Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

Hubbell Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019	Dec 31, 2018	Sep 30, 2018	Jun 30, 2018	Mar 31, 2018
Short-term debt and current portion of long-term debt	3,300)	1,800)	4,700)	4,700)	4,000)	5,800)	7,800)	9,700)	128,900)	137,600)	360,800)	153,100)	21,900)	145,200)	106,700)	65,400)	35,900)	54,200)	77,300)	56,100)	130,300)	91,100)	177,500)
Accounts payable	554,700)	554,800)	545,300)	529,900)	569,900)	550,700)	548,500)	532,800)	491,900)	465,700)	421,300)	378,000)	387,600)	354,400)	358,400)	347,700)	414,700)	428,700)	403,700)	393,700)	420,700)	420,800)	374,500)
Accrued salaries, wages and employee benefits	129,000)	117,200)	69,100)	144,200)	107,900)	91,700)	62,000)	94,700)	81,900)	79,000)	63,900)	91,500)	78,800)	66,600)	65,900)	101,500)	92,800)	73,100)	68,600)	101,600)	110,000)	81,100)	71,000)
Accrued insurance	80,800)	78,900)	84,700)	75,600)	74,500)	73,000)	78,200)	73,300)	77,100)	76,400)	77,800)	71,600)	72,200)	76,900)	78,000)	68,100)	70,200)	69,600)	70,000)	61,300)	62,900)	65,700)	64,600)
Other accrued liabilities	303,600)	317,100)	348,300)	334,100)	306,200)	281,700)	265,600)	263,400)	255,600)	240,700)	224,900)	254,000)	232,200)	237,600)	232,300)	262,200)	252,600)	248,500)	228,300)	226,600)	214,100)	212,700)	210,900)
Liabilities held for sale, current	—)	—)	—)	—)	—)	—)	—)	91,300)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Current liabilities	1,071,400)	1,069,800)	1,052,100)	1,088,500)	1,062,500)	1,002,900)	962,100)	1,065,200)	1,035,400)	999,400)	1,148,700)	948,200)	792,700)	880,700)	841,300)	844,900)	866,200)	874,100)	847,900)	839,300)	938,000)	871,400)	898,500)
Long-term debt, excluding current portion	1,439,700)	1,439,100)	1,438,500)	1,437,900)	1,437,300)	1,436,700)	1,436,100)	1,435,500)	1,434,900)	1,434,200)	1,433,700)	1,436,900)	1,436,300)	1,610,400)	1,597,300)	1,506,000)	1,714,100)	1,722,800)	1,731,500)	1,737,100)	1,792,500)	1,897,600)	1,903,200)
Other non-current liabilities	506,700)	500,900)	507,100)	505,600)	508,400)	530,700)	547,100)	521,300)	593,300)	598,300)	612,500)	614,600)	617,100)	594,100)	592,000)	591,600)	578,400)	584,100)	569,800)	496,800)	495,200)	500,300)	495,200)
Liabilities held for sale, non-current	—)	—)	—)	—)	—)	—)	—)	18,800)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Non-current liabilities	1,946,400)	1,940,000)	1,945,600)	1,943,500)	1,945,700)	1,967,400)	1,983,200)	1,975,600)	2,028,200)	2,032,500)	2,046,200)	2,051,500)	2,053,400)	2,204,500)	2,189,300)	2,097,600)	2,292,500)	2,306,900)	2,301,300)	2,233,900)	2,287,700)	2,397,900)	2,398,400)
Total liabilities	3,017,800)	3,009,800)	2,997,700)	3,032,000)	3,008,200)	2,970,300)	2,945,300)	3,040,800)	3,063,600)	3,031,900)	3,194,900)	2,999,700)	2,846,100)	3,085,200)	3,030,600)	2,942,500)	3,158,700)	3,181,000)	3,149,200)	3,073,200)	3,225,700)	3,269,300)	3,296,900)
Total Hubbell Incorporated shareholders’ equity	2,739,100)	2,620,700)	2,472,700)	2,360,900)	2,318,700)	2,256,900)	2,213,300)	2,229,800)	2,168,800)	2,125,700)	2,082,700)	2,070,000)	2,016,800)	1,959,900)	1,914,900)	1,947,100)	1,903,100)	1,835,900)	1,808,100)	1,780,600)	1,754,800)	1,684,900)	1,662,000)
Noncontrolling interest	11,400)	10,400)	10,400)	9,700)	11,500)	11,000)	11,100)	10,900)	9,300)	15,200)	15,300)	15,400)	14,200)	13,600)	13,600)	13,400)	12,500)	19,100)	18,800)	18,300)	17,000)	16,900)	16,500)
Total equity	2,750,500)	2,631,100)	2,483,100)	2,370,600)	2,330,200)	2,267,900)	2,224,400)	2,240,700)	2,178,100)	2,140,900)	2,098,000)	2,085,400)	2,031,000)	1,973,500)	1,928,500)	1,960,500)	1,915,600)	1,855,000)	1,826,900)	1,798,900)	1,771,800)	1,701,800)	1,678,500)
Total liabilities and equity	5,768,300)	5,640,900)	5,480,800)	5,402,600)	5,338,400)	5,238,200)	5,169,700)	5,281,500)	5,241,700)	5,172,800)	5,292,900)	5,085,100)	4,877,100)	5,058,700)	4,959,100)	4,903,000)	5,074,300)	5,036,000)	4,976,100)	4,872,100)	4,997,500)	4,971,100)	4,975,400)

Short-term debt and current portion of long-term debt: This liability item shows notable volatility over the analyzed quarters. It reached a peak in early 2021 with a significant increase to 360,800 thousand USD in March 2021, followed by a steep decline in the latter part of 2021. From 2022 onwards, the values stabilized at relatively low levels under 10,000 thousand USD, indicating a reduction in short-term debt exposure.
Accounts payable: Accounts payable demonstrated a generally increasing trend throughout the period, rising from 374,500 thousand USD in early 2018 to approximately 554,700 thousand USD by the third quarter of 2023. Minor fluctuations are observed, but the overall upward movement suggests growing operational activity or extended payment terms.
Accrued salaries, wages and employee benefits: This item experienced fluctuations without a clear directional trend. Values peaked notably in December 2022 at 144,200 thousand USD, significantly higher than earlier quarters, indicating possible seasonal or operational effects on accrued employee-related expenses.
Accrued insurance: Accrued insurance liabilities remained relatively stable over time, with minor fluctuations around an average level near 70,000 to 80,000 thousand USD. There is no pronounced trend of increase or decrease.
Other accrued liabilities: Other accrued liabilities showed a gradual increasing pattern, starting at around 210,900 thousand USD in early 2018 and climbing to a peak of 348,300 thousand USD by mid-2023, before slightly declining near the end of the period. This progression may reflect expanding accruals for various operational costs.
Liabilities held for sale: These liabilities appear only once in the data for 2022, with current liabilities at 91,300 thousand USD and non-current liabilities at 18,800 thousand USD, suggesting a disposal or classification of certain assets/liabilities as held for sale during that period.
Current liabilities: Current liabilities fluctuated moderately. After a dip in late 2018, there was a general rise until early 2021, reaching over 1.1 million thousand USD, followed by variability but remaining close to or above 1 million thousand USD through 2023, indicating sustained short-term obligations.
Long-term debt, excluding current portion: Long-term debt levels trended downward from 1.9 million thousand USD in early 2018 to a low near 1.43 million thousand USD by the end of 2023. The most noticeable declines happened from late 2018 through 2020, after which the debt stabilized at this lower level, indicating repayment or refinancing activities.
Other non-current liabilities: This category remained largely consistent with minor fluctuations between approximately 495,200 thousand USD and around 617,100 thousand USD, without strong directional movement, suggesting stable non-current obligations.
Non-current liabilities: Overall non-current liabilities experienced a decline over time. Starting at around 2.4 million thousand USD in early 2018, the liabilities decreased to approximately 1.95 million thousand USD by late 2023, reflecting the reduction in long-term debt and stable other non-current liabilities.
Total liabilities: Total liabilities mostly declined from a peak of about 3.3 million thousand USD in 2018 to near 3.0 million thousand USD by the third quarter of 2023, with some intermediate fluctuations. This reduction is primarily driven by decreases in long-term debt and some short-term liabilities.
Total shareholders’ equity: Shareholders' equity displayed a clear upward trajectory, rising from approximately 1.66 million thousand USD in early 2018 to nearly 2.74 million thousand USD by late 2023. This consistent growth signifies retained earnings accumulation, possible capital infusions, or positive revaluations enhancing the equity base.
Noncontrolling interest: Noncontrolling interest values showed fluctuations but remained relatively minor compared to total equity, varying mostly between 9,300 thousand USD and 19,100 thousand USD. No significant trend is evident.
Total equity: Total equity mirrored the growth seen in shareholders’ equity, expanding steadily from 1.68 million thousand USD to approximately 2.75 million thousand USD, reflecting overall strengthening of the company’s financial position.
Total liabilities and equity: The combined total of liabilities and equity remained relatively stable, ranging from about 4.87 million thousand USD to 5.77 million thousand USD over the period, with a slight upward direction in the last years, indicating overall growth in the company's balance sheet size.

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Hubbell Inc. (NYSE:HUBB)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data