peak around 21% by late 2019 and early 2020. After this peak, the metric exhibited some decline before stabilizing between 18% and 20% through 2022, indicating an overall increase in short-term obligations relative to the company’s financing base.
- Long-term debt, net, excluding current portion
- A steady declining trend was observed from 44.89% in April 2016 to below 15% by the end of the period in October 2022. This consistent reduction indicates a diminishing reliance on net long-term borrowing over time relative to total liabilities and equity.
- Operating lease liabilities, long-term
- Data starting from February 2019 shows a range between approximately 22.5% and 25.5%, with slight fluctuations but no major shifts, reflecting a relatively stable long-term lease commitment component of financing.
- Unfavorable lease rights, net of accumulated amortization
- From April 2016 to February 2019, this minor liability component decreased gradually from 0.89% to around 0.5%, signifying a slow amortization or reduction in leasing-related unfavorable rights over time.
- Deferred income taxes, net
- This liability decreased significantly from 9.75% in April 2016 to around 4.5%-5% in the later periods, with some minor fluctuations. The decline suggests a reduction in deferred tax obligations relative to the total financing structure.
- Income taxes payable, long-term
- This obligation decreased marginally over time, moving from about 0.44% to approximately 0.1%, pointing to a steady lessening of long-term tax liabilities in the financial structure.
- Other liabilities
- Other liabilities declined markedly from over 2.1% to near 1.1% by October 2022, indicating a reduction in miscellaneous noncurrent obligations relative to total liabilities and equity.
- Noncurrent liabilities
- This category showed a clear downward trend starting from 58.17% in April 2016, dropping consistently to around 43.4% by October 2022. This decrease reflects a shift away from long-term obligations in the company’s capital structure.
- Total liabilities
- Total liabilities declined from approximately 71% to around 63% over the period, with some volatile increases near 70% in 2019 and early 2020. The overall trend signals a gradual deleveraging or increased equity proportion in company financing.
- Shareholders’ equity
- Shareholders’ equity proportion increased markedly from 29.07% in April 2016 to a peak near 47.7% in late 2018, then decreased to approximately 29-31% during 2019, before steadily rising again, stabilizing between 33% and 37% toward late 2022. This shows an increase in equity financing relative to liabilities especially in the earlier and later years with some interim dip.
- Total liabilities and shareholders’ equity
- By definition, this remained constant at 100% throughout the period, providing the basis for the proportional analysis of various liabilities and equity items.