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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- Income Statement
- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Selected Financial Data since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
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RTX Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 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).
An examination of the balance sheet information reveals notable trends in liabilities and equity over the observed period, spanning from March 2021 to December 2025. Total liabilities generally remained stable between 2021 and 2022, with a slight increase observed in the first half of 2022 before decreasing towards the end of 2022. A significant increase in total liabilities occurred in 2023, continuing into 2024, before stabilizing and showing a slight increase in 2025.
Within liabilities, short-term borrowings exhibited considerable volatility. After a period of relative stability, a substantial increase occurred in September 2022, followed by a decrease, and then another significant increase in March 2025. Accounts payable demonstrated a consistent upward trend throughout the period, increasing from approximately $9.182 billion in March 2021 to $15.895 billion in December 2025. Accrued employee compensation also showed an increasing trend, with fluctuations, reaching $3.308 billion in December 2025. Other accrued liabilities increased substantially from 2021 to 2023, then decreased slightly in 2024 and 2025. Contract liabilities also exhibited a steady increase over the entire period, reaching $21.615 billion in December 2025.
Long-term debt remained relatively stable between 2021 and 2023, with a notable increase in 2023. Operating lease liabilities and future pension/postretirement benefit obligations generally decreased over the period. Total equity experienced a decrease in 2023, followed by a recovery and continued growth in 2024 and 2025.
- Current Ratio Trend
- While the current ratio cannot be directly calculated from the provided information, the increasing trend in current liabilities coupled with a more moderate increase in current assets (inferred from the overall asset/liability balance) suggests a potential decline in the current ratio over time. This warrants further investigation with complete balance sheet information.
- Debt Levels
- Long-term debt, excluding current portions, remained relatively consistent for much of the period, but experienced a significant jump in late 2023. This increase, combined with the fluctuations in short-term borrowings, indicates a dynamic debt management strategy. The overall debt levels, as a proportion of total liabilities, appear to have increased in 2023 and 2024.
- Equity Composition
- The composition of equity shows a decrease in retained earnings in 2023, likely due to dividend payouts or other distributions, followed by a recovery and growth in subsequent periods. Treasury stock consistently represents a significant reduction in equity, increasing in magnitude over time. The redeemable noncontrolling interest remained relatively stable throughout the period.
- Overall Financial Position
- The company’s financial position demonstrates increasing liabilities, particularly accounts payable and contract liabilities, alongside fluctuating equity levels. The substantial increase in total liabilities in 2023 and 2024, coupled with the decrease in equity in 2023, suggests a potential increase in financial leverage. The subsequent recovery in equity in 2024 and 2025 is a positive sign, but continued monitoring of debt levels and equity trends is recommended.