Stock Analysis on Net
Stock Analysis on Net

Boston Scientific Corp. (NYSE:BSX)

This company has been moved to the archive! The financial data has not been updated since May 4, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Boston Scientific Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Current debt obligations 0.06 0.81 0.04 4.63 10.73
Accounts payable 2.65 2.46 1.67 1.77 1.66
Legal reserves 0.71 0.82 1.64 1.54 3.39
Payroll and related liabilities 2.56 2.63 2.21 2.32 3.00
Rebates 1.08 1.09 1.08 0.97 1.09
Contingent consideration 0.23 0.90 0.08 0.18 0.66
Other 2.07 2.13 2.12 1.89 2.56
Accrued expenses 6.65% 7.56% 7.14% 6.90% 10.70%
Deferred revenue 0.68 0.65 0.45 0.47 0.55
Licensing arrangements 0.24 0.43 0.50 0.64 0.00
Taxes payable 0.71 0.65 0.51 0.87 0.60
Liabilities held for sale 0.00 0.00 0.65 0.00 0.00
Other 0.71 0.71 1.00 0.63 0.82
Other current liabilities 2.34% 2.43% 3.11% 2.61% 1.96%
Current liabilities 11.71% 13.26% 11.96% 15.92% 25.05%
Long-term debt 27.46 27.32 29.67 28.11 22.87
Deferred tax liabilities 0.44 0.96 1.07 1.95 1.56
Accrued income taxes 1.84 1.37 1.78 2.18 3.52
Legal reserves 0.65 0.88 0.21 0.74 1.03
Contingent consideration 0.23 0.61 0.56 0.98 1.00
Licensing arrangements 0.25 0.44 0.82 1.22 0.00
Long-term operating lease liabilities 1.07 1.21 1.30 0.90 0.00
Deferred revenue 0.89 0.86 0.84 0.84 0.00
Other 1.34 1.52 2.00 1.75 3.41
Other long-term liabilities 6.26% 6.89% 7.51% 8.62% 8.96%
Long-term liabilities 34.16% 35.17% 38.24% 38.68% 33.40%
Total liabilities 45.88% 48.43% 50.20% 54.60% 58.45%
Preferred stock, $0.01 par value 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.05 0.05 0.06 0.05 0.08
Treasury stock, at cost -6.93 -6.98 -7.31 -5.62 -8.18
Additional paid-in capital 62.48 62.01 64.11 57.45 82.61
Accumulated deficit -2.31 -4.32 -7.73 -7.37 -33.11
Accumulated other comprehensive income, net of tax 0.83 0.82 0.67 0.88 0.16
Stockholders’ equity 54.12% 51.57% 49.80% 45.40% 41.55%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2018-12-31).

Current Debt Obligations
The proportion of current debt obligations relative to total liabilities and stockholders’ equity showed a significant decrease from 10.73% in 2018 to almost negligible levels in 2020 at 0.04%, with minor fluctuations thereafter, remaining below 1% through 2022. This suggests a substantial reduction in short-term borrowing or refinancing into longer-term obligations.
Accounts Payable
Accounts payable as a percentage of total liabilities and equity increased gradually from 1.66% in 2018 to 2.65% in 2022, indicating a slight growth in amounts owed to suppliers or creditors over the period.
Legal Reserves
Legal reserves declined markedly from 3.39% in 2018 to 0.71% in 2022, reflecting reduced potential legal liabilities or settlements expected during the timeframe.
Payroll and Related Liabilities
These liabilities fluctuated moderately, decreasing from 3% in 2018 to a low of 2.21% in 2020, before rising slightly to 2.63% in 2021 and settling at 2.56% in 2022, showing relative stability with minor variation.
Rebates
The rebate liabilities remained fairly constant, holding near 1.08%-1.09% of total liabilities and equity from 2020 to 2022, indicating stable obligations in this category.
Contingent Consideration
Contingent consideration experienced a decline from 0.66% in 2018 to 0.08% in 2020, spiked to 0.9% in 2021, and then decreased again to 0.23% in 2022, demonstrating volatility possibly related to acquisition-related liabilities or earn-out payments.
Other Current Liabilities and Accrued Expenses
Other current liabilities percentage rose from 1.96% in 2018 to a peak of 3.11% in 2020 before dropping to 2.34% in 2022. Accrued expenses showed a downward trend from 10.7% in 2018 to 6.65% in 2022, indicating improved management or settlement of accrued obligations.
Deferred Revenue
Deferred revenue hovered around 0.45% to 0.68% in current liabilities and approximately 0.84% to 0.89% in long-term liabilities, showing slight increases indicative of more advance payments or contract liabilities over time.
Licensing Arrangements
Licensing arrangement liabilities decreased steadily from 0.64% in 2019 to 0.24% in 2022 within current liabilities, and similarly declined in long-term liabilities from 1.22% to 0.25%, suggesting diminishing obligations or completed agreements.
Long-Term Debt
Long-term debt rose from 22.87% in 2018 to a peak of 29.67% in 2020, then slightly declined to 27.46% in 2022, reflecting an increased reliance on long-term financing during the mid-period with some repayment or restructuring afterward.
Deferred Tax Liabilities and Accrued Income Taxes
Deferred tax liabilities showed a pronounced decline from 1.56% in 2018 to 0.44% in 2022, while accrued income taxes decreased from 3.52% to a low of 1.37% in 2021 before rising modestly to 1.84% in 2022, indicating fluctuating tax obligations and potential tax planning effects.
Other Long-Term Liabilities
Other long-term liabilities steadily declined from 8.96% in 2018 to 6.26% in 2022, indicating a reduction in miscellaneous long-term obligations.
Total Liabilities
Total liabilities as a percentage of total liabilities and equity decreased consistently from 58.45% in 2018 to 45.88% in 2022, illustrating a strengthening balance with reduced overall liabilities proportion.
Stockholders' Equity
Stockholders’ equity increased progressively from 41.55% in 2018 to 54.12% in 2022. This growth is supported by a notable reduction in accumulated deficit from -33.11% in 2018 to -2.31% in 2022 and relatively stable additional paid-in capital after a sizeable drop in 2019, signifying enhanced retained earnings and equity base.
Treasury Stock
Treasury stock as a negative component fluctuated between -8.18% and -5.62%, showing some buyback activity that was more significant earlier and slightly moderated/stabilized in later years.
Overall Capital Structure
The company’s financial structure exhibited a clear trend of deleveraging through lower total liabilities and higher equity proportions over the analyzed period. The reduction in current debt and accrued expenses alongside an increase in long-term debt and equity suggests a strategic shift to longer-term funding and balance sheet strengthening.