Stock Analysis on Net

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

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

Microsoft Excel
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 16.22 21.60 22.42 21.65 19.54 15.85 17.25 16.74 16.01 16.98 17.41 15.26 14.11 15.49 14.16 13.44 12.14 12.77 13.12 12.32 13.44
Loans and notes payable 5.33 1.49 2.07 3.75 6.09 4.66 4.01 4.90 5.60 2.56 3.67 4.68 3.84 3.50 2.06 2.07 2.15 2.50 6.03 9.95 14.53
Current maturities of long-term debt 0.16 0.64 1.00 1.92 1.40 2.01 2.13 1.19 0.83 0.43 0.79 0.85 1.10 1.42 0.49 0.37 3.20 0.56 7.73 5.47 6.00
Accrued income taxes 1.70 1.38 1.39 1.60 1.49 1.61 1.62 1.66 1.54 1.30 1.31 1.26 0.92 0.73 0.93 1.08 0.83 0.90 0.80 0.61 0.49
Current liabilities 23.41% 25.11% 26.88% 28.92% 28.53% 24.13% 25.01% 24.49% 23.98% 21.26% 23.18% 22.04% 19.97% 21.14% 17.65% 16.96% 18.32% 16.73% 27.67% 28.35% 34.46%
Long-term debt, excluding current maturities 42.80 42.14 40.46 37.63 35.32 36.38 35.02 36.18 37.10 39.21 38.35 39.45 39.39 40.40 43.48 44.13 44.64 45.96 40.65 39.85 33.07
Other noncurrent liabilities 4.24 4.06 4.01 4.03 5.50 8.67 8.64 8.58 8.08 8.54 8.66 8.64 8.77 9.12 9.27 9.26 9.51 10.83 8.78 9.46 9.39
Deferred income tax liabilities 2.27 2.46 2.16 2.34 2.54 2.70 2.80 2.76 3.26 3.14 3.38 3.26 3.33 2.99 2.97 2.76 2.72 2.10 2.00 2.08 1.97
Noncurrent liabilities 49.31% 48.66% 46.62% 44.00% 43.35% 47.75% 46.46% 47.52% 48.44% 50.90% 50.39% 51.34% 51.49% 52.51% 55.72% 56.15% 56.87% 58.89% 51.43% 51.38% 44.44%
Total liabilities 72.71% 73.77% 73.51% 72.91% 71.88% 71.87% 71.48% 72.02% 72.42% 72.16% 73.57% 73.38% 71.47% 73.65% 73.36% 73.11% 75.18% 75.62% 79.10% 79.73% 78.90%
Common stock, $0.25 par value 1.73 1.75 1.66 1.74 1.77 1.80 1.80 1.79 1.81 1.90 1.90 1.89 1.87 1.87 1.94 1.95 1.96 2.02 1.81 1.86 1.87
Capital surplus 19.54 19.69 18.55 19.24 19.44 19.66 19.55 19.29 19.39 20.29 20.21 19.94 19.55 19.20 19.79 19.71 19.59 20.16 17.97 18.34 18.41
Reinvested earnings 75.89 75.64 71.47 74.30 75.33 75.52 75.62 73.84 74.06 76.56 76.67 75.10 74.38 73.23 75.60 75.21 74.46 76.24 68.80 70.64 71.13
Accumulated other comprehensive loss -16.20 -16.75 -14.62 -15.27 -14.59 -14.61 -15.18 -14.24 -14.70 -16.06 -17.16 -15.89 -14.18 -15.19 -15.73 -14.74 -15.70 -16.73 -15.89 -17.38 -16.70
Treasury stock, at cost -55.19 -55.61 -52.10 -54.45 -55.35 -55.82 -54.82 -54.26 -54.67 -56.70 -56.95 -56.35 -55.21 -54.73 -57.12 -57.47 -57.68 -59.59 -53.54 -54.99 -55.41
Equity attributable to shareowners of The Coca-Cola Company 25.76% 24.72% 24.95% 25.55% 26.59% 26.55% 26.98% 26.42% 25.89% 25.99% 24.66% 24.69% 26.41% 24.38% 24.48% 24.67% 22.62% 22.11% 19.15% 18.46% 19.31%
Equity attributable to noncontrolling interests 1.53 1.51 1.54 1.54 1.53 1.58 1.55 1.56 1.70 1.86 1.76 1.93 2.12 1.97 2.16 2.22 2.20 2.27 1.76 1.80 1.78
Total equity 27.29% 26.23% 26.49% 27.09% 28.12% 28.13% 28.52% 27.98% 27.58% 27.84% 26.43% 26.62% 28.53% 26.35% 26.64% 26.89% 24.82% 24.38% 20.90% 20.27% 21.10%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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).


Liabilities Trends
Accounts payable and accrued expenses as a percentage of total liabilities and equity showed an overall upward trend from 13.44% in early 2020, peaking at 22.42% in late 2024 before declining to 16.22% by the first quarter of 2025. This indicates a growing reliance on short-term obligations during the period, followed by a partial reduction near the end of the timeline.
Loans and notes payable percentage started relatively high at 14.53% in early 2020 but experienced a significant decline to as low as 1.49% by late 2024, with some fluctuations, increasing back to 5.33% in early 2025. This suggests a reduction in reliance on such debt instruments before a moderate increase towards the latest period.
Current maturities of long-term debt remained relatively low and volatile, fluctuating between 0.16% and 7.73% over the quarters, with a notable low in late 2024 and early 2025, possibly indicating reduced short-term repayments on long-term debt.
Accrued income taxes increased steadily from 0.49% in early 2020 to mostly range between 1.3% and 1.7% in the later periods, demonstrating growing tax accruals relative to liabilities and equity.
Current liabilities decreased sharply between early and late 2020 from 34.46% to 16.73%, reflecting possible reduction in short-term obligations, but then gradually rose again reaching a high near 28.92% in mid-2024 before declining slightly to 23.41% by early 2025.
Long-term debt excluding current maturities showed a rising trend from 33.07% in early 2020 to a peak near 45.96% at the end of 2020, followed by a gradual decline and subsequent fluctuations. It ended somewhat elevated at 42.80% in early 2025, indicating sustained but fluctuating long-term debt levels relative to total capital.
Other noncurrent liabilities decreased substantially from about 9.39% early in 2020 to near 4.24% by early 2025, suggesting a reduction in other long-term obligations.
Deferred income tax liabilities experienced minor fluctuations, mostly between 2% and 3.38%, reflecting stable deferred tax-related obligations over the analyzed periods.
Overall noncurrent liabilities peaked around 58.89% in late 2020 and then declined to approximately 49.31% by early 2025, indicating a shift from longer-term liabilities to a somewhat more balanced capital structure.
Total liabilities measured as a proportion of total liabilities and equity remained relatively stable in the low 70s percentile range, with a slight decline from nearly 79.73% in mid-2020 to 72.71% in early 2025, pointing to modest deleveraging or increased equity financing.
Equity Trends
Common stock as a percentage of total capital remained stable around 1.7% to 2.0%, indicating consistent equity share capital structure.
Capital surplus also remained steady around 18% to 20%, showing consistent additional paid-in capital relative to total capital.
Reinvested earnings formed a large part of equity, generally ranging from about 68.8% in early 2020, peaking near 76.67% in late 2022, and fluctuating around mid-70% thereafter, reflecting retained profits' strong contribution to equity.
Accumulated other comprehensive loss consistently accounted for a negative component, fluctuating between about -14.18% and -17.38%, indicating persistent other comprehensive losses impacting equity.
Treasury stock at cost maintained a substantial negative weight, generally between -52% and -59%, implying significant share repurchases reducing overall equity.
Equity attributable to shareowners showed an increasing trend from 19.31% in early 2020 to peaks around 27% in select quarters of 2022 and early 2023, with slight variability thereafter, suggesting growth in owned capital against total financing.
Equity attributable to noncontrolling interests remained low and relatively constant near 1.5% to 2.3%, indicating minor influence on total equity.
Total equity as a proportion increased steadily from 21.1% in early 2020 to over 28% mid-2023, before a slight reduction to around 27.29% in early 2025, showing gradual strengthening of the equity base relative to total capital.
Overall Capital Structure
Total liabilities and equity summed uniformly to 100% at all points, confirming the data's internal consistency.
The data reveal a gradual shift from short-term liabilities towards more balanced and somewhat increased equity proportions over the four-plus year period. Noncurrent liabilities and equity share increased relative to current liabilities.
The consistent levels of treasury stock and accumulated comprehensive loss suggest ongoing strategic share buybacks and recognized other comprehensive losses, influencing the net equity position.