Name: NXP Semiconductors N.V. (NASDAQ:NXPI) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

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.

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NXP Semiconductors N.V., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Accounts payable	1,252)	991)	944)	999)	1,146)
Restructuring liabilities, current	25)	60)	32)	60)	74)
Accrued compensation and benefits	476)	286)	—)	—)	—)
Income taxes payable	82)	140)	—)	—)	—)
Dividend payable	149)	105)	—)	—)	—)
Other	468)	435)	815)	1,219)	747)
Other current liabilities	1,175)	966)	815)	1,219)	747)
Short-term debt	—)	—)	—)	1,107)	751)
Current liabilities	2,452)	2,017)	1,791)	3,385)	2,718)
Long-term debt	10,572)	7,609)	7,365)	6,247)	5,814)
Restructuring liabilities	12)	14)	—)	5)	15)
Deferred tax liabilities	57)	85)	282)	450)	701)
Other non-current liabilities	1,001)	971)	923)	753)	1,085)
Non-current liabilities	11,642)	8,679)	8,570)	7,455)	7,615)
Total liabilities	14,094)	10,696)	10,361)	10,840)	10,333)
Preferred stock, par value €0.20 per share; none issued	—)	—)	—)	—)	—)
Common stock, par value €0.20 per share	56)	59)	64)	67)	71)
Capital in excess of par value	13,727)	14,133)	15,184)	15,460)	15,960)
Treasury shares, at cost	(1,932)	(1,037)	(3,037)	(3,238)	(342)
Accumulated other comprehensive income	48)	117)	75)	123)	177)
Accumulated deficit	(5,371)	(4,328)	(2,845)	(1,907)	(2,339)
Stockholders’ equity	6,528)	8,944)	9,441)	10,505)	13,527)
Non-controlling interests	242)	207)	214)	185)	189)
Total equity	6,770)	9,151)	9,655)	10,690)	13,716)
Total liabilities and equity	20,864)	19,847)	20,016)	21,530)	24,049)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 20-F (reporting date: 2018-12-31), 20-F (reporting date: 2017-12-31).

The financial position from 2017 to 2021 is characterized by a significant increase in long-term leverage and a simultaneous contraction of stockholders' equity, indicating a shift in the company's capital structure.

Debt and Liability Trends: Total liabilities grew from US$ 10,333 million in 2017 to US$ 14,094 million in 2021. This growth is primarily driven by a consistent rise in long-term debt, which increased from US$ 5,814 million to US$ 10,572 million over the five-year period. Current liabilities exhibited more volatility, peaking in 2018 at US$ 3,385 million before settling at US$ 2,452 million by the end of 2021.
Equity Erosion and Retained Earnings: A persistent downward trend is observed in total equity, which declined from US$ 13,716 million in 2017 to US$ 6,770 million in 2021. A primary contributor to this decline is the widening accumulated deficit, which expanded from US$ 2,339 million in 2017 to US$ 5,371 million in 2021. Additionally, capital in excess of par value decreased steadily from US$ 15,960 million to US$ 13,727 million.
Treasury Share Activity: The treasury shares account shows significant fluctuation, suggesting active share buyback programs. Treasury shares at cost rose sharply from US$ 342 million in 2017 to a peak of US$ 3,238 million in 2018, later adjusting to US$ 1,932 million by 2021. These repurchases have exerted downward pressure on the total stockholders' equity.
Current and Non-Current Liability Components: Deferred tax liabilities experienced a consistent and substantial decrease, falling from US$ 701 million in 2017 to US$ 57 million in 2021. Within current liabilities, accrued compensation and benefits emerged as a significant item in the latter part of the period, reaching US$ 476 million in 2021. Accounts payable remained relatively stable, ending the period at US$ 1,252 million, a slight increase from the US$ 1,146 million reported in 2017.

The aggregate movement in the balance sheet demonstrates a transition toward a more leveraged financial profile, as the proportion of debt relative to equity has increased substantially between 2017 and 2021.

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