Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Williams-Sonoma Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2024-04-28), 10-K (reporting date: 2024-01-28), 10-Q (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-K (reporting date: 2023-01-29), 10-Q (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-K (reporting date: 2022-01-30), 10-Q (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-K (reporting date: 2021-01-31), 10-Q (reporting date: 2020-11-01), 10-Q (reporting date: 2020-08-02), 10-Q (reporting date: 2020-05-03), 10-K (reporting date: 2020-02-02), 10-Q (reporting date: 2019-11-03), 10-Q (reporting date: 2019-08-04), 10-Q (reporting date: 2019-05-05), 10-K (reporting date: 2019-02-03), 10-Q (reporting date: 2018-10-28), 10-Q (reporting date: 2018-07-29), 10-Q (reporting date: 2018-04-29).
- Current Liabilities
- The proportion of current liabilities relative to total liabilities and stockholders’ equity fluctuates, reaching a peak of nearly 41.93% around mid-2022 and dipping to its lowest near 29.41% during mid-2019. This indicates variability in short-term obligations, with a general trend of increased current liabilities from 2018 through 2022, followed by some recent declines.
- Accounts Payable
- Accounts payable as a percentage of total liabilities and equity shows some volatility, with values ranging from a low of 8.31% in August 2020 to highs exceeding 17.94% in late 2018. Recent quarters towards 2024 show a decline, falling below 10% by early 2024, suggesting tighter management or reduction of trade payables.
- Accrued Expenses
- Accrued expenses demonstrate a fluctuating pattern with peaks around 6.92% in early 2022 and lows around 2.88% in May 2019. The data shows a general increase from 2018 through early 2022, followed by a modest decrease into 2024, reflecting changing timing or magnitude of accrued liabilities.
- Gift Card and Other Deferred Revenue
- The percentage attributed to gift card and deferred revenue generally increases over the analyzed periods, starting near 9.66% in 2018, dipping slightly in 2020, then climbing to reach approximately 11.56% by early 2024. This suggests a growing balance of unearned revenue, possibly reflecting expanded customer base or sales strategies.
- Income Taxes Payable
- Income taxes payable remain relatively low and variable, from as low as 0.33% in late 2019 to a recent high near 3% in 2022. The fluctuations likely indicate changing tax liabilities corresponding to profitability and tax planning within the periods.
- Current Debt and Revolving Credit
- Current debt data is incomplete but notes a significant proportion (7.4%) in early 2020 and another entry of 6.42% around the same period, indicating short-term borrowings. Borrowings under revolving credit lines appear notably during mid-2018 and spikes sharply to over 11% in mid-2020, suggesting increased reliance on short-term credit facilities during that time.
- Operating Lease Liabilities
- Current operating lease liabilities show a decreasing trend from approximately 6% in mid-2019 to about 4.45% by early 2024. Similarly, long-term operating lease liabilities decline from over 30% in 2019 to near 21.56% in early 2024. This consistent decrease indicates either lease term expirations or shifts in leasing strategy, reducing related obligations over time.
- Other Current and Long-Term Liabilities
- Other current liabilities remain relatively stable, fluctuating between approximately 1.74% and 2.32%, showing minor systemic changes. Other long-term liabilities, however, show a marked decrease from over 10% in 2018 to below 3% from 2019 onwards, stabilizing near 2.27% by early 2024, suggesting restructuring or payoff of certain long-term obligations.
- Long-term Debt
- Long-term debt decreases from around 11.27% in 2018 to just under 7% by 2020, with data not available subsequently, indicating a reduction in long-term borrowings or a reclassification of debt.
- Total Liabilities
- Total liabilities peak around 71.44% in late 2019, remain elevated above 64% through most of the timeline, then gradually reduce towards 57.18% by early 2024. This downward trend in total liabilities as a percentage of total capital structure suggests improved leverage or increased equity financing.
- Stockholders’ Equity
- Equity proportion conversely trends opposite to liabilities, moving from roughly 45.06% in 2018 down to near 28.56% in late 2019, then generally rising to exceed 42.82% by early 2024. This increase indicates strengthening equity base, potentially from retained earnings growth or capital infusions.
- Retained Earnings
- Retained earnings show notable fluctuation, initially around 24.04% in 2018, dipping to near 13.9% by late 2019, then reversing trend to increase significantly to over 33% by early 2024. This growth signals accumulation of net income over time and reinvestment into the company.
- Additional Paid-in Capital
- Additional paid-in capital declines steadily from above 21% in 2018 to around 10.11% by early 2024, indicating no recent significant equity issuances and possible buybacks or amortization reducing the proportional amount.
- Accumulated Other Comprehensive Loss and Treasury Stock
- Accumulated other comprehensive loss remains relatively minor throughout, fluctuating slightly in negative territory, suggesting stable other comprehensive income items. Treasury stock values are negligible and stable, indicating little change in shares repurchased or retired.