Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Analysis of Revenues
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Boston Scientific Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Current Debt Obligations
- The proportion of current debt obligations relative to total liabilities and equity showed a declining trend from March 2018 (5.01%) to December 2020 (0.04%). A slight increase appeared starting mid-2021, reaching 1.55% by March 2023. This indicates a significant reduction in short-term debt burden over the period, with minor fluctuations towards the end.
- Accounts Payable
- Accounts payable as a percentage of total liabilities and equity remained relatively stable with minor fluctuations, ranging from approximately 1.66% to 2.65%. There was a slight upward trend from the second quarter of 2020 onwards, peaking around 2.65% in December 2022 and March 2023.
- Accrued Expenses
- A downward trend is noted in accrued expenses from 12.74% in early 2018 to 5.83% by March 2023, with some intermittent fluctuations. The most notable decline occurred between 2018 and 2020, stabilizing around 6% thereafter, suggesting improved management or reduction in accrued liabilities.
- Other Current Liabilities
- Other current liabilities maintained a relatively stable proportion between approximately 1.6% and 3.2% over the period. Some moderate increases occurred around late 2020 and early 2022, but overall there was no dramatic shift in this category.
- Current Liabilities
- Current liabilities as a whole declined significantly from about 26% in early 2018 to around 12% by early 2023. This decrease largely reflected reductions in current debt obligations and accrued expenses, indicating a lighter short-term obligations load over time.
- Long-term Debt
- The proportion of long-term debt fluctuated between approximately 23.58% and 35.84%, with a peak around late 2019. Afterwards, it gradually trended downward, reaching 25.83% by March 2023. This pattern suggests some debt restructuring and possible repayments.
- Deferred Income Taxes
- Deferred income taxes remained low and relatively stable, fluctuating between approximately 0.37% and 2.1%, without a clear long-term trend.
- Other Long-term Liabilities
- Other long-term liabilities showed a gradual decline from 11.73% in early 2018 to about 6.07% in early 2023, indicating a reduction in this category over time.
- Long-term Liabilities
- Total long-term liabilities exhibited a peak in 2019 at nearly 48%, followed by a gradual decrease down to approximately 32.53% by early 2023. This mirrors changes in long-term debt and other long-term liabilities, pointing to improved long-term financial structure.
- Total Liabilities
- Total liabilities as a share of total liabilities and equity declined from around 63% in 2018 to mid-40%s in the early 2020s, reaching approximately 44.94% by March 2023. This decreasing trend indicates a gradual reduction in overall liabilities relative to equity.
- Common Stock
- The common stock component remained stable and minor, consistently around 0.05% to 0.08% of total liabilities and equity, reflecting no significant changes in shares outstanding.
- Treasury Stock
- Treasury stock, reported as a negative figure, showed a reduction in magnitude from -8.94% in early 2018 to about -6.84% in March 2023. This suggests a gradual decrease in treasury stock held, which may reflect share reissuance or lower repurchases.
- Additional Paid-in Capital
- Additional paid-in capital declined from a high of 89.5% in early 2018 to around 61.89% in early 2023. The downward trend suggests adjustments or distributions affecting this component, potentially share buybacks or other equity transactions.
- Accumulated Deficit
- There was a notable and consistent improvement in accumulated deficit, decreasing in negative magnitude from -43.36% in early 2018 to -1.37% by March 2023. This trend reflects improved cumulative profitability or adjustments improving retained earnings.
- Accumulated Other Comprehensive Income (Loss)
- This item showed low volatility, fluctuating between negative and positive small percentages, generally under 2%. The more recent quarters included positive values around 0.54% to 1.67%, indicating some gain in comprehensive income elements.
- Stockholders’ Equity
- Stockholders’ equity increased notably from 36.61% in early 2018 to above 54% by early 2023. This substantial gain suggests a strengthening equity base, likely supported by reduction in accumulated deficit and maintained additional paid-in capital.
- Noncontrolling Interests
- Noncontrolling interests appeared only by March 2023 at 0.79%, introducing a minor new component to equity structure.
- Total Equity
- Total equity followed the same increase pattern as stockholders’ equity from about 36.61% to 55.06% over the period, reflecting the overall strengthening of the company’s equity position relative to total financing.
- Overall Capital Structure
- The company has demonstrated a progressive reduction in total liabilities as a proportion of total financing, accompanied by a corresponding increase in equity. Both short-term and long-term liabilities have decreased in relative percentage, indicating possible deleveraging. Improvements in accumulated deficit contributed to stronger equity. Treasury stock holdings have been reduced, and additional paid-in capital has decreased, which may reflect share-related transactions. The equity base appears more robust by the end of the observed period, suggesting improved financial stability and potentially enhanced creditworthiness.