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Paramount Global (NASDAQ:PARA)

This company has been moved to the archive! The financial data has not been updated since May 4, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Paramount Global, common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Accounts payable 2.40 1.36 1.08 1.35 0.92
Accrued expenses 3.55 3.96 3.25 3.55 3.97
Participants’ share and royalties payable 4.14 3.68 3.81 3.99 5.38
Accrued programming and production costs 3.53 2.29 2.17 3.03 3.22
Deferred revenues 1.67 1.86 1.86 1.49 1.02
Current debt 0.41 0.02 0.03 1.45 3.14
Other current liabilities 2.53 2.02 2.64 3.41 3.27
Current liabilities of discontinued operations 0.94 0.97 0.91 0.00 0.00
Current liabilities 19.16% 16.17% 15.75% 18.27% 20.92%
Long-term debt, net of current portion 26.73 30.19 37.44 36.35 43.30
Participants’ share and royalties payable 2.99 2.12 2.50 3.12 5.30
Pension and postretirement benefit obligations 2.50 3.32 3.98 4.28 6.35
Deferred income tax liabilities, net 1.84 1.81 1.48 1.01 1.83
Noncurrent operating lease liabilities 2.45 2.73 3.01 3.86 0.00
Program rights obligations 0.63 0.69 0.46 0.72 0.00
Other liabilities 2.94 3.24 4.10 5.04 9.47
Liabilities of discontinued operations 0.34 0.36 0.42 0.00 0.00
Noncurrent liabilities 40.41% 44.46% 53.38% 54.38% 66.25%
Total liabilities 59.57% 60.63% 69.14% 72.65% 87.17%
Redeemable noncontrolling interest 0.00 0.18 0.37 0.51 0.00
5.75% Series A Mandatory Convertible Preferred Stock, par value $.001 per share 0.00 0.00 0.00 0.00 0.00
Class A Common Stock, par value $.001 per share 0.00 0.00 0.00 0.00 0.00
Class B Common Stock, par value $.001 per share 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 56.62 56.15 56.56 59.75 199.63
Treasury stock, at cost -39.32 -39.16 -43.59 -46.26 -104.57
Retained earnings (accumulated deficit) 25.24 24.47 19.70 17.15 -78.69
Accumulated other comprehensive loss -3.09 -3.24 -3.48 -3.98 -3.55
Total Paramount stockholders’ equity 39.45% 38.22% 29.19% 26.67% 12.83%
Noncontrolling interests 0.98 0.97 1.30 0.17 0.00
Total equity 40.43% 39.18% 30.49% 26.84% 12.83%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2018-12-31).

A significant structural shift in the capital composition is evident between 2018 and 2022, characterized by a substantial reduction in total liabilities and a corresponding increase in total equity. Total liabilities declined from 87.17% of total liabilities and equity in 2018 to 59.57% by 2022, indicating a marked reduction in financial leverage over the five-year period.

Long-Term Debt and Noncurrent Obligations
A downward trend is observed in noncurrent liabilities, which fell from 66.25% in 2018 to 40.41% in 2022. The primary driver of this decline was the reduction in long-term debt, net of current portion, which decreased from 43.30% to 26.73%. Additionally, pension and postretirement benefit obligations showed a steady decline from 6.35% in 2018 to 2.50% in 2022, contributing to the overall reduction in long-term financial obligations.
Stockholders' Equity and Retained Earnings
Total equity expanded significantly, rising from 12.83% in 2018 to 40.43% in 2022. A critical component of this growth was the reversal of a substantial accumulated deficit; retained earnings moved from -78.69% in 2018 to a positive 25.24% by 2022. The volatility observed in additional paid-in capital and treasury stock between 2018 and 2019 suggests a major corporate restructuring or accounting adjustment, after which these figures stabilized around 56.62% and -39.32%, respectively, by the end of 2022.
Current Liability Dynamics
Current liabilities exhibited relative stability compared to long-term obligations, fluctuating between a high of 20.92% in 2018 and a low of 15.75% in 2020, before ending at 19.16% in 2022. Accounts payable showed a gradual increase from 0.92% in 2018 to 2.40% in 2022. Accrued programming and production costs also saw an upward trend in the final year, reaching 3.53% from a low of 2.17% in 2020.
Other Liability Trends
Other liabilities showed a consistent downward trajectory, decreasing from 9.47% in 2018 to 2.94% in 2022. Noncurrent operating lease liabilities, which appeared in the records starting in 2019 at 3.86%, trended downward to 2.45% by 2022. Deferred income tax liabilities remained relatively stable, hovering between 1.01% and 1.84% throughout the period.

The overall trajectory indicates a transition toward a more equity-funded balance sheet with reduced reliance on long-term debt and a successful elimination of the historical accumulated deficit, thereby strengthening the long-term solvency profile of the entity.

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