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Kellanova (NYSE:K)

This company has been moved to the archive! The financial data has not been updated since August 1, 2024.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Kellanova, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Jun 29, 2024 Mar 30, 2024 Dec 30, 2023 Sep 30, 2023 Jul 1, 2023 Apr 1, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019
Current maturities of long-term debt 4.25 8.51 4.24 6.38 6.62 3.04 4.22 4.29 4.51 4.79 3.92 0.09 0.09 3.35 3.48 7.49 7.53 3.43 3.53 0.03 2.72 2.76
Notes payable 1.35 1.54 0.77 1.89 2.55 2.53 2.52 0.92 1.69 2.42 0.75 2.70 3.03 2.37 0.57 0.61 0.65 3.60 0.61 1.06 3.04 3.28
Accounts payable 14.82 14.42 14.81 14.92 15.52 15.57 16.07 15.10 15.13 14.53 14.15 13.72 13.68 13.71 13.73 12.94 12.90 12.77 13.59 13.36 12.86 12.84
Current operating lease liabilities 0.84 0.86 0.77 0.68 0.63 0.61 0.65 0.58 0.64 0.67 0.64 0.70 0.70 0.66 0.65 0.63 0.62 0.61 0.65 0.60 0.55 0.58
Accrued advertising and promotion 4.56 4.83 4.90 4.74 4.70 4.36 4.14 4.28 4.10 3.85 3.93 4.53 4.40 4.29 4.31 4.26 3.74 3.68 3.65 0.00 0.00 0.00
Accrued salaries and wages 1.32 1.34 1.78 1.63 1.34 1.15 2.00 1.67 1.25 1.06 1.65 1.54 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other current liabilities 4.08 4.58 5.10 4.66 4.41 4.95 4.71 4.90 4.63 4.10 4.20 4.05 5.26 5.43 6.36 5.95 6.13 6.57 5.18 10.03 7.55 7.51
Current liabilities 31.20% 36.08% 32.39% 34.90% 35.78% 32.21% 34.33% 31.73% 31.95% 31.42% 29.24% 27.32% 27.16% 29.81% 29.11% 31.89% 31.57% 30.67% 27.20% 25.08% 26.72% 26.96%
Long-term debt, excluding current maturities 32.73 28.70 32.58 29.58 28.05 30.91 28.75 29.96 30.83 31.98 34.45 38.14 38.59 36.84 37.49 36.99 37.35 39.27 40.96 43.91 44.26 44.32
Non-current operating lease liabilities 3.33 3.45 3.41 2.52 2.64 2.56 2.63 2.51 2.65 2.88 2.76 2.73 2.84 2.78 2.89 2.76 2.87 2.60 2.47 2.09 1.72 1.84
Deferred income taxes 3.44 3.35 3.18 3.76 3.64 3.91 4.11 4.85 4.57 4.34 3.97 3.33 3.55 3.51 3.12 3.10 3.22 3.25 3.39 3.37 4.17 4.09
Pension liability 3.79 3.89 3.92 3.86 3.93 3.82 3.83 3.17 3.30 3.54 3.88 4.01 3.78 4.02 4.27 3.55 3.76 3.78 4.01 3.46 3.32 3.41
Other liabilities 3.10 3.13 2.95 2.51 2.64 2.55 2.70 2.86 2.63 2.76 2.51 2.69 2.78 2.81 2.92 2.75 2.88 2.82 3.09 3.31 2.61 2.62
Non-current liabilities 46.40% 42.52% 46.04% 42.23% 40.90% 43.75% 42.02% 43.36% 43.98% 45.50% 47.57% 50.90% 51.54% 49.96% 50.69% 49.16% 50.07% 51.72% 53.93% 56.13% 56.07% 56.27%
Total liabilities 77.60% 78.60% 78.43% 77.12% 76.68% 75.96% 76.35% 75.08% 75.93% 76.92% 76.81% 78.22% 78.70% 79.77% 79.80% 81.05% 81.64% 82.39% 81.13% 81.21% 82.80% 83.23%
Common stock, $0.25 par value 0.69 0.69 0.67 0.56 0.58 0.56 0.57 0.55 0.55 0.56 0.58 0.57 0.58 0.58 0.58 0.55 0.57 0.58 0.60 0.60 0.56 0.57
Capital in excess of par value 7.07 6.94 7.05 5.72 5.83 5.54 5.77 5.40 5.32 5.34 5.63 5.46 5.34 5.28 5.40 5.01 5.01 4.99 5.24 5.19 4.79 4.75
Retained earnings 59.00 57.97 56.36 50.86 52.19 49.88 49.72 49.95 49.57 49.72 49.66 47.79 47.70 47.09 46.27 43.96 44.02 43.91 44.74 45.20 42.09 42.04
Treasury stock, at cost -30.71 -30.84 -30.69 -25.10 -25.97 -25.05 -25.52 -24.98 -25.44 -26.57 -25.94 -25.69 -26.03 -26.36 -25.33 -24.15 -24.87 -25.36 -26.70 -26.94 -25.38 -25.69
Accumulated other comprehensive loss -14.43 -14.18 -13.07 -10.45 -10.73 -9.19 -9.23 -8.40 -8.45 -8.66 -9.47 -9.20 -9.13 -9.22 -9.62 -9.29 -9.26 -9.47 -8.24 -8.47 -7.87 -7.94
Total Kellanova equity 21.62% 20.58% 20.33% 21.60% 21.90% 21.75% 21.31% 22.52% 21.56% 20.39% 20.46% 18.93% 18.46% 17.37% 17.29% 16.09% 15.47% 14.66% 15.64% 15.58% 14.19% 13.72%
Noncontrolling interests 0.78 0.82 1.24 1.28 1.41 2.29 2.35 2.39 2.51 2.69 2.72 2.85 2.84 2.86 2.91 2.86 2.89 2.95 3.23 3.21 3.01 3.05
Total equity 22.40% 21.40% 21.57% 22.88% 23.32% 24.04% 23.65% 24.92% 24.07% 23.08% 23.19% 21.78% 21.30% 20.23% 20.20% 18.95% 18.36% 17.61% 18.87% 18.79% 17.20% 16.77%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-K (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28), 10-Q (reporting date: 2019-06-29), 10-Q (reporting date: 2019-03-30).

A long-term analysis of the capital structure reveals a steady deleveraging trend, characterized by a reduction in total liabilities as a percentage of total liabilities and equity. Total liabilities decreased from 83.23% in March 2019 to 77.60% by June 2024. This shift indicates a transition toward a more equity-heavy financing mix, improving the overall solvency profile of the balance sheet.

Long-Term Debt and Non-Current Liabilities
The most significant contraction occurred within non-current liabilities, which fell from 56.27% in March 2019 to 46.40% in June 2024. This decline was primarily driven by long-term debt (excluding current maturities), which dropped from 44.32% to 32.73% over the period. This suggests a strategic reduction in long-term borrowing or a relative increase in other balance sheet components.
Current Liabilities and Short-Term Obligations
In contrast to long-term debt, current liabilities showed a general upward trajectory, rising from 26.96% in March 2019 to 31.20% in June 2024, peaking at 36.08% in March 2024. Accounts payable remained relatively stable but exhibited a slight increase, moving from 12.84% to 14.82%. Additionally, current maturities of long-term debt showed volatility, with notable peaks in early 2020 and early 2024, reflecting the cyclical nature of debt repayment schedules.
Equity Growth and Retained Earnings
Total equity increased from 16.77% in March 2019 to 22.40% in June 2024. This expansion was largely fueled by a substantial increase in retained earnings, which rose from 42.04% to 59.00%. The growth in retained earnings indicates strong cumulative profitability being reinvested into the company.
Treasury Stock and Comprehensive Losses
The increase in total equity was partially offset by an increase in treasury stock holdings, which moved from -25.69% to -30.71%, suggesting an aggressive share repurchase program. Furthermore, accumulated other comprehensive loss widened significantly, moving from -7.94% in March 2019 to -14.43% in June 2024, reflecting negative adjustments from items such as currency translation or unrealized gains and losses on investments.
Other Liability Trends
Pension liabilities remained relatively stable, fluctuating between approximately 3% and 4% of the total balance sheet. Noncontrolling interests saw a marked decline, dropping from 3.05% in March 2019 to 0.78% in June 2024, indicating a change in the ownership structure of subsidiary entities.

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