Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Medtronic PLC, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2025-10-24), 10-Q (reporting date: 2025-07-25), 10-K (reporting date: 2025-04-25), 10-Q (reporting date: 2025-01-24), 10-Q (reporting date: 2024-10-25), 10-Q (reporting date: 2024-07-26), 10-K (reporting date: 2024-04-26), 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26).
- Current Debt Obligations
- Current debt obligations as a percentage of total liabilities and equity exhibit significant volatility over the periods. The ratio peaks notably around mid-2020 and mid-2022, reaching values above 6%, followed by sharp declines to near zero in some quarters. Overall, the trend shows sporadic spikes without sustained growth or reduction.
- Accounts Payable
- Accounts payable remain relatively stable throughout the timeline, fluctuating mildly within a narrow band generally between 1.8% and 2.9% of total liabilities and equity. This stability indicates consistent management of short-term payables relative to the company’s total financial structure.
- Accrued Compensation
- The proportion of accrued compensation to total liabilities and equity demonstrates moderate fluctuations. Initial increases are observed from 1.65% to a peak above 2.6% in late 2021 and early 2024, followed by periods of decline and partial recovery, suggesting variability in compensation-related liabilities over time.
- Accrued Income Taxes (Current)
- Current accrued income taxes show an upward trend from under 0.6% to a peak around 1.5% in early 2024 before tapering down again. This trend signals increasing tax liabilities in relation to the company’s financial base during this period.
- Other Accrued Expenses
- Other accrued expenses maintain a relatively consistent share between approximately 3.3% and 4.3%. Minor fluctuations suggest steady control over miscellaneous accrued liabilities.
- Current Liabilities
- Current liabilities as a percentage of total liabilities and equity increase markedly from mid-2019 through mid-2022, peaking above 15%, followed by declines thereafter with intermittent rises. Overall, the pattern indicates phases of increased short-term obligations, possibly linked to operational or market conditions.
- Long-Term Debt
- Long-term debt shows a gradual decrease from above 27% in 2019 to a low near 19% in mid-2022, followed by an upward rebound exceeding 30% by late 2025. This pattern points to active debt management, involving debt reduction followed by renewed borrowing or capital restructuring in the later periods.
- Accrued Compensation and Retirement Benefits
- This component remains relatively low and stable, fluctuating narrowly around 1.1% to 2.1%. A slight downward drift is observable after early 2020, stabilizing close to 1.2%, indicating limited changes in these long-term accrued compensation liabilities.
- Accrued Income Taxes (Noncurrent)
- Noncurrent accrued income taxes reduce progressively from about 3.15% in 2019 to below 1.7% in 2025, displaying a clear downward trend. This decline may reflect strategic tax planning or changes in deferred tax positions.
- Deferred Tax Liabilities
- Deferred tax liabilities decrease steadily from close to 1.5% to below 0.5% over the analyzed timeframe, suggesting a reduction in deferred tax obligations relative to the company’s total financing.
- Other Liabilities
- Other liabilities remain stable around 1.5% to 2.0%, with only minor fluctuations. This steadiness indicates consistent management of miscellaneous noncurrent liabilities.
- Noncurrent Liabilities
- Noncurrent liabilities show an initial decline from 35.3% to approximately 25.6% by mid-2022, followed by a recovery to above 35% towards the end of the period. This pattern aligns with the movements observed in long-term debt, reflecting shifts in the company’s long-term financial commitments.
- Total Liabilities
- Total liabilities remain within a narrow range between 41% and 47.5%. A decrease is observed from 2019 to early 2022, with a subsequent moderate increase. Overall, the company maintains a relatively consistent liabilities ratio, balancing short and long-term obligations.
- Additional Paid-In Capital
- Additional paid-in capital gradually declines from 29% to approximately 22.8% over the period, indicating a decrease in equity contributions relative to total liabilities and equity, possibly due to share repurchases or limited new equity issuance.
- Retained Earnings
- Retained earnings increase steadily from 29% to above 35%, evidencing accumulation of profits and reinvestment within the entity. This positive trend supports financial stability and equity growth despite fluctuations elsewhere.
- Accumulated Other Comprehensive Loss
- This component remains negative throughout, with values mostly between -2.5% and -5.0%. Fluctuations within this range imply ongoing unrealized losses or negative adjustments impacting equity beyond retained earnings.
- Shareholders’ Equity
- Shareholders’ equity ratio shows variability, ranging from a low near 52% to a high over 58%. The trend reflects the interplay of liabilities and equity components, with equity recovering after mid-2022 from a dip caused by rises in liabilities.
- Noncontrolling Interests
- Noncontrolling interests grow gradually from 0.15% to approximately 0.26%, indicating incremental minority ownership influences on total equity.
- Total Equity
- Total equity largely tracks shareholders’ equity trends, fluctuating between 52.4% and 57.9%, with a slight downward trend toward the later periods. This mirrors capital structure dynamics and highlights a balance between equity and liabilities maintained over time.