Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Paying user area
Try for free
Humana Inc. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Reportable Segments
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Humana Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Humana Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2023-12-31), 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).
- Liabilities
- Over the five-year period, the proportion of total liabilities relative to total liabilities and equity demonstrates a consistent upward trend, increasing from 58.6% in 2019 to 65.33% in 2023. This indicates a gradual rise in the company's leverage or obligation levels.
- Current liabilities show some fluctuation but generally rise, moving from 37.59% in 2019 to 40.1% in 2023, suggesting growing short-term obligations. Within current liabilities, trade accounts payable and accrued expenses decrease initially from 12.91% to 10.17% between 2019 and 2021, then increase to 13.96% by 2023, reflecting variability in operational payables and accrued costs.
- Benefits payable display variability, dipping notably in 2021 to 18.69% but then rising again to 21.76% in 2023, which may suggest changes in employee benefit obligations or provisions.
- Short-term debt fluctuates significantly, decreasing to 1.72% in 2020, then spiking to 4.86% in 2022 before falling back to 3.07% in 2023, indicating variations in short-term borrowing strategies or cash flow needs.
- Long-term liabilities increase from 21.01% in 2019 to a peak of 29.14% in 2021, subsequently decreasing to 25.23% in 2023. Within this category, long-term debt rises notably in 2021 to 23.76%, implying increased debt financing, before tapering off somewhat in subsequent years.
- Other long-term liabilities peak in 2021 at 5.37% but then decline to around 3.5% by 2023, suggesting some non-debt long-term obligations were either settled or reclassified.
- Equity
- Stockholders’ equity as a percentage of total liabilities and equity declines steadily from 41.4% in 2019 to 34.55% in 2023, reflecting increasing reliance on liabilities relative to equity.
- Within equity, retained earnings drop from 60.13% in 2019 to a low of 52.04% in 2021, before rebounding to nearly previous levels at 58.51% in 2023, indicating periods of lower profitability or higher dividend payouts followed by recovery.
- Capital in excess of par value decreases steadily from 9.7% to 7.11%, suggesting less capital infusion above nominal stock value.
- Treasury stock remains significant and relatively stable in magnitude (around -29%), indicative of consistent share repurchase activity reducing equity book value.
- Accumulated other comprehensive income exhibits considerable volatility, rising to 1.12% in 2020 but turning negative in 2022 and 2023 (down to -3.03% and -2.12%, respectively), which may denote unrealized losses on investments or other comprehensive income components.
- Common stock shows a slight downward trend from 0.11% to 0.07%, reflecting possible dilution or share management actions.
- Overall Observations
- The increasing liabilities proportion coupled with decreasing equity indicates a strategic shift towards greater financial leverage over the analyzed period. Volatility in short-term liabilities and long-term debt suggests active management of financing sources possibly in response to market conditions or operational needs.
- The fluctuations in retained earnings and accumulated other comprehensive income suggest variability in profitability and other income components affecting equity quality.
- Consistent treasury stock levels imply ongoing stock repurchase activities, which may be aimed at influencing share value or signaling confidence to investors.