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.
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Motorola Solutions Inc. pages available for free this week:
- Income Statement
- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Aggregate Accruals
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Motorola Solutions Inc., consolidated balance sheet: liabilities and stockholders’ equity
US$ in millions
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).
The analysis of the annual financial data reveals several notable trends and changes in the company's liabilities and equity positions from 2019 to 2023.
- Current Liabilities
- The current liabilities showed a consistent increase from US$3,439 million in 2019 to US$5,736 million in 2023. Particularly, the current portion of long-term debt surged drastically to US$1,313 million in 2023 from just US$1 million in 2022. Accounts payable increased moderately, peaking at US$1,062 million in 2022 before declining to US$881 million in 2023. Contract liabilities also rose steadily from US$1,449 million in 2019 to US$2,037 million in 2023, reflecting growing obligations related to customer contracts.
- Compensation and Other Liabilities
- Compensation expenses increased gradually over the period, reaching US$407 million in 2023. Accrued liabilities climbed from US$1,356 million in 2019 to a peak of US$1,638 million in 2022, followed by a slight reduction to US$1,504 million in 2023. Other current liabilities declined steadily from US$521 million in 2019 to US$349 million in 2023.
- Long-term Liabilities
- Long-term debt excluding the current portion increased from US$5,113 million in 2019 to US$6,013 million in 2022, then decreased significantly to US$4,705 million in 2023, indicating repayment or refinancing activity. Non-current operating lease liabilities declined from US$497 million in 2019 to US$407 million in 2023, with some fluctuation. Defined benefit plans liabilities notably decreased from US$1,524 million in 2019 to US$939 million in 2023, reflecting lower pension or retirement-related obligations.
- Contract and Tax-related Liabilities
- Non-current contract liabilities rose steadily from US$274 million in 2019 to US$424 million in 2023, consistent with the increase in contract-related obligations. Tax liabilities more than doubled from US$95 million in 2019 to US$231 million in 2023, with a peak of US$367 million in 2022, indicating variability in tax accruals and obligations.
- Other Non-current Liabilities
- Other liabilities decreased from US$2,276 million in 2019 to US$1,741 million in 2023. Deferred income taxes fell significantly from US$184 million in 2019 to US$55 million in 2023. Unrecognized tax benefits also declined gradually over the period, suggesting reduced uncertainty in tax positions.
- Total Liabilities
- Total liabilities increased from US$11,325 million in 2019 to a high of US$12,683 million in 2022, slightly decreasing to US$12,597 million in 2023, indicating overall growth with some stabilization recently.
- Stockholders’ Equity
- Stockholders’ equity improved substantially over the period, moving from a deficit of US$700 million in 2019 to a positive balance of US$724 million in 2023. This improvement was driven primarily by sustained increases in additional paid-in capital, rising from US$499 million in 2019 to US$1,622 million in 2023, and growth in retained earnings from US$1,239 million to US$1,640 million. Despite this positive trend, accumulated other comprehensive loss remained large and relatively stable, around negative US$2,500 million, indicating ongoing unrealized losses or valuation adjustments affecting equity.
- Total Liabilities and Stockholders’ Equity
- Total financing sources increased steadily from US$10,642 million in 2019 to US$13,336 million in 2023, reflecting growth in both debt and equity financing to support company operations and investments.
In summary, the company exhibited growth in liabilities, particularly current liabilities and contract-related obligations over the analyzed period while managing to improve its equity position from a deficit to a positive balance. The significant rise in current portion of long-term debt in 2023 stands out as a noteworthy change, alongside a strategic reduction in long-term debt excluding current portion. Overall, the financial structure shows an increase in capital resources and liabilities with an improving equity base.