Name: Paramount Global (NASDAQ:PARA) | 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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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).

The balance sheet exhibits a significant restructuring of capital composition between 2018 and 2022, characterized by a sharp initial increase in total liabilities followed by a consistent strengthening of the equity position.

Liability Composition and Trends: Total liabilities experienced a substantial increase from 19.06 billion USD in 2018 to a peak of 36.41 billion USD in 2020, before stabilizing and slightly declining to 34.79 billion USD by 2022. A divergent trend is observed between current and noncurrent obligations. Current liabilities have risen steadily from 4.57 billion USD in 2018 to 11.19 billion USD in 2022. This increase is primarily driven by growth in accounts payable, which rose from 201 million USD to 1.40 billion USD, and accrued programming and production costs, which increased from 704 million USD to 2.06 billion USD over the same period.
Long-Term Debt Profile: Noncurrent liabilities peaked in 2020 at 28.11 billion USD and decreased to 23.60 billion USD by 2022. The primary driver of this volatility was long-term debt, which surged from 9.47 billion USD in 2018 to 19.72 billion USD in 2020. Following this peak, a deleveraging trend is evident, with long-term debt reducing to 15.61 billion USD by the end of 2022.
Equity and Retained Earnings: Total equity demonstrated robust growth, increasing from 2.80 billion USD in 2018 to 23.61 billion USD in 2022. A critical reversal occurred in retained earnings, which shifted from an accumulated deficit of 17.20 billion USD in 2018 to a positive balance of 8.49 billion USD in 2019, continuing an upward trajectory to reach 14.74 billion USD by 2022. This suggests a significant improvement in cumulative profitability or a major accounting restructuring during the 2019 fiscal year.
Solvency and Capital Structure: The relationship between liabilities and equity shifted markedly over the five-year period. In 2018, the company operated with high leverage, with liabilities nearly seven times the value of total equity. By 2022, the capital structure became more balanced, with total liabilities representing approximately 1.47 times the total equity, indicating a strengthened solvency position and a reduced reliance on external debt relative to shareholder funding.

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