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Stock Analysis on Net

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
Quarterly Data

Paramount Global, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Accounts payable 2.18 2.40 1.65 1.50 1.68 1.36 1.48 1.09 1.12 1.08 0.85 0.82 1.37 1.35 1.26 0.90 1.13 0.92 1.09 0.68 1.12
Accrued expenses 3.11 3.55 3.62 3.70 3.38 3.96 3.36 3.31 3.04 3.25 3.43 3.03 2.86 3.55 1.53 1.38 2.06 1.58 1.54 1.74 0.96
Participants’ share and royalties payable 4.28 4.14 4.57 4.33 3.74 3.68 3.75 3.94 3.78 3.81 4.08 4.08 4.25 3.99 4.91 4.98 4.81 5.38 5.27 5.25 5.36
Accrued programming and production costs 4.29 3.53 3.21 2.82 2.91 2.29 2.50 2.12 2.54 2.17 2.19 2.32 3.04 3.03 2.59 2.48 3.34 3.22 1.93 1.81 3.06
Deferred revenues 1.93 1.67 1.39 1.55 1.82 1.86 1.92 2.00 1.84 1.86 1.38 1.36 1.41 1.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current debt 0.42 0.41 0.34 0.06 0.03 0.02 0.03 0.03 0.03 0.03 0.04 0.71 1.08 1.45 0.25 0.05 0.05 3.14 1.84 1.89 1.15
Other current liabilities 2.90 2.53 2.32 2.16 2.37 2.02 2.04 2.23 2.76 2.64 3.13 3.27 3.37 3.41 6.31 6.34 7.27 6.67 7.29 7.19 8.11
Current liabilities of discontinued operations 0.85 0.94 0.93 0.79 0.83 0.97 0.87 0.84 0.77 0.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current liabilities 19.97% 19.16% 18.03% 16.92% 16.75% 16.17% 15.94% 15.55% 15.89% 15.75% 15.10% 15.60% 17.39% 18.27% 16.84% 16.12% 18.66% 20.92% 18.95% 18.56% 19.76%
Long-term debt, net of current portion 27.60 26.73 27.30 27.69 28.94 30.19 31.65 32.07 32.44 37.44 38.31 38.49 36.71 36.35 38.24 39.27 38.87 43.30 44.93 46.43 45.99
Participants’ share and royalties payable 2.94 2.99 2.51 2.48 2.26 2.12 2.20 2.40 2.47 2.50 2.71 2.90 3.17 3.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Pension and postretirement benefit obligations 2.57 2.50 3.22 3.30 3.30 3.32 3.52 3.67 3.78 3.98 3.98 4.04 4.27 4.28 5.53 5.73 5.72 6.35 5.82 6.32 6.36
Deferred income tax liabilities, net 1.18 1.84 1.81 1.83 1.84 1.81 1.73 1.61 1.56 1.48 1.59 1.38 1.30 1.01 2.26 2.24 2.23 1.83 2.67 2.23 2.39
Noncurrent operating lease liabilities 2.47 2.45 2.56 2.66 2.72 2.73 2.73 2.67 2.77 3.01 3.44 3.55 3.75 3.86 3.87 3.60 3.60 0.00 0.00 0.00 0.00
Program rights obligations 0.58 0.63 0.65 0.75 0.74 0.69 0.52 0.34 0.39 0.46 0.52 0.49 0.64 0.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other liabilities 2.83 2.94 3.01 2.95 3.02 3.24 3.48 3.55 3.76 4.10 4.33 4.58 4.64 5.04 12.62 13.09 12.86 14.78 15.70 15.83 15.87
Liabilities of discontinued operations 0.35 0.34 0.35 0.36 0.36 0.36 0.37 0.38 0.39 0.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncurrent liabilities 40.53% 40.41% 41.42% 42.02% 43.17% 44.46% 46.19% 46.69% 47.54% 53.38% 54.88% 55.44% 54.49% 54.38% 62.52% 63.94% 63.28% 66.25% 69.11% 70.81% 70.61%
Total liabilities 60.50% 59.57% 59.44% 58.94% 59.92% 60.63% 62.13% 62.24% 63.43% 69.14% 69.97% 71.04% 71.88% 72.65% 79.36% 80.06% 81.94% 87.17% 88.07% 89.37% 90.37%
Redeemable noncontrolling interest 0.00 0.00 0.16 0.19 0.18 0.18 0.18 0.34 0.35 0.37 0.38 0.54 0.55 0.51 0.00 0.00 0.00 0.00 0.00 0.00 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 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
Class A Common Stock, par value $.001 per share 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
Class B Common Stock, par value $.001 per share 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 58.50 56.62 57.66 57.91 56.76 56.15 58.92 59.60 60.00 56.56 57.79 57.98 60.42 59.75 177.77 182.65 181.03 199.63 207.27 214.47 212.44
Treasury stock, at cost -40.59 -39.32 -40.08 -40.30 -39.55 -39.16 -41.06 -41.59 -41.91 -43.59 -44.64 -44.85 -46.81 -46.26 -93.39 -95.90 -94.94 -104.57 -108.03 -111.15 -109.07
Retained earnings (accumulated deficit) 23.80 25.24 25.99 26.03 25.15 24.47 22.28 21.75 20.35 19.70 18.87 17.88 18.00 17.15 -59.99 -62.94 -64.14 -78.69 -84.31 -89.53 -90.57
Accumulated other comprehensive loss -3.08 -3.09 -4.05 -3.65 -3.31 -3.24 -3.37 -3.36 -3.44 -3.48 -3.71 -3.91 -4.19 -3.98 -3.75 -3.87 -3.88 -3.55 -3.01 -3.17 -3.17
Total Paramount stockholders’ equity 38.63% 39.45% 39.53% 39.99% 39.05% 38.22% 36.77% 36.41% 35.00% 29.19% 28.31% 27.10% 27.42% 26.67% 20.64% 19.94% 18.06% 12.83% 11.93% 10.63% 9.63%
Noncontrolling interests 0.87 0.98 0.86 0.88 0.85 0.97 0.91 1.01 1.23 1.30 1.34 1.32 0.15 0.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total equity 39.50% 40.43% 40.39% 40.87% 39.90% 39.18% 37.68% 37.42% 36.23% 30.49% 29.65% 28.42% 27.57% 26.84% 20.64% 19.94% 18.06% 12.83% 11.93% 10.63% 9.63%
Total liabilities and 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%

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The capital structure of the organization has undergone a significant transformation between March 2018 and March 2023, characterized by a systemic reduction in leverage and a substantial increase in the proportion of equity financing.

Total Liabilities and Leverage Trends
A consistent downward trend in total liabilities is observed, decreasing from 90.37% of total liabilities and equity in March 2018 to 60.50% by March 2023. This indicates a strategic shift toward a less leveraged balance sheet. The most pronounced decline occurred between September 2019 and December 2019, where total liabilities dropped from 79.36% to 72.65%.
Debt Obligations and Long-Term Financing
Long-term debt, net of current portion, showed a steady contraction from a peak of 46.43% in June 2018 to 27.60% in March 2023. This suggests a concerted effort to reduce long-term borrowing. Current debt remained relatively negligible for much of the period, typically staying below 1%, though a slight increase to 0.42% was noted by March 2023.
Stockholders' Equity and Capital Restructuring
Total equity increased from 9.63% in March 2018 to 39.50% in March 2023. A pivotal transition occurred in December 2019, coinciding with a shift in retained earnings from an accumulated deficit of -59.99% in September 2019 to a positive balance of 17.15% in December 2019. Additionally, additional paid-in capital and treasury stock experienced a sharp adjustment in late 2019, with paid-in capital dropping from approximately 177.77% to 59.75% and treasury stock moving from -93.39% to -46.26%.
Current and Operating Liabilities
Current liabilities remained relatively stable, fluctuating between 15% and 21% of the total balance sheet. Within this category, accounts payable showed an upward trend in the latter part of the period, rising from 1.36% in December 2021 to 2.18% in March 2023. Accrued programming and production costs also trended upward toward the end of the analysis period, reaching 4.29% in March 2023 compared to 3.06% in March 2018.
Noncurrent Operating Obligations
Pension and postretirement benefit obligations decreased steadily from 6.36% in March 2018 to 2.57% in March 2023. Other noncurrent liabilities, which stood at 15.87% in March 2018, contracted significantly to 2.83% by March 2023, reflecting a broader reduction in non-debt long-term obligations.

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