Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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Monsanto Co., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-31).
- Short-term debt, including current portion of long-term debt
- The proportion of short-term debt increased markedly from 0.18% in 2012 to a peak of 8.04% in 2016, before decreasing to 4.08% in 2017. This indicates a significant rise in near-term borrowing obligations through 2016, followed by a partial reduction.
- Accounts payable
- This liability showed a generally stable pattern with minor fluctuations, rising from 3.93% in 2012 to 5.1% in 2016, then slightly declining to 5.01% in 2017, suggesting consistent outstanding supplier obligations relative to total financing.
- Income taxes payable
- Income taxes payable remained low throughout the period, with a small spike to 1.07% in 2015 but generally under 0.5% of total liabilities and equity, indicating minor fluctuations in tax liabilities.
- Accrued compensation and benefits
- These liabilities decreased gradually from 2.7% in 2012 to a low of 1.21% in 2016, then rebounded to 2.71% in 2017. This pattern may reflect changes in employee-related obligations or timing differences in accruals.
- Accrued marketing programs
- A steady increase was noted, rising from 6.33% in 2012 to 8.99% in 2017, indicating growing marketing spend accruals over the period relative to the total capital structure.
- Deferred revenues
- Deferred revenues varied modestly, starting at 1.96% in 2012, decreasing by 2015, then increasing again to 3.41% in 2017, reflecting changes in revenue recognition timing or contract terms.
- Grower production accruals
- This item steadily declined from 0.96% in 2012 to a trough in 2015 (0.18%) before a slight recovery, remaining below 0.3%, signifying a minor share of total obligations.
- Dividends payable
- Dividends payable maintained a relatively stable range between 0.99% and 1.2%, indicating consistent dividend liability relative to total financing.
- Customer payable
- There was an overall upward trend from 0.07% in 2012 to 0.62% in 2016, followed by a small decline, pointing to increasing short-term customer-related liabilities.
- Restructuring reserves
- Beginning in 2015, restructuring reserves appeared, peaking at 1.15% in 2016 before falling to 0.17% in 2017, reflecting episodic restructuring activities with associated liabilities.
- Miscellaneous short-term accruals
- This category rose from 3.39% in 2012 to a peak of 5.09% in 2016, then declined to 3.47% in 2017, indicating variable short-term accruals unrelated to other categories.
- Current liabilities
- The share of current liabilities grew from around 21% in 2012 to a peak of 34.1% in 2016, before decreasing to approximately 30% in 2017, implying increasing short-term financial obligations peaking in 2016.
- Long-term debt, excluding current portion
- This liability exhibited a substantial increase from approximately 10% in 2012-2013 to over 34% in 2017, peaking at 38.45% in 2015, suggesting significant long-term borrowing growth and a slight subsequent reduction.
- Postretirement liabilities
- These liabilities steadily declined from 2.68% in 2012 to below 1.5% by 2017, indicating lower postretirement obligations relative to total financing.
- Long-term deferred revenue
- The proportion of long-term deferred revenue decreased from 1.21% in 2012 to a low of 0.18% in 2016, with a slight increase in 2017, pointing to diminishing unearned revenues recognized over future periods.
- Noncurrent deferred tax liabilities
- These liabilities fluctuated, peaking at 2.32% in 2014, declining steeply to 0.34% in 2016, followed by a modest increase to 0.9% in 2017, suggesting changes in deferred tax obligations over time.
- Long-term portion of environmental and litigation liabilities
- This liability remained relatively stable around 1%, indicating consistent recognition of long-term environmental and legal liabilities.
- Long-term restructuring reserves
- Introduced in 2015 at 0.21%, this reserve decreased steadily to 0.04% by 2017, corresponding with the decline in short-term restructuring reserves, showing ongoing resolution of restructuring liabilities.
- Other liabilities
- Other liabilities declined from 3.04% to below 2% during 2012–2014 and then stabilized near 1.7%, indicating a reduction and then steady state in miscellaneous obligations.
- Noncurrent liabilities
- Noncurrent liabilities experienced a significant increase from about 19.6% in 2012 to a peak of 44.43% in 2015, followed by a decline to roughly 39.7% in 2017, reflecting growth in long-term obligations before partial repayment or reclassification.
- Total liabilities
- Total liabilities rose sharply from 40.5% in 2012 to a high of 76.97% in 2016, then declined to 69.73% in 2017, showing an overall increase in obligations relative to total capital, with a peak in 2016.
- Common stock, par value $0.01
- Common stock remained stable at 0.03% across all years, indicating an unchanged level of par value stock relative to total capital.
- Treasury stock, at cost
- The negative treasury stock balance increased in magnitude from -15.06% in 2012 to a peak of -76.27% in 2016, before slightly decreasing in 2017. This reflects significant share repurchases or stock withdrawals increasing over time.
- Additional contributed capital
- This equity component fluctuated but generally increased from 51.28% in 2012 to 58.91% in 2016, followed by a slight decrease in 2017, indicating net contributions or capital increases over the period.
- Retained earnings
- Retained earnings showed continuous growth from 27.38% in 2012 to 56.59% in 2017, reflecting accumulated profitability retained in the company, increasing its equity base.
- Accumulated other comprehensive loss
- This loss increased from -5.12% in 2012 to a low of -14.23% in 2016, partly recovering to -11.38% in 2017, indicating growing cumulative other comprehensive losses followed by partial improvement.
- Total Monsanto Company shareowners’ equity
- Shareowners’ equity declined from 58.51% in 2012 to 22.97% in 2016, then rebounded to 30.18% in 2017. This reflects an overall decrease in equity as a portion of total financing up to 2016, with some recovery afterward.
- Noncontrolling interest
- Noncontrolling interest diminished from 1.0% in 2012 to 0.06% in 2016, slightly increasing to 0.09% in 2017, indicating a decreasing influence of minority shareholders over the period.
- Total shareowners’ equity
- Total equity, including noncontrolling interest, followed the same trend as Monsanto’s equity alone, declining to about 23% in 2016 and rising to over 30% in 2017.
- Total liabilities and shareowners’ equity
- The total was consistently 100%, as expected, confirming the balance between liabilities and equity over time.