Marvell Technology Group Ltd.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)

January 30,

January 31,

Assets

2016 (a)

2015

(Preliminary)

Current assets:

Cash, cash equivalents and short-term investments

$   2,282,749

$  2,529,555

Accounts receivable, net

323,300

420,955

Inventories

210,017

308,162

Prepaid expenses and other current assets

102,560

85,368

Total current assets

2,918,626

3,344,040

Property and equipment, net

299,540

340,639

Long-term investments

11,296

10,226

Goodwill and acquired intangible assets, net

2,047,955

2,060,643

Other non-current assets

164,710

128,839

Total assets

$   5,442,127

$  5,884,387

Liabilities and Shareholders' Equity

Current liabilities:

Accounts payable

$      180,372

$     282,899

Accrued liabilities

253,691

286,357

Carnegie Mellon University accrued litigation settlement

736,000

-

Deferred income

55,722

68,120

Total current liabilities

1,225,785

637,376

Other non-current liabilities

76,219

100,922

Total liabilities

1,302,004

738,298

Shareholders' equity:

Common stock

1,015

1,030

Additional paid-in capital

3,028,921

3,099,548

Accumulated other comprehensive income (loss)

(795)

308

Retained earnings

1,110,982

2,045,203

Total shareholders' equity

4,140,123

5,146,089

Total liabilities and shareholders' equity

$   5,442,127

$  5,884,387

(a) 

The condensed consolidated balance sheet at January 30, 2016 is preliminary and therefore, subject to adjustments in connection with subsequent events arising through the date of the Company's filing of its Annual Report on Form 10-K for the corresponding period. The filing of the Form 10-K will be completed as soon as practicable after the completion of the audit of the Company's fiscal 2016 financial statements by Deloitte & Touche LLP, its newly appointed independent registered public accounting firm.