Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
Medtronic PLC, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 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
- The percentage of current debt obligations relative to total liabilities and equity fluctuates notably, with peaks observed around July 31, 2020 (6.2%) and July 29, 2022 (6.37%). However, intermittent quarters exhibit minimal values close to zero, indicating considerable variation in short-term debt levels over the periods analyzed.
- Accounts Payable
- This category remains relatively stable, fluctuating slightly between approximately 1.8% and 2.9% of total liabilities and equity. The series shows a minor increase toward the later periods, reaching up to 2.81% in July 2025, implying modest growth in payables relative to the company’s financial structure.
- Accrued Compensation
- Accrued compensation percentages show moderate variability, generally ranging from around 1.65% to 2.74%. A slight upward drift is visible in recent quarters, indicating that accrued compensation obligations have increased somewhat relative to total liabilities and equity.
- Accrued Income Taxes
- The accrued income taxes trend indicates a gradual increase from approximately 0.4% in early periods to peaks around 1.48% by April 2024, followed by fluctuating levels in subsequent quarters, suggesting increasing tax liabilities accrued over time.
- Other Accrued Expenses
- This item shows persistent stability between roughly 3.3% and 4.3%, with minor fluctuations quarter-to-quarter. The consistent proportion indicates a stable level of other accrued expenses relative to total liabilities and equity.
- Current Liabilities
- Current liabilities as a percentage of total liabilities and equity demonstrate marked volatility, ranging widely from below 9% in some quarters, such as July 28, 2023, to a high of 15.62% in July 29, 2022. This variability suggests fluctuating obligations due within one year, affected by changes in components such as current debt and payables.
- Long-Term Debt
- Long-term debt remains the largest component of liabilities, ranging mostly between about 19% and 29%. Noticeable decreases occur around mid-2022 (down to 19.44%), followed by a rebound to roughly 28.78% by July 2025. The data reflect significant volatility in long-term borrowing over the examined quarters.
- Accrued Compensation and Retirement Benefits
- This category shows a declining trend from around 2.11% in the earlier periods to closer to 1.12% in 2022, followed by a steady, modest increase to approximately 1.3% in July 2025, indicating a somewhat reduced but gradually increasing obligation in accrued benefits.
- Accrued Income Taxes (Non-current)
- Non-current accrued income taxes display a downward trend from about 3.15% to near 1.59%, with some fluctuations. The general decline suggests reduced deferred tax liabilities or accrued tax obligations classified as non-current during the recent periods.
- Deferred Tax Liabilities
- Deferred tax liabilities steadily diminish over the analyzed period from about 1.5% to under 0.5%, indicating a decreasing level of deferred tax obligations relative to total liabilities and equity.
- Other Liabilities
- Other liabilities maintain a narrow range around 1.5% to 2%, with relatively minor quarter-to-quarter changes, indicating stability in miscellaneous long-term obligations.
- Noncurrent Liabilities
- Noncurrent liabilities generally decrease from roughly 35.3% to as low as 25.6% in mid-2022 before recovering to about 34.4% by mid-2025. This pattern aligns with movements in long-term debt and deferred tax components, suggesting changes in the structure of long-term obligations.
- Total Liabilities
- Total liabilities fluctuate between approximately 42% and 47%, reflecting a relatively stable overall debt and obligation level in relation to total liabilities and equity, despite the individual component variances.
- Equity Components
- Additional paid-in capital shows a declining trend from 29% to about 22.7% by mid-2025, indicating possible share repurchases, dilution, or other equity adjustments affecting this component.
- Retained earnings display an increasing trend from around 29% to nearly 34.7%, reflecting accumulated profits reinvested in the company over time.
- Accumulated other comprehensive loss fluctuates negatively, worsening particularly in the later periods to around -5%, which indicates growing unrealized losses or negative adjustments in equity related to items outside of net income.
- Shareholders' equity overall remains above 50%, oscillating between roughly 52% and 58%, signifying a consistent equity base relative to total liabilities and equity during the periods analyzed.
- Noncontrolling interests show a gradual rise from 0.15% to about 0.26%, implying modest increases in minority ownership stakes in the company’s consolidated entities.
- Total Equity and Total Liabilities and Equity
- Total equity percentages consistently range from about 52.6% to 58.8%, lightly offsetting the liabilities side. Total liabilities and equity, by definition, total 100% for all periods, confirming the balance sheet identity holds throughout.