Stock Analysis on Net
Stock Analysis on Net

Marriott International Inc. (NASDAQ:MAR)

This company has been moved to the archive! The financial data has not been updated since May 11, 2020.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Marriott International Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Current portion of long-term debt 3.90 3.52 1.66 1.28 4.93
Accounts payable 2.87 3.24 3.26 2.85 9.75
Accrued payroll and benefits 5.35 5.68 5.12 4.86 14.16
Liability for guest loyalty program 9.01 10.67 8.62 7.73 15.65
Accrued expenses and other 5.52 4.06 6.43 4.60 8.66
Current liabilities 26.65% 27.16% 25.10% 21.32% 53.16%
Long-term debt, excluding current portion 39.77 35.93 32.74 33.96 62.59
Liability for guest loyalty program 13.81 12.37 12.01 11.08 26.67
Deferred tax liabilities 1.16 2.05 2.52 4.23 0.26
Deferred revenue 3.35 3.08 0.00 0.00 0.00
Noncurrent operating lease liabilities 3.52 0.00 0.00 0.00 0.00
Other noncurrent liabilities 8.93 10.01 12.06 7.22 16.34
Noncurrent liabilities 70.54% 63.45% 59.32% 56.49% 105.87%
Total liabilities 97.19% 90.61% 84.42% 77.81% 159.03%
Class A Common Stock 0.02 0.02 0.02 0.02 0.08
Additional paid-in-capital 23.15 24.54 24.09 24.06 46.38
Retained earnings 38.50 37.91 30.86 26.93 80.20
Treasury stock, at cost -57.42 -51.42 -39.33 -26.76 -182.47
Accumulated other comprehensive loss -1.44 -1.65 -0.07 -2.06 -3.22
Shareholders’ equity (deficit) 2.81% 9.39% 15.58% 22.19% -59.03%
Liabilities and shareholders’ equity (deficit) 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).

Current portion of long-term debt
The proportion of current portion of long-term debt relative to total liabilities and shareholders’ equity decreased sharply from 4.93% in 2015 to a low point of 1.28% in 2016, then slightly increased over subsequent years to reach 3.9% by 2019.
Accounts payable
Accounts payable declined significantly from 9.75% in 2015 to 2.85% in 2016 and remained relatively stable around 3% through 2019, indicating a reduction in payables relative to the company's total liabilities and equity base.
Accrued payroll and benefits
Accrued payroll and benefits followed a similar downward trend from 14.16% in 2015 down to approximately 4.86% in 2016, with a slight increase thereafter, stabilizing around 5.35% to 5.68% from 2017 through 2019.
Liability for guest loyalty program (current and noncurrent)
This liability showed a notable decrease from 15.65% (current) and 26.67% (noncurrent) in 2015 to lower levels in 2016. Afterward, it gradually increased year-over-year, reaching 9.01% (current) and 13.81% (noncurrent) by 2019, suggesting a growing obligation associated with customer loyalty programs as part of the company’s liabilities.
Accrued expenses and other
Accrued expenses and other current liabilities fell sharply from 8.66% in 2015 to 4.6% in 2016, then exhibited some variability but generally remained below initial levels, ending at 5.52% in 2019.
Current liabilities
Current liabilities as a percentage of total liabilities and equity dropped dramatically from 53.16% in 2015 to 21.32% in 2016, then gradually rose to around 26-27% in the ensuing years. This trend indicates a significant restructuring or reduction in short-term obligations in 2016 followed by stabilization.
Long-term debt, excluding current portion
Long-term debt decreased markedly from 62.59% in 2015 to approximately 33-36% from 2016 to 2018, before increasing to 39.77% in 2019. This pattern implies substantial debt repayment or refinancing activities occurred between 2015 and 2016, with a gradual rise in leverage towards 2019.
Deferred tax liabilities
Deferred tax liabilities increased from a low 0.26% in 2015 to 4.23% in 2016 but then steadily declined thereafter, finishing at 1.16% in 2019, reflecting fluctuations in deferred tax obligations relative to total financing structure.
Deferred revenue
Reported only for the last two periods, deferred revenue represented 3.08% in 2018 and slightly increased to 3.35% in 2019, indicating the emergence of deferred income components in recent years.
Noncurrent operating lease liabilities
Appearing only in 2018 and 2019, these liabilities constituted 3.52% in 2019, signifying a new recognition or growing importance of lease obligations in the company's noncurrent liabilities.
Other noncurrent liabilities
These liabilities halved from 16.34% in 2015 to 7.22% in 2016, then increased again to 12.06% in 2017 before following a moderate decline to 8.93% by 2019, showing some volatility within other long-term obligations.
Noncurrent liabilities
Total noncurrent liabilities dropped from 105.87% in 2015 to 56.49% in 2016, indicating a major reduction, possibly through repayment or reclassification, and then steadily increased over the subsequent years to 70.54% in 2019.
Total liabilities
Total liabilities experienced a substantial decrease from 159.03% in 2015 to 77.81% in 2016, and then rose annually up to 97.19% in 2019, suggesting debt restructuring or significant balance sheet adjustments occurred in 2016, followed by an increasing reliance on liabilities.
Class A Common Stock
This component remained marginal and stable around 0.02% throughout the period from 2016 onwards, indicating minimal change in common stock proportion relative to the company's financing.
Additional paid-in-capital
Additional paid-in capital decreased markedly from 46.38% in 2015 to near 24% from 2016 forward, with minor fluctuations, reflecting changes in equity financing or stock issuance impacts.
Retained earnings
Retained earnings declined significantly from 80.20% in 2015 to 26.93% in 2016 but then gradually increased over the following years, reaching 38.5% by 2019, which suggests recovery in profitability or accumulated earnings during that period.
Treasury stock, at cost
Treasury stock (a contra equity account) improved substantially from a highly negative -182.47% in 2015 to less negative levels around -26.76% in 2016, then increased in negative value again progressively, ending at -57.42% in 2019. This trend may indicate significant share repurchase activities prior to 2016 and continuing buybacks afterward.
Accumulated other comprehensive loss
Accumulated other comprehensive loss decreased from -3.22% in 2015 to nearly zero (-0.07%) in 2017, followed by a slight increase in loss again but remained less than -2% in later years, indicating relatively modest fluctuations in other comprehensive income components.
Shareholders’ equity (deficit)
Notably, shareholders’ equity was negative at -59.03% in 2015, turning positive at 22.19% in 2016, and gradually declining each year thereafter to 2.81% in 2019. This suggests a significant recapitalization or balance sheet improvement around 2016, followed by a steady erosion or higher liabilities relative to equity.