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: 2025-09-28), 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).
- Current Liabilities
- The current liabilities demonstrated variability throughout the observed years, peaking at approximately 11,951 million USD in the fiscal year ending 2021 and reaching a low of around 8,672 million USD in 2020. After 2021, current liabilities generally trended downward, stabilizing near 9,144 million USD by 2025. Key components such as trade accounts payable showed fluctuations, notably increasing significantly in 2022 followed by a decrease in 2023 and subsequent moderate increases. Payroll and other benefits related liabilities increased steadily over the years, reflecting potentially higher workforce costs or accruals. Unearned revenues declined consistently, indicating less advance customer payments or a change in revenue recognition. Short-term debt saw a pronounced spike in 2021, then a marked decrease the following year, suggesting shifting financing strategies or repayment activities within the short-term period.
- Noncurrent Liabilities
- Long-term debt levels exhibited some volatility but remained substantial, peaking at 14,811 million USD in 2025 after a previous low in 2024. This indicates ongoing leverage related to long-term financing arrangements. Other noncurrent liabilities remained relatively stable with slight decreases over the period, suggesting controlled management of obligations other than debt. Noncurrent liabilities overall demonstrated moderate fluctuation but did not experience extreme changes, maintaining a range roughly between 18,376 and 20,831 million USD.
- Total Liabilities
- Total liabilities peaked in 2021 at approximately 31,290 million USD, then generally declined to just below 29,000 million USD by 2025. This trend points to a modest reduction in overall liabilities post-2021, possibly reflecting debt repayment or shifting balance sheet compositions. The peak in 2021 may correlate closely with elevated short-term debt and other current liabilities during that year.
- Stockholders’ Equity
- Stockholders’ equity showed a strong growth trajectory from 6,077 million USD in 2020 to a peak of 26,274 million USD in 2024, before slightly declining to 21,206 million USD in 2025. Retained earnings were the primary contributor to equity increases, showing substantial accumulation each year, indicating sustained profitability or retained profits rather than distribution. Accumulated other comprehensive income fluctuated but contributed positively overall, suggesting gains from items not recognized in net income such as foreign currency translation or unrealized investment gains.
- Total Liabilities and Stockholders’ Equity
- The aggregate balance grew significantly from about 35,594 million USD in 2020 to a high of 55,154 million USD in 2024. This reflects overall company growth in financed assets and operations. However, a notable decrease occurred in 2025 to approximately 50,143 million USD, which could indicate asset reduction, depreciation, or other balance sheet adjustments. The growth in equity outpacing liabilities in several years points to strengthening financial structure and potentially lower leverage ratios in those periods.
- General Observations
- The data reveals a company managing increasing retained earnings and equity over the period, suggesting profitability and capital retention efforts. Liabilities, especially short-term, showed peaks and declines reflecting financing flexibility or operational adjustments. Unearned revenues' steady decline may indicate changes in revenue recognition policies or customer payment patterns. The presence of held-for-sale liabilities in intermediate years indicates disposals or assets held for divestiture which are not consistently part of ongoing operations. Overall, the financial structure reflects growth coupled with prudent liability management.