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.
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- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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RTX Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-03), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data reveals several notable trends and fluctuations in liabilities, equity, and other financial obligations over the periods analyzed. These movements provide insights into the company's financial position and operational dynamics.
- Short-term Borrowings
- The short-term borrowings exhibit high volatility, with sharp declines from $1,725 million in March 2020 to values consistently below $250 million during most quarters in 2020 and 2021. A significant spike occurs in September 2022 at $2,195 million, followed by irregular fluctuations in subsequent quarters, indicating intermittent reliance on short-term financing.
- Accounts Payable
- Accounts payable demonstrate a generally upward trend, increasing from $10,976 million in March 2020 to $13,444 million by March 2025. Despite quarterly fluctuations, this indicates a gradual rise in obligations to suppliers and vendors, reflecting possibly increased purchasing activity or extended payment terms over time.
- Accrued Employee Compensation
- Data from late 2020 onwards show fluctuations ranging from $1,867 million to $2,673 million without a clear trend. The oscillations suggest variability in compensation accruals, possibly linked to seasonal factors or changes in workforce compensation structures.
- Other Accrued Liabilities
- Other accrued liabilities remain substantial, fluctuating between approximately $10,000 million and $17,000 million, with peaks notably in late 2023 and 2024. This variability reflects ongoing operational accruals and other short-term obligations.
- Contract Liabilities
- Contract liabilities show a steady upward movement from $6,384 million in March 2020 to $19,038 million in March 2025. This consistent growth indicates increased deferred revenue or customer advances, suggesting robust contractual revenues or changes in contract accounting policies.
- Long-Term Debt Currently Due
- The portion of long-term debt currently due varies substantially, with initial fluctuations between $1,362 million and $24 million during 2020 and 2021. From 2023 onwards, there is an increase up to peaks of $3,113 million in September 2024 before receding. These changes likely reflect debt maturities and refinancing activities.
- Current Liabilities
- Current liabilities maintain a gradually rising trajectory, from $31,502 million in March 2020 to $52,624 million in March 2025, with some peaks around 2023 and 2024. This growth aligns with increases in accounts payable and accrued obligations, pointing to an expanding short-term obligation base.
- Long-Term Debt (Excluding Currently Due)
- A downward trend in long-term debt, excluding the current portion, is evident, declining from $43,232 million in March 2020 to $38,244 million in March 2025. There is a notable rise in late 2023 to $42,355 million which then resumes the downward trend. This suggests active debt management, possibly debt repayments outweighing new issuances.
- Operating Lease Liabilities, Non-Current
- Operating lease liabilities remain relatively stable, fluctuating narrowly between $1,412 million and $2,126 million. This stability may reflect consistent lease obligations without significant modifications.
- Future Pension and Postretirement Benefit Obligations
- These obligations show a marked decline from a peak of $14,972 million in June 2020 to $2,060 million in March 2025, indicating substantial reductions possibly due to funding improvements, actuarial changes, or settlements.
- Other Long-Term Liabilities
- Other long-term liabilities decline gradually from $17,457 million in March 2020 to approximately $6,946 million by March 2025, reflecting a steady reduction in miscellaneous long-term obligations.
- Long-Term Liabilities
- Overall long-term liabilities decrease from $66,040 million in March 2020 to $48,896 million in March 2025, indicating a deleveraging trend over the five-year period despite some intermittent increases.
- Total Liabilities
- Total liabilities decrease from $97,542 million in March 2020 to around $101,520 million in March 2025, showing relatively stable total obligations with periods of fluctuation, particularly an increase during 2023 and early 2024.
- Equity Components
- Common stock values increase modestly from $23,099 million in March 2020 to $37,515 million in March 2025, indicating limited share issuance or capital increases. Treasury stock exhibits a substantial increase in negative balance, especially from mid-2022 onward, reaching about -$27,069 million by March 2025, signifying significant share repurchases or retirements.
- Retained Earnings
- Retained earnings remain relatively stable, generally fluctuating around $50,000 million to $54,000 million without a clear directional trend, implying consistent earnings retention and possible distribution patterns.
- Accumulated Other Comprehensive Loss
- This figure shows fluctuations with some periods of decrease and increase, ending at around -$3,207 million in March 2025, indicating ongoing unrealized losses or adjustments impacting comprehensive income.
- Total Equity
- Total equity increases sharply in early periods, peaking above $74,000 million in late 2022, followed by a significant decline to around $61,316 million by March 2025. This drop in equity corresponds with increased treasury stock purchases and probable market or operational challenges affecting equity valuation.
- Overall Financial Position
- The combined total of liabilities, redeemable noncontrolling interest, and equity remains broadly consistent around the $160,000 million to $165,000 million range, suggesting a stable total capitalization size despite internal shifts between liabilities and equity accounts.