Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Coca-Cola Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Jun 27, 2025 Mar 28, 2025 Dec 31, 2024 Sep 27, 2024 Jun 28, 2024 Mar 29, 2024 Dec 31, 2023 Sep 29, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jul 1, 2022 Apr 1, 2022 Dec 31, 2021 Oct 1, 2021 Jul 2, 2021 Apr 2, 2021 Dec 31, 2020 Sep 25, 2020 Jun 26, 2020 Mar 27, 2020
Accounts payable and accrued expenses
Loans and notes payable
Current maturities of long-term debt
Accrued income taxes
Current liabilities
Long-term debt, excluding current maturities
Other noncurrent liabilities
Deferred income tax liabilities
Noncurrent liabilities
Total liabilities
Common stock, $0.25 par value
Capital surplus
Reinvested earnings
Accumulated other comprehensive loss
Treasury stock, at cost
Equity attributable to shareowners of The Coca-Cola Company
Equity attributable to noncontrolling interests
Total equity
Total liabilities and equity

Based on: 10-Q (reporting date: 2025-06-27), 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 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: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27).


Current Liabilities Trends
Current liabilities as a percentage of total liabilities and equity demonstrate notable fluctuations. Beginning at 34.46% in March 2020, a swift decline ensued, reaching a low of 16.73% by December 2020. Post this period, current liabilities experienced a general increase, peaking around 28.92% in the middle of 2024 before starting to taper off again toward 21.03% by mid-2025. Accounts payable and accrued expenses, a key component, rose steadily after mid-2021 from approximately 12.14% to a notable 22.42% by late 2024, suggesting increasing short-term operational obligations.
Debt Structure Analysis
Loans and notes payable declined sharply from 14.53% to a low near 2% through 2021, followed by a period of modest fluctuations between 2% and 6%, indicating a reduction in short-term borrowings initially, with some reinstatements subsequently. Current maturities of long-term debt remained relatively low with minor fluctuations, mostly below 3%, peaking modestly at 2.13% in late 2023. Long-term debt as a portion of total liabilities and equity remained high and stable, between roughly 33% and 45%, though it showed a slight downward trend post-2020. Overall, the debt profile indicates a preference for long-term borrowings with an emphasis on reducing short-term debt obligations initially, followed by stabilization.
Noncurrent Liabilities and Deferred Tax Liabilities
Noncurrent liabilities consistently represent a substantial share of total liabilities and equity, ranging predominantly from approximately 44% to nearly 59%, with a peak in late 2020 followed by a gradual decline through 2025. Deferred income tax liabilities exhibited a slight increase over the period, moving from about 2% to a peak of 3.38%, before declining toward 2.28% by mid-2025, consistent with fluctuations in taxable income and timing differences in tax recognition.
Equity Composition and Trends
Equity attributable to the company’s shareholders steadily increased from around 19.31% in early 2020 to a peak near 27.4% by mid-2025. Total equity followed a similar pattern, rising from approximately 21.1% to nearly 29% over the same period, reflecting strengthening shareholders’ equity. Capital surplus remained stable around 18-20%, while reinvested earnings consistently contributed the largest portion of equity, fluctuating between roughly 68.8% and 76.7%. Treasury stock, representing a large negative component, remained relatively steady in magnitude around -53% to -59%, indicating ongoing share repurchase activities that reduce the equity base.
Other Financial Items
Accrued income taxes increased marginally from 0.49% to a peak near 1.7% and then declined slightly, suggesting variable tax obligations consistent with income performance. Accumulated other comprehensive loss remained negative through the periods, fluctuating moderately between about -14.6% and -17.4%, indicating persistent unrealized losses or currency translation adjustments affecting equity. Equity attributable to noncontrolling interests remained minor and stable, around 1.5% to 2.3%, showing limited impact on total equity composition.
Comprehensive Overview
The overall structure of liabilities and equity shows a stable but evolving balance sheet profile. There was a marked reduction in short-term borrowings and current liabilities early in the period, compensated by steady long-term debt and increasing equity levels driven by retained earnings and capital surpluses. Increased accounts payable and accrued expenses in recent years suggest growing operational activities or supplier financing. The consistent repurchase of treasury stock reduces equity but may reflect shareholder return strategies. The company maintains a balanced capital structure with a clear inclination towards long-term funding and strong equity growth.