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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EMC Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).
The financial data exhibits varied trends across the analyzed periods, reflecting fluctuations in both liabilities and shareholders’ equity components.
- Accounts Payable
- Accounts payable showed moderate fluctuations over the examined quarters, with a general upward trend peaking notably at the end of 2014 and early 2015, reaching a maximum of 1696 million US$. This indicates increased short-term obligations during that time, followed by some decline but remaining elevated.
- Accrued Expenses
- Accrued expenses gradually increased across the quarters, with intermittent plateaus. Noteworthy growth appears from 2013 to 2015, peaking in late 2014 and 2015 within the range of approximately 3141 million US$, which may indicate rising accrued liabilities associated with operational costs or obligations.
- Notes Converted and Payable
- This category exhibited significant values only briefly around late 2011 and early 2013, with a sharp figure of 1700 million US$ in the fourth quarter of 2011, followed by reduced or missing data subsequently. This suggests a non-recurring or one-time conversion event impacting liabilities during that period.
- Income Taxes Payable (Current)
- Income taxes payable fluctuated significantly over time, with several spikes, notably in the fourth quarters of 2012 and 2014, reaching values as high as 852 million US$. The variability may be due to periodic tax accruals, settlements, or timing differences in tax payments.
- Short-term Debt
- Short-term debt figures were largely absent until mid-2015, where a marked increase is noticed, peaking at 1970 million US$ in the second quarter of 2016. This indicates an increased reliance on short-term borrowing in the latter periods analyzed.
- Current Portion of Convertible Debt
- This item showed a substantial decline from over 3200 million US$ in early 2011 to around 1600 million US$ by early 2012, remaining stable thereafter and eventually ceasing to report values. This decline suggests partial repayment, conversion, or refinancing of this debt component.
- Deferred Revenue (Current)
- Deferred revenue consistently rose from approximately 3156 million US$ in early 2011 to over 6400 million US$ by mid-2016, displaying steady growth. This implies increasing prepaid customer revenues or advance payments recognized as liabilities.
- Current Liabilities
- Total current liabilities fluctuated but generally increased through the periods, with a high around 12885 million US$ by late 2015 before showing a slight decline. Variable trends in current liabilities reflect dynamics in short-term financial obligations and operational accruals.
- Income Taxes Payable (Non-current)
- Non-current income taxes payable remained relatively stable with minor fluctuations, averaging around 285 million US$, suggesting consistency in longer-term tax liabilities.
- Deferred Revenue (Non-current)
- Non-current deferred revenue increased steadily from near 2065 million US$ to approximately 4750 million US$, indicating a growing deferred revenue base attributable to longer-term obligations or unearned revenues.
- Deferred Income Taxes
- Deferred income taxes declined from 710 million US$ in early 2011 to lower levels under 300 million US$ in later years, with some intermittent variations. The downward trend points to diminishing deferred tax liabilities or changes in tax timing differences.
- Long-term Debt
- Long-term debt appeared notably from 2013 onwards, holding steady around 5490 million US$ across several quarters, suggesting stable long-term borrowing without significant repayment or additional issuance.
- Other Liabilities
- Other liabilities gradually increased from 248 million US$ to around 483 million US$, indicating incremental growth in miscellaneous liabilities over time.
- Convertible Debt (Excluding Current Portion)
- Convertible debt showed a steady declining trend from 206 million US$ in early 2011 to negligible levels by mid-2013, signifying systematic repayment, conversion, or extinguishment of such debt.
- Noncurrent Liabilities
- Noncurrent liabilities experienced moderate growth, with a notable jump starting 2013 reaching beyond 10,000 million US$, reflecting significant increases likely tied to long-term borrowings or deferred liabilities.
- Total Liabilities
- The total liabilities showed an upward movement across the analyzed period, with a pronounced rise after 2013 peaking near 23,893 million US$ by late 2015, indicating increased overall obligations.
- Common Stock and Additional Paid-in Capital
- Common stock values remained largely constant around 20 to 21 million US$, suggesting no major equity share issuances. Additional paid-in capital showed a declining trend from over 3500 million US$ in 2011 to below 1000 million US$ in later periods, possibly reflecting share buybacks or reclassifications.
- Retained Earnings
- Retained earnings grew steadily from roughly 14,000 million US$ to around 22,600 million US$ by mid-2016, reflecting accumulated net income retained rather than paid out as dividends.
- Accumulated Other Comprehensive Loss
- This account showed an increasing negative balance over time, expanding from -57 million US$ to approximately -561 million US$, indicating increasing losses recognized in other comprehensive income components.
- Total Shareholders’ Equity
- Total shareholders’ equity increased over the observed periods from about 18,300 million US$ in early 2011 to 24,155 million US$ by mid-2016, demonstrating overall growth in net assets attributable to shareholders.
- Non-controlling Interests
- Non-controlling interests increased consistently from 806 million US$ to over 2000 million US$, suggesting expanding ownership interests held by minority shareholders in subsidiaries.
- Total Liabilities and Shareholders’ Equity
- The summation of liabilities and shareholders’ equity grew steadily from approximately 31,187 million US$ to around 46,745 million US$ by mid-2016, indicative of an expanding balance sheet and overall company growth in assets and financing.