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Microchip Technology Inc. (NASDAQ:MCHP)

This company has been moved to the archive! The financial data has not been updated since February 2, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Microchip Technology Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016
Accounts payable 2.20 2.35 1.88 2.13 1.88 1.87 1.75 1.77 1.57 1.29 1.24 1.42 1.19 1.32 1.35 1.23 1.30 1.45 1.65 1.75 2.00 2.27 2.18 1.94 1.89 1.86 1.87
Accrued liabilities 7.80 7.19 7.28 6.51 5.72 5.05 4.94 4.82 4.64 4.54 4.57 4.49 4.13 4.48 4.56 4.29 2.25 2.58 2.55 2.78 3.18 2.75 3.10 2.76 3.11 3.17 3.02
Deferred income on shipments to distributors 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.04 4.13 4.03 3.91 3.81 4.12 3.15 2.90
Current portion of long-term debt 0.00 6.19 0.00 0.00 0.00 0.00 0.00 8.03 9.01 5.94 9.37 3.49 7.96 7.77 7.53 7.42 0.00 7.15 6.91 15.86 0.00 0.07 0.14 0.65 0.00 0.00 0.00
Current liabilities 10.00% 15.73% 9.16% 8.64% 7.59% 6.92% 6.69% 14.62% 15.22% 11.78% 15.19% 9.40% 13.28% 13.57% 13.43% 12.94% 3.55% 11.19% 11.11% 24.43% 9.32% 9.11% 9.34% 9.16% 9.12% 8.18% 7.79%
Long-term debt excluding current maturities 40.88 39.06 46.67 47.45 49.03 50.57 52.39 46.01 46.14 48.78 45.40 50.92 46.51 47.12 47.74 48.75 58.07 51.17 52.05 21.30 37.42 37.39 37.83 37.73 43.73 43.90 45.34
Long-term income tax payable 4.10 4.13 4.36 4.35 4.20 4.08 4.22 4.19 4.04 3.96 4.00 3.84 4.04 4.01 4.11 4.12 3.97 4.16 4.35 9.14 8.55 2.41 2.37 2.41 3.73 4.14 3.95
Long-term deferred tax liability 0.25 0.26 0.25 0.25 0.26 0.27 0.26 0.27 0.06 0.49 0.66 1.83 2.20 3.24 3.78 3.85 4.57 4.37 4.44 2.49 2.57 4.07 4.40 5.32 5.41 5.89 6.37
Other long-term liabilities 5.61 3.01 2.68 2.93 2.75 2.98 2.52 2.53 2.59 2.53 2.45 1.97 2.04 2.04 1.95 1.52 1.42 1.42 1.43 2.92 2.94 2.99 2.80 2.83 2.08 2.28 2.14
Long-term liabilities 50.84% 46.46% 53.95% 54.98% 56.24% 57.91% 59.40% 52.99% 52.83% 55.76% 52.51% 58.55% 54.78% 56.41% 57.59% 58.25% 68.03% 61.12% 62.27% 35.85% 51.48% 46.86% 47.40% 48.29% 54.95% 56.20% 57.79%
Total liabilities 60.84% 62.19% 63.12% 63.61% 63.84% 64.83% 66.09% 67.61% 68.04% 67.54% 67.69% 67.95% 68.07% 69.98% 71.02% 71.19% 71.57% 72.30% 73.38% 60.28% 60.79% 55.98% 56.74% 57.45% 64.07% 64.39% 65.58%
Preferred stock, $0.001 par value; no shares issued or outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.001 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 14.77 14.59 14.76 15.65 15.58 15.24 14.93 14.58 14.39 14.83 14.93 15.35 15.57 15.30 14.82 14.60 14.64 14.21 13.70 31.03 31.47 32.15 32.75 33.01 26.65 26.93 25.84
Common stock held in treasury -8.74 -7.42 -6.02 -4.92 -3.44 -2.45 -2.56 -2.63 -2.72 -2.78 -2.85 -2.87 -2.96 -3.05 -3.12 -3.17 -3.31 -3.35 -3.36 -8.02 -8.43 -8.67 -9.12 -9.52 -10.52 -10.83 -10.79
Accumulated other comprehensive loss -0.11 -0.07 -0.10 -0.13 -0.15 -0.15 -0.16 -0.16 -0.13 -0.12 -0.12 -0.12 -0.13 -0.12 -0.12 -0.11 -0.09 -0.09 -0.08 -0.21 -0.27 -0.22 -0.24 -0.19 -0.15 -0.22 -0.20
Retained earnings 33.23 30.70 28.23 25.77 24.17 22.53 21.71 20.59 20.42 20.53 20.35 19.70 19.45 17.90 17.40 17.50 17.20 16.93 16.36 16.92 16.44 20.75 19.87 19.25 19.95 19.73 19.56
Stockholders’ equity 39.16% 37.81% 36.88% 36.39% 36.16% 35.17% 33.91% 32.39% 31.96% 32.46% 32.31% 32.05% 31.93% 30.02% 28.98% 28.81% 28.43% 27.70% 26.62% 39.72% 39.21% 44.02% 43.26% 42.55% 35.93% 35.61% 34.42%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-K (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-K (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-K (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30).

The overall capital structure exhibits a shift toward a lower reliance on total liabilities relative to total assets over the observed period. Total liabilities decreased from 65.58% in June 2016 to 60.84% by December 2022, reaching a peak of 73.38% in June 2018. This trend indicates a gradual deleveraging process and an increase in the proportion of equity financing.

Debt and Liability Trends
Long-term debt excluding current maturities represents the most significant portion of the balance sheet. This item showed volatility, peaking at 58.07% in December 2018 before declining to 40.88% by December 2022. Current liabilities remained relatively stable, generally fluctuating between 7% and 15%, although a temporary spike to 24.43% occurred in March 2018, primarily driven by a surge in the current portion of long-term debt to 15.86%.
Equity Composition and Growth
Stockholders' equity increased from 34.42% in June 2016 to 39.16% in December 2022. This growth is primarily attributed to a significant and consistent rise in retained earnings, which grew from 19.56% to 33.23% over the period. Conversely, additional paid-in capital saw a sharp decline from approximately 31% in late 2017 to a range of 14-15% from 2018 onward, suggesting a reconfiguration of equity accounts or capital return activities.
Treasury Stock and Share Buybacks
Common stock held in treasury showed an undulating pattern. After decreasing from -10.79% in June 2016 to a low of -2.45% in September 2021, the percentage increased again to -8.74% by December 2022, indicating a renewed acceleration in share repurchases toward the end of the analyzed period.
Deferred Tax and Other Liabilities
A notable downward trend is observed in long-term deferred tax liabilities, which fell from 6.37% in June 2016 to 0.25% in December 2022. Accrued liabilities, however, demonstrated a steady increase, rising from 3.02% in June 2016 to 7.80% in December 2022, indicating a higher proportion of the balance sheet dedicated to short-term operational obligations.

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