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.

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

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Accounts payable	1,403)	800)	571)	667)	201)
Accrued expenses	2,071)	2,323)	1,714)	1,760)	868)
Participants’ share and royalties payable	2,416)	2,159)	2,005)	1,977)	1,177)
Accrued programming and production costs	2,063)	1,342)	1,141)	1,500)	704)
Deferred revenues	973)	1,091)	978)	739)	222)
Current debt	239)	11)	16)	717)	687)
Other current liabilities	1,477)	1,182)	1,391)	1,688)	714)
Current liabilities of discontinued operations	549)	571)	480)	—)	—)
Current liabilities	11,191)	9,479)	8,296)	9,048)	4,573)
Long-term debt, net of current portion	15,607)	17,698)	19,717)	18,002)	9,465)
Participants’ share and royalties payable	1,744)	1,244)	1,317)	1,546)	1,159)
Pension and postretirement benefit obligations	1,458)	1,946)	2,098)	2,121)	1,388)
Deferred income tax liabilities, net	1,077)	1,063)	778)	500)	399)
Noncurrent operating lease liabilities	1,428)	1,598)	1,583)	1,909)	—)
Program rights obligations	367)	404)	243)	356)	—)
Other liabilities	1,715)	1,898)	2,158)	2,494)	2,071)
Liabilities of discontinued operations	200)	213)	220)	—)	—)
Noncurrent liabilities	23,596)	26,064)	28,114)	26,928)	14,482)
Total liabilities	34,787)	35,543)	36,410)	35,976)	19,055)
Redeemable noncontrolling interest	—)	107)	197)	254)	—)
5.75% Series A Mandatory Convertible Preferred Stock, par value $.001 per share	—)	—)	—)	—)	—)
Class A Common Stock, par value $.001 per share	—)	—)	—)	—)	—)
Class B Common Stock, par value $.001 per share	1)	1)	1)	1)	1)
Additional paid-in capital	33,063)	32,918)	29,785)	29,590)	43,637)
Treasury stock, at cost	(22,958)	(22,958)	(22,958)	(22,908)	(22,858)
Retained earnings (accumulated deficit)	14,737)	14,343)	10,375)	8,494)	(17,201)
Accumulated other comprehensive loss	(1,807)	(1,902)	(1,832)	(1,970)	(775)
Total Paramount stockholders’ equity	23,036)	22,402)	15,371)	13,207)	2,804)
Noncontrolling interests	570)	568)	685)	82)	—)
Total equity	23,606)	22,970)	16,056)	13,289)	2,804)
Total liabilities and equity	58,393)	58,620)	52,663)	49,519)	21,859)

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).

Current Liabilities: Current liabilities experienced fluctuations over the reported years. There was a sharp increase from US$4,573 million in 2018 to US$9,048 million in 2019, followed by a decline to US$8,296 million in 2020. The figure then rose again, reaching US$11,191 million by the end of 2022. Notably, accounts payable dramatically increased, more than doubling from 2018 to 2022, reaching US$1,403 million, while accrued expenses also showed an overall upward trend with some variability. Participants’ share and royalties payable consistently increased, suggesting growing obligations in this area. Deferred revenues displayed growth until 2021 before a slight decline in 2022.
Debt Obligations: Current debt saw a significant drop from US$687 million in 2018 to very low levels in 2020 and 2021, followed by an increase to US$239 million in 2022. Long-term debt peaked in 2020 at US$19,717 million but subsequently declined each year, falling to US$15,607 million in 2022. This indicates management's efforts towards debt reduction after a period of increased borrowing.
Noncurrent Liabilities: Noncurrent liabilities rose sharply from 2018 to 2019, nearly doubling, and continued to increase slightly into 2020. However, 2021 and 2022 saw a decline to US$23,596 million. Pension and postretirement benefit obligations steadily decreased from 2019 onwards, potentially reflecting changes in benefit plans or actuarial assumptions. Deferred income tax liabilities grew steadily over the period, suggesting increasing deferred tax obligations. Operating lease liabilities and program rights obligations fluctuated somewhat but showed a general declining trend after peaking in earlier years.
Total Liabilities: Total liabilities dramatically increased from 2018 to 2019, remained relatively stable through 2020 and 2021, and showed a slight decrease by 2022. The peak in 2019 indicates a period of increased financial obligations, which were managed downward in subsequent years.
Equity and Stockholders’ Position: Stockholders’ equity expanded significantly from US$2,804 million in 2018 to US$23,036 million by the end of 2022. The growth was fueled primarily by increased retained earnings, which improved from a negative balance in 2018 to positive and growing figures thereafter, reaching US$14,737 million in 2022. Additional paid-in capital decreased sharply from 2018 to 2019 but gradually increased through 2022. Treasury stock remained relatively constant, maintaining a large negative balance. Accumulated other comprehensive loss showed fluctuations but stayed within a narrow range of losses. Noncontrolling interests became more significant over time, increasing to US$570 million by 2022.
Total Liabilities and Equity: The combined total of liabilities and equity steadily increased from US$21,859 million in 2018 to a peak of US$58,620 million in 2021, followed by a slight decline to US$58,393 million in 2022, reflecting the overall expansion of the company’s balance sheet.

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Paramount Global (NASDAQ:PARA)

Balance Sheet: Liabilities and Stockholders’ Equity