Balance Sheet: Liabilities and Stockholders’ Equity

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.

Cintas Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019
Accounts payable	339,166)	302,292)	251,504)	230,786)	230,995)	226,020)
Accrued compensation and related liabilities	214,130)	239,086)	236,992)	241,469)	127,417)	155,509)
Insurance reserve	176,758)	155,046)	163,958)	156,447)	165,427)	165,667)
Employee benefit related liabilities	188,367)	167,095)	146,237)	129,348)	134,846)	123,794)
Dividends	137,609)	117,565)	97,525)	79,135)	—)	—)
Estimated legal reserves	45,000)	27,000)	—)	—)	—)	—)
Accrued interest	15,050)	15,151)	15,448)	24,420)	24,538)	24,687)
Other	198,499)	150,647)	165,780)	129,560)	131,842)	119,792)
Accrued liabilities	761,283)	632,504)	588,948)	518,910)	456,653)	433,940)
Income taxes, current	18,618)	12,470)	—)	—)	27,099)	—)
Operating lease liabilities, current	45,727)	43,710)	43,872)	43,850)	43,031)	—)
Debt due within one year	449,595)	—)	311,574)	899,070)	—)	312,264)
Current liabilities	1,828,519)	1,230,062)	1,432,890)	1,934,085)	885,195)	1,127,733)
Debt due after one year	2,025,934)	2,486,405)	2,483,932)	1,642,833)	2,539,705)	2,537,507)
Deferred income taxes	475,512)	498,356)	473,777)	386,647)	388,579)	438,179)
Operating lease liabilities, long-term	146,824)	138,278)	129,064)	130,774)	122,695)	—)
Accrued liabilities	375,656)	329,269)	319,397)	454,637)	498,509)	330,522)
Long-term liabilities	3,023,926)	3,452,308)	3,406,170)	2,614,891)	3,549,488)	3,306,208)
Total liabilities	4,852,445)	4,682,370)	4,839,060)	4,548,976)	4,434,683)	4,433,941)
Preferred stock, no par value, none outstanding	—)	—)	—)	—)	—)	—)
Common stock, no par value, and paid-in capital	2,305,301)	2,031,542)	1,771,917)	1,516,202)	1,274,210)	1,068,256)
Retained earnings	10,617,955)	9,597,315)	8,719,163)	7,877,015)	7,296,509)	6,691,236)
Treasury stock	(8,698,085)	(7,842,649)	(7,290,801)	(5,736,258)	(5,182,137)	(4,717,619)
Accumulated other comprehensive income (loss)	91,201)	77,778)	107,917)	30,888)	(153,380)	(39,152)
Shareholders’ equity	4,316,372)	3,863,986)	3,308,196)	3,687,847)	3,235,202)	3,002,721)
Total liabilities and shareholders’ equity	9,168,817)	8,546,356)	8,147,256)	8,236,823)	7,669,885)	7,436,662)

Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).

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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.	Cintas Corp. current liabilities decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Long-term liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Cintas Corp. long-term liabilities increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.
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.	Cintas Corp. total liabilities decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Shareholders’ 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 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.	Cintas Corp. shareholders’ equity increased from 2022 to 2023 and from 2023 to 2024.

Cintas Corp. (NASDAQ:CTAS)

Balance Sheet: Liabilities and Stockholders’ Equity