Name: HCA Healthcare Inc. (NYSE:HCA) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

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.

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HCA Healthcare Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Accounts payable	4,111)	3,535)	2,905)	2,577)	2,606)
Accrued salaries	1,912)	1,720)	1,775)	1,580)	1,369)
Professional liability risks	508)	477)	457)	466)	429)
Defined contribution benefit plans	549)	547)	528)	459)	67)
Right-of-use current operating lease obligations	392)	379)	350)	—)	—)
Taxes other than income	361)	343)	325)	308)	299)
Interest	353)	315)	368)	429)	406)
Government stimulus refund liability	79)	83)	—)	—)	—)
Other	1,080)	1,096)	904)	962)	782)
Other accrued expenses	3,322)	3,240)	2,932)	2,624)	1,983)
Long-term debt due within one year	237)	209)	145)	788)	200)
Current liabilities	9,582)	8,704)	7,757)	7,569)	6,158)
Long-term debt due after one year, less debt issuance costs and discounts	34,342)	30,795)	33,577)	32,033)	32,858)
Professional liability risks	1,514)	1,486)	1,370)	1,275)	1,198)
Right-of-use noncurrent operating lease obligations	1,755)	1,673)	1,499)	—)	—)
Income taxes and other liabilities	2,060)	1,940)	1,420)	1,248)	1,374)
Noncurrent liabilities	39,671)	35,894)	37,866)	34,556)	35,430)
Total liabilities	49,253)	44,598)	45,623)	42,125)	41,588)
Common stock $0.01 par	3)	3)	3)	3)	4)
Capital in excess of par value	—)	294)	—)	—)	—)
Accumulated other comprehensive loss	(404)	(502)	(460)	(381)	(278)
Retained earnings (deficit)	(532)	777)	(2,351)	(4,572)	(6,532)
Stockholders’ equity (deficit) attributable to HCA Healthcare, Inc.	(933)	572)	(2,808)	(4,950)	(6,806)
Noncontrolling interests	2,422)	2,320)	2,243)	2,032)	1,811)
Total stockholders’ equity (deficit)	1,489)	2,892)	(565)	(2,918)	(4,995)
Total liabilities and stockholders’ equity (deficit)	50,742)	47,490)	45,058)	39,207)	36,593)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

An analysis of the balance sheet liabilities and equity from 2017 to 2021 reveals a consistent expansion of the total liability profile and significant volatility within stockholders' equity. Total liabilities increased from 41,588 million US dollars in 2017 to 49,253 million US dollars in 2021, reflecting a growth in both short-term obligations and long-term debt.

Current Liabilities Trends: Current liabilities experienced a steady upward trajectory, rising from 6,158 million US dollars in 2017 to 9,582 million US dollars in 2021. This growth was primarily driven by a substantial increase in accounts payable, which grew from 2,606 million US dollars to 4,111 million US dollars over the period. Other accrued expenses also showed a consistent increase, rising from 1,983 million US dollars in 2017 to 3,322 million US dollars in 2021. Additionally, right-of-use current operating lease obligations appeared in 2019 at 350 million US dollars and remained relatively stable through 2021.
Noncurrent Liabilities and Debt Structure: Long-term debt remains the most significant component of the liability structure. Long-term debt due after one year fluctuated between a low of 30,795 million US dollars in 2020 and a high of 34,342 million US dollars in 2021. Noncurrent professional liability risks showed a gradual increase from 1,198 million US dollars in 2017 to 1,514 million US dollars in 2021. The introduction of noncurrent right-of-use operating lease obligations in 2019 (1,499 million US dollars) further contributed to the total noncurrent liabilities, which reached 39,671 million US dollars by the end of 2021.
Stockholders' Equity and Retained Earnings: The equity position is characterized by extreme volatility and periods of deficit. Total stockholders' equity was negative from 2017 through 2019, reaching a deficit of 4,995 million US dollars in 2017 and improving to a deficit of 565 million US dollars by 2019. A notable reversal occurred in 2020, where total stockholders' equity became positive at 2,892 million US dollars, coinciding with retained earnings shifting from a deficit to a positive balance of 777 million US dollars. However, by 2021, total stockholders' equity declined to 1,489 million US dollars, and retained earnings returned to a deficit of 532 million US dollars.
Overall Capital Structure Observations: The balance sheet indicates a high degree of leverage, with total liabilities significantly outweighing stockholders' equity throughout the analyzed period. The volatility in retained earnings and the recurring deficits in equity attributable to HCA Healthcare, Inc. suggest a capital structure that may be heavily influenced by treasury stock activity or significant debt-funded financing. The overall total liabilities and stockholders' equity grew from 36,593 million US dollars in 2017 to 50,742 million US dollars in 2021.

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