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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Qualcomm Inc., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
Based on: 10-K (reporting date: 2024-09-29), 10-K (reporting date: 2023-09-24), 10-K (reporting date: 2022-09-25), 10-K (reporting date: 2021-09-26), 10-K (reporting date: 2020-09-27), 10-K (reporting date: 2019-09-29).
The analysis of the financial data reveals several notable trends and shifts in the company's liability and equity structure over the six-year period ending in 2024.
- Current Liabilities
- The current liabilities exhibit fluctuation with a peak in 2021 at 11,951 million US dollars, followed by a decrease in 2023 to 9,628 million US dollars, and a slight rebound in 2024 to 10,504 million US dollars. Key components such as trade accounts payable increased significantly from 1,368 million in 2019 to a peak of 3,796 million in 2022 before dropping to 1,912 million in 2023 and rising again to 2,584 million in 2024. Payroll and other benefits related liabilities show a continuous growth trend, rising steadily each year from 1,048 million to 1,834 million. Unearned revenues as part of current liabilities show a declining trend from 565 million in 2019 to 297 million in 2024, signaling reduced advance payments or deferred income. Short-term debt experiences variability: a dramatic decrease from 2,496 million in 2019 to 500 million in 2020, then increasing to a high of 2,044 million in 2021, followed by decreases and subsequent slight recovery in 2024.
- Noncurrent Liabilities
- Noncurrent liabilities have generally remained stable, fluctuating around the range of 18,000 to 21,000 million US dollars throughout the period. Long-term debt shows some variation, peaking in 2020 at 15,226 million before a general decline to 13,270 million in 2024. Other liabilities and held for sale liabilities (when applicable) have relatively minor fluctuations without a clear directional trend.
- Total Liabilities
- Total liabilities peaked in 2021 at 31,290 million US dollars, followed by a slight decline to 28,880 million in 2024. The data indicates a focus on managing total debt levels with fluctuations primarily driven by current liabilities' movements.
- Stockholders’ Equity
- Stockholders' equity presents a strong upward trajectory from 4,909 million in 2019 to 26,274 million in 2024, indicating significant growth in retained earnings and comprehensive income. Retained earnings have increased nearly sixfold, from 4,466 million to 25,687 million, underscoring sustained profitability and earnings retention. Accumulated other comprehensive income, although fluctuating, turns positive after 2021, reaching 587 million in 2024.
- Total Liabilities and Stockholders’ Equity
- The sum of liabilities and equity has grown consistently from 32,957 million in 2019 to 55,154 million in 2024, reflecting an overall expansion in the company's capital base.
In summary, the company has demonstrated a pattern of increasing long-term value as evidenced by the rising stockholders' equity and retained earnings, despite some variability in liabilities, especially current liabilities. The management of debt and other obligations has shown periodic adjustments, likely reflecting tactical financial management in response to operational and market conditions. The overall financial structure suggests an emphasis on strengthening equity while carefully managing liabilities.