Marvell Technology, Inc. Reports Third Quarter of Fiscal Year 2024 Financial Results

 

Marvell Technology, Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(In millions)




October 28,
2023


January 28,
2023

Assets





Current assets:





Cash and cash equivalents


$              725.6


$              911.0

Accounts receivable, net


1,214.6


1,192.2

Inventories


941.5


1,068.3

Prepaid expenses and other current assets


91.5


109.6

Total current assets


2,973.2


3,281.1

Property and equipment, net


701.6


577.4

Goodwill


11,586.9


11,586.9

Acquired intangible assets, net


4,290.4


5,102.0

Deferred tax assets


759.5


465.9

Other non-current assets


1,402.8


1,508.8

Total assets


$         21,714.4


$         22,522.1






Liabilities and Stockholders' Equity





Current liabilities:





Accounts payable


$              419.1


$              465.8

Accrued liabilities


1,119.2


1,092.0

Accrued employee compensation


245.0


244.5

Short-term debt


96.3


584.4

Total current liabilities


1,879.6


2,386.7

Long-term debt


4,089.6


3,907.7

Other non-current liabilities


511.8


590.5

Total liabilities


6,481.0


6,884.9






Stockholders' equity:





Common stock


1.7


1.7

Additional paid-in capital


14,805.2


14,512.0

Accumulated other comprehensive loss


(1.4)


Retained earnings


427.9


1,123.5

Total stockholders' equity


15,233.4


15,637.2

Total liabilities and stockholders' equity


$         21,714.4


$         22,522.1


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