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.

Super Micro Computer Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Accounts payable	1,472,381)	776,831)	655,403)	612,336)	417,673)	360,470)
Accrued liabilities	259,674)	163,865)	212,419)	178,850)	155,401)	114,678)
Income taxes payable	18,268)	129,166)	41,743)	12,741)	4,700)	13,021)
Lines of credit and current portion of term loans	402,346)	170,123)	449,146)	63,490)	23,704)	23,647)
Deferred revenue	193,052)	134,667)	111,313)	101,479)	106,157)	94,153)
Current liabilities	2,345,721)	1,374,652)	1,470,024)	968,896)	707,635)	605,969)
Deferred revenue, non-current	223,324)	169,781)	122,548)	100,838)	97,612)	109,266)
Term loans, non-current	74,083)	120,179)	147,618)	34,700)	5,697)	—)
Convertible notes	1,697,716)	—)	—)	—)	—)	—)
Other long-term liabilities	67,878)	37,947)	39,140)	41,132)	41,995)	26,183)
Non-current liabilities	2,063,001)	327,907)	309,306)	176,670)	145,304)	135,449)
Total liabilities	4,408,722)	1,702,559)	1,779,330)	1,145,566)	852,939)	741,418)
Common stock and additional paid-in capital, $0.001 par value	2,830,820)	538,352)	481,741)	438,012)	389,972)	349,683)
Treasury stock, at cost	—)	—)	—)	—)	(20,491)	(20,491)
Accumulated other comprehensive income (loss)	706)	639)	911)	453)	(152)	(80)
Retained earnings	2,585,680)	1,433,014)	942,923)	657,760)	696,211)	611,903)
Total Super Micro Computer, Inc. stockholders’ equity	5,417,206)	1,972,005)	1,425,575)	1,096,225)	1,065,540)	941,015)
Noncontrolling interest	164)	165)	172)	173)	167)	161)
Total stockholders’ equity	5,417,370)	1,972,170)	1,425,747)	1,096,398)	1,065,707)	941,176)
Total liabilities and stockholders’ equity	9,826,092)	3,674,729)	3,205,077)	2,241,964)	1,918,646)	1,682,594)

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

The financial data demonstrates significant growth in both liabilities and stockholders’ equity over the analyzed periods, with notable fluctuations in several key accounts.

Current Liabilities: There is a marked upward trend in current liabilities, rising from approximately $606 million in 2019 to $2.35 billion in 2024. Accounts payable more than quadrupled, increasing sharply especially between 2023 and 2024, reaching $1.47 billion. Accrued liabilities also generally increased though with some variability, peaking in 2024 at around $260 million after a dip in 2023. Income taxes payable presented a volatile pattern, notably surging in 2023 to $129 million before dropping to $18 million in 2024. Lines of credit and current portions of term loans exhibited a significant expansion, with a steep rise from $23.6 million in 2019 to $402 million in 2024, highlighting increased short-term debt obligations.
Non-current Liabilities: Non-current liabilities grew moderately from $135 million in 2019 to $2.06 billion in 2024. Deferred revenue, non-current, consistently increased each year, reflecting advance payments for future revenue, and reached $223 million in 2024. Term loans, non-current, surged between 2020 and 2022, peaking at $148 million, then declined to $74 million in 2024. The appearance of convertible notes valued at $1.7 billion in 2024 is a salient change, significantly inflating the non-current liabilities and overall liabilities totals. Other long-term liabilities increased steadily but remained comparatively small in magnitude.
Total Liabilities: Total liabilities almost sextupled from about $741 million in 2019 to $4.41 billion in 2024, with the convertible notes in 2024 constituting the most substantial component of this rise. The growth is primarily driven by increasing current liabilities, rising term loans, and the introduction of convertible notes.
Stockholders’ Equity: Total stockholders’ equity showed a robust increase, nearly quintupling from $941 million in 2019 to $5.42 billion in 2024. Common stock and additional paid-in capital rose steadily until 2023, but then dramatically increased in 2024 to $2.83 billion, suggesting significant equity financing or issuance. Retained earnings also displayed consistent growth, more than quadrupling by 2024 to approximately $2.59 billion, indicating profitable operations and earnings retention. Accumulated other comprehensive income (loss) remained relatively minor and stable in comparison. Treasury stock data was only reported for 2019 and 2020, showing a cost of around $20 million, with no subsequent values recorded.
Total Liabilities and Stockholders’ Equity: The combined total of liabilities and stockholders’ equity rose steeply from $1.68 billion in 2019 to $9.83 billion in 2024, reflecting substantial organizational growth and increased financial scale. This increase is supported by both expanding liabilities, especially long-term convertible notes, and a significant rise in equity components.

In summary, the company has experienced considerable expansion in financial size, as indicated by substantial increases in both liabilities and stockholders’ equity. The introduction of large convertible notes in 2024 stands out as a major financial event, fundamentally altering the liability composition. Equity growth coupled with rising retained earnings suggests improved profitability and capital raising activities. Current liabilities have grown significantly, particularly accounts payable and short-term debt, which may warrant attention regarding liquidity and working capital management.

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Super Micro Computer Inc. (NASDAQ:SMCI)

Balance Sheet: Liabilities and Stockholders’ Equity