Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
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Raytheon Co., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
- Current liabilities
- There is a steady upward trend in current liabilities as a percentage of total liabilities and equity, increasing from 20.92% in 2015 to 28.33% in 2019. This suggests growing short-term obligations and possibly increased reliance on short-term funding. The components within current liabilities show mixed movements: contract liabilities rose from 7.49% to a peak of 10.38% in 2018 before slightly declining to 9.45% in 2019; accounts payable fluctuated but increased overall from 4.79% to 5.2%; accrued employee compensation consistently increased from 3.94% to 5.25%; and other current liabilities decreased from 4.7% to 4.1%.
- Long-term liabilities
- Long-term liabilities declined moderately, from 42.59% in 2015 to 36.22% in 2019. The long-term debt component specifically showed a marked decrease from 18.2% to 9.43%, indicating a reduction in long-term borrowings. Accrued retiree benefits and other long-term liabilities displayed a fluctuating pattern, rising initially to 26.85% in 2017, falling to 21.77% in 2018, and increasing again to 24.74% in 2019. The inclusion of operating lease liabilities in 2019, amounting to 2.04%, represents a new liability category adding to noncurrent obligations.
- Total liabilities
- Total liabilities as a proportion of total liabilities and equity remain relatively stable around the mid-sixties percentage range, with slight fluctuations between 63.51% and 66.06%. This stability, despite changes within the components, suggests offsetting movements between current and long-term liabilities.
- Redeemable noncontrolling interests
- These interests rose gently from 1.21% in 2015 to 1.66% in 2017, then dropped notably to 0.09% in 2019, indicating a diminished stake or redemption of interests held by minority shareholders.
- Stockholders’ equity
- Total equity shows a general decline from 35.28% in 2015 to 32.28% in 2017, followed by a recovery to 36% in 2018 and a slight decrease to 35.36% in 2019. Retained earnings form the largest equity component and increased from 57.73% in 2015 to a peak of 63.04% in 2018 before a slight decline to 62.14% in 2019, reflecting accumulated profits retained within the company. The accumulated other comprehensive loss consistently increased in magnitude (negative values growing), from -24.51% to -26.79%, indicating growing unrealized losses or other comprehensive loss factors impacting overall equity negatively. Common stock value remained constant and negligible, while the additional paid-in capital data is partially unavailable but showed 1.36% in 2015.
- Overall structure and implications
- The financial structure reflects a gradual shift with increasing current liabilities and decreasing long-term debt, possibly indicating a refinement in financing strategy or changes in working capital management. The stable total liabilities proportion and recovery in equity after 2017 suggest maintained financial balance. The increase in accrued employee compensation and contract liabilities points towards higher operational or contractual obligations. The sustained negative comprehensive loss indicates persistent challenges affecting equity valuation beyond net income. The reduction in redeemable noncontrolling interests highlights decreased minority shareholder influence or ownership changes.