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.

First Solar Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Accounts payable	207,178)	341,409)	193,374)	183,349)	218,081)
Income taxes payable	22,134)	29,397)	4,543)	14,571)	17,010)
Accrued property, plant and equipment	210,233)	148,777)	42,031)	66,543)	42,834)
Accrued inventory	101,161)	44,679)	42,170)	25,704)	39,366)
Accrued freight	58,494)	77,136)	61,429)	26,580)	—)
Accrued compensation and benefits	55,960)	47,939)	34,606)	51,685)	65,170)
Accrued other taxes	26,781)	19,765)	23,103)	11,648)	—)
Accrued interest	11,011)	2,920)	—)	—)	—)
Product warranty liability	5,920)	10,660)	13,598)	22,278)	20,291)
Other	55,269)	30,906)	71,513)	106,029)	183,599)
Accrued expenses	524,829)	382,782)	288,450)	310,467)	351,260)
Current portion of debt	96,238)	—)	3,896)	41,540)	17,510)
Deferred revenue	413,579)	263,215)	201,868)	188,813)	323,217)
Liabilities held for sale	—)	—)	—)	25,621)	—)
Accrued litigation	21,800)	—)	—)	—)	363,000)
Operating lease liabilities, current	10,307)	9,193)	12,781)	14,006)	11,102)
Finance lease liabilities, current	51)	—)	—)	—)	—)
Contingent consideration	7,500)	—)	—)	—)	—)
Derivative instruments	1,744)	6,668)	3,550)	5,280)	2,582)
Other	798)	5,384)	18,416)	63,751)	14,446)
Other current liabilities	42,200)	21,245)	34,747)	83,037)	391,130)
Current liabilities	1,306,158)	1,038,048)	726,878)	847,398)	1,318,208)
Accrued solar module collection and recycling liability	135,123)	128,114)	139,145)	130,688)	137,761)
Long-term debt, noncurrent portion	464,068)	184,349)	236,005)	237,691)	454,187)
Deferred revenue	1,591,604)	944,725)	95,943)	44,919)	71,438)
Operating lease liabilities, noncurrent	36,662)	40,589)	145,912)	189,034)	112,515)
Finance lease liabilities, noncurrent	17,063)	—)	—)	—)	—)
Deferred tax liabilities, net	42,771)	28,929)	27,699)	23,671)	6,493)
Other taxes payable	39,431)	13,284)	—)	—)	—)
Product warranty liability	19,571)	23,127)	38,955)	72,818)	109,506)
Transition tax liability	—)	—)	—)	—)	70,047)
Contingent consideration	11,000)	—)	—)	—)	4,500)
Other	14,212)	14,008)	43,658)	41,784)	134,267)
Other liabilities	180,710)	119,937)	256,224)	327,307)	437,328)
Noncurrent liabilities	2,371,505)	1,377,125)	727,317)	740,605)	1,100,714)
Total liabilities	3,677,663)	2,415,173)	1,454,195)	1,588,003)	2,418,922)
Common stock, $0.001 par value per share	107)	107)	106)	106)	105)
Additional paid-in capital	2,890,427)	2,887,476)	2,871,352)	2,866,786)	2,849,376)
Accumulated earnings	3,971,066)	3,140,289)	3,184,455)	2,715,762)	2,326,620)
Accumulated other comprehensive loss	(174,131)	(191,817)	(96,362)	(61,726)	(79,334)
Stockholders’ equity	6,687,469)	5,836,055)	5,959,551)	5,520,928)	5,096,767)
Total liabilities and stockholders’ equity	10,365,132)	8,251,228)	7,413,746)	7,108,931)	7,515,689)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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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.	First Solar Inc. current liabilities increased from 2021 to 2022 and from 2022 to 2023.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	First Solar Inc. noncurrent liabilities increased from 2021 to 2022 and from 2022 to 2023.
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.	First Solar Inc. total liabilities increased from 2021 to 2022 and from 2022 to 2023.
Stockholders’ 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.	First Solar Inc. stockholders’ equity decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

First Solar Inc. (NASDAQ:FSLR)

Balance Sheet: Liabilities and Stockholders’ Equity