Stock Analysis on Net

Boston Scientific Corp. (NYSE:BSX)

$22.49

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

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

US$ in millions

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Current debt obligations
Accounts payable
Legal reserves
Payroll and related liabilities
Rebates
Contingent consideration
Other
Accrued expenses
Deferred revenue
Licensing arrangements
Taxes payable
Liabilities held for sale
Other
Other current liabilities
Current liabilities
Long-term debt
Deferred tax liabilities
Accrued income taxes
Legal reserves
Contingent consideration
Licensing arrangements
Long-term operating lease liabilities
Deferred revenue
Other
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.01 par value
Common stock, $0.01 par value
Treasury stock, at cost
Additional paid-in capital
Accumulated deficit
Accumulated other comprehensive income, net of tax
Stockholders’ equity
Total liabilities and stockholders’ equity

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).


The financial data over the five-year period reflects significant fluctuations and trends in the company's liabilities and equity structure. The analysis focuses on current liabilities, long-term liabilities, total liabilities, and stockholders' equity.

Current Debt Obligations
There was a dramatic decline from US$2,253 million in 2018 to a minimal US$13 million in 2020, followed by a slight recovery to US$261 million in 2021 and a small decrease again in 2022. This suggests a strategic reduction in short-term borrowings or refinancing actions.
Accounts Payable
Accounts payable increased steadily from US$349 million in 2018 to US$862 million in 2022, indicating higher short-term liabilities towards suppliers and creditors, potentially reflecting growth in operations or procurement activities.
Legal Reserves
Legal reserves decreased significantly from US$712 million in 2018 to US$231 million in 2022 in current liabilities, and similarly fluctuated but overall decreased in long-term liabilities. This points to the settlement or resolution of certain legal matters over time.
Payroll and Related Liabilities
Payroll-related liabilities increased from US$630 million in 2018 to a peak of US$848 million in 2021, then slightly declined to US$830 million in 2022, reflecting employment cost trends in line with operational scale.
Accrued Expenses
Accrued expenses remained relatively stable but with a mild decline in 2022 after peaking in 2021, suggesting consistent expense recognition but possibly improved payment cycles or cost control measures recently.
Deferred Revenue and Licensing Arrangements
Deferred revenue exhibited growth over the period, indicating an increase in prepayments or unearned income. Licensing arrangements decreased in both current and long-term liabilities, which may indicate the conclusion of associated agreements or changes in licensing income dynamics.
Long-Term Debt
Long-term debt surged substantially from US$4,803 million in 2018 to over US$9 billion in 2020 and remained at a high level, indicating significant borrowing, possibly to finance growth or acquisitions.
Deferred Tax Liabilities and Accrued Income Taxes
Deferred tax liabilities reduced notably from US$595 million in 2019 to US$144 million in 2022, while accrued income taxes declined overall but showed some rebound in 2022, suggesting changes in tax positions or effective tax planning.
Other Long-term Liabilities
Other long-term liabilities increased sharply from US$1,882 million in 2018 to US$2,635 million in 2019 before gradually declining to US$2,034 million in 2022, possibly reflecting changes in deferred compensation, pensions, or other obligations.
Total Liabilities
Total liabilities rose markedly from US$12,273 million in 2018 to a peak of US$16,688 million in 2019, then declined somewhat, stabilizing near US$14,896 million in 2022. This pattern reflects large debt increases followed by partial deleveraging or liability management.
Stockholders’ Equity
Stockholders' equity grew consistently from US$8,726 million in 2018 to US$17,573 million in 2022, indicating improved net asset value, which is supported by increases in additional paid-in capital and a reduction in accumulated deficit.
Accumulated Deficit
The accumulated deficit decreased significantly from US$6,953 million in deficit in 2018 to US$750 million in 2022, suggesting consistent profitability or capital accumulation reducing overall negative retained earnings.
Treasury Stock and Common Stock
Treasury stock remained steady at a high negative value after 2019, indicating ongoing share buybacks or holdings, while common stock value was nearly unchanged, reflecting stable issued share capital.

Overall, the data indicates a strategic reduction in short-term debt obligations, balanced by a substantial increase and subsequent stabilization in long-term debt. Current liabilities show growth in typical operating payables and accrued expenses, while legal reserves and contingent considerations have diminished, pointing to fewer legal uncertainties. The strengthening of stockholders' equity alongside a shrinking accumulated deficit suggests improving financial health and operational profitability. These trends collectively demonstrate a focus on managing liabilities and enhancing equity value over the observed period.