Stock Analysis on Net

Air Products & Chemicals Inc. (NYSE:APD)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 9, 2021.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Air Products & Chemicals Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014
Payables and accrued liabilities
Accrued income taxes
Short-term borrowings
Current portion of long-term debt
Current liabilities of discontinued operations
Current liabilities
Long-term debt, excluding current portion
Long-term debt, related party
Other noncurrent liabilities
Deferred income taxes
Noncurrent liabilities
Total liabilities
Redeemable noncontrolling interest
Common stock, par value $1 per share
Capital in excess of par value
Retained earnings
Accumulated other comprehensive loss
Treasury stock, at cost
Total Air Products shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-K (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-K (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-K (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-K (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-K (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-K (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-Q (reporting date: 2014-12-31).


Payables and accrued liabilities
The proportion of payables and accrued liabilities relative to total liabilities and equity experienced fluctuations, generally ranging between approximately 7% and 10.5%. Notable increases occurred mid-2015 and mid-2016, followed by a gradual decline toward early 2020, reaching a low near 6.7%, then a slight increase through mid-2021.
Accrued income taxes
This category exhibited relatively low percentages, mostly below 1%. An exceptional spike was observed in early 2017, climbing sharply to over 3%, after which it reverted to prior levels and remained subdued around 0.3% to 0.6%.
Short-term borrowings
Short-term borrowings declined markedly over the observed period. They started near 7%–9% in 2014–2015, then sharply decreased after 2016, falling below 1% by the end of 2016 and remaining minimal through 2021, indicating reduced reliance on short-term debt.
Current portion of long-term debt
This item showed volatility, with values ranging from minimal (around 0.03%) to peaks exceeding 5%. Significant fluctuations were observed, including spikes in late 2015 and late 2016. The data reflects intermittent shifts in debt maturity structure.
Current liabilities of discontinued operations
Reported only intermittently in 2016 and 2017, this category accounted for less than 1% of total liabilities and equity, suggesting a minor and possibly transitional component.
Current liabilities (total)
Current liabilities as a whole fluctuated, generally ranging from about 9% to over 20%. It peaked in late 2015 near 21%, then demonstrated a downward trend into 2017, stabilizing between 9% and 12% thereafter, implying improved short-term liability management.
Long-term debt, excluding current portion
This component decreased overall from nearly 27% in 2014 to mid-teens by 2019, followed by a notable surge to around 28.5% in 2020, before somewhat stabilizing slightly below 27% by mid-2021. The jump in 2020 suggests increased long-term leverage or refinancing activities.
Long-term debt, related party
Reported from 2018 onwards, this small component fluctuated modestly between approximately 1% and 2%, indicating a consistent but limited related-party debt presence.
Other noncurrent liabilities
These liabilities hovered between 6% and 11%, peaking around 11% in late 2015 and early 2016 before progressively declining to below 7% by mid-2021, reflecting gradual reductions or reclassifications in other liabilities.
Deferred income taxes
Deferred income taxes as a percentage were generally stable, fluctuating roughly between 3.5% and 6.3%, with a mild declining trend from 2014 to 2017, then stabilizing around 4% to 4.2% from 2017 through 2021.
Noncurrent liabilities (total)
Overall noncurrent liabilities showed a decline from nearly 39% in 2014 down to around 29% by late 2018, followed by a rise to about 41% in 2020, and stabilization near 38% in 2021. This pattern parallels fluctuations in long-term debt, suggesting changes in longer-term financial commitments.
Total liabilities
Total liabilities declined steadily from a high near 58% in early 2016 to approximately 40% by 2019. This was disrupted by a significant increase back to around 51% in 2020, then a slight decrease to just below 49% by mid-2021. The 2020 rise indicates possibly increased borrowing or reclassification of liabilities during that period.
Redeemable noncontrolling interest
Reported early in the period only, this element remained low and disappeared after initial reporting, indicating either elimination or reclassification.
Common stock, par value
This equity component remained relatively stable around 1.3% to 1.5% until 2017, with a slight downward trend thereafter, reaching just under 1% by mid-2021, suggesting no significant changes in common stock value or share structure.
Capital in excess of par value
The ratio showed minor variations, generally between 4.1% and 6.1%, with a peak in late 2016. A gradual decline is observable after 2017, indicating modest reductions or dilution effects.
Retained earnings
Retained earnings represented the largest portion of equity, growing from about 58% in 2014 to a peak approximately 74% by late 2019, denoting accumulated profitability. However, a sharp decline occurred in 2020, falling to approximately 59%, with a slight recovery by mid-2021. This dip may reflect extraordinary charges or dividend payouts.
Accumulated other comprehensive loss
This negative equity component fluctuated between roughly -6.4% and -16.4%, with its lowest point around the end of 2016. A general improvement trend is noted from late 2019 onward, with the loss lessening steadily toward approximately -6.4% by mid-2021.
Treasury stock, at cost
Treasury stock consistently represented a significant negative component, decreasing from about -13.8% in 2014 to less than -7.6% by 2021. The reduction indicates ongoing share repurchases or retirements, enhancing shareholder equity.
Total Air Products shareholders’ equity
Shareholders’ equity increased from roughly 41.7% in 2014 to a peak above 57% in 2018, followed by fluctuations falling back near 48% by 2020, then a slight recovery to just below 50% by mid-2021. The 2020 decrease aligns with observed declines in retained earnings, indicating equity impacts from that period.
Noncontrolling interests
Noncontrolling interests remained minor, fluctuating between 0.5% and nearly 1.9%, showing gradual growth from 2017 to 2020, followed by some decline and stabilization near 1.5% by mid-2021.
Total equity
Total equity followed a similar trajectory as shareholders’ equity, rising from approximately 42.5% in 2014 to a maximum near 60% by late 2019, then dropping sharply to about 48.5% in 2020, and recovering modestly toward 51.4% by mid-2021. This reflects a recovery phase after a significant equity contraction.
Total liabilities and equity
This metric consistently summed to 100%, re-affirming the proportional analysis of liabilities and equity components.