Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
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Johnson Controls International plc, common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).
- Short-term debt and current portion of long-term debt
- Short-term debt showed a significant decline from 2.69% in 2018 to a low of 0.02% in 2019 and 2021, before rising moderately to 0.91% in 2023. The current portion of long-term debt increased from 0.05% in 2018 to a peak of 2.05% in 2022, then slightly decreased to 1.53% in 2023. Overall, short-term borrowings remained relatively low with some fluctuations, while near-term obligations of long-term debt increased and then moderated.
- Accounts payable and accrued compensation and benefits
- Accounts payable exhibited a downward trend from 9.52% in 2018 to 7.64% in 2020, followed by a rise to 10.1% in 2023, ending slightly above the 2018 level. Accrued compensation and benefits remained relatively stable around the 2.0-2.4% range, showing minor fluctuations but no major trend changes.
- Deferred revenue and other current liabilities
- Deferred revenue demonstrated a steady increasing trend from 2.72% in 2018 up to 4.73% in 2023, indicating potential growth in prepayments or contracts. Other current liabilities also increased gradually from 5.72% in 2018 to 6.7% in 2023, reflecting a modest buildup in miscellaneous current obligations.
- Current liabilities
- Total current liabilities declined from 23.05% in 2018 to 20.21% in 2020 but then increased markedly to 26.66% in 2022 and slightly decreased to 26.24% in 2023. This suggests a notable rise in short-term obligations in recent years.
- Long-term debt and pension obligations
- Long-term debt, net of current portion, decreased from 19.78% in 2018 to 15.86% in 2019, then rose to around 18.5% in 2023. Pension and postretirement benefit obligations exhibited a declining pattern from 2.79% in 2020 to 0.66% in 2023, indicating reduced pension-related liabilities over time.
- Other noncurrent liabilities
- Other noncurrent liabilities increased from 9.67% in 2018 to a peak of 14.1% in 2021, followed by a moderate decrease to 12.71% in 2023, showing some volatility but an overall upward movement within the period.
- Noncurrent liabilities and total liabilities
- Noncurrent liabilities increased from 30.92% in 2018 to a peak of 34.38% in 2020, then gradually declined to 31.87% in 2023. Total liabilities as a proportion of total liabilities and equity dropped initially to 50.74% in 2019 but subsequently increased to reach 58.11% in 2023, reflecting a growing leverage position overall.
- Shareholders’ equity components
- Ordinary shares remained constant at 0.02%. Treasury stock held at cost showed a consistent increase in its negative balance from -2.16% in 2018 to -2.94% in 2023, indicating increased share repurchases or holdings. Capital in excess of par value increased from 33.91% to above 41% by 2023, while retained earnings declined significantly from 13.53% in 2018 to a low of 2.73% in 2022, with a slight recovery to 3.28% in 2023. Accumulated other comprehensive loss fluctuated narrowly around -2.0% to -1.0%. Overall, shareholders’ equity attributable to the company declined from 43.37% in 2018 to 38.59% in 2022, followed by a modest rebound to 39.17% in 2023.
- Total equity and total liabilities and equity
- Total equity decreased from 46.02% in 2018 to a low of 41.28% in 2022, then modestly improved to 41.89% in 2023. The total of liabilities and equity remained consistent at 100% each year by definition.