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.

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

US$ in thousands

	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	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
Accounts payable	533,729)	564,379)	539,892)	568,613)	491,249)	444,265)	520,198)	492,858)	438,256)	404,263)	396,229)	362,900)	334,076)	296,800)	281,522)	261,969)	305,529)	274,045)	304,773)	292,627)	267,735)
Accrued liabilities	204,679)	183,988)	207,727)	198,656)	245,932)	172,991)	198,692)	209,154)	234,111)	210,964)	180,719)	172,498)	170,954)	142,653)	168,398)	142,848)	145,224)	114,075)	112,318)	125,086)	127,622)
Accrued promotional allowances	318,895)	269,061)	296,577)	283,647)	308,094)	255,631)	281,650)	277,618)	270,785)	211,461)	232,394)	227,414)	197,380)	186,658)	200,668)	167,011)	171,406)	166,761)	197,239)	199,324)	167,700)
Deferred revenue	43,776)	41,914)	40,127)	42,765)	44,440)	43,311)	42,608)	44,344)	42,540)	42,530)	45,278)	46,656)	45,961)	45,429)	45,538)	44,894)	44,844)	44,237)	43,805)	43,839)	43,591)
Accrued compensation	52,638)	87,392)	76,835)	56,195)	42,673)	72,463)	61,426)	53,717)	37,551)	65,459)	54,507)	46,770)	30,499)	55,015)	45,555)	35,646)	21,827)	47,262)	35,747)	29,445)	18,211)
Income taxes payable	75,111)	14,955)	17,644)	12,704)	55,123)	13,317)	17,143)	15,917)	21,118)	30,399)	23,113)	31,289)	9,991)	23,433)	32,082)	22,497)	12,711)	14,717)	20,334)	15,179)	6,113)
Current liabilities	1,228,828)	1,161,689)	1,178,802)	1,162,580)	1,187,511)	1,001,978)	1,121,717)	1,093,608)	1,044,361)	965,076)	932,240)	887,527)	788,861)	749,988)	773,763)	674,865)	701,541)	661,097)	714,216)	705,500)	630,972)
Deferred revenue	198,759)	204,251)	209,136)	215,039)	219,764)	223,800)	226,294)	232,170)	238,241)	243,249)	245,621)	252,056)	257,730)	264,436)	268,281)	272,926)	278,393)	287,469)	292,101)	298,375)	303,241)
Other liabilities	92,690)	91,838)	53,251)	44,255)	41,727)	42,286)	41,034)	40,056)	38,185)	29,508)	26,550)	26,462)	28,338)	27,432)	26,318)	24,482)	30,617)	30,505)	23,071)	22,871)	22,818)
Noncurrent liabilities	291,449)	296,089)	262,387)	259,294)	261,491)	266,086)	267,328)	272,226)	276,426)	272,757)	272,171)	278,518)	286,068)	291,868)	294,599)	297,408)	309,010)	317,974)	315,172)	321,246)	326,059)
Total liabilities	1,520,277)	1,457,778)	1,441,189)	1,421,874)	1,449,002)	1,268,064)	1,389,045)	1,365,834)	1,320,787)	1,237,833)	1,204,411)	1,166,045)	1,074,929)	1,041,856)	1,068,362)	972,273)	1,010,551)	979,071)	1,029,388)	1,026,746)	957,031)
Common stock, $0.005 par value	5,624)	5,613)	5,592)	5,591)	5,587)	3,209)	3,206)	3,205)	3,203)	3,200)	3,199)	3,198)	3,196)	3,193)	3,192)	3,190)	3,186)	3,182)	3,181)	3,180)	3,174)
Additional paid-in capital	5,034,948)	4,975,115)	4,893,289)	4,869,791)	4,829,301)	4,780,013)	4,736,141)	4,707,569)	4,673,302)	4,652,620)	4,626,299)	4,597,333)	4,562,689)	4,537,982)	4,513,743)	4,474,379)	4,428,580)	4,397,511)	4,370,280)	4,350,177)	4,288,638)
Retained earnings	6,381,785)	5,939,736)	5,572,757)	5,120,063)	4,706,192)	9,001,173)	8,699,499)	8,377,112)	8,103,752)	7,809,549)	7,488,235)	7,151,030)	6,747,268)	6,432,074)	5,960,338)	5,612,684)	5,301,315)	5,022,480)	4,767,526)	4,468,603)	4,176,130)
Accumulated other comprehensive income (loss)	(157,940)	(125,337)	(198,033)	(155,725)	(147,911)	(159,073)	(224,455)	(152,957)	(72,145)	(69,165)	(43,495)	(16,822)	(24,874)	3,034)	(32,529)	(53,438)	(62,682)	(32,387)	(43,083)	(28,756)	(34,125)
Common stock in treasury, at cost	(2,686,628)	(2,566,383)	(2,400,456)	(1,998,256)	(1,997,809)	(6,600,281)	(6,398,631)	(6,125,751)	(5,841,440)	(5,829,253)	(5,829,241)	(5,829,241)	(5,828,842)	(5,815,423)	(5,815,423)	(5,815,275)	(5,799,453)	(5,219,505)	(4,989,926)	(4,735,618)	(4,734,997)
Stockholders’ equity	8,577,789)	8,228,744)	7,873,149)	7,841,464)	7,395,360)	7,025,041)	6,815,760)	6,809,178)	6,866,672)	6,566,951)	6,244,997)	5,905,498)	5,459,437)	5,160,860)	4,629,321)	4,221,540)	3,870,946)	4,171,281)	4,107,978)	4,057,586)	3,698,820)
Total liabilities and stockholders’ equity	10,098,066)	9,686,522)	9,314,338)	9,263,338)	8,844,362)	8,293,105)	8,204,805)	8,175,012)	8,187,459)	7,804,784)	7,449,408)	7,071,543)	6,534,366)	6,202,716)	5,697,683)	5,193,813)	4,881,497)	5,150,352)	5,137,366)	5,084,332)	4,655,851)

Accounts payable: Accounts payable exhibited an overall increasing trend, rising from approximately $268 million in March 2019 to around $534 million by March 2024. There were fluctuations within quarters but the general direction was upward, with notable increases in mid-2022 and late 2023.
Accrued liabilities: Accrued liabilities showed variability throughout the periods, increasing from $128 million in early 2019 to peak levels near $236 million in the first quarter of 2022 before declining somewhat. By March 2024, accrued liabilities had decreased somewhat to roughly $205 million. The pattern suggests episodic growth and partial contraction.
Accrued promotional allowances: Promotional allowances increased steadily with some volatility, starting near $168 million in March 2019 and reaching a high of approximately $319 million in March 2024. This suggests sustained growth in promotional spending or allowances across the timeframe.
Deferred revenue (current): Current deferred revenue remained relatively stable with minor fluctuations, generally remaining within the $40 million range, showing a slight downward trend into 2023, but increasing marginally towards early 2024.
Accrued compensation: Accrued compensation demonstrated a substantial increase over the period, from $18 million in March 2019 to around $53 million by March 2024, with significant quarter-to-quarter variation. The peak levels around late 2023 suggest rising personnel-related obligations.
Income taxes payable: Income taxes payable fluctuated significantly without a clear trend, ranging from $6 million to over $75 million by March 2024. The large increases in certain quarters, notably the first quarter of 2024, indicate variability in tax obligations or payment timing.
Current liabilities: Current liabilities showed an overall growth trajectory, increasing steadily from approximately $631 million in early 2019 to around $1.23 billion in the first quarter of 2024. Although some quarters reflected slight declines, the upward momentum dominated, reflecting growing short-term obligations.
Deferred revenue (non-current): Non-current deferred revenue declined consistently from about $303 million in March 2019 to nearly $199 million by March 2024. This steady reduction suggests a systematic decrease in longer-term deferred income, possibly due to revenue recognition or changes in contract structures.
Other liabilities: Other liabilities varied broadly, increasing modestly from around $23 million in early 2019 to about $93 million by March 2024, with pronounced growth in the last two years, indicating emerging or expanding obligations classified under this category.
Noncurrent liabilities: Noncurrent liabilities decreased slightly from $326 million in March 2019 to roughly $291 million by March 2024, with relatively moderate fluctuations. Despite some intermittent increases, the long-term liability load has been fairly stable or mildly declining over time.
Total liabilities: Total liabilities increased from approximately $957 million in March 2019 to about $1.52 billion by March 2024. The trend shows steady growth, with the most notable expansion occurring after 2021, reflecting accumulation of overall company obligations.
Common stock, $0.005 par value: Common stock value remained essentially stable around $3 million through 2022, followed by a jump to approximately $5.6 million starting from early 2023, possibly due to issuance of additional shares or stock-related transactions.
Additional paid-in capital: Additional paid-in capital displayed a steady increase from about $4.29 billion to over $5.03 billion from March 2019 to March 2024. The gradual upward movement reflects underwriting or equity injections over time.
Retained earnings: Retained earnings consistently increased from $4.18 billion in early 2019 to $9.38 billion by the end of 2022. However, a sharp decline to approximately $4.71 billion occurred by March 2023, followed by recovery back to $6.38 billion by March 2024. This significant drop and subsequent recovery indicate a possible accounting adjustment or special event affecting retained earnings between late 2022 and early 2023.
Accumulated other comprehensive income (loss): Accumulated other comprehensive income/loss deteriorated overall, worsening from a negative $34 million in March 2019 to about negative $158 million by March 2024 with increased volatility. There were severe declines in the periods surrounding 2021 and 2022, highlighting adverse movements in other comprehensive income components.
Common stock in treasury, at cost: Treasury stock costs remained relatively stable near negative $4.7 billion until late 2022, then sharply improved to about negative $2.7 billion by March 2024. This indicates substantial repurchase or cancellation activity altering the treasury stock position significantly in recent years.
Stockholders’ equity: Stockholders’ equity increased steadily from approximately $3.7 billion in early 2019 to about $7.03 billion at the end of 2022, experienced a slight dip in 2023, and then continued rising to roughly $8.58 billion by March 2024. This pattern indicates overall growth in net equity value with moderate fluctuations.
Total liabilities and stockholders’ equity: The combined total of liabilities and stockholders’ equity rose from $4.66 billion in March 2019 to approximately $10.1 billion by March 2024, reflecting expanded balance sheet size more than doubling over five years, indicative of company growth and increased financing.

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Monster Beverage Corp. (NASDAQ:MNST)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data