Stock Analysis on Net

Intel Corp. (NASDAQ:INTC)

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.

Intel Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

Microsoft Excel
Mar 29, 2025 Dec 28, 2024 Sep 28, 2024 Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 25, 2021 Sep 25, 2021 Jun 26, 2021 Mar 27, 2021 Dec 26, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020
Accounts payable 10,896 12,556 11,074 9,618 8,559 8,578 8,669 8,757 8,083 9,595 7,133 7,945 7,210 5,747 6,792 5,917 5,434 5,581 5,159 5,045 4,638
Accrued compensation and benefits 2,652 3,343 5,015 2,651 2,506 3,655 3,115 2,887 2,497 4,084 3,421 2,730 2,731 4,535 4,026 3,176 2,757 3,999 3,197 2,833 2,358
Short-term debt 5,240 3,729 3,765 4,695 4,581 2,288 2,288 2,711 1,437 4,367 2,283 2,882 4,459 4,591 4,694 3,695 2,647 2,504 504 2,254 3,464
Income taxes payable 1,873 1,756 2,440 1,856 346 1,107 2,112 2,169 4,046 2,251
Other accrued liabilities 11,513 14,282 12,865 13,207 11,221 12,425 12,430 10,656 11,330 11,858 14,976 13,661 14,922 12,589 14,060 12,048 13,313 12,670 13,252 12,349 13,435
Current liabilities 32,174 35,666 35,159 32,027 27,213 28,053 28,614 27,180 27,393 32,155 27,813 27,218 29,322 27,462 29,572 24,836 24,151 24,754 22,112 22,481 23,895
Long-term debt 44,911 46,282 46,471 48,334 47,869 46,978 46,591 46,335 48,836 37,684 37,240 32,548 32,788 33,510 35,610 31,714 33,237 33,897 36,059 36,093 36,455
Other long-term liabilities 8,744 9,505 7,048 5,410 6,895 6,576 7,946 7,643 8,671 8,978 9,903 9,434 11,110 12,043 12,693 12,840 13,427 13,402 12,536 11,955 11,006
Long-term liabilities 53,655 55,787 53,519 53,744 54,764 53,554 54,537 53,978 57,507 46,662 47,143 41,982 43,898 45,553 48,303 44,554 46,664 47,299 48,595 48,048 47,461
Total liabilities 85,829 91,453 88,678 85,771 81,977 81,607 83,151 81,158 84,900 78,817 74,956 69,200 73,220 73,015 77,875 69,390 70,815 72,053 70,707 70,529 71,356
Temporary equity
Common stock and capital in excess of par value 51,920 50,949 50,665 49,763 38,291 36,649 35,653 34,330 32,829 31,580 30,912 29,858 29,244 28,006 27,592 26,655 26,272 25,556 23,335 25,516 25,251
Accumulated other comprehensive loss (486) (711) (185) (696) (542) (215) (861) (544) (419) (562) (2,051) (1,625) (1,002) (880) (1,147) (1,095) (1,103) (751) (940) (1,152) (1,541)
Retained earnings 48,322 49,032 49,052 66,162 68,224 69,156 67,021 67,231 65,649 70,405 71,024 72,985 74,894 68,265 63,642 59,647 54,638 56,233 52,159 57,646 52,644
Total Intel stockholders’ equity 99,756 99,270 99,532 115,229 105,973 105,590 101,813 101,017 98,059 101,423 99,885 101,218 103,136 95,391 90,087 85,207 79,807 81,038 74,554 82,010 76,354
Non-controlling interests 6,657 5,762 5,332 5,205 4,783 4,375 3,873 3,454 2,344 1,863
Total stockholders’ equity 106,413 105,032 104,864 120,434 110,756 109,965 105,686 104,471 100,403 103,286 99,885 101,218 103,136 95,391 90,087 85,207 79,807 81,038 74,554 82,010 76,354
Total liabilities, temporary equity, and stockholders’ equity 192,242 196,485 193,542 206,205 192,733 191,572 188,837 185,629 185,303 182,103 174,841 170,418 176,356 168,406 167,962 154,597 150,622 153,091 145,261 152,539 147,710

Based on: 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27), 10-K (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).


Accounts payable
The accounts payable balance demonstrated an overall increasing trend from March 2020 through March 2025, with fluctuations. Initial values near $4.6 billion rose to a peak exceeding $12.5 billion in December 2024, before slightly declining to approximately $10.9 billion by March 2025. This pattern suggests growing short-term obligations to suppliers and possibly increased procurement or operational scale.
Accrued compensation and benefits
Accrued compensation and benefits showed notable volatility across the quarters. After a rise through 2020 ending near $4.0 billion, values declined substantially in 2022, followed by another surge in late 2024 reaching approximately $5.0 billion, then declining again by March 2025. The fluctuations may reflect changes in workforce compensation strategies, bonuses, or temporal recognition of employee-related liabilities.
Short-term debt
Short-term debt exhibited irregular movements, starting with $3.5 billion in early 2020, dipping mid-year 2020 to $0.5 billion, then rising again, peaking at $5.2 billion by December 2024. This rise and fall pattern indicates variability in short-term borrowing requirements, possibly linked to cash flow management and working capital needs.
Income taxes payable
Income taxes payable data is only available from October 2022 onward. The figures fluctuated between roughly $350 million and $4.0 billion, with no clear trend, indicating variability in tax liabilities or timing of payments within quarters.
Other accrued liabilities
Other accrued liabilities generally fluctuated between $11 billion and $15 billion, with intermittent declines and increases. Notably, there was a decrease around mid-2023, followed by partial recovery toward early 2025, suggesting variability in miscellaneous accrued obligations affecting current liabilities.
Current liabilities
Current liabilities ranged mostly between $22 billion and $36 billion, with an upward trend apparent toward 2024, reaching a high of approximately $35.7 billion in late 2024 before slightly decreasing. This reflects growing short-term obligations potentially associated with operational expansion or increased short-term financing.
Long-term debt
Long-term debt remained generally stable around $33 billion to $38 billion during the first three years, then increased sharply to nearly $49 billion by early 2023. This elevated level was sustained through late 2024 and then slightly declined to about $44.9 billion by early 2025, indicating significant issuance or refinancing activity in longer-term borrowing.
Other long-term liabilities
Other long-term liabilities showed a gradual decreasing trend from about $13.4 billion in late 2020 to as low as approximately $5.4 billion by mid-2024, with some recovery toward the end of 2024. The decline suggests amortization or settlement of such liabilities, partially offset by sporadic increases possibly related to new obligations.
Long-term liabilities
Total long-term liabilities mirrored the components’ behavior, decreasing through 2023 and early 2024 from roughly $48.5 billion to around $53.7 billion by late 2024, with fluctuations. The data suggests a somewhat stable but slightly increasing burden of long-term obligations over time.
Total liabilities
Total liabilities fluctuated between $69.3 billion and $91.5 billion across the periods, with a general upward trajectory into 2024. Liability levels peaked in late 2024 near $91.5 billion before easing slightly by March 2025 to about $85.8 billion, reflecting increasing overall obligations but some recent reduction pressures.
Common stock and capital in excess of par value
This component steadily increased from approximately $25.3 billion in early 2020 to over $51.9 billion by March 2025, indicating ongoing equity issuance or capital inflows contributing to shareholder equity expansion.
Accumulated other comprehensive loss
The accumulated other comprehensive loss fluctuated overall, with negative values ranging from about −$1.5 billion to less than −$0.2 billion. There was no consistent directional trend; instead, it oscillated in magnitude, implying shifts in unrealized losses related to foreign currency, pension adjustments, or marketable securities valuations.
Retained earnings
Retained earnings grew from roughly $52.6 billion in early 2020 to peak near $74.9 billion by April 2022, then steadily declined to approximately $48.3 billion by March 2025. The decline in recent years might indicate increased dividend payments, share repurchases, or net losses outweighing earnings retention.
Total Intel stockholders’ equity
Stockholders’ equity generally trended upward from about $76.4 billion in early 2020 to a high exceeding $115 billion by mid-2024. However, equity decreased thereafter to just under $100 billion by late 2024 and early 2025, suggesting possible capital reductions, losses, or adjustments impacting overall equity levels.
Non-controlling interests
Non-controlling interests appeared from October 2022 onward, increasing steadily from approximately $1.9 billion to $6.7 billion by March 2025, indicating growing minority interests in consolidated entities.
Total stockholders’ equity
Overall total stockholders' equity followed the pattern of Intel stockholders’ equity plus non-controlling interests, with a peak near $120.4 billion in mid-2024, then decreasing to about $106.4 billion by March 2025, reflecting the combined impact of internal operations, equity changes, and minority interests.
Total liabilities, temporary equity, and stockholders’ equity
The combined total grew from approximately $147.7 billion in March 2020 to a peak near $206.2 billion in mid-2024. Subsequently, this aggregate decreased, ending close to $192.2 billion by March 2025. This trajectory illustrates overall growth in the balance sheet size, followed by a modest contraction in the latest quarters.