Stock Analysis on Net
Stock Analysis on Net

Keurig Dr Pepper Inc. (NASDAQ:KDP)

This company has been moved to the archive! The financial data has not been updated since July 28, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Keurig Dr Pepper Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Accounts payable 8.53 7.51 6.41 4.70
Customer rebates & incentives 0.88 0.77 0.73 0.70
Accrued compensation 0.45 0.43 0.37 0.44
Insurance reserve 0.07 0.07 0.08 0.08
Interest accrual 0.11 0.11 0.11 0.16
Accrued professional fees 0.04 0.04 0.06 0.23
Other accrued expenses 0.65 0.66 0.55 0.47
Accrued expenses 2.19% 2.09% 1.90% 2.07%
Structured payables 0.28 0.31 0.65 1.08
Short-term borrowings and current portion of long-term obligations 0.60 4.71 3.22 2.98
Dividends payable 0.52 0.43 0.43 0.43
Income taxes payable 0.28 0.08 0.15 0.12
Current operating lease liability 0.15 0.14 0.14 0.00
Current finance lease liability 0.16 0.09 0.08 0.05
Derivative instruments 0.08 0.05 0.02 0.07
Holdback liability 0.00 0.03 0.05 0.09
Other 0.02 0.02 0.02 0.07
Other current liabilities 1.21% 0.84% 0.90% 0.83%
Current liabilities 12.82% 15.46% 13.07% 11.66%
Long-term obligations, excluding current portion 22.88 22.38 25.90 29.03
Deferred tax liabilities 11.83 12.04 12.18 12.11
Long-term pension and postretirement liability 0.08 0.08 0.06 0.06
Insurance reserves 0.15 0.14 0.13 0.12
Non-current operating lease liability 1.20 1.17 0.86 0.00
Non-current finance lease liability 1.23 0.60 0.54 0.62
Derivative instruments 0.28 0.04 0.01 0.03
Deferred compensation liability 0.08 0.08 0.08 0.09
Other 0.09 0.14 0.19 0.22
Other non-current liabilities 3.12% 2.25% 1.88% 1.14%
Non-current liabilities 37.83% 36.67% 39.96% 42.28%
Total liabilities 50.65% 52.13% 53.03% 53.94%
Preferred stock, $0.01 par value, no shares issued 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.03 0.03 0.03 0.03
Additional paid-in capital 43.06 43.55 43.53 43.89
Retained earnings 6.32 4.14 3.19 2.41
Accumulated other comprehensive income (loss) -0.05 0.15 0.21 -0.27
Stockholders’ equity 49.35% 47.87% 46.97% 46.06%
Non-controlling interest 0.00 0.00 0.00 0.00
Total equity 49.35% 47.87% 46.97% 46.06%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Accounts Payable
There is a steady increase in accounts payable as a percentage of total liabilities and equity from 4.7% in 2018 to 8.53% in 2021, indicating a growing reliance on suppliers' credit or delayed payments over time.
Customer Rebates & Incentives
This item shows a gradual upward trend from 0.7% in 2018 to 0.88% in 2021, suggesting an increase in incentives offered to customers relative to the company's capital structure.
Accrued Compensation
Accrued compensation remained relatively stable, fluctuating slightly between 0.37% and 0.45%, reflecting consistent employee-related liabilities.
Insurance Reserve and Interest Accrual
Both insurance reserve (0.08% to 0.07%) and interest accrual (declining from 0.16% to 0.11%) show slight decreases or stability, indicating consistent management of these liabilities.
Accrued Professional Fees
This liability significantly decreased from 0.23% in 2018 to a low of 0.04% in 2020 and stabilized thereafter, suggesting reduced outstanding professional expenses.
Other Accrued Expenses and Accrued Expenses
Other accrued expenses increased from 0.47% to approximately 0.65%, while total accrued expenses showed minor fluctuations but an overall slight increase from 2.07% to 2.19%. This indicates a modest increase in short-term operational liabilities.
Structured Payables
A noticeable decline in structured payables from 1.08% in 2018 to 0.28% in 2021 suggests the company is reducing this specific liability component.
Short-Term Borrowings and Current Portion of Long-Term Obligations
There was an increase from 2.98% to 4.71% between 2018 and 2020, followed by a sharp drop to 0.6% in 2021, indicating significant repayment or refinancing activities impacting short-term debt levels.
Dividends Payable
This item remained largely constant around 0.43%, with a slight increase to 0.52% in 2021, reflecting relatively steady shareholder payout obligations.
Income Taxes Payable
Income taxes payable showed variability with a low of 0.08% in 2020 and a rise to 0.28% in 2021, indicating shifting tax liabilities during this period.
Current Operating and Finance Lease Liabilities
Current operating lease liability data started in 2019 and showed minor increases from 0.14% to 0.15%. Current finance lease liability increased from 0.05% in 2018 to 0.16% in 2021, reflecting growing lease obligations.
Derivative Instruments (Current and Non-Current)
Current derivative instruments declined initially but rose to 0.08% in 2021; non-current derivatives increased substantially from 0.03% to 0.28%, indicating heightened derivative activity or exposure.
Holdback Liability and Other Current Liabilities
Holdback liability decreased and was absent in 2021, while other current liabilities increased notably from 0.83% to 1.21%, showing a rise in miscellaneous short-term obligations.
Total Current Liabilities
The percentage of current liabilities to total liabilities and equity increased from 11.66% in 2018 to a peak of 15.46% in 2020 before declining to 12.82% in 2021, reflecting shifts in the current portion of obligations.
Long-Term Obligations (Excluding Current Portion)
Long-term debt decreased from 29.03% in 2018 to 22.38% in 2020, with a slight increase to 22.88% in 2021, indicating a reduction in long-term borrowing over the period with some recent uptick.
Deferred Tax Liabilities, Pension and Postretirement, and Insurance Reserves
Deferred tax liabilities remained stable around 12%. Pension liabilities held steady at around 0.06-0.08%, and insurance reserves showed a minor upward trend from 0.12% to 0.15%.
Non-Current Operating and Finance Lease Liabilities
Non-current operating lease liability increased from 0.86% to 1.2%, and finance lease liability nearly doubled from 0.62% to 1.23%, indicative of increased long-term lease commitments.
Other Non-Current Liabilities
These liabilities rose from 1.14% to 3.12%, implying an accumulation of various long-term obligations not separately categorized elsewhere.
Total Non-Current Liabilities
The share of non-current liabilities declined from 42.28% in 2018 to 36.67% in 2020 but then increased slightly to 37.83% in 2021, reflecting changes in the structure of longer-term obligations.
Total Liabilities
Total liabilities as a percentage of total liabilities and equity decreased steadily from 53.94% in 2018 to 50.65% in 2021, indicating a modest reduction in overall leverage.
Shareholders’ Equity and Its Components
Common stock remained stable at 0.03%. Additional paid-in capital slightly decreased from 43.89% to 43.06%. Retained earnings showed a strong upward trend from 2.41% in 2018 to 6.32% in 2021, reflecting accumulated profitability or earnings retention. Accumulated other comprehensive income (loss) fluctuated between negative and positive values, ending slightly negative at -0.05% in 2021.
Total Stockholders’ Equity
The proportion of equity increased gradually from 46.06% in 2018 to 49.35% in 2021, indicating strengthening equity base relative to liabilities.

AI Ask an analyst for more