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.

Western Digital Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Dec 29, 2023	Sep 29, 2023	Jun 30, 2023	Mar 31, 2023	Dec 30, 2022	Sep 30, 2022	Jul 1, 2022	Apr 1, 2022	Dec 31, 2021	Oct 1, 2021	Jul 2, 2021	Apr 2, 2021	Jan 1, 2021	Oct 2, 2020	Jul 3, 2020	Apr 3, 2020	Jan 3, 2020	Oct 4, 2019	Jun 28, 2019	Mar 29, 2019	Dec 28, 2018	Sep 28, 2018	Jun 29, 2018	Mar 30, 2018	Dec 29, 2017	Sep 29, 2017
Accounts payable	1,504)	1,294)	1,293)	1,307)	1,193)	1,686)	1,902)	1,836)	2,022)	1,896)	1,934)	1,807)	1,939)	1,949)	1,945)	1,786)	1,736)	1,724)	1,567)	1,577)	1,925)	2,081)	2,265)	2,134)	1,921)	2,066)
Accounts payable to related parties	251)	277)	292)	265)	368)	295)	320)	396)	389)	378)	398)	397)	393)	404)	407)	397)	364)	507)	331)	312)	310)	286)	259)	282)	250)	226)
Accrued expenses	1,037)	1,347)	1,288)	1,158)	1,410)	1,592)	1,636)	1,605)	1,700)	1,617)	1,653)	1,552)	1,420)	1,293)	1,296)	1,569)	1,559)	1,374)	1,296)	1,645)	1,526)	1,305)	1,274)	1,210)	1,385)	1,451)
Income taxes payable	506)	675)	999)	1,013)	1,025)	986)	869)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Accrued compensation	353)	349)	349)	343)	348)	407)	510)	485)	567)	567)	634)	494)	523)	497)	472)	433)	537)	432)	347)	402)	345)	500)	479)	509)	523)	468)
Current portion of long-term debt	1,042)	1,850)	1,213)	1,175)	38)	—)	—)	75)	251)	251)	251)	251)	251)	286)	286)	286)	286)	251)	276)	276)	244)	213)	179)	124)	274)	258)
Current liabilities	4,693)	5,792)	5,434)	5,261)	4,382)	4,966)	5,237)	4,397)	4,929)	4,709)	4,870)	4,501)	4,526)	4,429)	4,406)	4,471)	4,482)	4,288)	3,817)	4,212)	4,350)	4,385)	4,456)	4,259)	4,353)	4,469)
Long-term debt, less current portion	7,351)	5,822)	5,857)	5,898)	7,033)	7,071)	7,022)	7,087)	7,057)	8,270)	8,474)	8,678)	8,882)	9,086)	9,289)	9,343)	9,547)	9,961)	10,246)	10,309)	10,370)	10,930)	10,993)	11,076)	11,777)	12,873)
Other liabilities	1,397)	1,398)	1,415)	1,505)	1,517)	1,542)	1,779)	2,231)	2,021)	2,051)	2,067)	2,281)	2,315)	2,311)	2,416)	2,452)	2,452)	2,465)	2,340)	2,178)	2,307)	2,015)	2,255)	2,369)	2,438)	1,104)
Non-current liabilities	8,748)	7,220)	7,272)	7,403)	8,550)	8,613)	8,801)	9,318)	9,078)	10,321)	10,541)	10,959)	11,197)	11,397)	11,705)	11,795)	11,999)	12,426)	12,586)	12,487)	12,677)	12,945)	13,248)	13,445)	14,215)	13,977)
Total liabilities	13,441)	13,012)	12,706)	12,664)	12,932)	13,579)	14,038)	13,715)	14,007)	15,030)	15,411)	15,460)	15,723)	15,826)	16,111)	16,266)	16,481)	16,714)	16,403)	16,699)	17,027)	17,330)	17,704)	17,704)	18,568)	18,446)
Convertible preferred stock, $0.01 par value	876)	876)	876)	876)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.01 par value	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)	3)
Additional paid-in capital	3,957)	3,970)	3,936)	3,831)	3,770)	3,641)	3,733)	3,600)	3,519)	3,401)	3,608)	3,603)	3,546)	3,537)	3,717)	3,743)	3,731)	3,728)	3,851)	3,891)	4,062)	4,085)	4,254)	4,277)	4,410)	4,396)
Accumulated other comprehensive income (loss)	(493)	(599)	(516)	(362)	(369)	(694)	(554)	(357)	(217)	(167)	(197)	(210)	(50)	(101)	(157)	(183)	(110)	(90)	(68)	(55)	(35)	(76)	(39)	46)	(46)	(59)
Retained earnings	6,601)	6,739)	7,424)	8,139)	8,711)	9,157)	9,039)	8,738)	8,713)	8,149)	7,539)	6,917)	6,720)	6,658)	6,725)	6,578)	6,717)	7,012)	7,449)	7,799)	8,532)	9,172)	8,757)	8,155)	8,250)	9,229)
Treasury stock, common shares at cost	—)	—)	—)	—)	—)	—)	—)	—)	—)	(25)	(232)	(364)	(390)	(521)	(737)	(898)	(962)	(1,087)	(1,268)	(1,424)	(1,650)	(1,809)	(1,444)	(1,181)	(1,345)	(1,510)
Shareholders’ equity	10,944)	10,989)	11,723)	12,487)	12,115)	12,107)	12,221)	11,984)	12,018)	11,361)	10,721)	9,949)	9,829)	9,576)	9,551)	9,243)	9,379)	9,566)	9,967)	10,214)	10,912)	11,375)	11,531)	11,300)	11,272)	12,059)
Total liabilities, convertible preferred stock and shareholders’ equity	24,385)	24,001)	24,429)	25,151)	25,047)	25,686)	26,259)	25,699)	26,025)	26,391)	26,132)	25,409)	25,552)	25,402)	25,662)	25,509)	25,860)	26,280)	26,370)	26,913)	27,939)	28,705)	29,235)	29,004)	29,840)	30,505)

Liabilities Trends: The total liabilities show a gradual decline from approximately $18.4 billion in September 2017 to about $13.4 billion by December 2023. This trend indicates a consistent reduction in liabilities over the analyzed period. Current liabilities fluctuated around $4.4 billion to $5.7 billion, peaking intermittently but generally remaining below $5 billion until the later periods where occasional spikes appear, such as in September 2022 reaching $5.2 billion and again in December 2023 with about $4.7 billion. Long-term liabilities similarly declined from a high of $13.9 billion in late 2017 to about $8.7 billion by December 2023, reflecting decreasing long-term debt or other obligations.
Debt Composition: The current portion of long-term debt exhibited volatility, with values ranging from around $124 million in early 2018 to peaks exceeding $1.8 billion in July 2023. Such a pattern indicates possible refinancing or restructuring activities. The long-term debt less current portion contracted notably from $12.9 billion in September 2017 down to about $7.3 billion in the last quarter, further confirming debt reduction efforts.
Accounts Payable and Related Items: Accounts payable showed moderate fluctuations between roughly $1.2 billion and $2.0 billion, with no clear continuous rising or falling trend. Accounts payable to related parties generally increased from approximately $226 million in late 2017 to peaks above $500 million around October 2019, followed by declines and a relatively stable level near $250 million in late 2023.
Accrued Expenses and Compensation: Accrued expenses trended mostly within the range of $1.1 billion to $1.7 billion, with some volatility peaking near $1.7 billion in late 2021 and dipping below $1.2 billion around mid-2023. Accrued compensation also fluctuated but remained mostly between $300 million and $650 million, peaking in late 2021. These variances suggest periodic changes in accrued costs and incentive-related liabilities.
Income Taxes Payable: Data on income taxes payable became available only from late 2022 onwards, showing a decreasing trend from $869 million in March 2023 down to $506 million by December 2023, indicating possibly lower tax obligations or improved payments in this period.
Shareholders’ Equity: Shareholders’ equity displayed an increasing trend from about $12.1 billion in September 2017 to a peak near $12.5 billion in early 2023 before settling around $10.9 billion by December 2023. The fluctuation within this band suggests some equity repurchases and earnings retention variations but overall a stable capital base.
Retained Earnings and Treasury Stock: Retained earnings gradually declined from $9.2 billion in September 2017 to about $6.6 billion in December 2023, reflecting either consistent dividend payments, share repurchases, or net losses over some periods. Treasury stock values indicate a decreasing cost basis from $-1.5 billion to nearly zero by late 2021, with no data reported thereafter, suggesting significant changes in treasury stock accounting or buyback activities.
Additional Paid-in Capital and Comprehensive Income (Loss): Additional paid-in capital showed an overall slight decline from around $4.4 billion in late 2017 to approximately $4.0 billion by the end of 2023, indicating moderate changes in capital contributions or stock transactions. Accumulated other comprehensive income (loss) reflects a persistent negative balance deepening over time from near zero in late 2017 to approximately negative $0.5 billion by 2023, suggesting ongoing unrealized losses or other comprehensive items impacting equity.
Other Liabilities: Other liabilities fluctuated significantly, peaking above $2.4 billion around 2017-2020 before gradually declining to about $1.4 billion in late 2023. The reduction points to decreasing miscellaneous obligations or settlements of contingent liabilities.
Overall Observations: The financial data reveals a managed reduction in total liabilities, particularly long-term debt, over the six-year span. Shareholders’ equity remained relatively stable with minor fluctuations, while retained earnings decreased, possibly due to distributions or operational results. The company also appears to have altered its debt structure with notable variations in short-term debt portions. The negative trend in accumulated other comprehensive income suggests ongoing unfavorable market or foreign currency impacts. Overall, the trends point to a balance between debt reduction, equity maintenance, and management of liabilities.

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Western Digital Corp. (NASDAQ:WDC)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data