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.
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Mastercard Inc., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
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).
- Accounts payable
- Accounts payable exhibited a fluctuating trend, decreasing from 537 million in 2018 to 489 million in 2019, rising slightly in 2020, and then increasing more substantially to 926 million by 2022.
- Settlement obligations
- Settlement obligations increased from 2189 million in 2018 to a peak of 2714 million in 2019, followed by a sharp decline through 2021, before rising again to 1111 million in 2022.
- Restricted security deposits held for customers
- This category demonstrated a steady upward trend from 1080 million in 2018 up to 1873 million in 2021, with a slight decrease to 1568 million in 2022.
- Accrued litigation
- Accrued litigation obligations decreased considerably from 1591 million in 2018 to a low of 840 million in 2021, then increased again to 1094 million in 2022.
- Customer and merchant incentives
- These incentives showed consistent growth year-over-year, growing from 3275 million in 2018 to 5600 million in 2022, reflecting increasing promotional or rebate-related liabilities.
- Personnel costs
- Personnel costs remained relatively stable around 700 million through 2020, then increased notably in 2021 and 2022, reaching 1322 million, indicating expanding workforce expenses or compensation.
- Income and other taxes
- Income and other taxes showed variability, rising from 158 million in 2018 to 337 million in 2021, but falling back to 279 million in 2022.
- Other current liabilities and accrued expenses
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Accrued expenses rose steadily from 4747 million in 2018 to 7801 million in 2022, indicating growing obligations for expenses incurred but not yet paid. Other current liabilities also increased from 949 million to 1397 million over the same period.
- Short-term debt
- Short-term debt was reported as 500 million in 2018, absent in 2019, and then increased to 792 million in 2021 before dropping significantly to 274 million in 2022.
- Current liabilities
- Current liabilities overall showed a steady increase from 11593 million in 2018 to 14171 million in 2022, reflecting a growth in short-term financial obligations.
- Long-term debt, excluding current portion
- This liability increased consistently from 5834 million in 2018 to 13749 million in 2022, more than doubling over the five-year period, demonstrating a rising reliance on long-term borrowing.
- Deferred income taxes
- Deferred income taxes remained low from 2018 through 2020 but spiked sharply to around 395 million in 2021, remaining near that level in 2022.
- Other liabilities
- Other liabilities showed a continuous increase from 1877 million in 2018 to 4034 million in 2022, indicating steadily growing additional obligations.
- Noncurrent liabilities
- Noncurrent liabilities rose significantly from 7778 million in 2018 to 18176 million in 2022, aligning with the increase in long-term debt and other liabilities.
- Total liabilities
- Total liabilities increased notably from 19371 million in 2018 to 32347 million in 2022, reflecting overall growth in the company's financial obligations.
- Redeemable non-controlling interests
- These interests declined steadily from 71 million in 2018 to 21 million in 2022, indicating a reduction in minority interests redeemable by outsiders.
- Additional paid-in capital
- Additional paid-in capital increased gradually from 4580 million in 2018 to 5298 million in 2022, suggesting some raising of capital over the period.
- Class A treasury stock, at cost
- The negative treasury stock balance increased substantially from -25750 million in 2018 to -51354 million in 2022, implying increased share repurchases over the timeframe.
- Retained earnings
- Retained earnings demonstrated strong growth from 27283 million in 2018 to 53607 million in 2022, reflecting accumulated profits retained within the company.
- Accumulated other comprehensive loss
- Other comprehensive loss deepened from -718 million in 2018 to -1253 million in 2022, indicating an increase in losses recognized outside of regular earnings.
- Total Mastercard Incorporated stockholders’ equity
- Stockholders’ equity rose steadily from 5395 million in 2018 to 7312 million in 2021 but then declined to 6298 million in 2022, suggesting a recent decrease possibly due to repurchases or other equity adjustments.
- Non-controlling interests
- Non-controlling interests experienced minor fluctuations but remained relatively low, with a peak at 97 million in 2020 and ending at 58 million in 2022.
- Total equity
- Total equity trends mirrored those of stockholders' equity, increasing from 5418 million in 2018 to 7383 million in 2021 before declining to 6356 million in 2022.
- Total liabilities, redeemable non-controlling interests and equity
- The sum of liabilities, redeemable non-controlling interests, and equity increased from 24860 million in 2018 to 38724 million in 2022, showing overall balance sheet expansion.