Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

PayPal Holdings Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	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	142)	126)	114)	156)	140)	197)	186)	260)	191)	252)	159)	252)	217)	232)	193)	199)	226)	281)	247)	201)	187)
Short-term debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	2,499)	1,999)	1,998)	2,000)	2,000)	3,000)
Funds payable and amounts due to customers	39,026)	40,107)	37,824)	40,221)	39,746)	38,841)	37,804)	38,370)	38,323)	35,418)	32,530)	31,031)	24,817)	24,527)	24,011)	25,073)	24,238)	21,562)	22,451)	20,688)	20,662)
Current portion of long-term debt	418)	418)	418)	418)	999)	999)	998)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Accrued expenses and other current liabilities	3,746)	3,637)	4,220)	3,704)	2,829)	2,756)	2,556)	2,489)	2,731)	2,648)	2,457)	2,119)	2,276)	2,087)	2,038)	2,022)	2,097)	2,002)	1,866)	1,836)	1,767)
Income taxes payable	577)	813)	652)	596)	253)	236)	151)	149)	95)	129)	100)	327)	139)	73)	98)	54)	75)	61)	76)	84)	98)
Current liabilities	43,909)	45,101)	43,228)	45,095)	43,967)	43,029)	41,695)	41,268)	41,340)	38,447)	35,246)	33,729)	27,449)	26,919)	26,340)	29,847)	28,635)	25,904)	26,640)	24,809)	25,714)
Deferred tax liability and other long-term liabilities	2,938)	2,925)	2,702)	2,750)	3,013)	2,998)	2,800)	2,698)	2,794)	2,930)	2,872)	2,819)	2,839)	2,520)	2,436)	2,405)	2,488)	2,042)	1,969)	1,849)	1,967)
Long-term debt, excluding current portion	10,481)	10,417)	10,241)	10,198)	8,222)	8,049)	7,949)	8,945)	8,942)	8,939)	8,937)	8,934)	7,967)	4,965)	4,964)	—)	—)	—)	—)	—)	—)
Non-current liabilities	13,419)	13,342)	12,943)	12,948)	11,235)	11,047)	10,749)	11,643)	11,736)	11,869)	11,809)	11,753)	10,806)	7,485)	7,400)	2,405)	2,488)	2,042)	1,969)	1,849)	1,967)
Total liabilities	57,328)	58,443)	56,171)	58,043)	55,202)	54,076)	52,444)	52,911)	53,076)	50,316)	47,055)	45,482)	38,255)	34,404)	33,740)	32,252)	31,123)	27,946)	28,609)	26,658)	27,681)
Common stock, $0.0001 par value	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Preferred stock, $0.0001 par value; unissued	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Treasury stock at cost	(17,522)	(16,079)	(15,069)	(14,130)	(13,380)	(11,880)	(10,380)	(10,030)	(9,830)	(8,507)	(8,242)	(7,892)	(7,672)	(6,872)	(6,566)	(6,216)	(6,216)	(5,511)	(4,911)	(4,311)	(3,811)
Additional paid-in-capital	18,529)	18,327)	17,981)	17,758)	17,383)	17,208)	16,860)	16,580)	16,161)	16,644)	16,248)	15,914)	15,501)	15,588)	15,266)	15,010)	14,848)	14,939)	14,664)	14,434)	14,287)
Retained earnings	19,749)	18,954)	18,033)	16,703)	17,044)	16,535)	15,734)	14,647)	13,463)	12,366)	10,809)	9,788)	8,258)	8,342)	7,835)	7,373)	6,550)	5,880)	5,296)	4,860)	4,334)
Accumulated other comprehensive income (loss)	(898)	(928)	(681)	(564)	(444)	(136)	(124)	(292)	(353)	(484)	(332)	(170)	(120)	(173)	(52)	(28)	(25)	78)	66)	36)	(169)
Total PayPal stockholders’ equity	19,858)	20,274)	20,264)	19,767)	20,603)	21,727)	22,090)	20,905)	19,441)	20,019)	18,483)	17,640)	15,967)	16,885)	16,483)	16,139)	15,157)	15,386)	15,115)	15,019)	14,641)
Noncontrolling interest	—)	—)	—)	—)	—)	—)	—)	—)	—)	44)	44)	44)	44)	44)	—)	—)	—)	—)	—)	—)	—)
Total equity	19,858)	20,274)	20,264)	19,767)	20,603)	21,727)	22,090)	20,905)	19,441)	20,063)	18,527)	17,684)	16,011)	16,929)	16,483)	16,139)	15,157)	15,386)	15,115)	15,019)	14,641)
Total liabilities and equity	77,186)	78,717)	76,435)	77,810)	75,805)	75,803)	74,534)	73,816)	72,517)	70,379)	65,582)	63,166)	54,266)	51,333)	50,223)	48,391)	46,280)	43,332)	43,724)	41,677)	42,322)

Liabilities

Overall liabilities show a steady upward trend from March 2018 through March 2023, increasing from approximately $27.7 billion to $57.3 billion. Current liabilities fluctuate but generally increase, reaching a peak in June 2022 at about $45.1 billion before slightly declining.

Accounts payable display volatility with no clear trend, ranging between approximately $114 million and $260 million. Short-term debt data is limited to 2018 and early 2019, showing a decrease from $3 billion to $2 billion and then remaining stable.

Funds payable and amounts due to customers significantly increase from around $20.7 billion in March 2018 to $39 billion by March 2023, highlighting consistent growth in customer-related liabilities. Accrued expenses and other current liabilities exhibit an upward movement, rising from $1.8 billion to nearly $3.7 billion over the same period, with a noticeable surge from 2021 onwards.

Income taxes payable are highly variable, with low values in early years and sharp spikes from 2020, reaching a peak of $813 million in March 2023, indicating increased tax obligations or possibly changes in tax strategy or earnings.

Long-term debt, excluding the current portion, appears from late 2018, initially around $4.9 billion, then jumps to approximately $8 billion in 2020 and peaks over $10 billion by late 2022 and early 2023, indicating increased reliance on long-term borrowing.

Non-current liabilities shift dramatically starting 2019, increasing from about $2 billion to over $13 billion by year-end 2022, reflecting the increase in long-term debt and other obligations.

Equity

Stockholders’ equity rises steadily from approximately $14.6 billion in March 2018 to a peak of about $22.1 billion in late 2021, then declines slightly to around $19.9 billion by March 2023. This suggests overall growth but some recent pressure or repurchases affecting equity levels.

Treasury stock at cost consistently increases in absolute value, moving from about -$3.8 billion to -$17.5 billion, indicating ongoing stock buybacks and capital return to shareholders at a significant scale over the period.

Additional paid-in capital also grows steadily from roughly $14.3 billion to $18.5 billion, reflecting continued capitalization activities beyond par value issuance.

Retained earnings show consistent accumulation without significant retrenchment, rising from $4.3 billion to nearly $19.7 billion, signifying profitable operations and reinvested earnings.

Accumulated other comprehensive income (loss) fluctuates negatively, moving further into loss territory from -$169 million to nearly -$900 million, evidencing unrealized losses, possibly from foreign exchange or other comprehensive income components.

Liquidity and Capital Structure Observations

The proportional growth in funds payable and accrued expenses suggests increasing operational scale and greater customer-related liabilities. The significant increase in both current and long-term portions of debt points to expanded leverage, potentially to support growth initiatives or capital expenditures.

Equity growth together with rising retained earnings reflects earnings retention and capital raising, but the sizeable increase in treasury stock reduces net equity, indicating active share repurchase programs that might impact available capital.

Overall Financial Position

Total liabilities plus equity increase from approximately $42.3 billion in early 2018 to about $77.2 billion by March 2023, suggesting expansion of the company's asset base and operations. The mix of rising liabilities, especially long-term debt, alongside strong retained earnings growth and capital inflows, signifies a balanced approach to growth financing.

The variability in current liabilities, accrued expenses, taxes payable, and other comprehensive loss components highlights areas requiring continuous monitoring to manage cash flows, tax exposures, and comprehensive income impacts effectively.

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PayPal Holdings Inc. (NASDAQ:PYPL)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data