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.
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Twenty-First Century Fox Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Analysis of Revenues
- Analysis of Debt
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Twenty-First Century Fox Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-K (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-K (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-K (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-Q (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-K (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-Q (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30).
- Current Borrowings
- Current borrowings show considerable volatility through the periods. Initial values around 273 million USD declined to a low near 137 million USD in mid-2013, followed by a significant spike reaching over 884 million USD at the end of 2013. A gradual decrease ensued until mid-2016, after which substantial fluctuations were observed, culminating in a peak of 1,538 million USD in early 2018 before falling again.
- Accounts Payable, Accrued Expenses, and Other Current Liabilities
- These liabilities demonstrated an overall decreasing trend, dropping from approximately 5,615 million USD in late 2012 to a low around 3,236 million USD by late 2018. Periodic minor rises were observed but the general pattern was downward, suggesting improved management or reduction of short-term obligations over the interval.
- Participations, Residuals, and Royalties Payable
- This category remained relatively stable, fluctuating modestly around 1,600 to 1,900 million USD with no clear long-term upward or downward trend. This stability indicates consistent payment obligations related to participations and royalties.
- Program Rights Payable
- Program rights payable showed variability, with values bouncing between roughly 1,000 and 1,900 million USD. After reaching a high in early 2014, the amounts generally decreased towards late 2018. The fluctuations may reflect changes in programming acquisitions or licensing agreements over time.
- Deferred Revenue
- Deferred revenue declined substantially from around 1,003 million USD at the start to a low near 448 million USD mid-2015, with minor rebounds afterward. It showed a gradual increase after 2016, rising back toward approximately 855 million USD by the end of 2018, reflecting changes in revenue recognition and sales cycles.
- Current Liabilities
- There was a marked decrease in total current liabilities from over 10,000 million USD in late 2012 to a trough near 6,749 million USD in late 2016. Although some volatility occurred, the overall decline suggests enhanced short-term financial positioning or reduction in immediate obligations.
- Non-current Borrowings
- Non-current borrowings consistently remained high, fluctuating in a range between approximately 16,000 and 19,800 million USD. A gradual upward trend was observed until 2016, followed by slight declines toward late 2018, implying stable long-term debt management with minor adjustments during the period.
- Other Liabilities
- This category remained relatively stable, fluctuating roughly between 3,000 and 3,900 million USD. No strong trend was apparent, indicating steady levels of miscellaneous liabilities.
- Deferred Income Taxes
- Deferred income taxes displayed fluctuations, with an increase from about 2,329 million USD in late 2012 to peaks over 2,700 million USD mid-2013 and again around 2,888 million USD in 2016. Later, a sharp decrease to near 1,622 million USD occurred in late 2017, with a moderate recovery toward 1,971 million by the end of 2018, suggesting adjustments in tax-related liabilities.
- Non-current Liabilities
- Non-current liabilities showed a general increasing trend from approximately 22,206 million USD in 2012 to around 26,325 million USD in 2016. Subsequently, a gradual decline was visible moving into late 2018, reflecting shifts in long-term obligations or debt structuring.
- Total Liabilities
- Total liabilities peaked at nearly 34,813 million USD in early 2017, following a rising trend from 32,251 million USD in 2012. After this peak, liabilities decreased and stabilized near 32,000 million USD by late 2018, showing some moderation after previous increases.
- Redeemable Noncontrolling Interests
- The values remained relatively consistent around 500-700 million USD throughout, with moderate fluctuations but no apparent long-term trend, indicating steady minority interest obligations.
- Common Stock and Additional Paid-in Capital
- Class A common stock slightly decreased from 15 million USD to 11 million USD, and Class B common stock remained steady at 8 million USD. Additional paid-in capital trended downward from over 16,000 million USD in 2012 to around 12,500 million USD by late 2018, reflecting possible share repurchases or accounting adjustments.
- Retained Earnings
- Retained earnings grew notably from the values reported starting in late 2014, moving from roughly 2,389 million USD, increasing steadily to over 21,292 million USD by late 2018. This growth points to accumulated profits being retained within the business over the period.
- Accumulated Other Comprehensive Loss
- The accumulated other comprehensive loss deepened over time, moving from a minor loss near -34 million USD to about -2,354 million USD before showing some recovery toward -1,879 million USD by late 2018, indicating unfavorable adjustments, likely from foreign currency translation or market fluctuations impacting equity.
- Total Stockholders’ Equity
- Total equity generally increased from 26,264 million USD in 2012 to a peak near 32,005 million USD by the end of the period. Despite fluctuations, this suggests overall strengthening of the equity base.
- Noncontrolling Interests
- Noncontrolling interests increased significantly during early periods, reaching over 3,500 million USD by 2014, followed by a sharp decline to below 1,000 million USD in late 2014. Subsequently, it stabilized around 1,200 million USD toward 2018, reflecting changes in minority ownership stakes.
- Total Liabilities and Equity
- The sum of liabilities and equity increased from 59,676 million USD to 65,886 million USD over the analyzed periods. Some sharp declines were observed mid-cycle, especially in 2014-2015, with recovery thereafter. The overall growth indicates expansion of the balance sheet size over time.