Marvell Technology Group Ltd. Reports Third Quarter of Fiscal Year 2019 Financial Results

 

 

Marvell Technology Group Ltd.

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands)

 
   

November 3,
2018

 

February 3,
2018

Assets

       

Current assets:

       

Cash and cash equivalents

 

$

610,261

 

$

888,482

Short-term investments

 

 

952,790

Accounts receivable, net

 

453,775

 

280,395

Inventories

 

376,210

 

170,039

Prepaid expenses and other current assets

 

49,230

 

41,482

Assets held for sale

 

30,745

 

30,767

Total current assets

 

1,520,221

 

2,363,955

Property and equipment, net

 

313,113

 

202,222

Goodwill

 

5,499,145

 

1,993,310

Acquired intangible assets, net

 

2,639,370

 

Other non-current assets

 

260,176

 

148,800

Total assets

 

$

10,232,025

 

$

4,708,287

         

Liabilities and Shareholders' Equity

       

Current liabilities:

       

Accounts payable

 

$

209,562

 

$

145,236

Accrued liabilities

 

302,095

 

86,958

Accrued employee compensation

 

141,602

 

127,711

Deferred income

 

2,947

 

61,237

Total current liabilities

 

656,206

 

421,142

Long-term debt

 

1,805,734

 

Non-current income taxes payable

 

53,862

 

56,976

Deferred tax liabilities

 

108,016

 

52,204

Other non-current liabilities

 

32,928

 

36,552

Total liabilities

 

2,656,746

 

566,874

         

Shareholders' equity:

       

Common stock

 

1,314

 

991

Additional paid-in capital

 

6,157,283

 

2,733,292

Accumulated other comprehensive loss

 

 

(2,322)

Retained earnings

 

1,416,682

 

1,409,452

Total shareholders' equity

 

7,575,279

 

4,141,413

Total liabilities and shareholders' equity

 

$

10,232,025

 

$

4,708,287


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