Stock Analysis on Net

General Dynamics Corp. (NYSE:GD)

$22.49

This company has been moved to the archive! The financial data has not been updated since October 28, 2020.

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

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

Microsoft Excel
Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 31, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jul 1, 2018 Apr 1, 2018 Dec 31, 2017 Oct 1, 2017 Jul 2, 2017 Apr 2, 2017 Dec 31, 2016 Oct 2, 2016 Jul 3, 2016 Apr 3, 2016 Dec 31, 2015 Oct 4, 2015 Jul 5, 2015 Apr 5, 2015
Short-term debt and current portion of long-term debt
Accounts payable
Customer advances and deposits
Other current liabilities
Current liabilities
Long-term debt, excluding current portion
Other liabilities
Noncurrent liabilities
Total liabilities
Common stock
Surplus
Retained earnings
Treasury stock
Accumulated other comprehensive loss
Shareholders’ equity
Total liabilities and shareholders’ equity

Based on: 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-29), 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: 2018-07-01), 10-Q (reporting date: 2018-04-01), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-10-01), 10-Q (reporting date: 2017-07-02), 10-Q (reporting date: 2017-04-02), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-10-02), 10-Q (reporting date: 2016-07-03), 10-Q (reporting date: 2016-04-03), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-10-04), 10-Q (reporting date: 2015-07-05), 10-Q (reporting date: 2015-04-05).


Short-term debt and current portion of long-term debt
This item exhibited notable fluctuations, generally maintaining low levels under 3% for much of the earlier periods but rising sharply in 2018 and 2019 with peaks above 10%, before declining again towards the end of the observed timeline. This suggests intermittent increased reliance on short-term borrowings within total liabilities and equity.
Accounts payable
Accounts payable remained relatively stable over the period, fluctuating modestly mostly between 5% and 9%. Although there was a slight downward trend toward the later periods, no abrupt changes were observed, indicating consistent management of payables relative to total liabilities and equity.
Customer advances and deposits
A declining trend is evident in customer advances and deposits, starting above 18% and gradually decreasing to near 12% by the end of the period. Occasional short-term increases occurred, but the overall decline may reflect changes in customer financing arrangements or contract structures.
Other current liabilities
Other current liabilities declined significantly from above 12% at the beginning to near 7-8% in the later periods, indicating a reduction in miscellaneous current obligations relative to total liabilities and equity.
Current liabilities
Current liabilities fluctuated moderately around the high 30% range, peaking close to 40% in certain quarters before trending downwards toward low 30% figures by late 2020. This suggests some variability but an overall modest reduction in current liabilities as a proportion of total liabilities and equity.
Long-term debt, excluding current portion
Long-term debt showed variability, with a pronounced increase in 2018 reaching above 24%, before partially declining to levels near 20% towards the end. This pattern indicates periods of increased long-term borrowings followed by some deleveraging.
Other liabilities
This category remained relatively stable between approximately 15% and 19%, with minor fluctuations over time. No clear trend emerges, suggesting steady levels of other noncurrent obligations.
Noncurrent liabilities
Noncurrent liabilities reflected a noticeable increase from around 27% in early years to above 40% in 2018 and into 2019, followed by a slight decline thereafter. This indicates a significant growth in long-term obligations over this timeframe.
Total liabilities
Total liabilities consistently represented the majority of the capital structure, fluctuating mostly between 66% and 75%, with peaks occurring in 2018 and again in early 2020. The upward drift in liabilities proportion suggests increased leverage during these periods.
Common stock
The proportion of common stock gradually decreased from around 1.5% to below 1% by 2020, indicating a relative reduction in common stock as a part of total liabilities and equity base.
Surplus
Surplus showed a declining trend, beginning around 8.5% and decreasing to near 6% by 2020, suggesting a contraction in retained earnings or additional paid-in capital components.
Retained earnings
Retained earnings peaked broadly between 72% and 76% in the 2015-2017 period, but then declined sharply to near 60% by 2018 before stabilizing in the low 60% range thereafter. This denotes some erosion of accumulated profits relative to total capital.
Treasury stock
Treasury stock, expressed as a negative proportion, expanded from nearly -29% to over -44% during earlier years, before partially receding to approximately -35% towards the end of the period. This indicates variations in stock repurchase activity or accounting adjustments to treasury shares.
Accumulated other comprehensive loss
This loss remained fairly consistent, fluctuating mostly between -7% and -10%, without any marked trend. The relative steadiness suggests stable unrealized losses or other comprehensive loss items.
Shareholders’ equity
Shareholders’ equity as a percentage of total capital declined from approximately 33.5% to a low near 25% in 2018, with partial recovery to around 29% subsequently. This decline corresponds with the increase in liabilities and changes in retained earnings, reflecting a shift in capital structure towards higher leverage.