Stock Analysis on Net
Stock Analysis on Net

Hubbell Inc. (NYSE:HUBB)

$22.49

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

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

US$ in thousands

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
Accounts payable
Accrued salaries, wages and employee benefits
Accrued insurance
Customer program incentives
Accrued income taxes
Contract liabilities, deferred revenue
Customer refund liability
Accrued warranties
Current operating lease liabilities
Other
Other accrued liabilities
Liabilities held for sale, current
Current liabilities
Long-term debt, excluding current portion
Pensions
Other post-employment benefits
Deferred tax liabilities
Accrued warranties long-term
Non-current operating lease liabilities
Other
Other non-current liabilities
Liabilities held for sale, non-current
Non-current liabilities
Total liabilities
Common stock, par value $0.01
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Total Hubbell Incorporated shareholders’ equity
Noncontrolling interest
Total equity
Total liabilities and equity

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).

Short-term debt and current portion of long-term debt
This liability exhibited a sharp increase from 2018 to 2020, reaching a peak at 153,100 thousand USD, followed by a significant decrease in the subsequent years to 4,700 thousand USD by 2022, indicating a strategic reduction in short-term borrowings.
Accounts payable
Accounts payable showed variability but generally increased over the period, rising from 393,700 thousand USD in 2018 to a high of 532,800 thousand USD in 2021, before slightly decreasing to 529,900 thousand USD in 2022. This suggests growing trade liabilities and supplier credit usage.
Accrued salaries, wages, and employee benefits
These accrued expenses remained relatively stable from 2018 to 2021, fluctuating around 90,000 to 100,000 thousand USD, but experienced a noticeable rise to 144,200 thousand USD in 2022, which may reflect increased employee costs or changes in payroll timing.
Accrued insurance
Accrued insurance amounts steadily increased over the period, moving from 61,300 thousand USD in 2018 to 75,600 thousand USD in 2022, showing a consistent rise in insurance-related liabilities.
Customer program incentives
Customer incentives decreased between 2018 and 2020, dropping from 52,400 to 40,700 thousand USD, but then increased significantly in 2021 and 2022 to 87,800 thousand USD, suggesting a strategic intensification in marketing or promotional programs during the later years.
Accrued income taxes
These liabilities remained relatively low and stable over the period, with minor fluctuations around 3,400 to 6,000 thousand USD, indicating consistent tax obligations.
Contract liabilities, deferred revenue
Contract liabilities fluctuated during the years, increasing from 27,700 thousand USD in 2018 to a low in 2021 at 16,700 thousand USD, then rising again sharply to 45,800 thousand USD in 2022, indicating changes in deferred revenue recognition patterns.
Customer refund liability
This liability stayed fairly stable, with a minor decline from 15,300 thousand USD in 2018 to 14,800 thousand USD in 2022, reflecting consistent customer refund expectations.
Accrued warranties
Accrued warranties exhibited variability, dropping from 33,500 thousand USD in 2018 to a low of 20,200 thousand USD in 2022, after peaking at 36,700 thousand USD in 2021, which may suggest changes in warranty claim expectations or product quality trends.
Current operating lease liabilities
Data for this item is missing for 2018 but it showed fluctuations from 29,600 thousand USD in 2019 to 30,500 thousand USD in 2022, with a dip in 2021, reflecting some changes in lease commitments.
Other current accrued liabilities
Other accrued liabilities generally increased over the period, rising from 226,600 thousand USD in 2018 to 334,100 thousand USD in 2022, indicating growth in miscellaneous current obligations.
Liabilities held for sale, current
Reported only in 2021 at 91,300 thousand USD and absent in other years, indicating a one-time classification related to assets or operations held for sale.
Current liabilities
Overall, current liabilities increased steadily from 839,300 thousand USD in 2018 to 1,088,500 thousand USD in 2022, reflecting greater short-term obligations.
Long-term debt, excluding current portion
Long-term debt showed a declining trend from 1,737,100 thousand USD in 2018 to approximately 1,438,900 thousand USD in 2022, evidencing a reduction in long-term borrowing or debt repayment activities.
Pensions and other post-employment benefits
Both pensions and other post-employment benefits liabilities decreased over time, with pensions dropping from 177,000 to 155,300 thousand USD and other benefits falling from 23,700 to 14,300 thousand USD, indicating possible funding or actuarial changes.
Deferred tax liabilities
Deferred tax liabilities increased from 120,000 thousand USD in 2018 to 135,300 thousand USD in 2020, before declining to 113,800 thousand USD in 2022, showing some volatility in tax timing differences.
Accrued warranties long-term
Long-term accrued warranties steadily declined from 59,200 thousand USD in 2018 to 26,000 thousand USD in 2022, suggesting reduced future warranty liabilities.
Non-current operating lease liabilities
This liability was first reported in 2019 and fluctuated over subsequent years, increasing to 84,900 thousand USD in 2022 after a dip in 2021, indicating lease obligation variability.
Other non-current liabilities
Other non-current liabilities peaked in 2020 at 614,600 thousand USD, then declined to 505,600 thousand USD by 2022, showing some reduction in long-term obligations outside of debt and pensions.
Liabilities held for sale, non-current
Only recorded in 2021 at 18,800 thousand USD, indicating a specific non-current asset or operation considered held for sale that year.
Non-current liabilities
Non-current liabilities decreased steadily from 2,233,900 thousand USD in 2018 to 1,943,500 thousand USD in 2022, reflecting overall long-term liability reduction.
Total liabilities
Total liabilities demonstrated minor fluctuations but remained in a relatively narrow range between approximately 2,942,500 thousand USD and 3,042,800 thousand USD, with a slight overall decline by 2022.
Common stock and additional paid-in capital
Common stock remained constant at 600 thousand USD. Additional paid-in capital showed irregular reporting with values only present in some years, indicating possible capital transactions or reporting inconsistencies.
Retained earnings
Retained earnings displayed a steady increasing trend from 2,064,400 thousand USD in 2018 to 2,705,500 thousand USD in 2022, evidencing accumulation of profits.
Accumulated other comprehensive loss
This component of equity worsened gradually, increasing in negative balance from -285,700 thousand USD in 2018 to -345,200 thousand USD in 2022, indicating growing unrealized losses or other comprehensive loss items.
Total shareholders’ equity
Equity increased consistently from 1,780,600 thousand USD in 2018 to 2,360,900 thousand USD in 2022, reflecting overall growth in company net worth despite the increasing comprehensive loss.
Noncontrolling interest
Noncontrolling interest decreased from 18,300 thousand USD in 2018 to 9,700 thousand USD in 2022, suggesting reduced minority interest holdings.
Total equity
Total equity rose steadily from 1,798,900 thousand USD in 2018 to 2,370,600 thousand USD in 2022, aligning with the trend in shareholders’ equity growth.
Total liabilities and equity
The combined total of liabilities and equity increased gradually from 4,872,100 thousand USD in 2018 to 5,402,600 thousand USD in 2022, indicating overall expansion of the company’s balance sheet.