Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Hershey Co. (NYSE:HSY)

This company has been moved to the archive! The financial data has not been updated since July 27, 2023.

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

Hershey Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jul 2, 2023 Apr 2, 2023 Dec 31, 2022 Oct 2, 2022 Jul 3, 2022 Apr 3, 2022 Dec 31, 2021 Oct 3, 2021 Jul 4, 2021 Apr 4, 2021 Dec 31, 2020 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
Accounts payable 8.80 9.04 8.86 8.45 8.27 7.75 6.65 7.12 6.93 6.13 6.35 6.37 5.95 6.01 6.77 6.54 6.16 6.37 6.52 7.42 6.71 7.09
Accrued liabilities 7.19 7.02 7.60 7.80 6.96 7.37 8.22 7.97 7.97 7.93 8.56 7.90 7.23 7.60 8.63 8.58 8.35 8.28 8.82 8.47 8.58 8.51
Accrued income taxes 0.14 1.22 0.06 0.75 0.19 0.75 0.03 0.74 0.59 0.94 0.19 0.80 0.61 0.69 0.24 0.88 0.21 0.95 0.44 0.78 0.41 0.17
Short-term debt 7.46 5.43 6.34 7.33 8.64 8.21 9.02 4.35 2.34 0.71 0.81 0.49 2.23 9.46 0.40 15.07 11.38 14.87 15.55 18.49 14.14 30.64
Current portion of long-term debt 0.07 6.82 6.88 6.94 7.11 0.02 0.03 0.03 0.04 3.92 4.81 8.52 8.85 8.91 8.64 4.17 4.53 0.05 0.07 0.04 4.11 4.13
Current liabilities 23.65% 29.53% 29.75% 31.28% 31.17% 24.10% 23.95% 20.20% 17.86% 19.63% 20.72% 24.08% 24.85% 32.67% 24.68% 35.23% 30.63% 30.52% 31.40% 35.21% 33.95% 50.53%
Long-term portion of long-term debt 35.45 30.07 30.54 30.84 31.55 38.41 39.25 43.38 46.10 45.30 44.79 44.23 45.91 39.00 43.37 34.17 37.06 41.19 42.25 41.52 43.88 28.09
Other long-term liabilities 6.20 6.41 6.57 6.93 7.22 7.34 7.56 6.78 7.56 7.45 7.48 7.06 7.23 7.20 8.06 7.42 8.17 7.87 5.79 5.48 5.90 5.93
Deferred income taxes 2.64 2.86 3.00 2.49 2.75 2.77 2.77 2.76 2.88 2.55 2.51 2.28 2.30 2.23 2.46 2.36 2.53 2.31 2.30 1.85 1.91 1.94
Long-term liabilities 44.29% 39.34% 40.12% 40.26% 41.52% 48.51% 49.57% 52.92% 56.54% 55.31% 54.78% 53.57% 55.44% 48.42% 53.89% 43.95% 47.76% 51.36% 50.33% 48.85% 51.68% 35.97%
Total liabilities 67.94% 68.88% 69.86% 71.54% 72.69% 72.61% 73.52% 73.12% 74.40% 74.94% 75.49% 77.65% 80.29% 81.09% 78.56% 79.19% 78.39% 81.89% 81.73% 84.06% 85.64% 86.50%
Preferred stock, shares issued: none 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock 1.45 1.48 1.49 1.51 1.54 1.52 1.55 1.71 1.81 1.78 1.76 1.74 1.81 1.82 1.98 3.54 3.84 3.81 3.89 3.82 4.04 4.08
Class B common stock 0.47 0.51 0.53 0.54 0.55 0.56 0.58 0.64 0.68 0.67 0.66 0.65 0.68 0.68 0.74 0.72 0.78 0.77 0.79 0.77 0.82 0.83
Additional paid-in capital 11.29 11.57 11.84 11.82 11.88 11.68 12.10 13.14 13.72 13.23 13.04 12.64 13.04 13.02 14.03 13.36 13.80 12.68 12.75 12.22 12.69 12.63
Retained earnings 36.19 35.73 32.79 31.40 30.30 28.85 26.12 27.18 25.91 23.93 21.12 19.45 17.02 15.86 15.85 88.91 94.41 91.55 91.29 87.33 90.84 90.47
Treasury, common stock shares, at cost -15.43 -16.03 -14.21 -14.07 -14.43 -12.95 -11.48 -12.72 -13.29 -11.01 -8.42 -8.35 -8.74 -8.38 -7.26 -81.98 -87.01 -86.37 -85.92 -84.10 -89.25 -89.92
Accumulated other comprehensive loss -1.92 -2.14 -2.30 -2.73 -2.53 -2.27 -2.39 -3.16 -3.33 -3.64 -3.70 -3.81 -4.12 -4.13 -3.98 -3.83 -4.32 -4.44 -4.63 -4.29 -4.97 -4.83
Total The Hershey Company stockholders’ equity 32.06% 31.12% 30.14% 28.46% 27.31% 27.39% 26.48% 26.79% 25.50% 24.96% 24.47% 22.32% 19.68% 18.87% 21.37% 20.71% 21.49% 18.01% 18.16% 15.76% 14.18% 13.26%
Noncontrolling interest in subsidiary 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.09 0.10 0.10 0.04 0.03 0.03 0.04 0.07 0.10 0.11 0.11 0.11 0.18 0.19 0.24
Total stockholders’ equity 32.06% 31.12% 30.14% 28.46% 27.31% 27.39% 26.48% 26.88% 25.60% 25.06% 24.51% 22.35% 19.71% 18.91% 21.44% 20.81% 21.61% 18.11% 18.27% 15.94% 14.36% 13.50%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04), 10-K (reporting date: 2020-12-31), 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).

The capital structure exhibits a significant shift toward a more equity-heavy composition over the analyzed period. Total liabilities decreased from 86.50% of total liabilities and stockholders’ equity in April 2018 to 67.94% by July 2023. Conversely, total stockholders’ equity demonstrated a consistent upward trajectory, growing from 13.50% in April 2018 to 32.06% in July 2023, indicating a reduction in financial leverage and an increase in the company's internal funding base.

Liabilities Trend and Composition
Current liabilities showed significant volatility and a general downward trend, starting at 50.53% in April 2018 and ending at 23.65% in July 2023. A notable decline is observed in short-term debt, which fell from a peak of 30.64% in early 2018 to fluctuate between 0.40% and 9.46% for the remainder of the period. Long-term liabilities remained the primary component of the debt profile, peaking at 56.54% in July 2021 before moderating to 44.29% by July 2023. Long-term debt specifically showed a gradual reduction from its peak levels in 2021, contributing to the overall deleveraging of the balance sheet.
Stockholders' Equity Dynamics
The equity section underwent a substantial structural change around the end of 2019. Retained earnings, which previously represented a high percentage of the total balance sheet (peaking at 94.41% in June 2019), dropped to 15.85% by December 2019, coinciding with a sharp reduction in the negative impact of treasury stock (from -87.01% to -7.26%). Following this adjustment, retained earnings entered a steady growth phase, climbing to 36.19% by July 2023. This trend suggests a sustained accumulation of earnings over the latter half of the period.
Operational Liabilities
Accounts payable remained relatively stable for several years before trending upward starting in 2022, rising from 6.65% in December 2021 to 8.80% in July 2023. Accrued liabilities followed an opposing path, generally declining from 8.51% in April 2018 to 7.19% in July 2023. These shifts indicate a change in the timing of payments to suppliers relative to other accrued operational obligations.

Overall, the transition from a high-leverage position to a more balanced capital structure is evident. The steady increase in total stockholders' equity, coupled with the reduction in total liabilities, suggests a strengthening of the financial position and a reduced reliance on external debt to fund assets.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?