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United Technologies Corp. (UTX)


Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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United Technologies Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Short-term borrowings 1.09 0.40 0.67 1.06 0.14
Accounts payable 8.26 9.88 8.34 7.86 7.63
Advances on sales contracts and service billings 0.00 4.69 4.70 4.52 5.76
Accrued salaries, wages and employee benefits 1.55 1.80 1.79 1.76 2.09
Service and warranty accruals 0.56 0.65 0.62 0.62 0.58
Interest payable 0.47 0.45 0.44 0.45 0.55
Litigation and contract matters 0.34 0.45 0.54 0.55 0.55
Income taxes payable 0.34 0.29 0.43 2.86 0.34
Accrued property, sales and use taxes 0.21 0.27 0.32 0.33 0.31
Canadian government settlement, current portion 0.03 0.22 0.27 0.28 0.00
Accrued restructuring costs 0.19 0.22 0.23 0.38 0.29
Accrued workers compensation 0.11 0.21 0.23 0.24 0.30
Liabilities held for sale 0.03 0.00 0.00 0.00 0.00
Other 3.80 3.46 4.04 4.74 4.56
Accrued liabilities 7.62% 12.71% 13.62% 16.73% 15.34%
Contract liabilities, current 4.26 0.00 0.00 0.00 0.00
Long-term debt currently due 2.14 2.17 1.79 0.20 1.97
Current liabilities 23.37% 25.17% 24.42% 25.85% 25.08%
Long-term debt, excluding currently due 30.69 25.78 24.19 22.08 19.58
Future pension and postretirement benefit obligations 2.99 3.13 6.26 6.88 7.32
Other long-term liabilities 12.60 13.36 12.29 12.07 12.20
Long-term liabilities 46.29% 42.28% 42.73% 41.04% 39.10%
Total liabilities 69.66% 67.45% 67.15% 66.89% 64.18%
Redeemable noncontrolling interest 0.08 0.14 0.33 0.14 0.15
Preferred Stock, $1 par value; none issued or outstanding 0.00 0.00 0.00 0.00 0.00
Common Stock, $1 par value 16.78 18.13 19.27 18.33 16.76
Treasury Stock, common shares at average cost -24.20 -36.73 -38.07 -35.33 -24.01
Retained earnings 43.08 57.00 58.94 57.10 48.87
Unearned ESOP shares -0.06 -0.09 -0.11 -0.12 -0.13
Accumulated other comprehensive loss -6.95 -7.76 -9.29 -8.71 -7.30
Shareowners’ equity 28.65% 30.55% 30.74% 31.27% 34.19%
Noncontrolling interest 1.61 1.87 1.77 1.70 1.48
Total equity 30.26% 32.42% 32.52% 32.97% 35.67%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-09), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-05).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. United Technologies Corp.’s current liabilities as a percentage of total liabilities and equity increased from 2016 to 2017 but then declined significantly from 2017 to 2018.
Long-term liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. United Technologies Corp.’s long-term liabilities as a percentage of total liabilities and equity declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. United Technologies Corp.’s total liabilities as a percentage of total liabilities and equity increased from 2016 to 2017 and from 2017 to 2018.
Shareowners’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. United Technologies Corp.’s shareowners’ equity as a percentage of total liabilities and equity declined from 2016 to 2017 and from 2017 to 2018.