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Yahoo! Inc. (NASDAQ:YHOO)

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

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 0.36 0.46 0.38 0.82 1.08
Income taxes payable related to sale of Alibaba Group ADSs 0.00 0.00 5.30 0.00 0.00
Accrued content, connection, traffic acquisition, and other costs 0.83 0.56 0.28 0.71 0.68
Deferred income taxes 0.00 0.00 0.01 0.00 0.00
Accrued compensation and related expenses 0.71 0.69 0.60 2.04 1.97
Income taxes payable 0.01 0.01 -0.43 0.64 0.06
Accrued professional service expenses 0.06 0.09 0.08 0.42 0.40
Accrued sales and marketing related expenses 0.03 0.09 0.03 0.11 0.07
Accrued restructuring costs 0.06 0.09 0.08 0.13 0.34
Current liability for uncertain tax contingencies 0.01 0.03 0.00 0.00 0.18
Other 0.38 0.52 0.43 1.36 1.02
Other accrued expenses and current liabilities 2.09% 2.07% 1.08% 5.40% 4.73%
Deferred revenue 0.23 0.30 0.54 1.75 1.74
Current liabilities 2.68% 2.83% 7.31% 7.98% 7.54%
Convertible notes 2.70 2.73 1.89 6.61 0.00
Long-term deferred revenue 0.08 0.06 0.03 1.54 2.38
Net lease obligations 0.05 0.07 0.08 0.26 0.22
Other long-term liabilities 0.15 0.19 0.16 0.43 0.51
Capital lease and other long-term liabilities 0.20% 0.26% 0.23% 0.69% 0.73%
Deferred tax liabilities related to investment in Alibaba Group 28.36 27.90 26.07 0.00 0.00
Deferred and other long-term tax liabilities 1.34 1.89 1.87 5.05 3.95
Noncurrent liabilities 32.68% 32.84% 30.09% 13.89% 7.06%
Total liabilities 35.35% 35.67% 37.40% 21.86% 14.60%
Preferred stock, $0.001 par value; none issued or outstanding 0.00 0.00 0.00 0.00 0.00
Common stock, $0.001 par value 0.00 0.00 0.00 0.01 0.01
Additional paid-in capital 18.98 19.48 13.71 51.70 55.92
Treasury stock at cost -1.89 -2.02 -1.15 -1.19 -8.00
Retained earnings 9.06 10.11 14.42 25.39 33.87
Accumulated other comprehensive income 38.43 36.67 35.54 1.89 3.34
Total Yahoo! Inc. stockholders’ equity 64.57% 64.25% 62.53% 77.80% 85.13%
Noncontrolling interests 0.07 0.08 0.07 0.33 0.27
Total equity 64.65% 64.33% 62.60% 78.14% 85.40%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The structural composition of the balance sheet experienced a significant shift between 2012 and 2016, characterized by a substantial increase in the proportion of total liabilities and a corresponding decrease in total equity. Total liabilities rose from 14.60% of total liabilities and equity in 2012 to a peak of 37.40% in 2014, before stabilizing at approximately 35.35% by 2016. Conversely, total equity declined from 85.40% in 2012 to 64.65% in 2016.

Liability Structure and Trends
A divergence is observed between current and noncurrent liabilities. Current liabilities remained relatively stable between 2012 and 2014 (ranging from 7.31% to 7.98%) but contracted sharply thereafter, ending at 2.68% in 2016. In contrast, noncurrent liabilities grew aggressively from 7.06% in 2012 to 32.68% in 2016. This growth is almost entirely attributable to the emergence and increase of deferred tax liabilities related to the investment in Alibaba Group, which appeared in 2014 at 26.07% and rose to 28.36% by 2016.
Equity Composition Shifts
The equity profile underwent a fundamental transformation. Additional paid-in capital saw a precipitous decline from 55.92% in 2012 to 18.98% in 2016. Retained earnings also followed a consistent downward trend, falling from 33.87% in 2012 to 9.06% in 2016. This erosion of traditional equity accounts was offset by a massive increase in accumulated other comprehensive income, which surged from 3.34% in 2012 to 38.43% in 2016, mirroring the timing of the tax-related liability increases.
Short-term Obligation Trends
Within current liabilities, most accruals experienced a general decline in their relative weight. Accounts payable dropped from 1.08% in 2012 to 0.36% in 2016, and accrued compensation and related expenses fell from 1.97% to 0.71% over the same period. Deferred revenue also showed a marked decrease, moving from 1.74% in 2012 to 0.23% in 2016, indicating a reduction in the relative proportion of prepaid obligations.
Long-term Financing and Obligations
Convertible notes were introduced in 2013 at 6.61% and fluctuated between 1.89% and 2.73% in subsequent years. Other long-term obligations, including net lease obligations and capital lease liabilities, remained marginal and trended slightly downward, with net lease obligations falling from 0.22% in 2012 to 0.05% in 2016.

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