Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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GE Aerospace, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 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: 2022-06-30), 10-Q (reporting date: 2022-03-31), 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).
The composition of liabilities and stockholders’ equity exhibited notable shifts over the observed period, from March 2021 to December 2025. Overall, a dynamic pattern emerges, with fluctuations in various liability accounts and a significant restructuring of equity components, particularly common stock held in treasury and retained earnings.
- Current Liabilities
- Current liabilities, as a percentage of total liabilities and equity, generally increased from 23.53% in March 2021 to a peak of 31.20% in December 2023, before decreasing to 29.95% by December 2025. Accounts payable consistently represented the largest component of current liabilities, ranging from approximately 6.56% to 10.08% of the total. A substantial increase in progress collections and current deferred income (legacy) was observed from 7.34% in March 2021 to 12.07% in December 2023, followed by a decline to a non-existent value as of June 2024. All other current liabilities also showed an increasing trend until December 2023, then decreased, suggesting a potential shift in short-term operational financing needs.
- Non-Current Liabilities
- Non-current liabilities demonstrated a decreasing trend from 62.13% in March 2021 to 49.66% in December 2022, before stabilizing around 55-56% through December 2025. Long-term borrowings contributed significantly to this category, fluctuating between 14.86% and 27.28%. Insurance liabilities and annuity benefits consistently represented a substantial portion, increasing from 16.14% to a peak of 24.30% in December 2023, then decreasing slightly to 28.34% by December 2025. Non-current compensation and benefits also showed a gradual decline over the period.
- Total Liabilities
- Total liabilities initially comprised 85.66% of the total in March 2021, decreasing to a low of 79.08% in December 2021, then fluctuating between approximately 80% and 85% throughout the remainder of the period. This indicates a relative shift in the capital structure, with equity becoming a larger proportion of the total.
- Shareholders’ Equity
- Shareholders’ equity increased as a percentage of total liabilities and equity from 13.70% in March 2021 to a peak of 20.98% in December 2022, before decreasing to 14.35% by December 2025. This movement was largely driven by significant changes in common stock held in treasury, which decreased substantially from -33.26% in March 2021 to -67.45% in December 2025. Retained earnings exhibited a consistent upward trend until December 2023, reaching 54.27%, then decreased to 67.35% by December 2025. Accumulated other comprehensive income (loss) remained negative throughout the period, with fluctuations between -3.63% and -2.14%. Other capital remained relatively stable, fluctuating between 13.89% and 20.52%.
- Specific Liability Accounts
- Short-term borrowings decreased consistently from 1.82% in March 2021 to 0.77% in December 2023, then showed some volatility, reaching 1.30% in September 2025. The liabilities of businesses held for sale decreased from 2.04% to 0.05% by June 2024, and remained minimal thereafter. Deferred income remained relatively stable, fluctuating around 0.7-1.0%.
In summary, the observed period reflects a dynamic shift in the company’s financial structure. The reduction in common stock held in treasury, coupled with changes in retained earnings, significantly impacted the equity position. The fluctuations in current and non-current liabilities suggest adjustments in financing strategies and operational needs. The overall trend indicates a potential move towards a more equity-financed capital structure, although this is partially offset by the substantial decrease in common stock held in treasury.