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Hubbell Inc. (NYSE:HUBB)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Hubbell Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Short-term debt and current portion of long-term debt 0.09 0.18 3.01 1.33 1.15
Accounts payable 9.81 10.09 7.43 7.09 8.08
Accrued salaries, wages and employee benefits 2.67 1.79 1.80 2.07 2.09
Accrued insurance 1.40 1.39 1.41 1.39 1.26
Customer program incentives 1.63 1.27 0.80 1.00 1.08
Accrued income taxes 0.08 0.09 0.09 0.12 0.07
Contract liabilities, deferred revenue 0.85 0.32 0.61 0.63 0.57
Customer refund liability 0.27 0.32 0.34 0.39 0.31
Accrued warranties 0.37 0.69 0.56 0.49 0.69
Current operating lease liabilities 0.56 0.51 0.63 0.60 0.00
Other 2.42 1.78 1.96 2.11 1.94
Other accrued liabilities 6.18% 4.99% 4.99% 5.35% 4.65%
Liabilities held for sale, current 0.00 1.73 0.00 0.00 0.00
Current liabilities 20.15% 20.17% 18.65% 17.23% 17.23%
Long-term debt, excluding current portion 26.61 27.18 28.26 30.72 35.65
Pensions 2.87 3.59 3.91 4.05 3.63
Other post-employment benefits 0.26 0.32 0.42 0.44 0.49
Deferred tax liabilities 2.11 2.17 2.66 2.59 2.46
Accrued warranties long-term 0.48 0.56 1.02 1.18 1.22
Non-current operating lease liabilities 1.57 1.10 1.47 1.46 0.00
Other 2.06 2.12 2.60 2.35 2.40
Other non-current liabilities 9.36% 9.87% 12.09% 12.07% 10.20%
Liabilities held for sale, non-current 0.00 0.36 0.00 0.00 0.00
Non-current liabilities 35.97% 37.41% 40.34% 42.78% 45.85%
Total liabilities 56.12% 57.57% 58.99% 60.01% 63.08%
Common stock, par value $0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 0.00 0.00 0.10 0.00 0.03
Retained earnings 50.08 48.47 47.07 46.49 42.37
Accumulated other comprehensive loss -6.39 -6.26 -6.47 -6.79 -5.86
Total Hubbell Incorporated shareholders’ equity 43.70% 42.22% 40.71% 39.71% 36.55%
Noncontrolling interest 0.18 0.21 0.30 0.27 0.38
Total equity 43.88% 42.43% 41.01% 39.99% 36.92%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2022-12-31), 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).

The capital structure of Hubbell Inc. has undergone a consistent deleveraging process between 2018 and 2022. Total liabilities as a percentage of total liabilities and equity declined from 63.08% to 56.12%, while total equity increased from 36.92% to 43.88% over the same period.

Long-Term Debt and Non-Current Liabilities
A significant reduction in long-term debt is observed, falling from 35.65% in 2018 to 26.61% in 2022. This contraction contributed to a broader decrease in non-current liabilities, which dropped from 45.85% to 35.97%. Pension liabilities also exhibited a downward trend, decreasing from 3.63% to 2.87%.
Current Liabilities and Operational Obligations
Current liabilities increased from 17.23% in 2018 to 20.15% in 2022. This upward trend is primarily attributed to growth in accounts payable, which rose from 8.08% to 9.81%, and other accrued liabilities, which increased from 4.65% to 6.18%. In contrast, short-term debt and the current portion of long-term debt were nearly eliminated, decreasing from 1.15% in 2018 to 0.09% by 2022.
Shareholders' Equity and Internal Funding
The increase in total equity is driven predominantly by the growth of retained earnings, which rose steadily from 42.37% in 2018 to 50.08% in 2022. Accumulated other comprehensive loss remained relatively stable, fluctuating within a narrow range between -5.86% and -6.79%.

The analysis indicates a strategic transition toward a more conservative financial position. The organization has reduced its reliance on external debt—both short-term and long-term—while strengthening its balance sheet through the accumulation of retained earnings.

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