Avid Technology, Inc. (AVID) financial statements (2020 and earlier)

Company profile

Business Address 75 NETWORK DRIVE
BURLINGTON, MA 01803
State of Incorp. DE
Fiscal Year End December 31
SIC 7372 - Prepackaged Software (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 5251555650
Cash and cash equivalents 5251555650
Restricted cash and investments 29999
Receivables 5459616851
Inventory, net of allowances, customer advances and progress billings 3234343332
Inventory 3234343332
Prepaid expense 13101299
Contract with customer, asset 141819  
Other current assets 75767
Other undisclosed current assets    1717
Total current assets: 174187197197176
Noncurrent Assets
Operating lease, right-of-use asset 31  
Property, plant and equipment 2020212219
Intangible assets, net (including goodwill) 3333353739
Goodwill 3333333333
Intangible assets, net (excluding goodwill)   247
Restricted cash and investments 233  
Other noncurrent assets 689911
Other undisclosed noncurrent assets 0313411
Total noncurrent assets: 92951026971
TOTAL ASSETS: 266282300266247
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 919910710195
Accounts payable 3639383934
Accrued liabilities 3741413838
Employee-related liabilities 1717252222
Taxes payable 22222
Deferred revenue 71  
Debt 8    
Restructuring reserve   2  
Deferred revenue and credits8674
Other undisclosed current liabilities 221088811
Total current liabilities: 192207196188171
Noncurrent Liabilities
Long-term debt and lease obligation 5727191 106
Long-term debt, excluding current maturities 2827191 106
Operating lease, liability 29  
Liabilities, other than long-term debt 1955521
Deferred revenue and credits14
Deferred revenue 14  
Deferred compensation liability, classified    5 
Restructuring reserve    0 
Other liabilities 555 7
Other undisclosed noncurrent liabilities 172218745123
Total noncurrent liabilities: 24725127110251
Other undisclosed liabilities    235 
Total liabilities: 439458467433421
Stockholders' equity
Stockholders' equity attributable to parent (173)(176)(167)(167)(174)
Common stock 00000
Treasury stock, value    (5)(7)
Additional paid in capital 1,0261,0251,0241,0291,028
Accumulated other comprehensive loss (4)(4)(4)(4)(3)
Accumulated deficit (1,195)(1,198)(1,187)(1,187)(1,193)
Total stockholders' equity: (173)(176)(167)(167)(174)
TOTAL LIABILITIES AND EQUITY: 266282300266247

Income statement (P&L) ($ in millions)

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
Revenues(295)9399103113104
Revenue, net113104
Cost of revenue (36)(42)(42)(46)(43)
Cost of goods and services sold   (2)(44)(41)
Gross profit: 5857616761
Operating expenses (49)(54)(56)(54)(54)
Operating income: 835127
Nonoperating income    1 
Interest and debt expense (6)(13)(5)(6)(6)
Other undisclosed loss from continuing operations before equity method investments, income taxes    (1) 
Income (loss) from continuing operations before income taxes: 3(11)061
Income tax expense (benefit) 0 (0)(0)(0)
Net income (loss) available to common stockholders, diluted: 3(11)(0)61

Comprehensive Income ($ in millions)

12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
3/31/2019
Q1
12/31/2018
Q4
9/30/2018
Q3
Net income (loss): 3(11)(0)61
Other comprehensive income (loss) (1)1(1)  
Other undisclosed comprehensive income (loss)    (0)0
Comprehensive income (loss), net of tax, attributable to parent: 2(10)(1)61

Statements sources

The financial statements are based on the company's filings with the 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.

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