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.

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).

Accounts Payable: The accounts payable balance has exhibited a consistent upward trend from 866,800 thousand USD in 2019 to 1,350,900 thousand USD in 2023, indicating an increase in short-term obligations to suppliers or creditors over the five-year period.
Accrued Salaries, Wages, and Employee Benefits: There is a notable increase in accrued salaries and related employee benefits, rising sharply from 171,800 thousand USD in 2019 to 412,800 thousand USD in 2023. This reflects either increased staffing costs or timing differences in payroll accruals.
Accrued Income Taxes: Accrued income taxes decreased from 127,900 thousand USD in 2019 to 88,800 thousand USD in 2021 but then increased again to 166,000 thousand USD in 2023. This fluctuation may correspond to varying tax obligations or changes in tax payment schedules.
Accrued Dividends: Accrued dividends increased steadily from 74,400 thousand USD in 2019 to 131,700 thousand USD in 2023, indicating a possible rise in dividend payouts or a longer accrual period.
Other Accrued Expenses: Other accrued expenses grew from 488,500 thousand USD in 2019 to 737,500 thousand USD in 2023. This consistent increase suggests additional miscellaneous liabilities or growth in operational expenses accrued but not yet paid.
Current Portion of Long-Term Debt: This item decreased significantly to a minimal level in 2021 and 2022 but rose sharply again to 353,800 thousand USD by 2023. The dip followed by a rebound implies refinancing activities or debt restructuring affecting short-term liabilities.
Current Liabilities: Overall current liabilities rose steadily from 2,132,700 thousand USD in 2019 to 3,152,700 thousand USD in 2023, reflecting the increase in short-term obligations across several categories.
Long-Term Debt, Less Current Portion: Long-term debt increased from 3,203,400 thousand USD in 2019 to a peak of 4,795,900 thousand USD in 2021, followed by declines in subsequent years to 3,983,500 thousand USD in 2023. This pattern suggests initial debt accumulation followed by repayments or refinancing.
Accrued Pension and Postretirement Benefit Obligations: These obligations fluctuated downward from 198,800 thousand USD in 2019 to 127,900 thousand USD in 2022, before a slight increase to 143,000 thousand USD in 2023. This may reflect changes in actuarial assumptions or funding status.
Deferred Income Taxes: Deferred income taxes rose significantly from 260,400 thousand USD in 2019 to 424,200 thousand USD in 2021, then declined gradually to 367,000 thousand USD in 2023, indicating timing differences in tax recognition that vary year over year.
Other Long-Term Liabilities: These liabilities remained relatively stable with a slight increase from 424,000 thousand USD in 2019 to 453,700 thousand USD in 2023, suggesting consistent levels of miscellaneous long-term obligations.
Long-Term Liabilities: Long-term liabilities increased from 4,086,600 thousand USD in 2019 to 5,852,200 thousand USD in 2021 before declining to 4,947,200 thousand USD in 2023. This pattern follows the observed behavior in long-term debt and reflects overall changes in longer-term obligations.
Total Liabilities: Total liabilities showed an increase from 6,219,300 thousand USD in 2019 to a peak of 8,299,300 thousand USD in 2021, followed by slight declines through 2023, ending at 8,099,900 thousand USD. This indicates a rising but recently stabilizing liability structure.
Redeemable Noncontrolling Interests: Redeemable noncontrolling interests appeared starting in 2021 with 19,000 thousand USD and increased steadily to 30,700 thousand USD in 2023, indicating growing minority ownership interests subject to redemption.
Common Stock: Common stock par value doubled from 300 thousand USD in 2019 and 2020 to 600 thousand USD from 2021 onward, suggesting a stock issuance or split.
Additional Paid-in Capital: Additional paid-in capital consistently increased from 1,683,300 thousand USD in 2019 to 3,101,200 thousand USD in 2023, reflecting equity financing activities or accumulated capital contributions.
Retained Earnings: Retained earnings showed a consistent upward trajectory from 3,348,400 thousand USD in 2019 to 5,921,100 thousand USD in 2023, indicating profitability and earnings retention.
Treasury Stock, at Cost: Treasury stock fluctuated over the period, growing in absolute value from -70,800 thousand USD in 2019 to -142,800 thousand USD in 2023, suggesting increased share repurchases or holdings.
Accumulated Other Comprehensive Loss: Accumulated other comprehensive loss decreased from -430,900 thousand USD in 2019 to a low of -278,100 thousand USD in 2020 but then worsened to -535,000 thousand USD in 2022, maintaining a similar level at -533,600 thousand USD in 2023. This indicates volatility in unrealized gains or losses on certain financial items.
Stockholders’ Equity Attributable to the Corporation: Stockholders’ equity attributable to the corporation increased steadily from 4,530,300 thousand USD in 2019 to 8,346,500 thousand USD in 2023, reflecting strong equity growth.
Noncontrolling Interests: Noncontrolling interests slightly decreased from 65,900 thousand USD in 2019 to 49,300 thousand USD in 2023, indicating a modest reduction in minority ownership stakes.
Total Equity: Total equity increased from 4,596,200 thousand USD in 2019 to 8,395,800 thousand USD in 2023, underscoring overall growth in shareholders' equity.
Total Liabilities, Redeemable Noncontrolling Interests, and Equity: The total of liabilities, redeemable noncontrolling interests, and equity rose steadily from 10,815,500 thousand USD in 2019 to 16,526,400 thousand USD in 2023, indicating expansion in the company’s total capitalization and obligations.
Summary: The financial data reflects a pattern of growth in both liabilities and equity, with liquidity and short-term obligations increasing steadily. Long-term debt peaked mid-period and then declined, suggesting active debt management. The rise in retained earnings and paid-in capital indicates sustained profitability and equity enhancements. Treasury stock purchases increased, while accumulated other comprehensive losses exhibited significant volatility. Overall, the balance sheet portrays a company expanding its capital base alongside managing its debt profile actively.

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Amphenol Corp. (NYSE:APH)

Balance Sheet: Liabilities and Stockholders’ Equity