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Amphenol Corp. (NYSE:APH)

This company has been moved to the archive! The financial data has not been updated since April 26, 2024.

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

Amphenol Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 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
Accounts payable 7.56 8.17 7.92 7.33 7.69 8.54 9.23 9.16 8.58 8.94 8.71 8.27 8.15 9.09 9.15 8.28 6.77 8.01 7.78 7.66 7.81
Accrued salaries, wages and employee benefits 2.10 2.50 2.29 2.21 1.99 2.72 2.44 2.13 1.83 2.49 1.51 1.56 1.46 1.59 1.61 1.60 1.33 1.59 1.50 1.50 1.48
Accrued income taxes 0.90 1.00 0.72 0.66 0.94 1.11 0.82 0.82 0.78 0.60 0.68 0.65 0.99 0.91 1.00 1.06 0.99 1.18 1.58 1.46 1.74
Accrued dividends 0.79 0.80 0.80 0.82 0.81 0.81 0.79 0.79 0.80 0.82 0.58 0.59 0.66 0.70 0.64 0.67 0.61 0.69 0.69 0.64 0.67
Other accrued expenses 4.61 4.46 4.47 4.46 4.33 4.26 4.28 4.12 3.96 3.79 4.46 4.36 4.13 4.53 4.50 4.30 4.13 4.52 4.54 4.25 4.40
Current portion of long-term debt 4.50 2.14 2.26 2.31 0.02 0.02 0.02 0.19 0.16 0.03 2.00 3.61 4.01 1.87 1.95 0.02 4.15 3.73 3.78 3.79 0.06
Current liabilities held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.39 1.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current liabilities 20.47% 19.08% 18.46% 17.78% 15.77% 17.46% 17.58% 17.22% 16.12% 16.67% 19.33% 20.58% 19.40% 18.69% 18.84% 15.93% 17.97% 19.72% 19.87% 19.31% 16.16%
Long-term debt, less current portion 21.27 24.10 24.98 26.04 29.65 29.85 31.46 32.26 33.00 32.67 33.16 32.35 31.30 29.50 30.51 33.59 38.02 29.62 33.19 33.57 34.82
Accrued pension and postretirement benefit obligations 0.85 0.87 0.82 0.87 0.85 0.83 1.09 1.17 1.26 1.32 1.48 1.56 1.71 1.85 1.61 1.67 1.56 1.84 1.65 1.74 1.82
Deferred income taxes 2.22 2.22 2.62 2.67 2.68 2.67 2.93 2.88 2.84 2.89 3.03 3.00 2.40 2.43 2.16 2.42 2.25 2.41 2.16 2.23 2.51
Other long-term liabilities 2.78 2.75 2.75 2.81 3.02 2.89 2.89 2.81 3.06 2.99 2.74 2.82 3.15 3.30 3.44 3.54 3.40 3.92 3.72 3.63 3.84
Long-term liabilities 27.12% 29.94% 31.17% 32.39% 36.20% 36.25% 38.38% 39.13% 40.16% 39.87% 40.42% 39.73% 38.56% 37.08% 37.72% 41.22% 45.22% 37.78% 40.72% 41.17% 42.99%
Total liabilities 47.59% 49.01% 49.63% 50.17% 51.98% 53.71% 55.96% 56.35% 56.27% 56.54% 59.74% 60.31% 57.96% 55.77% 56.57% 57.16% 63.19% 57.50% 60.58% 60.47% 59.15%
Redeemable noncontrolling interests 0.18 0.19 0.14 0.14 0.14 0.13 0.13 0.13 0.13 0.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 19.28 18.77 19.13 18.77 17.87 17.29 16.99 16.53 16.39 16.41 15.34 15.10 16.03 16.78 16.49 16.37 14.25 15.56 14.84 14.50 14.55
Retained earnings 36.86 35.83 35.98 34.75 33.30 32.49 31.63 30.39 29.53 29.15 27.34 26.90 28.99 30.06 30.52 30.52 26.90 30.96 29.57 29.20 30.78
Treasury stock, at cost -0.62 -0.86 -1.08 -0.33 -0.45 -0.52 -0.65 -0.61 -0.68 -0.68 -0.60 -0.69 -0.89 -0.90 -0.82 -0.19 -0.48 -0.65 -0.89 -0.95 -1.17
Accumulated other comprehensive loss -3.61 -3.23 -4.17 -3.89 -3.20 -3.49 -4.45 -3.18 -2.04 -1.95 -2.25 -2.06 -2.55 -2.26 -3.30 -4.41 -4.35 -3.98 -4.62 -3.73 -3.77
Stockholders’ equity attributable to Amphenol Corporation 51.92% 50.50% 49.86% 49.31% 47.51% 45.78% 43.52% 43.14% 43.20% 42.93% 39.84% 39.26% 41.58% 43.68% 42.88% 42.29% 36.31% 41.89% 38.89% 39.01% 40.39%
Noncontrolling interests 0.31 0.30 0.38 0.38 0.37 0.38 0.38 0.39 0.39 0.40 0.42 0.43 0.46 0.54 0.55 0.55 0.50 0.61 0.52 0.52 0.46
Total equity 52.23% 50.80% 50.23% 49.68% 47.89% 46.15% 43.90% 43.52% 43.59% 43.33% 40.26% 39.69% 42.04% 44.23% 43.43% 42.84% 36.81% 42.50% 39.42% 39.53% 40.85%
Total liabilities, redeemable noncontrolling interests and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

An analysis of the capital structure reveals a consistent long-term shift from debt-based financing toward equity-based financing. Total liabilities have declined from 59.15% of the total balance sheet in March 2019 to 47.59% by March 2024. Conversely, total equity has expanded from 40.85% to 52.23% over the same period, indicating a strengthening of the company's solvency position and a reduction in financial leverage.

Debt Profile and Long-Term Obligations
A significant reduction in long-term debt is the primary driver of the overall decrease in liabilities. Long-term debt, less the current portion, decreased from 34.82% in March 2019 to 21.27% in March 2024. This steady decline suggests a strategic effort to pay down long-term borrowings or a growth in the asset base that outpaces new debt issuance. The current portion of long-term debt exhibits high volatility, fluctuating between near-zero levels and peaks of approximately 4.50%, reflecting a non-linear maturity schedule of debt obligations.
Equity Composition and Growth
The growth in total equity is primarily attributed to the accumulation of retained earnings and an increase in additional paid-in capital. Retained earnings rose from 30.78% in March 2019 to 36.86% in March 2024, demonstrating consistent profitability and the reinvestment of earnings back into the business. Additionally, additional paid-in capital increased from 14.55% to 19.28%, suggesting periodic infusions of capital from shareholders. Accumulated other comprehensive losses have remained a persistent drag on equity, fluctuating generally between -2% and -4.6%, though they have not offset the growth in retained earnings.
Current Liability Dynamics
Current liabilities have remained relatively stable, generally fluctuating between 16% and 20% of the total structure. Accounts payable have stayed within a tight range, typically between 7% and 9%, indicating a consistent management of trade credit. A notable trend is observed in accrued salaries, wages, and employee benefits, which increased from 1.48% in March 2019 to 2.10% in March 2024, with a peak of 2.72% in December 2022, potentially reflecting growth in the workforce or changes in compensation structures.
Other Long-Term Liabilities
Other long-term liabilities, including deferred income taxes and pension obligations, have shown a general downward trend. Accrued pension and postretirement benefit obligations declined from 1.82% to 0.85% over the analyzed period, contributing to the overall reduction in the long-term liability footprint. Deferred income taxes have remained relatively flat, centering around 2.2% to 3.0%.

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