Array Technologies, Inc. (ARRY) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
3901 MIDWAY PLACE NE ALBUQUERQUE, NM 87109 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 399 - Miscellaneous Manufacturing Industries (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|
| ASSETS | |||||
| Current Assets | |||||
| Cash, cash equivalents, and short-term investments | 134 | 368 | 108 | ||
| Cash and cash equivalents | 134 | 368 | 108 | ||
| Receivables | 425 | 245 | 136 | ||
| Inventory, net of allowances, customer advances and progress billings | 233 | 206 | 118 | ||
| Inventory | 233 | 206 | 118 | ||
| Other undisclosed current assets | 39 | 34 | 12 | ||
| Total current assets: | 831 | 852 | 375 | ||
| Noncurrent Assets | |||||
| Property, plant and equipment | 23 | 11 | 10 | ||
| Intangible assets, net (including goodwill) | 803 | 244 | 268 | ||
| Goodwill | 416 | 70 | 70 | ||
| Intangible assets, net (excluding goodwill) | 386 | 175 | 198 | ||
| Deferred income tax assets | 16 | 9 | |||
| Other noncurrent assets | 33 | 26 | 3 | ||
| Total noncurrent assets: | 875 | 291 | 281 | ||
| TOTAL ASSETS: | 1,706 | 1,143 | 656 | ||
| LIABILITIES AND EQUITY | |||||
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts payable and accrued liabilities | 236 | 133 | 124 | ||
| Taxes payable | ✕ | 0 | 9 | ||
| Accounts payable | 170 | 91 | 83 | ||
| Accrued liabilities | 65 | 42 | 32 | ||
| Deferred revenue | 179 | 100 | 150 | ||
| Debt | 39 | 4 | 4 | ||
| Business combination, contingent consideration, liability | 1 | 2 | 9 | ||
| Due to related parties | 1 | 2 | |||
| Other liabilities | 11 | 6 | |||
| Total current liabilities: | 465 | 245 | 289 | ||
| Noncurrent Liabilities | |||||
| Long-term debt and lease obligation | 720 | 711 | 424 | ||
| Long-term debt, excluding current maturities | 720 | 711 | 424 | ||
| Liabilities, other than long-term debt | 97 | 18 | 24 | ||
| Accounts payable and accrued liabilities | 2 | ||||
| Deferred income tax liabilities | 73 | 13 | |||
| Other liabilities | 15 | 6 | |||
| Business combination, contingent consideration, liability | 7 | 13 | 11 | ||
| Total noncurrent liabilities: | 817 | 729 | 448 | ||
| Total liabilities: | 1,282 | 975 | 737 | ||
| Temporary equity, carrying amount | 300 | 237 | |||
| Equity | |||||
| Equity, attributable to parent | 124 | (69) | (81) | ||
| Common stock | 0 | 0 | 0 | ||
| Additional paid in capital | 383 | 203 | 140 | ||
| Accumulated other comprehensive income | 8 | ||||
| Accumulated deficit | (267) | (272) | (221) | ||
| Total equity: | 124 | (69) | (81) | ||
| TOTAL LIABILITIES AND EQUITY: | 1,706 | 1,143 | 656 | ||
Income Statement (P&L) ($ in millions)
| 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|
| Revenues | 1,638 | 853 | 873 | |
| Cost of revenue | (1,410) | (770) | (670) | |
| Gross profit: | 227 | 83 | 203 | |
| Operating expenses | (245) | (108) | (108) | |
| Operating income (loss): | (18) | (25) | 95 | |
| Nonoperating income (expense) | 13 | (36) | (17) | |
| Other nonoperating income (expense) | 3 | (1) | (2) | |
| Interest and debt expense | (34) | (35) | (15) | |
| Income (loss) from continuing operations before equity method investments, income taxes: | (38) | (97) | 63 | |
| Other undisclosed income from continuing operations before income taxes | 34 | 35 | 15 | |
| Income (loss) from continuing operations before income taxes: | (5) | (61) | 78 | |
| Income tax expense (benefit) | 9 | 11 | (19) | |
| Income (loss) from continuing operations: | 4 | (50) | 59 | |
| Income (loss) before gain (loss) on sale of properties: | ✕ | (50) | 59 | |
| Net income (loss) attributable to parent: | 4 | (50) | 59 | |
| Other undisclosed net loss available to common stockholders, basic | (48) | (16) | ||
| Net income (loss) available to common stockholders, diluted: | (44) | (66) | 59 | |
Comprehensive Income ($ in millions)
| 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|
| Net income (loss): | 4 | (50) | 59 | |
| Comprehensive income (loss): | 4 | (50) | 59 | |
| Other undisclosed comprehensive income, net of tax, attributable to parent | 8 | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 13 | (50) | 59 | |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.