Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Notes payable and current portion of long-term debt
- The percentage remained very low and stable at 0.01% from 2020 to 2021, then increased sharply to 0.7% in 2022 and peaked at 2.01% in 2023, before decreasing to 0.65% in 2024. This suggests fluctuations in short-term borrowing components relative to the total liabilities and equity.
- Trade accounts payable
- This item saw a slight increase from 2.69% in 2020 to 3.09% in 2021, followed by a decline to 2.72% in 2022 and further reduction to 2.09% in 2023. There was a minor rise in 2024 to 2.26%, indicating some volatility but generally declining trade payables in relation to total liabilities and equity after 2021.
- Compensation and benefits (current liabilities)
- This category gradually declined from 1.83% in 2020 to 1.33% in 2023, then showed a slight recovery to 1.42% in 2024, reflecting a general downward trend in this liability component over the period.
- Pension and postretirement benefits (current liabilities)
- The percentage remained constant at 0.09% from 2020 to 2021, and slightly decreased to 0.07% from 2022 through 2024, indicating stable, low levels of these liabilities.
- Income taxes and other current liabilities
- This liability peaked at 0.85% in 2021, decreased to 0.69% in 2023, then slightly increased to 0.73% in 2024, showing marginal fluctuations without a clear trend.
- Contract liabilities (current)
- The values rose from 1.59% in 2020 to 1.95% in 2022, then declined gradually to 1.68% in 2024, indicating an initial build-up followed by a gradual reduction.
- Sales and product allowances (current)
- This element showed a slight downward trend from 0.26% in 2020 to 0.18% in 2023, with a minor upturn to 0.24% in 2024.
- Current operating lease liabilities
- This category was relatively stable, around 0.25% in early years, decreasing marginally to 0.21% in 2023 and increasing slightly to 0.22% in 2024.
- Accrued expenses and other liabilities (current)
- A gradual decline was observed from 7.01% in 2020 to 5.7% in 2023, with a minor increase to 5.85% in 2024, pointing to reduced short-term obligations or better expense management.
- Current liabilities total
- The overall current liabilities remained fairly stable, fluctuating slightly between 9.72% in 2020 and 9.95% in 2022, before declining to 8.77% in 2024, indicating a slight reduction in short-term obligations relative to overall capitalization.
- Compensation and benefits (long-term liabilities)
- This liability grew modestly from 0.23% in 2020 to 0.37% in 2024, denoting a gradual increase in longer-term employee-related obligations.
- Pension and postretirement benefits (long-term)
- There was a notable decrease from 1.97% in 2020 to 0.6% in 2022, followed by a slow increase to 0.72% in 2024, suggesting some volatility but overall a reduction over the period from the early level.
- Income taxes and other long-term liabilities
- A clear downward trend from 6.5% in 2020 to 4.05% in 2024, indicating a reduction in deferred tax and other longer-term tax-related liabilities.
- Contract liabilities (long-term)
- The figures remained essentially stable, around 0.27–0.3% over the five-year period.
- Sales and product allowances (long-term)
- Marginally increased from zero in initial years to 0.01% in recent years, signifying a minimal impact in this area.
- Long-term operating lease liabilities
- There was a gradual increase from 1.03% in 2020 to 1.25% in 2024, reflecting rising obligations from lease commitments over the long term.
- Contract settlement financing payable (long-term)
- This liability declined steadily from 0.58% in 2021 to 0.37% in 2024, indicating payment or settlement of financing liabilities over the period.
- Other long-term liabilities
- A significant decline occurred from 10.23% in 2020 to 7.34% in 2024, showing a steady reduction in miscellaneous long-term obligations.
- Long-term debt excluding current portion
- This liability decreased markedly from 27.83% in 2020 to 19.99% in 2024, reflecting substantial repayment or refinancing activities reducing long-term debt burden.
- Total long-term liabilities
- The total long-term liabilities followed a clear downward trend from 38.05% in 2020 to 27.33% in 2024, consistent with the reduction of specific components noted above.
- Total liabilities
- A progressive decrease was observed, from 47.77% in 2020 to 36.10% in 2024, demonstrating an overall reduction in the company's total liabilities relative to the aggregate of liabilities and equity.
- Preferred stock
- Preferred stock percentage declined from 4.29% in 2020 to 1.98% in 2022, with no data in subsequent years, implying possible retirement or reclassification of preferred shares.
- Common stock
- Remained constant at 0.01% throughout all periods, showing no material change in nominal common stock value relative to total capitalization.
- Additional paid-in capital
- An upward trend was evident, increasing from 12.73% in 2020 to 21.57% in 2024, suggesting new equity injections or retained earnings allocations boosting paid-in capital.
- Treasury stock
- Reported only from 2023 onwards, showing a significant increase in negative value from -2.39% to -10.53%, indicating substantial share repurchases or treasury stock accumulation in recent years.
- Retained earnings
- Displayed consistent growth from 35.66% in 2020 to 56.99% in 2024, signifying strong profit retention and reinvestment in the business.
- Accumulated other comprehensive loss
- The loss deepened from -0.48% in 2020 to -4.15% in 2024, with some fluctuations, indicating increasing unfavorable adjustments primarily related to foreign currency translation or pension obligations.
- Total stockholders’ equity
- There was a steady increase from 52.23% in 2020 to 63.9% in 2024, underscoring a strengthening equity base as a proportion of total capitalization.
- Total liabilities and stockholders’ equity
- Maintained at 100% for all years, confirming the consistent basis for percentage calculations.