Stock Analysis on Net
Stock Analysis on Net

Twitter Inc. (NYSE:TWTR)

$22.49

This company has been moved to the archive! The financial data has not been updated since July 26, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Twitter Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Accounts payable
Accrued compensation
Federal Trade Commission accrual
Deferred revenue
Accrued tax liabilities
Accrued publisher, content and ad network costs
Accrued professional services
Accrued other
Accrued and other current liabilities
Convertible notes, short-term
Operating lease liabilities, short-term
Finance lease liabilities, short-term
Current liabilities
Convertible notes, long-term
Senior notes, long-term
Operating lease liabilities, long-term
Finance lease liabilities, long-term
Deferred and other long-term tax liabilities, net
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.000005 par value; none issued and outstanding
Common stock, $0.000005 par value
Additional paid-in capital
Treasury stock, at cost
Accumulated other comprehensive loss
Retained earnings (accumulated deficit)
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Liabilities Trends
Over the analyzed period, total liabilities as a percentage of total liabilities and stockholders’ equity increased significantly, rising from 31.91% in 2017 to 48.03% in 2021. This indicates a growing reliance on liabilities in the company’s capital structure.
Current liabilities exhibited volatility, peaking at 14.92% in 2018, dropping to 6.55% in 2019, rising again to 14.6% in 2020, and then decreasing to 9.56% in 2021. Such fluctuations may suggest ongoing adjustments in short-term obligations.
Within current liabilities, accrued and other current liabilities rose steadily from 4.42% in 2017 to 6.53% in 2021, indicating an increase in short-term obligations related to accrued expenses.
Short-term convertible notes appeared only in 2018 and 2020 at 8.83% and 6.86% respectively, suggesting episodic short-term debt financing.
Operating lease liabilities, both short-term and long-term, consistently increased from their initial recorded values in 2019, with long-term operating lease liabilities growing from 4.8% in 2019 to 7.62% in 2021. This trend reflects expanding lease commitments over time.
Long-term liabilities increased notably from 24.04% in 2017 to 38.47% in 2021. This growth was driven primarily by an increase in long-term convertible notes, which rose from 21.96% in 2017 to 25.31% in 2021, following a decline through 2019.
Senior notes, long-term, were introduced in 2019 and remained relatively stable around 5% during subsequent years, contributing to the long-term debt structure.
Finance lease liabilities, both short-term and long-term, declined over the period, with short-term finance lease liabilities reducing to zero by 2020 and long-term finance lease liabilities disappearing after 2018. This reflects a shift away from finance leases.
Equity Trends
Stockholders’ equity as a proportion of total liabilities and stockholders’ equity decreased steadily from 68.09% in 2017 to 51.97% in 2021, indicating a diminishing equity base relative to liabilities.
Additional paid-in capital decreased consistently from 104.56% in 2017 to 59.97% in 2021, signaling less capital contribution or dilution over time relative to the entity’s total capitalization.
Retained earnings, which were negative in 2017 and 2018, turned slightly positive in 2019 but reverted to negative figures again in 2020 and 2021, though improved slightly from -8.41% to -7.13%. This pattern suggests ongoing net losses or distribution exceeding accumulated earnings.
Treasury stock values appeared only in 2020 and 2021, maintaining a small negative impact (-0.04%), implying limited repurchases or adjustments in outstanding shares.
Accumulated other comprehensive loss fluctuated, with a peak negative value of -0.83% in 2021, reflecting greater unrealized losses or unfavorable changes in other comprehensive income components.
Specific Accrued Liabilities
Accrued compensation displayed variation, increasing notably in 2021 to 2.31% from lower levels around 1.3-1.5% in previous years, indicating higher employee-related obligations.
Federal Trade Commission accrual was recorded only in 2020 and 2021 at approximately 1.1%, likely corresponding to regulatory or legal reserves established in those years.
Deferred revenue remained relatively stable around 0.4-0.56%, showing modest growth across the period.
Accrued tax liabilities decreased gradually from 0.49% in 2017 to a low of 0.3% in 2020, with a slight rise to 0.34% in 2021, indicating some variation in tax-related payable obligations.
Accrued publisher, content, and ad network costs stayed fairly constant near 0.32-0.44%, indicating stable commitments in those areas.
Accrued professional services liabilities were recorded from 2019 onwards, fluctuating between 0.2% and 0.3%, suggesting the company incurred professional service expenses in those years.
Accrued other liabilities showed a decline up to 2019 but then increased notably to 1.64% in 2021, reflecting a rebound in miscellaneous accrued expenses.