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.

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

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Accounts payable	645)	621)	581)	575)	437)
Client contract related	1,065)	884)	849)	763)	678)
Compensation, including bonuses, fringe benefits and payroll taxes	980)	946)	852)	687)	660)
Professional fees	99)	102)	92)	80)	91)
Contingent consideration and deferred purchase price	90)	31)	59)	52)	90)
Interest	43)	56)	55)	53)	45)
Restructuring	26)	30)	53)	67)	74)
Other	368)	311)	272)	235)	220)
Accrued expenses	2,671)	2,360)	2,232)	1,937)	1,858)
Accounts payable and accrued expenses	3,316)	2,981)	2,813)	2,512)	2,295)
Unearned income	1,797)	1,825)	1,252)	1,014)	1,007)
Income taxes payable	161)	137)	102)	108)	100)
Current portion of long-term debt	152)	91)	149)	100)	100)
Current finance lease liabilities	5)	9)	—)	—)	—)
Other current liabilities	147)	198)	242)	211)	32)
Current liabilities	5,578)	5,241)	4,558)	3,945)	3,534)
Long-term debt, less current portion	12,595)	12,034)	12,384)	11,545)	10,907)
Deferred income taxes	464)	410)	338)	646)	736)
Long-term operating lease liabilities	264)	313)	371)	396)	—)
Long-term finance lease liabilities	224)	177)	122)	—)	—)
Other liabilities	447)	472)	511)	456)	418)
Noncurrent liabilities	13,994)	13,406)	13,726)	13,043)	12,061)
Total liabilities	19,572)	18,647)	18,284)	16,988)	15,595)
Common stock and additional paid-in capital, $0.01 par value	10,898)	10,777)	11,095)	11,049)	10,901)
Retained earnings	3,334)	2,243)	1,277)	998)	807)
Treasury stock, at cost	(7,740)	(6,572)	(6,166)	(5,733)	(4,770)
Accumulated other comprehensive loss	(727)	(406)	(205)	(311)	(224)
Equity attributable to IQVIA Holdings Inc.’s stockholders	5,765)	6,042)	6,001)	6,003)	6,714)
Non-controlling interests	—)	—)	279)	260)	240)
Total stockholders’ equity	5,765)	6,042)	6,280)	6,263)	6,954)
Total liabilities and stockholders’ equity	25,337)	24,689)	24,564)	23,251)	22,549)

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).

Liabilities Overview: Current liabilities have steadily increased from US$ 3,534 million in 2018 to US$ 5,578 million in 2022, indicating a higher level of short-term obligations over the period. Accounts payable and accrued expenses showed consistent growth, rising from US$ 2,295 million in 2018 to US$ 3,316 million in 2022. Unearned income increased significantly, peaking at US$ 1,825 million in 2021 before slightly declining to US$ 1,797 million in 2022.
Long-term Liabilities: Long-term debt experienced growth overall, from US$ 10,907 million in 2018 to US$ 12,595 million in 2022, with slight fluctuations in between. Deferred income taxes decreased from US$ 736 million in 2018 to a low of US$ 338 million in 2020, but then rose again to US$ 464 million in 2022. Operating lease liabilities trended downward, while finance lease liabilities appeared from 2020 onward and increased to US$ 224 million by 2022. Other noncurrent liabilities remained relatively stable around the US$ 400 to 500 million range.
Total Liabilities: Total liabilities consistently increased from US$ 15,595 million in 2018 to US$ 19,572 million in 2022, reflecting incremental debt and growing current obligations over the five-year span.
Equity Trends: Common stock and additional paid-in capital remained mostly stable over the years, fluctuating slightly around the US$ 10,900 million mark. Retained earnings showed strong growth, more than quadrupling from US$ 807 million in 2018 to US$ 3,334 million in 2022, indicating accumulated profitability or retained income. Treasury stock increased negatively, with a growing negative balance reaching US$ -7,740 million in 2022, which suggests increased share repurchases or buybacks. Accumulated other comprehensive loss worsened significantly, nearly tripling from US$ -224 million in 2018 to US$ -727 million in 2022, indicating larger unrealized losses on certain financial items or foreign currency translation effects.
Total Stockholders’ Equity: Total equity declined from US$ 6,954 million in 2018 to US$ 5,765 million in 2022, driven likely by increased treasury stock and comprehensive losses despite growth in retained earnings.
Key Expense Items: Compensation costs steadily rose from US$ 660 million in 2018 to US$ 980 million in 2022, reflecting possible wage inflation, headcount increases, or bonus increments. Client contract related expenses also increased significantly, especially noticeable in 2022 with a sharp rise to US$ 1,065 million. Professional fees fluctuated modestly around the US$ 90–100 million range. Interest expenses peaked around 2021 at US$ 56 million but decreased to US$ 43 million in 2022. Restructuring expenses declined consistently from US$ 74 million in 2018 to US$ 26 million in 2022, indicating fewer restructuring activities or associated costs over time. Other operating expenses gradually increased, indicating rising miscellaneous costs in operations.
Summary: The overall financial trend reflects increasing liabilities, both current and long-term, coupled with steady growth in retained earnings but declining total equity due to expanding treasury stock holdings and growing comprehensive losses. Operating costs, notably compensation and contract-related expenses, show upward momentum, suggesting expansion or inflationary pressures. The reduction in restructuring expenses points to stabilization efforts being largely completed. The combination of these factors underscores a company managing growth alongside increased financial obligations and shareholder equity fluctuations.

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IQVIA Holdings Inc. (NYSE:IQV)

Balance Sheet: Liabilities and Stockholders’ Equity