Stock Analysis on Net
Stock Analysis on Net

Edwards Lifesciences Corp. (NYSE:EW)

This company has been moved to the archive! The financial data has not been updated since February 14, 2022.

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

Edwards Lifesciences Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Accounts payable 2.41 1.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accrued and other liabilities 9.44 9.84 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts payable and accrued liabilities (legacy) 0.00 0.00 11.24 10.71 11.98 12.09 13.22 11.88 13.52 12.60 12.08 11.41 16.47 11.10 10.27 11.57 13.22 12.64 10.95 12.23
Operating lease liabilities, current portion 0.30 0.30 0.33 0.37 0.38 0.36 0.37 0.41 0.39 0.40 0.43 0.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Short-term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 10.07 10.54 10.28 10.50 0.00 0.00 0.00
Contingent consideration liabilities 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.72 0.91 0.76 0.00 0.00
Current liabilities 12.14% 11.84% 11.57% 11.08% 12.35% 12.44% 13.59% 12.29% 13.91% 13.00% 12.51% 11.82% 16.47% 21.17% 20.81% 22.57% 24.63% 13.40% 10.95% 12.23%
Long-term debt 7.01 7.30 7.77 8.25 8.22 8.75 9.26 9.79 9.16 9.96 10.66 10.86 11.15 9.96 10.44 7.83 7.70 18.84 19.79 17.74
Contingent consideration liabilities 0.73 0.98 1.03 2.52 2.57 2.66 2.96 2.80 2.66 3.20 3.47 3.39 3.35 3.23 3.50 3.37 3.38 2.56 3.87 4.09
Taxes payable 2.23 2.33 2.48 2.98 2.97 3.15 3.33 3.94 3.65 3.96 4.25 4.74 4.87 4.44 4.63 4.99 6.92 0.00 0.00 0.00
Operating lease liabilities, long-term portion 0.81 0.79 0.83 0.93 1.00 1.04 1.03 0.92 0.91 0.88 0.90 0.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Uncertain tax positions 3.05 3.01 3.06 3.11 2.96 2.93 2.82 2.89 2.65 2.38 2.50 2.38 2.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Litigation settlement accrual 2.25 2.47 2.76 3.08 3.22 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other liabilities 3.14 3.38 3.50 3.48 3.49 7.12 7.25 3.16 3.13 2.68 2.91 2.87 2.82 4.79 4.97 5.52 5.47 7.58 8.19 8.56
Long-term liabilities 19.22% 20.25% 21.44% 24.35% 24.44% 25.65% 26.65% 23.50% 22.15% 23.06% 24.69% 25.15% 24.54% 22.42% 23.54% 21.71% 23.47% 28.98% 31.85% 30.39%
Total liabilities 31.36% 32.09% 33.00% 35.42% 36.79% 38.09% 40.24% 35.80% 36.06% 36.06% 37.20% 36.97% 41.01% 43.59% 44.35% 44.28% 48.10% 42.38% 42.79% 42.63%
Preferred stock, $.01 par value, no shares outstanding 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $1.00 par value 7.55 7.86 8.35 8.84 8.79 9.34 9.86 3.60 3.36 3.65 3.89 3.95 4.04 3.61 3.76 3.66 3.72 3.86 4.76 5.09
Additional paid-in capital 20.00 20.14 20.60 20.75 19.87 20.32 20.61 27.58 25.02 26.32 27.13 26.50 26.00 22.51 21.27 21.10 20.49 20.58 24.66 25.26
Retained earnings 71.37 70.25 70.38 67.97 63.08 62.57 61.18 66.69 57.67 58.02 57.18 53.84 50.62 45.11 43.30 37.41 34.45 35.80 84.30 86.72
Accumulated other comprehensive loss -1.85 -1.90 -2.08 -2.39 -2.23 -2.32 -2.27 -2.50 -2.40 -2.61 -2.48 -2.58 -2.60 -2.33 -2.65 -2.08 -2.33 -2.60 -3.07 -3.80
Treasury stock, at cost -28.43 -28.44 -30.26 -30.59 -26.31 -28.00 -29.62 -31.16 -19.71 -21.43 -22.92 -18.67 -19.07 -12.48 -10.03 -4.36 -4.43 -0.01 -53.44 -55.90
Stockholders’ equity 68.64% 67.91% 67.00% 64.58% 63.21% 61.91% 59.76% 64.20% 63.94% 63.94% 62.80% 63.03% 58.99% 56.41% 55.65% 55.72% 51.90% 57.62% 57.21% 57.37%
Total liabilities and stockholders’ 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%

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The capital structure of the organization has undergone a significant transformation between March 2017 and December 2021, characterized by a systematic shift from liability-based financing to a stronger equity-based foundation. Total liabilities as a percentage of total liabilities and stockholders’ equity decreased from a peak of 48.10% in December 2017 to 31.36% by December 2021, indicating a consistent deleveraging trend over the analyzed period.

Debt and Liability Trends
A marked reduction in long-term debt is evident, falling from 17.74% in March 2017 to 7.01% in December 2021. This downward trajectory is mirrored in contingent consideration liabilities, which declined from 4.09% to 0.73% over the same timeframe. Current liabilities exhibited higher volatility early in the period, specifically peaking in December 2017 at 24.63% due to a temporary increase in short-term debt, before stabilizing between 11% and 13% from 2019 through 2021.
Equity Composition and Growth
Stockholders’ equity increased steadily from 57.37% in March 2017 to 68.64% in December 2021. This growth was primarily driven by a substantial increase in retained earnings, which rose from 34.45% in December 2017 to 71.37% by December 2021. Simultaneously, the company engaged in significant share repurchases, as evidenced by treasury stock increasing from -0.01% in September 2017 to -28.43% by December 2021, suggesting a strategy of returning value to shareholders while maintaining a strong equity base.
Other Financial Obligations
The emergence of a litigation settlement accrual is noted starting in December 2020 at 3.22%, which subsequently moderated to 2.25% by December 2021. Uncertain tax positions remained relatively stable throughout the period, fluctuating within a narrow range between 2.35% and 3.11%. Operating lease liabilities remained a marginal component of the total balance sheet, consistently staying below 1.1% across both current and long-term portions.

Overall, the financial data reflects a strategic transition toward a more conservative financial position. By reducing long-term debt and leveraging strong retained earnings, the organization has significantly improved its solvency profile and reduced its reliance on external borrowing to fund its operations and assets.

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