Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Fair Isaac Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Accounts payable	22,473)	19,009)	17,273)	20,749)	23,033)	23,118)
Accrued compensation and employee benefits	106,103)	102,471)	97,893)	103,506)	117,952)	106,240)
Interest payable	21,663)	20,770)	21,314)	12,241)	—)	—)
Current finance lease liabilities	3,144)	—)	—)	—)	2,186)	1,935)
Other	55,005)	38,708)	44,934)	67,294)	61,181)	30,519)
Other accrued liabilities	79,812)	59,478)	66,248)	79,535)	63,367)	32,454)
Deferred revenue	156,897)	136,730)	120,045)	105,417)	115,159)	111,016)
Current maturities on debt	15,000)	50,000)	30,000)	250,000)	95,000)	218,000)
Current liabilities	380,285)	367,688)	331,459)	559,207)	414,511)	490,828)
Long-term debt, excluding current maturities	2,194,021)	1,811,658)	1,823,669)	1,009,018)	739,435)	606,790)
Non-current operating lease liabilities	21,963)	23,903)	39,192)	53,670)	73,207)	—)
Non-current finance lease liabilities	7,263)	—)	—)	—)	3,076)	3,489)
Other liabilities	77,031)	60,022)	49,661)	56,823)	44,929)	42,574)
Non-current liabilities	2,300,278)	1,895,583)	1,912,522)	1,119,511)	860,647)	652,853)
Total liabilities	2,680,563)	2,263,271)	2,243,981)	1,678,718)	1,275,158)	1,143,681)
Preferred stock, $0.01 par value; none issued and outstanding	—)	—)	—)	—)	—)	—)
Common stock, $0.01 par value	244)	248)	252)	276)	291)	289)
Additional paid-in-capital	1,366,572)	1,350,713)	1,299,588)	1,237,348)	1,218,583)	1,225,365)
Treasury stock, at cost	(6,138,736)	(5,324,865)	(4,935,769)	(3,857,855)	(2,997,856)	(2,802,450)
Retained earnings	3,900,870)	3,388,059)	2,958,684)	2,585,143)	2,193,059)	1,956,648)
Accumulated other comprehensive loss	(91,629)	(102,145)	(124,702)	(75,854)	(82,995)	(90,085)
Stockholders’ equity (deficit)	(962,679)	(687,990)	(801,947)	(110,942)	331,082)	289,767)
Total liabilities and stockholders’ equity (deficit)	1,717,884)	1,575,281)	1,442,034)	1,567,776)	1,606,240)	1,433,448)

Based on: 10-K (reporting date: 2024-09-30), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30).

Liabilities Overview

Total liabilities have shown a consistent upward trend from approximately $1.14 billion in 2019 to about $2.68 billion in 2024, indicating a significant increase in the company's obligations over the analyzed period.

Current liabilities have fluctuated, peaking at $559 million in 2021, then declining to around $380 million by 2024. This suggests some variability in short-term obligations, with a general reduction after 2021.

Non-current liabilities have increased markedly, from approximately $653 million in 2019 to over $2.3 billion by 2024. This steep rise reflects a notable increase in long-term financial commitments, particularly in long-term debt which expanded from roughly $607 million to $2.19 billion.

Current Liability Components

Accounts payable decreased from $23.1 million in 2019 to a low of about $17.3 million in 2022, before rebounding to $22.5 million in 2024, indicating some variability in vendor payment obligations.

Accrued compensation and employee benefits showed minor fluctuations but remained relatively stable between $97.9 million and $117.9 million across the years, showing consistent labor-related liabilities.

Interest payable appeared starting 2021, increasing from $12.2 million to approximately $21.7 million by 2024, suggesting rising interest obligations, likely correlated with increasing debt levels.

Current finance lease liabilities show irregular data with presence in 2019, 2020, and 2024, indicating inconsistent leasing obligations or reporting changes.

Deferred revenue exhibits a clear increasing trend from $111 million in 2019 to $157 million in 2024, demonstrating growth in prepayments or unearned income.

Current maturities on debt fluctuated considerably, peaking at $250 million in 2021 and reducing sharply to $15 million by 2024, which could indicate refinancing or debt maturity management.

Non-current Liability Components

Long-term debt, excluding current maturities, increased significantly from $606 million to over $2.19 billion, representing the largest contributor to non-current liabilities' growth.

Non-current operating lease liabilities decreased steadily from $73.2 million in 2020 to $22 million in 2024, reflecting potential lease terminations or reclassifications.

Non-current finance lease liabilities data is sparse but show a presence in 2019, 2020, and 2024 with some variation indicating changes in financing lease obligations.

Other non-current liabilities rose from about $42.6 million to $77 million, marking moderate growth in miscellaneous long-term obligations.

Stockholders' Equity and Related Accounts

Common stock values remained relatively stable and low, around $244 thousand, indicating no significant issuance or repurchase affecting par value.

Additional paid-in capital showed incremental growth from about $1.23 billion to $1.37 billion, reflecting additional contributions or possibly stock-based compensation.

Treasury stock, recorded at cost, increased substantially from negative $2.8 billion to nearly negative $6.1 billion, indicating extensive repurchase or retirement of shares over the period.

Retained earnings demonstrated consistent growth from $1.96 billion to $3.9 billion, highlighting accumulation of net income or undistributed profits despite the treasury stock increase.

Accumulated other comprehensive loss fluctuated with a peak negative balance of approximately $124.7 million in 2022, improving slightly to about $91.6 million loss by 2024, showing some volatility in other comprehensive income components.

Stockholders’ equity transitioned from a positive balance of about $290 million in 2019 to negative equity of approximately $963 million in 2024, driven primarily by the large treasury stock balance exceeding retained earnings and paid-in capital.

Overall Financial Position

Total liabilities and stockholders’ equity (deficit) decreased from $1.43 billion in 2019 to $1.57 billion in 2023, then increased to $1.72 billion in 2024. Despite the overall asset base growth, the presence of a large negative equity balance indicates significant capitalization challenges.

The company's leveraging has increased substantially, with long-term debt nearly quadrupling, interest obligations rising, and negative equity reinforcing a highly leveraged capital structure.

The growing deferred revenue and accrued liabilities underline expanding operational scale, while the large increase in treasury stock suggests aggressive share repurchases or accounting impacts affecting equity valuation.

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Fair Isaac Corp. (NYSE:FICO)

Balance Sheet: Liabilities and Stockholders’ Equity