Stock Analysis on Net
Stock Analysis on Net

Yahoo! Inc. (NASDAQ:YHOO)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 9, 2017.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Yahoo! Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012
Accounts payable
Income taxes payable related to sale of Alibaba Group ADSs
Accrued content, connection, traffic acquisition, and other costs
Deferred income taxes
Accrued compensation and related expenses
Income taxes payable
Accrued professional service expenses
Accrued sales and marketing related expenses
Accrued restructuring costs
Current liability for uncertain tax contingencies
Other
Other accrued expenses and current liabilities
Deferred revenue
Current liabilities
Convertible notes
Long-term deferred revenue
Net lease obligations
Other long-term liabilities
Capital lease and other long-term liabilities
Deferred tax liabilities related to investment in Alibaba Group
Deferred and other long-term tax liabilities
Noncurrent liabilities
Total liabilities
Preferred stock, $0.001 par value; none issued or outstanding
Common stock, $0.001 par value
Additional paid-in capital
Treasury stock at cost
Retained earnings
Accumulated other comprehensive income
Total Yahoo! Inc. stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

Liabilities Trends
The proportion of current liabilities as a percentage of total liabilities and equity declined significantly from 7.54% in 2012 to 2.68% in 2016, indicating a reduction in short-term financial obligations relative to the company’s capitalization. Within current liabilities, accounts payable steadily decreased from 1.08% to 0.36% over the period, showing improved management or reduced reliance on short-term vendor credit. Accrued content, connection, traffic acquisition, and other costs fluctuated, initially declining in 2014 and then rising again to 0.83% by 2016. Other accrued expenses and current liabilities dropped sharply after 2013 but saw a moderate increase from 1.08% in 2014 to approximately 2.09% by 2016. Noncurrent liabilities exhibited robust growth, notably rising from 7.06% in 2012 to approximately 32.68% in 2016, primarily driven by deferred tax liabilities related to investments in Alibaba Group, which surged dramatically from no recorded balance to over 28% by 2016. Convertible notes appeared in 2013 at 6.61%, then gradually decreased to around 2.7% by 2016. Deferred and other long-term tax liabilities declined from 3.95% in 2012 to 1.34% by 2016, indicating possible utilization or resolution of tax obligations. Total liabilities increased sharply from 14.6% in 2012 to a peak of 37.4% in 2014, followed by a slight decline and stabilization near 35% thereafter. The spike in total liabilities corresponds with significant deferred tax liabilities related to the Alibaba investment starting in 2014, reflecting a notable balancing shift in the company's capital structure.
Equity Components and Trends
The company’s total stockholders’ equity as a percentage of total liabilities and equity declined substantially from 85.13% in 2012 to around 64.57% in 2016. This decrease corroborates the increasing share of liabilities over the period. Additional paid-in capital decreased markedly from a high of 55.92% in 2012 to around 18.98% in 2016, indicating either reductions in capital contributions or reallocations within shareholder equity. Retained earnings showed a downward trend, dropping from 33.87% in 2012 to 9.06% in 2016, suggesting either dividend distributions, losses, or other adjustments reducing accumulated profits. Accumulated other comprehensive income rose sharply, notably after 2013, from 3.34% in 2012 to 38.43% by 2016, indicating accumulating unrealized gains or changes in valuation affecting comprehensive income components. Treasury stock at cost remained a negative component throughout the period but reduced its magnitude from -8% in 2012 to roughly -1.89% in 2016, reflecting possible repurchases or reclassifications.
Specific Observations on Certain Liability Items
Income taxes payable related to the sale of Alibaba Group ADSs appeared only in 2015 as a significant liability at 5.3%, which then disappeared in subsequent periods, suggesting a one-off tax obligation that was settled or reclassified. The current liability for uncertain tax contingencies decreased from 0.18% in 2012 to minimal values by 2016, pointing to reduced tax uncertainty. Deferred income taxes stayed near zero throughout the period, while deferred tax liabilities related specifically to the Alibaba investment greatly increased, suggesting a shift in tax positions associated with that investment.
Summary and Insights
Over the analyzed period, the company underwent significant shifts in its capital structure with a marked increase in liabilities, particularly noncurrent liabilities driven by deferred tax obligations related to a major investment. Concurrently, equity components contracted as retained earnings and paid-in capital declined, though unrealized gains or other comprehensive income increased substantially, partially offsetting equity reductions. The reduction in current liabilities and specific accrued expenses indicates improved short-term liability management, while the increasing deferred tax liabilities highlight the impact of investment-related tax considerations on the company's financial obligations. Overall, the data reflects a transition from equity-heavy financing toward a more balanced structure with higher long-term liabilities, accompanied by considerable changes in tax-related accounts and equity valuation components.