Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Accounts payable
- There is a noticeable increasing trend from 0.25% in 2020 to 2.82% in 2023, indicating a growing proportion of accounts payable relative to total liabilities and equity.
- Provisions related to product sales
- Data is only available for 2023, showing a significant percentage of 3.02%, which could imply newly recognized or accumulated product-related liabilities in that year.
- Compensation-related liabilities
- The percentage decreased from 1.73% in 2019 to 0.51% in 2021, followed by an increase to 1.33% in 2023, suggesting fluctuations in accrued compensation costs or related obligations.
- Clinical trials
- After a rise from 0.4% in 2019 to a peak of 1.33% in 2020, there is a gradual decline to 0.95% in 2023, indicating reduced relative liabilities associated with clinical trials over time.
- Manufacturing
- The manufacturing liabilities increased consistently from 0.37% in 2019 to 1.55% in 2022 before declining to 0.91% in 2023, reflecting possible expansion followed by a reduction in associated obligations.
- Development operations
- Percentages rose from 0.16% in 2019 to 0.56% in 2021 but decreased in 2022, then increased again to 0.76% in 2023, showing a somewhat variable trend in development-related liabilities.
- Other external goods and services
- This category dropped sharply from 1.35% in 2019 to 0.32% in 2021, rose again to 1.02% in 2022, then declined to 0.74% in 2023, indicating volatility in external service-related liabilities.
- Royalties
- Starting data from 2021 shows a decline from 0.98% to 0.66% in 2023, reflecting a decreasing proportion of royalty liabilities.
- Property, plant and equipment
- Values appear only beginning 2022 with a small increase from 0.02% to 0.51% in 2023, indicating a rise in liabilities or commitments related to fixed assets.
- Loss on future firm purchase commitments
- Recorded only from 2022 at 1.04%, decreasing to 0.43% in 2023, suggesting a reduction in estimated losses from future commitments.
- Commercial
- Shows fluctuations between 0.25% and 0.48% from 2019 to 2021, followed by lower values in 2022 and slight rebound in 2023, indicating relatively stable commercial liabilities with minor variation.
- Raw materials
- After appearing in 2020 at 1.06%, the figure remains around 1.05-1.22% through 2022, sharply dropping to 0.15% in 2023, signifying a large decrease in raw material-related liabilities.
- Accrued liabilities
- A steady increase from 4.26% in 2019 to a peak of 9.76% in 2023 demonstrates growing accrued obligations over the years.
- Deferred revenue (current)
- There is a dramatic rise in 2020 to 52.71%, followed by a decline each year to 3.08% in 2023, indicating a strong initial buildup of deferred revenue that reduced substantially over time.
- Income taxes payable
- Values initiate at 3.55% in 2021 and then fall to under 0.5% by 2023, suggesting a reduction in income tax liabilities.
- Financing and operating lease liabilities (current and non-current)
- Current financing lease liabilities showed small fluctuations without a clear trend. Operating leases decreased both in current and non-current categories from 2019 to 2022 but non-current operating leases surged in 2023 to 3.49%, possibly indicating lease restructuring or new lease agreements.
- Other current and non-current liabilities
- Current other liabilities rose modestly from 0.32% to 0.96% by 2022 before dropping to 0.36% in 2023. Non-current other liabilities increased steadily, reaching 1.39% in 2023, showing an upward trend in less defined or miscellaneous liabilities over time.
- Current liabilities (total)
- These peaked sharply at 59.82% in 2020, then consistently decreased to 16.36% in 2023, indicating a significant reduction in short-term obligations relative to total financing and equity.
- Deferred revenue, non-current
- Decreased notably from 8.75% in 2019 to 0.45% in 2023, showing diminishing long-term deferred revenue obligations.
- Total non-current liabilities
- Experienced a decline from 17.08% in 2019 to around 5-7% in the subsequent years, rising to 8.45% by 2023, indicating some growth in longer-term liabilities after an initial reduction.
- Total liabilities
- A notable spike in 2020 to 65.09% was followed by a continuous decline to 24.81% in 2023, showing a normalization or reduction in liabilities as a share of total financing over time.
- Additional paid-in capital
- Demonstrated a strong decline from 167.95% in 2019 to 2.01% in 2023, signifying a substantial contraction in capital contributions relative to total liabilities and equity.
- Accumulated other comprehensive income (loss)
- Fluctuated from a slight positive in 2019 to a negative value of -1.43% in 2022, with a slight recovery to -0.67% in 2023, indicating losses or unfavorable adjustments in accumulated comprehensive income over the period.
- Retained earnings (accumulated deficit)
- Shifted from a large deficit of -94.15% in 2019 to positive areas starting 2021, increasing to 73.84% by 2023, signaling a strong recovery in earnings retention and improved profitability or accumulated results.
- Stockholders’ equity (total)
- Experienced a reduction from 73.91% in 2019 to 34.91% in 2020, then steadily increased to 75.19% in 2023, indicating rebuilding or strengthening of the equity base over time.
- Total liabilities and stockholders’ equity
- This remained constant at 100% by definition, serving as the basis for all percentage comparisons.