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General Dynamics Corp. (GD)

Common-Size Statement of Financial Position, Liabilities and Stockholders’ Equity

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General Dynamics Corp., Common-Size Consolidated Statement of Financial Position, Liabilities and Stockholders’ Equity

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Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Short-term debt and current portion of long-term debt 0.01 2.74 1.57 1.42 0.00
Accounts payable 9.15 7.72 6.14 5.82 6.34
Customer advances and deposits 19.95 15.02 17.73 20.75 18.57
Deferred income taxes 0.00 3.83 2.59 2.06 0.84
Salaries and wages 2.24 2.11 2.03 2.03 2.28
Fair value of cash flow hedges 0.51 1.58 2.44 0.83 0.00
Workers’ compensation 0.91 1.03 1.15 1.19 1.40
Retirement benefits 0.84 0.92 0.95 0.87 0.85
Other 3.76 4.12 4.30 3.93 4.11
Other current liabilities 8.27% 13.60% 13.46% 10.91% 9.48%
Current liabilities 37.38% 39.08% 38.89% 38.89% 34.40%
Long-term debt, excluding current portion 11.36 9.09 9.06 9.65 11.02
Retirement benefits 12.58 13.36 13.29 13.00 8.68
Customer deposits on commercial contracts 2.32 1.27 1.58 1.75 1.91
Deferred income taxes 0.70 0.22 0.23 0.23 0.39
Other 3.04 3.59 3.39 3.03 2.69
Other liabilities 18.64% 18.44% 18.49% 18.00% 13.67%
Noncurrent liabilities 29.99% 27.53% 27.55% 27.65% 24.69%
Total liabilities 67.37% 66.61% 66.44% 66.54% 59.09%
Common stock 1.38 1.47 1.51 1.36 1.36
Surplus 8.19 8.58 8.53 7.21 6.28
Retained earnings 75.46 76.74 72.52 59.76 54.81
Treasury stock -44.35 -43.06 -38.73 -26.58 -18.20
Accumulated other comprehensive loss -8.05 -10.33 -10.27 -8.29 -3.34
Shareholders’ equity 32.63% 33.39% 33.56% 33.46% 40.91%
Total liabilities and shareholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (filing date: 2018-02-12), 10-K (filing date: 2017-02-06), 10-K (filing date: 2016-02-08), 10-K (filing date: 2015-02-09), 10-K (filing date: 2014-02-07).

Item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. General Dynamics Corp.’s current liabilities as a percentage of total liabilities and shareholders’ equity increased from 2015 to 2016 but then declined significantly from 2016 to 2017.
Noncurrent liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. General Dynamics Corp.’s noncurrent liabilities as a percentage of total liabilities and shareholders’ equity declined from 2015 to 2016 but then increased from 2016 to 2017 exceeding 2015 level.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. General Dynamics Corp.’s total liabilities as a percentage of total liabilities and shareholders’ equity increased from 2015 to 2016 and from 2016 to 2017.
Shareholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. General Dynamics Corp.’s shareholders’ equity as a percentage of total liabilities and shareholders’ equity declined from 2015 to 2016 and from 2016 to 2017.