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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- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Medtronic PLC, consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-07-25), 10-K (reporting date: 2025-04-25), 10-Q (reporting date: 2025-01-24), 10-Q (reporting date: 2024-10-25), 10-Q (reporting date: 2024-07-26), 10-K (reporting date: 2024-04-26), 10-Q (reporting date: 2024-01-26), 10-Q (reporting date: 2023-10-27), 10-Q (reporting date: 2023-07-28), 10-K (reporting date: 2023-04-28), 10-Q (reporting date: 2023-01-27), 10-Q (reporting date: 2022-10-28), 10-Q (reporting date: 2022-07-29), 10-K (reporting date: 2022-04-29), 10-Q (reporting date: 2022-01-28), 10-Q (reporting date: 2021-10-29), 10-Q (reporting date: 2021-07-30), 10-K (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-29), 10-Q (reporting date: 2020-10-30), 10-Q (reporting date: 2020-07-31), 10-K (reporting date: 2020-04-24), 10-Q (reporting date: 2020-01-24), 10-Q (reporting date: 2019-10-25), 10-Q (reporting date: 2019-07-26).
- Current debt obligations
- The current debt obligations exhibit high volatility throughout the periods analyzed. There are significant spikes in July 2020 and July 2022, reaching values above 5 billion US dollars, contrasting sharply with notably low figures such as those in April 2021 and April 2023 with values under 30 million US dollars. The pattern suggests occasional, large-scale short-term borrowings or repayments, indicating fluctuating liquidity management strategies.
- Accounts payable
- Accounts payable remained relatively stable over the multiple quarters, fluctuating moderately mostly between 1.7 billion and 2.4 billion US dollars. There are no extreme spikes or drops, suggesting consistent management of payables and supplier credit over time.
- Accrued compensation
- Accrued compensation increased from mid-2019, peaking around January 2021 at roughly 2.5 billion US dollars, then experienced a downturn until late 2022, followed by a rebound in late 2023 and early 2024. This trend reflects changes in compensation obligations, possibly linked to workforce fluctuations or bonus accrual adjustments.
- Accrued income taxes (current and noncurrent)
- Current accrued income taxes showed an overall increasing trend from approximately 390 million US dollars in mid-2020 to over 1.3 billion US dollars by early 2024, with some fluctuations. Noncurrent accrued income taxes decreased gradually from about 2.8 billion in mid-2019 to around 1.5 billion by early 2024. These opposing movements may reflect timing differences in tax payments and liabilities.
- Other accrued expenses
- Other accrued expenses fluctuate within a range between 3.0 and 4.0 billion US dollars, demonstrating relative stability with minor peaks around 2021 and 2023. The consistency points to steady non-compensation related expenses accrued over time.
- Current liabilities
- Current liabilities reached a peak in July 2020 and again in mid-2022, exceeding 14 billion US dollars. Periods in 2021 and early 2023 show significant declines below 10 billion US dollars. This indicates variability in short-term obligations, possibly linked to operational cycles or restructuring of short-term debt.
- Long-term debt
- Long-term debt remained largely stable near 24 to 26 billion US dollars, with a slight decrease from mid-2019 through 2022 followed by a recovery towards 26 billion by mid-2025. The relative stability suggests consistent long-term financing with limited large-scale issuances or repayments during the period.
- Accrued compensation and retirement benefits
- These liabilities gradually decreased from about 1.6 billion US dollars in 2019 to a low near 1.0 billion by late 2023, with minor fluctuations afterward. The decline suggests lower accumulated obligations related to employee benefits over time.
- Deferred tax liabilities
- Deferred tax liabilities show a consistent gradual decline throughout the period, dropping from around 1.3 billion to approximately 400 million US dollars. This trend implies a systematic reduction in future tax obligations, possibly due to changes in tax regulations or asset basis adjustments.
- Other liabilities
- Other liabilities remain comparatively stable, fluctuating slightly between 1.3 and 1.8 billion US dollars without clear upward or downward trend, indicating ongoing obligations under various categories.
- Noncurrent liabilities
- Noncurrent liabilities experienced a peak in early 2021 near 33.8 billion US dollars, then declined to approximately 23 billion by mid-2022, followed by a rebound up to over 31 billion by mid-2025. This reflects dynamic long-term obligations, possibly including debt refinancing and other long-term commitments.
- Total liabilities
- Total liabilities fluctuate moderately between 38 billion and 46 billion US dollars. Peaks occur in mid-2020 and mid-2022, with declines in early 2021 and early 2023. The overall range signals persistent leverage with short-term variability due to current and noncurrent liabilities movements.
- Additional paid-in capital
- Additional paid-in capital remains relatively flat with slight decreases from 26.5 billion US dollars in 2019 to around 20.8 billion by mid-2025, indicating minimal equity issuances or repurchases affecting this component during the period.
- Retained earnings
- Retained earnings trend upward over time, increasing from approximately 26.4 billion US dollars in 2019 to over 31.6 billion by mid-2025. The steady rise reflects accumulated profits retained in the business despite some periods of stagnation or slight decline.
- Accumulated other comprehensive loss
- This item worsens significantly over time, with the loss expanding from about -2.5 billion US dollars in 2019 to nearly -4.6 billion by mid-2025. The increasing comprehensive loss suggests growing unrealized losses, potentially linked to foreign currency, pension liabilities, or investment valuations.
- Shareholders’ equity
- Shareholders’ equity remains broadly stable around 50 billion US dollars, with minor fluctuations and a slight decrease observed in the latter periods of the data. Despite upward trends in retained earnings, equity is tempered by increasing comprehensive losses and other factors impacting the net equity.
- Noncontrolling interests
- Noncontrolling interests show a steady increase from about 134 million US dollars in 2019 to roughly 240 million by mid-2025, indicating growing minority stakes in consolidated entities.
- Total equity
- Total equity follows a similar pattern as shareholders’ equity, broadly stable with a slight decreasing trend towards mid-2025. The equity base remains robust, providing a substantial cushion relative to liabilities.
- Total liabilities and equity
- The sum of liabilities and equity remains relatively constant near 90 to 93 billion US dollars, indicating steady total capital employed with fluctuations balanced between liabilities and equity components.