Stock Analysis on Net
Stock Analysis on Net

Constellation Brands Inc. (NYSE:STZ)

This company has been moved to the archive! The financial data has not been updated since January 5, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 

Constellation Brands Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Feb 28, 2022 Feb 28, 2021 Feb 29, 2020 Feb 28, 2019 Feb 28, 2018 Feb 28, 2017
Short-term borrowings 1.25 0.00 0.87 2.71 3.64 3.26
Current maturities of long-term debt 2.34 0.11 2.69 3.64 0.11 4.90
Accounts payable 3.48 1.70 2.04 2.11 2.88 3.01
Salaries, commissions, and payroll benefits and withholdings 0.99 0.86 0.67 0.56 0.73 0.80
Promotions and advertising 0.67 0.59 0.70 0.62 0.56 0.63
Accrued interest 0.33 0.34 0.35 0.37 0.42 0.47
Current operating lease liability 0.31 0.25 0.28 0.00 0.00 0.00
Accrued excise taxes 0.17 0.07 0.00 0.00 0.00 0.00
Deferred revenue 0.12 0.06 0.00 0.00 0.00 0.00
Income taxes payable 0.08 0.09 0.09 0.08 0.24 0.32
Other 0.69 0.61 0.77 0.73 0.90 1.11
Other accrued expenses and liabilities 3.37% 2.88% 2.86% 2.36% 2.84% 3.34%
Current liabilities 10.44% 4.68% 8.46% 10.82% 9.47% 14.50%
Long-term debt, less current maturities 36.70 38.42 41.03 40.23 45.85 41.50
Deferred income taxes 1.99 2.10 1.41 3.52 3.50 6.09
Noncurrent operating lease liability 1.77 1.74 1.77 0.00 0.00 0.00
Unrecognized tax benefit liabilities 1.23 0.99 1.01 0.82 0.46 0.00
Deferred revenue 0.40 0.01 0.00 0.00 0.00 0.00
Long-term income tax payable 0.29 0.32 0.35 0.33 0.81 0.00
Other 0.58 0.35 0.32 0.36 0.66 0.89
Deferred income taxes and other liabilities 6.27% 5.51% 4.85% 5.03% 5.42% 6.98%
Noncurrent liabilities 42.97% 43.93% 45.88% 45.26% 51.28% 48.49%
Total liabilities 53.40% 48.61% 54.35% 56.08% 60.74% 62.99%
Preferred Stock, $0.01 par value; Issued, none 0.00 0.00 0.00 0.00 0.00 0.00
Class A Stock, $0.01 par value 0.01 0.01 0.01 0.01 0.01 0.01
Class B Stock, $0.01 par value 0.00 0.00 0.00 0.00 0.00 0.00
Class 1 Stock, $0.01 par value 0.00 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 7.00 5.92 5.54 4.83 13.76 14.81
Retained earnings 56.10 55.78 50.12 48.84 44.93 39.30
Accumulated other comprehensive loss -1.60 -1.24 -0.97 -1.21 -0.99 -2.15
Treasury stock -16.14 -10.29 -10.30 -9.52 -18.54 -14.93
Total CBI stockholders’ equity 45.37% 50.17% 44.40% 42.94% 39.18% 37.04%
Noncontrolling interests 1.22 1.22 1.25 0.98 0.08 -0.03
Total stockholders’ equity 46.60% 51.39% 45.65% 43.92% 39.26% 37.01%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

Short-term borrowings
The proportion of short-term borrowings relative to total liabilities and stockholders' equity showed some fluctuation, starting at 3.26% in 2017, peaking slightly at 3.64% in 2018, then decreasing significantly to 0.87% in 2020, before rising again to 1.25% in 2022. Missing data in some years limits a full assessment.
Current maturities of long-term debt
These liabilities exhibited variability, starting at 4.9% in 2017, dropping sharply to 0.11% in 2018, then oscillating with a peak of 3.64% in 2019 and 2.34% in 2022, indicating fluctuating short-term debt obligations.
Accounts payable
Accounts payable declined from 3.01% in 2017 down to 1.7% in 2021 but then increased notably to 3.48% in 2022. This suggests a reduction in vendor liabilities over the earlier part of the period followed by a reversal in the most recent year.
Payroll-related liabilities
The category including salaries, commissions, payroll benefits, and withholdings showed a generally increasing trend, rising from 0.8% in 2017 to 0.99% in 2022, reflecting growing accruals for employee-related expenses.
Promotions and advertising liabilities
This liability remained relatively stable, fluctuating around 0.56% to 0.7% of total liabilities and equity, indicating consistent accruals tied to marketing activities.
Accrued interest
Accrued interest liability gradually decreased over the period, from 0.47% in 2017 to 0.33% in 2022, signaling a possible reduction in interest-bearing obligations or lower interest rates.
Operating lease liabilities
Introduced in 2020, current operating lease liabilities ranged from 0.25% to 0.31% by 2022, while noncurrent operating lease liabilities stabilized around 1.74% to 1.77% during 2020-2022, reflecting new accounting standards capturing lease obligations.
Accrued excise taxes and deferred revenue
Accrued excise taxes appeared from 2021 onwards, increasing from 0.07% to 0.17%. Deferred revenue also emerged during this period, rising to 0.12% in current liabilities and 0.4% in noncurrent liabilities by 2022, indicating growing obligations likely related to advance customer payments or contract liabilities.
Income taxes payable
This liability generally decreased from 0.32% in 2017 down to 0.08% in 2022, consistent with reduced short-term income tax obligations over time.
Other accrued expenses and liabilities
These liabilities decreased from 3.34% in 2017 to a low of 2.36% in 2019, then rose again to 3.37% in 2022, indicating variability in accruals for miscellaneous expenses.
Current liabilities
The aggregate current liabilities as a percentage of total liabilities and equity diminished substantially from 14.5% in 2017 to 4.68% in 2021, but rebounded to 10.44% in 2022, highlighting significant shifts in short-term obligations.
Long-term debt excluding current maturities
Long-term debt remained the largest component of total liabilities and showed a declining trend from 41.5% in 2017 to 36.7% in 2022, indicating debt reduction or reclassification over time.
Deferred income taxes
Deferred income taxes dropped markedly from 6.09% in 2017 to 1.99% in 2022, suggesting a reduction in timing differences for tax purposes or utilization of tax assets.
Unrecognized tax benefit liabilities
The proportion of unrecognized tax benefits increased progressively from 0.46% in 2018 to 1.23% in 2022, reflecting greater tax uncertainties or exposure to potential tax liabilities.
Other noncurrent liabilities
These liabilities exhibited fluctuations between 0.32% and 0.58%, without a clear trend, indicating minor changes in other long-term obligations.
Deferred income taxes and other liabilities (combined)
This combined category decreased from 6.98% in 2017 to 4.85% in 2020 but rose again to 6.27% in 2022, reflecting complex movements in long-term liabilities related to tax and other items.
Noncurrent liabilities
Noncurrent liabilities declined from 48.49% in 2017 to 42.97% in 2022, consistent with overall reductions in long-term obligations.
Total liabilities
Total liabilities as a percentage of total liabilities and shareholders’ equity decreased from 62.99% in 2017 to 48.61% in 2021, then increased again to 53.40% in 2022, demonstrating a notable reduction in leverage followed by partial reversal.
Stockholders’ equity
The total stockholders’ equity portion showed an increasing trend from 37.01% in 2017 to a peak of 51.39% in 2021 before contracting to 46.6% in 2022. Within equity, retained earnings continuously rose from 39.3% to 56.1%, treasury stock represented a large negative percentage that showed volatility, and accumulated other comprehensive loss slightly deepened over time.
Additional paid-in capital
This equity component declined from 14.81% in 2017 to a low of 4.83% in 2019, then gradually increased to 7.0% by 2022, indicating changes in capital transactions or equity financing.
Noncontrolling interests
Noncontrolling interests grew from negligible levels to about 1.22% in the later years, suggesting increases in third-party ownership in consolidated entities.

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