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.

Las Vegas Sands Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	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
Accounts payable	150)	135)	108)	89)	91)	76)	69)	77)	74)	69)	70)	98)	70)	64)	82)	149)	170)	138)	152)	178)	153)	154)	159)
Construction payables	153)	179)	182)	189)	178)	201)	245)	227)	233)	201)	217)	342)	293)	326)	303)	334)	315)	240)	190)	189)	208)	192)	117)
Other accrued liabilities	1,768)	1,719)	1,440)	1,458)	1,285)	1,234)	1,091)	1,334)	1,265)	1,345)	1,307)	1,706)	1,684)	1,683)	1,693)	2,396)	2,224)	2,278)	2,189)	2,435)	2,197)	2,200)	2,149)
Income taxes payable	213)	171)	171)	135)	323)	439)	662)	32)	15)	27)	28)	87)	136)	231)	272)	275)	229)	259)	275)	244)	237)	262)	305)
Current maturities of long-term debt	1,818)	71)	2,018)	2,031)	1,514)	73)	72)	74)	73)	75)	72)	76)	72)	71)	69)	70)	66)	116)	111)	111)	111)	184)	144)
Current liabilities of discontinued operations held for sale	—)	—)	—)	—)	—)	—)	—)	821)	827)	825)	771)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Current liabilities	4,102)	2,275)	3,919)	3,902)	3,391)	2,023)	2,139)	2,565)	2,487)	2,542)	2,465)	2,309)	2,255)	2,375)	2,419)	3,224)	3,004)	3,031)	2,917)	3,157)	2,906)	2,992)	2,874)
Other long-term liabilities	844)	842)	850)	382)	368)	358)	362)	352)	341)	336)	346)	497)	518)	513)	521)	513)	496)	494)	485)	179)	175)	165)	155)
Deferred income taxes	150)	145)	146)	152)	150)	157)	164)	173)	173)	179)	179)	188)	184)	169)	169)	183)	184)	180)	184)	191)	189)	193)	205)
Deferred amounts related to mall sale transactions	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	344)	345)	346)	348)	350)	351)	398)	399)	401)	402)	404)	405)
Long-term debt, excluding current maturities	12,576)	14,849)	13,971)	13,947)	13,779)	15,306)	14,905)	14,721)	14,462)	14,375)	14,374)	13,931)	13,840)	13,767)	12,253)	12,422)	11,877)	11,909)	11,888)	11,874)	11,869)	11,139)	9,508)
Long-term liabilities	13,570)	15,836)	14,967)	14,481)	14,297)	15,821)	15,431)	15,246)	14,976)	14,890)	14,899)	14,960)	14,887)	14,795)	13,291)	13,468)	12,908)	12,981)	12,956)	12,645)	12,635)	11,901)	10,273)
Total liabilities	17,672)	18,111)	18,886)	18,383)	17,688)	17,844)	17,570)	17,811)	17,463)	17,432)	17,364)	17,269)	17,142)	17,170)	15,710)	16,692)	15,912)	16,012)	15,873)	15,802)	15,541)	14,893)	13,147)
Preferred stock, $0.001 par value, zero shares issued and outstanding	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.001 par value	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)	1)
Treasury stock, at cost	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,481)	(4,181)	(4,081)	(3,901)	(3,727)	(3,297)	(2,997)	(2,893)
Capital in excess of par value	6,720)	6,708)	6,694)	6,684)	6,675)	6,665)	6,656)	6,646)	6,639)	6,634)	6,629)	6,611)	6,605)	6,597)	6,591)	6,569)	6,554)	6,541)	6,700)	6,680)	6,673)	6,660)	6,636)
Accumulated other comprehensive income (loss)	(57)	(41)	11)	(7)	(148)	(86)	(29)	(22)	(32)	(6)	(11)	29)	(38)	(74)	(119)	(3)	(74)	(19)	(32)	(40)	(36)	(44)	47)
Retained earnings (loss)	2,370)	2,143)	1,831)	1,684)	1,853)	2,092)	2,382)	(148)	(25)	343)	535)	813)	1,112)	1,677)	2,497)	3,101)	3,059)	3,118)	2,757)	2,770)	3,521)	3,538)	3,572)
Total Las Vegas Sands Corp. stockholders’ equity	4,553)	4,330)	4,056)	3,881)	3,900)	4,191)	4,529)	1,996)	2,102)	2,491)	2,673)	2,973)	3,199)	3,720)	4,489)	5,187)	5,359)	5,560)	5,525)	5,684)	6,862)	7,158)	7,363)
Noncontrolling interests	(101)	(171)	(227)	(225)	(119)	24)	148)	252)	327)	455)	504)	565)	641)	805)	968)	1,320)	1,156)	1,022)	915)	1,061)	936)	804)	994)
Total equity	4,452)	4,159)	3,829)	3,656)	3,781)	4,215)	4,677)	2,248)	2,429)	2,946)	3,177)	3,538)	3,840)	4,525)	5,457)	6,507)	6,515)	6,582)	6,440)	6,745)	7,798)	7,962)	8,357)
Total liabilities and equity	22,124)	22,270)	22,715)	22,039)	21,469)	22,059)	22,247)	20,059)	19,892)	20,378)	20,541)	20,807)	20,982)	21,695)	21,167)	23,199)	22,427)	22,594)	22,313)	22,547)	23,339)	22,855)	21,504)

The data depicts quarterly financial metrics over multiple years, revealing several notable trends in liabilities, equity, and other balance sheet components.

Current Liabilities: Current liabilities exhibit fluctuations with a general downward trend from early 2020 through mid-2022, followed by a sharp increase into 2023. The March 31, 2020 figure of US$2,419 million dropped to a low of US$2,023 million by June 30, 2022, before rising significantly to US$4,102 million by September 30, 2023. This surge is largely driven by spikes in current maturities of long-term debt in early 2020 and 2023, showing a large increase to over US$2 billion at these times.
Long-term Debt and Liabilities: Long-term debt, excluding current maturities, increased steadily from US$9,508 million in March 2018 to a peak near US$15,306 million by June 2022, then experienced a decline to approximately US$12,576 million by September 2023. Total long-term liabilities followed a similar pattern, rising from about US$10,273 million to US$15,836 million and then decreasing towards US$13,570 million. This pattern suggests elevated borrowing during the peak years, possibly to support operations or investment, followed by some debt repayment or refinancing.
Accounts Payable and Other Accrued Liabilities: Accounts payable declined sharply during the COVID-19 pandemic period, from US$149 million in December 2019 down to a low of US$64 million in June 2020, then recovered gradually, reaching US$150 million by September 2023. Other accrued liabilities similarly decreased from highs above US$2,400 million in 2018-2019 to a low around US$1,300 million during 2021, before showing incremental increases to US$1,768 million by September 2023. This reflects a period of reduced operational accruals and a slow recovery phase.
Income Taxes Payable: Income taxes payable were relatively stable around US$250 million before 2020, but decreased sharply through 2020, reaching as low as US$15 million in March 2021. Thereafter, the balance rose again, peaking temporarily at US$662 million in March 2022, before declining back toward approximately US$213 million by September 2023. These fluctuations may relate to taxable income variability during economic cycles.
Stockholders’ Equity: Total equity declined significantly from US$8,357 million in March 2018 to a trough of US$2,248 million by December 2021, partly due to accumulated losses and treasury stock at constant high negative values near US$-4,481 million. However, equity rebounded moderately after 2021, climbing to US$4,452 million by September 2023. Retained earnings experienced a sharp drop, especially in 2020 and 2021, reaching negative values before recovering to positive territory by 2023. Noncontrolling interests followed a downward trajectory into negative figures by 2022 and 2023, indicating potential write-downs or losses attributed to minority shareholders.
Treasury Stock and Capital Components: Treasury stock maintained a consistently high negative value around US$-4,481 million from the end of 2019 onward, indicating significant repurchasing or holding of treasury shares. Capital in excess of par value remained relatively stable with slight growth from US$6,636 million in 2018 to US$6,720 million by 2023, reflecting minor equity injections or adjustments.
Total Liabilities and Equity: Total liabilities and equity declined slightly from a peak above US$23,000 million in mid-2018 to a low near US$20,000 million in late 2020 and 2021, then increased again to approximately US$22,124 million by September 2023. This indicates overall balance sheet contraction during the pandemic years, with partial recovery subsequently.
Other Notable Observations: Construction payables rose sharply from 2018 through 2019, peaking at over US$330 million, then experienced ups and downs with notable volatility around US$150-300 million in subsequent years. Deferred income taxes and deferred amounts related to mall sale transactions decreased gradually over time. The presence of current liabilities from discontinued operations was notable in 2020 and 2021 but absent thereafter, implying disposal or closure of certain business segments.

In summary, the financial position reveals stress during 2020-2021, characterized by declining equity, reduced current liabilities, and increased debt maturities, possibly due to external shocks such as the global pandemic. Following this period, there is evidence of gradual recovery demonstrated by improvements in retained earnings, equity, and stabilization of liabilities. The patterns suggest an effort to manage debt maturities, control liabilities, and rebuild equity base. Notwithstanding, the large treasury stock and fluctuating noncontrolling interests reflect ongoing complexity in capital structure management.

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Las Vegas Sands Corp. (NYSE:LVS)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data