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.

Paycom Software Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	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	6,889)	8,485)	10,036)	16,054)	10,211)	13,475)	12,192)	5,772)	9,441)	9,220)	12,133)	6,787)	9,237)	3,667)	5,694)	5,051)	4,693)	3,622)	4,081)	6,288)	6,173)	4,995)	3,421)
Income tax payable	—)	—)	19,350)	—)	—)	—)	23,180)	—)	—)	—)	12,977)	—)	—)	—)	15,953)	—)	—)	—)	3,526)	—)	—)	—)	—)
Accrued commissions and bonuses	20,423)	21,879)	17,594)	28,439)	19,037)	14,798)	12,048)	22,357)	12,431)	9,918)	6,781)	13,703)	7,940)	6,539)	5,662)	12,343)	8,432)	7,901)	4,553)	10,671)	6,454)	4,441)	2,605)
Accrued payroll and vacation	41,160)	49,977)	36,188)	45,023)	36,069)	41,802)	42,838)	34,259)	36,138)	28,640)	32,634)	24,529)	27,722)	18,949)	21,159)	14,870)	17,672)	11,560)	14,506)	10,741)	12,937)	8,895)	11,322)
Deferred revenue	22,730)	21,343)	20,505)	19,825)	19,546)	17,920)	17,135)	16,277)	16,175)	14,946)	14,191)	13,567)	13,887)	12,273)	11,660)	11,105)	10,634)	10,082)	9,672)	8,980)	8,409)	7,867)	7,358)
Current portion of long-term debt	—)	—)	—)	—)	—)	—)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,775)	1,331)
Accrued expenses and other current liabilities	77,065)	78,889)	70,090)	59,990)	58,797)	54,904)	57,260)	63,397)	50,340)	55,337)	45,399)	44,175)	44,883)	40,513)	43,633)	45,600)	39,354)	39,530)	40,132)	22,440)	19,654)	18,796)	20,145)
Current liabilities before client funds obligation	168,267)	180,573)	173,763)	169,331)	143,660)	142,899)	166,428)	143,837)	126,300)	119,836)	125,890)	104,536)	105,444)	83,716)	105,536)	90,744)	82,560)	74,470)	78,245)	60,895)	55,402)	46,769)	46,182)
Client funds obligation	1,901,643)	2,006,154)	2,391,335)	2,207,706)	1,754,095)	3,425,573)	3,946,103)	1,846,573)	2,959,973)	2,025,372)	2,299,684)	1,613,494)	1,522,357)	1,033,535)	1,392,379)	1,662,778)	835,918)	1,126,808)	1,405,465)	967,787)	902,747)	900,287)	1,095,160)
Current liabilities	2,069,910)	2,186,727)	2,565,098)	2,377,037)	1,897,755)	3,568,472)	4,112,531)	1,990,410)	3,086,273)	2,145,208)	2,425,574)	1,718,030)	1,627,801)	1,117,251)	1,497,915)	1,753,522)	918,478)	1,201,278)	1,483,710)	1,028,682)	958,149)	947,056)	1,141,342)
Deferred income tax liabilities, net	145,465)	142,956)	139,661)	141,033)	139,368)	135,282)	134,769)	145,504)	125,228)	119,083)	115,336)	112,598)	102,421)	98,536)	92,609)	91,217)	85,921)	79,642)	73,928)	70,206)	64,206)	59,363)	53,401)
Long-term deferred revenue	105,588)	102,890)	100,297)	97,591)	94,465)	90,960)	87,681)	85,149)	81,702)	77,512)	74,802)	73,259)	71,500)	68,614)	66,795)	65,139)	62,731)	59,922)	57,839)	55,671)	52,405)	49,322)	46,419)
Long-term debt, less current portion	29,000)	29,000)	29,000)	29,000)	29,000)	29,000)	26,945)	27,380)	27,815)	28,250)	28,684)	29,119)	29,554)	29,989)	30,423)	30,858)	31,293)	31,727)	32,179)	32,614)	33,049)	33,486)	33,935)
Other long-term liabilities	84,829)	83,083)	73,095)	75,245)	77,602)	73,850)	73,628)	72,988)	71,679)	70,778)	16,901)	19,263)	21,524)	21,257)	22,195)	19,553)	18,706)	18,861)	16,619)	—)	—)	—)	—)
Long-term liabilities	364,882)	357,929)	342,053)	342,869)	340,435)	329,092)	323,023)	331,021)	306,424)	295,623)	235,723)	234,239)	224,999)	218,396)	212,022)	206,767)	198,651)	190,152)	180,565)	158,491)	149,660)	142,171)	133,755)
Total liabilities	2,434,792)	2,544,656)	2,907,151)	2,719,906)	2,238,190)	3,897,564)	4,435,554)	2,321,431)	3,392,697)	2,440,831)	2,661,297)	1,952,269)	1,852,800)	1,335,647)	1,709,937)	1,960,289)	1,117,129)	1,391,430)	1,664,275)	1,187,173)	1,107,809)	1,089,227)	1,275,097)
Common stock, $0.01 par value	627)	626)	625)	625)	625)	625)	623)	623)	622)	621)	618)	618)	616)	616)	614)	613)	612)	612)	609)	607)	606)	606)	604)
Additional paid-in capital	687,723)	649,965)	608,966)	576,622)	550,302)	517,777)	490,307)	465,594)	441,479)	409,979)	383,502)	357,908)	322,321)	300,408)	275,813)	257,501)	250,853)	246,069)	239,865)	203,680)	198,255)	193,288)	189,302)
Retained earnings	1,410,659)	1,358,059)	1,316,264)	1,196,968)	1,117,017)	1,064,864)	1,007,509)	915,579)	866,892)	836,513)	784,235)	719,619)	695,252)	667,770)	639,181)	576,166)	530,786)	491,634)	442,872)	395,590)	364,176)	335,407)	299,685)
Accumulated other comprehensive loss	(2,181)	(2,993)	(2,853)	(3,703)	(3,813)	(1,600)	(1,119)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Treasury stock, at cost	(675,519)	(598,972)	(588,531)	(587,905)	(587,751)	(587,527)	(488,300)	(488,082)	(483,652)	(454,857)	(422,879)	(422,502)	(385,790)	(382,941)	(315,820)	(307,652)	(307,353)	(303,553)	(284,793)	(265,124)	(202,660)	(199,563)	(156,558)
Stockholders’ equity	1,421,309)	1,406,685)	1,334,471)	1,182,607)	1,076,380)	994,139)	1,009,020)	893,714)	825,341)	792,256)	745,476)	655,643)	632,399)	585,853)	599,788)	526,628)	474,898)	434,762)	398,553)	334,753)	360,377)	329,738)	333,033)
Total liabilities and stockholders’ equity	3,856,101)	3,951,341)	4,241,622)	3,902,513)	3,314,570)	4,891,703)	5,444,574)	3,215,145)	4,218,038)	3,233,087)	3,406,773)	2,607,912)	2,485,199)	1,921,500)	2,309,725)	2,486,917)	1,592,027)	1,826,192)	2,062,828)	1,521,926)	1,468,186)	1,418,965)	1,608,130)

The quarterly financial data reveals multiple significant trends across liabilities and equity items over the examined periods. The analysis covers current liabilities, long-term liabilities, and stockholders’ equity, highlighting fluctuations, growth patterns, and potential areas of financial strategy or risk.

Current Liabilities: The current liabilities, inclusive of accounts payable, accrued commissions, accrued payroll, deferred revenue, and other accrued expenses, exhibit notable volatility and overall growth. Accounts payable fluctuated considerably, peaking in several quarters, with a marked increase at the end of 2022, reaching over $16 million, before retreating in subsequent quarters.; Accrued commissions and bonuses saw a consistent upward trend from early 2018 through 2023, increasing from around $2.6 million to above $20 million, indicating growing incentive compensation expenses, potentially linked to sales growth.; Accrued payroll and vacation liabilities showed steady increases over time, more than tripling from approximately $11 million in early 2018 to over $41 million by late 2023, reflecting expanded workforce commitments or increased employee benefits accruals.; Deferred revenue, both current and long-term, steadily rose, illustrating increased customer prepayments or longer-term contract liabilities. Current deferred revenue grew from about $7.3 million to $22.7 million, with long-term deferred revenue showing a parallel gradual increase.; The current portion of long-term debt remained stable at approximately $1.8 million through 2021 but disappeared from reporting in subsequent periods, possibly due to refinancing or reclassification.; Accrued expenses and other current liabilities also trended upwards, peaking at nearly $79 million by mid-2023, suggesting growing operational expenses or accrued obligations.; The client funds obligation exhibited substantial fluctuations, with an initial decrease from over $1 billion in early 2018 to about $835 million in late 2019, followed by sharp increases and decreases thereafter, reaching peaks above $3.9 billion in early 2022. This metric reflects significant variations in client cash holdings, impacting the total current liabilities and indicating dynamic client activity or business scale changes.; Overall, total current liabilities were marked by volatility and an upward trajectory, nearly doubling from $1.14 billion in early 2018 to over $2 billion by late 2023, largely influenced by the client funds obligation and accrued expenses components.
Long-Term Liabilities: Long-term deferred revenue rose steadily from about $46 million in early 2018 to approximately $106 million in late 2023, consistent with the increasing trend in deferred revenue overall.; Long-term debt, excluding current portions, showed a gradual decline from approximately $34 million to $29 million and then stabilized, indicating gradual repayment or restructuring.; Other long-term liabilities experienced notable growth starting mid-2019, rising from negligible or no balance to around $85 million by late 2023, which could indicate increased long-term contractual obligations or provisions.; Total long-term liabilities increased significantly from about $134 million in early 2018 to nearly $365 million in late 2023, reflecting the aggregate growth in deferred revenue, other liabilities, and relatively stable long-term debt.
Total Liabilities: Total liabilities demonstrated substantial fluctuation, influenced heavily by client funds obligation and accrued expenses. Starting at approximately $1.28 billion in early 2018, liabilities peaked several times, notably reaching over $5.4 billion in early 2022, before trending downward to about $2.4 billion by late 2023.; These movements indicate significant changes in operational scale, client cash balances, and accrued obligations over the periods, with client funds obligation being the primary driver of volatility.
Stockholders’ Equity: Common stock and additional paid-in capital steadily increased, consistent with incremental equity issuances or retained capital increases.; Retained earnings grew consistently from approximately $300 million in early 2018 to over $1.4 billion by late 2023, indicating sustained profitability or retained income over time.; Treasury stock values increased significantly in negative balance, implying substantial stock repurchases; the cost basis grew from around -$156 million to nearly -$676 million, reflecting aggressive buyback activity.; Accumulated other comprehensive loss showed increasing negative balances in later years, suggesting adverse movements in items such as foreign currency translation or other comprehensive income components.; Overall, stockholders’ equity rose from about $333 million in early 2018 to approximately $1.42 billion in late 2023, underpinning strengthened capital base despite increased repurchases and comprehensive losses.
Summary of Financial Position: The combined total of liabilities and stockholders’ equity expanded from roughly $1.6 billion in early 2018 to a peak exceeding $5.4 billion in early 2022 before settling in the $3.8 to $4.2 billion range by 2023. This growth corresponds with increases in both operational scale, as seen in rising deferred revenue and accrued expenses, and expanded equity through retained earnings and additional paid-in capital.; The variability and elevated level of client funds obligation play a critical role in the liability structure, suggesting management attention to client fund management and associated risks.; The increasing treasury stock and accumulated comprehensive losses point to active capital management strategies and exposure to other comprehensive income volatility.

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Paycom Software Inc. (NYSE:PAYC)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data