Name: Amphenol Corp. (NYSE:APH) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

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.

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Amphenol Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Accounts payable	1,350,900)	1,309,100)	1,312,000)	1,120,700)	866,800)
Accrued salaries, wages and employee benefits	412,800)	416,700)	366,200)	195,400)	171,800)
Accrued income taxes	166,000)	169,500)	88,800)	112,600)	127,900)
Accrued dividends	131,700)	124,900)	119,800)	86,800)	74,400)
Other accrued expenses	737,500)	653,200)	556,300)	558,500)	488,500)
Current portion of long-term debt	353,800)	2,700)	4,000)	230,300)	403,300)
Current liabilities	3,152,700)	2,676,100)	2,447,100)	2,304,300)	2,132,700)
Long-term debt, less current portion	3,983,500)	4,575,000)	4,795,900)	3,636,200)	3,203,400)
Accrued pension and postretirement benefit obligations	143,000)	127,900)	193,400)	228,600)	198,800)
Deferred income taxes	367,000)	409,800)	424,200)	299,100)	260,400)
Other long-term liabilities	453,700)	443,300)	438,700)	407,200)	424,000)
Long-term liabilities	4,947,200)	5,556,000)	5,852,200)	4,571,100)	4,086,600)
Total liabilities	8,099,900)	8,232,100)	8,299,300)	6,875,400)	6,219,300)
Redeemable noncontrolling interests	30,700)	20,600)	19,000)	—)	—)
Class A Common Stock, $0.001 par value	600)	600)	600)	300)	300)
Additional paid-in capital	3,101,200)	2,650,400)	2,409,000)	2,068,400)	1,683,300)
Retained earnings	5,921,100)	4,979,400)	4,278,900)	3,705,400)	3,348,400)
Treasury stock, at cost	(142,800)	(79,800)	(100,000)	(111,100)	(70,800)
Accumulated other comprehensive loss	(533,600)	(535,000)	(286,500)	(278,100)	(430,900)
Stockholders’ equity attributable to Amphenol Corporation	8,346,500)	7,015,600)	6,302,000)	5,384,900)	4,530,300)
Noncontrolling interests	49,300)	57,900)	58,100)	67,000)	65,900)
Total equity	8,395,800)	7,073,500)	6,360,100)	5,451,900)	4,596,200)
Total liabilities, redeemable noncontrolling interests and equity	16,526,400)	15,326,200)	14,678,400)	12,327,300)	10,815,500)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

The financial position between 2019 and 2023 is characterized by a substantial expansion of stockholders' equity and a strategic fluctuation in long-term debt. While total liabilities increased over the five-year period, the rate of equity growth outpaced liability growth, resulting in a strengthened solvency profile and a shift toward a more equity-funded capital structure.

Liability Trends and Debt Management: Total liabilities rose from 6.22 billion in 2019 to a peak of 8.30 billion in 2021, before stabilizing at 8.10 billion by 2023. This trajectory was primarily influenced by long-term debt, which increased from 3.20 billion in 2019 to 4.80 billion in 2021, followed by a steady reduction to 3.98 billion by the end of 2023.; Current liabilities exhibited a consistent upward trend, growing from 2.13 billion in 2019 to 3.15 billion in 2023. This increase is largely attributable to accounts payable, which rose from 866.8 million to 1.35 billion, and other accrued expenses, which grew from 488.5 million to 737.5 million.; The current portion of long-term debt showed significant volatility, dropping to a low of 2.7 million in 2022 before increasing sharply to 353.8 million in 2023, indicating shifts in the maturity schedule of the company's debt obligations.
Equity Growth and Capital Structure: Total equity experienced robust growth, increasing from 4.60 billion in 2019 to 8.40 billion in 2023. The primary driver of this expansion was retained earnings, which grew from 3.35 billion to 5.92 billion, signaling strong internal capital generation and profitability.; Additional paid-in capital rose from 1.68 billion to 3.10 billion over the period, suggesting significant equity contributions or the impact of acquisition-related accounting. Simultaneously, treasury stock increased from 70.8 million to 142.8 million, reflecting active share repurchase programs.; Accumulated other comprehensive loss remained a significant contra-equity account, fluctuating between 278.1 million and 535.0 million, with the highest loss recorded in 2022.

A critical transition in the capital structure is observed between 2019 and 2023. In 2019, total liabilities exceeded total equity by approximately 1.62 billion. By 2023, this relationship inverted, with total equity exceeding total liabilities by approximately 295.9 million. This shift indicates a reduced reliance on external leverage and an increased financial cushion.

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