First Solar, Inc. (FSLR) Financial Statements (2024 and earlier)
Company Profile
Business Address |
350 WEST WASHINGTON STREET TEMPE, AZ 85288 |
State of Incorp. | DE |
Fiscal Year End | December 31 |
Industry (SIC) | 3674 - Semiconductors and Related Devices (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 2,578 | 1,826 | 1,747 | 2,164 | 2,547 | 2,989 | |||
Cash and cash equivalents | 1,481 | 1,451 | 1,227 | 1,353 | 1,404 | 2,269 | |||
Short-term investments | 1,097 | 375 | 520 | 812 | 1,144 | 720 | |||
Restricted cash and investments | 2 | 14 | 20 | 11 | |||||
Receivables | 324 | 429 | 293 | 661 | 570 | 417 | |||
Inventory, net of allowances, customer advances and progress billings | 621 | 666 | 568 | 444 | 388 | 172 | |||
Inventory | 621 | 666 | 568 | 444 | 388 | 172 | |||
Prepaid expense | 161 | 138 | 91 | 41 | |||||
Derivative instruments and hedges, assets | 3 | 1 | 2 | 4 | |||||
Disposal group, including discontinued operation | 156 | ||||||||
Other current assets | 237 | 244 | 13 | 22 | 44 | 57 | |||
Other undisclosed current assets | 31 | 25 | 73 | 156 | 197 | 141 | |||
Total current assets: | 3,791 | 3,191 | 3,015 | 3,600 | 3,860 | 3,833 | |||
Noncurrent Assets | |||||||||
Inventory, Noncurrent | 260 | 238 | 201 | 161 | 130 | 113 | |||
Nontrade receivables | |||||||||
Property, plant and equipment | 3,537 | 2,650 | 2,402 | 2,181 | 1,756 | 1,155 | |||
Long-term investments and receivables | 26 | 268 | |||||||
Due from related parties | ✕ | 23 | 48 | ||||||
Long-term investments | 3 | 220 | |||||||
Intangible assets, net (including goodwill) | 46 | 60 | 71 | 79 | 89 | 95 | |||
Goodwill | 14 | 14 | 14 | 14 | 14 | 14 | |||
Intangible assets, net (excluding goodwill) | 31 | 46 | 56 | 65 | 74 | 80 | |||
Restricted cash and investments | 304 | 318 | 425 | ||||||
Deferred income tax assets | 79 | 59 | 104 | ✕ | ✕ | ||||
Other noncurrent assets | 320 | 439 | 434 | 250 | 96 | 83 | |||
Other undisclosed noncurrent assets | 218 | 778 | 882 | 941 | 847 | 893 | |||
Total noncurrent assets: | 4,460 | 4,223 | 4,094 | 3,916 | 3,262 | 3,032 | |||
TOTAL ASSETS: | 8,251 | 7,414 | 7,109 | 7,516 | 7,121 | 6,865 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities | 724 | 486 | 508 | 586 | 696 | 507 | |||
Taxes payable | ✕ | ✕ | 5 | 15 | 17 | 21 | 20 | ||
Accounts payable | 341 | 193 | 183 | 218 | 233 | 120 | |||
Accrued liabilities | 383 | 288 | 310 | 351 | 442 | 367 | |||
Deferred revenue | 263 | 202 | 189 | 323 | ✕ | ✕ | |||
Debt | 4 | 42 | 18 | 6 | 13 | ||||
Estimated litigation liability | 363 | ||||||||
Disposal group, including discontinued operation | 26 | ||||||||
Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 82 | ||
Other liabilities | 21 | 35 | 83 | 28 | 14 | 49 | |||
Other undisclosed current liabilities | 29 | 130 | |||||||
Total current liabilities: | 1,038 | 727 | 847 | 1,318 | 845 | 650 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation, including: | 184 | 236 | 238 | 454 | 461 | 380 | |||
Long-term debt, excluding current maturities | 184 | 236 | 238 | ||||||
Other undisclosed long-term debt and lease obligation | 342 | 461 | 380 | ||||||
Liabilities, other than long-term debt | 1,065 | 352 | 372 | 509 | 468 | 568 | |||
Deferred revenue | 945 | ✕ | ✕ | ||||||
Other liabilities | 120 | 352 | 372 | 509 | 468 | 568 | |||
Operating lease, liability | 113 | ✕ | ✕ | ||||||
Other undisclosed noncurrent liabilities | 128 | 139 | 131 | 138 | 134 | 167 | |||
Total noncurrent liabilities: | 1,377 | 727 | 741 | 1,101 | 1,064 | 1,116 | |||
Total liabilities: | 2,415 | 1,454 | 1,588 | 2,419 | 1,909 | 1,766 | |||
Equity | |||||||||
Equity, attributable to parent | 5,836 | 5,960 | 5,521 | 5,097 | 5,212 | 5,099 | |||
Common stock | 0 | 0 | 0 | 0 | 0 | 0 | |||
Additional paid in capital | 2,887 | 2,871 | 2,867 | 2,849 | 2,825 | 2,799 | |||
Accumulated other comprehensive income (loss) | (192) | (96) | (62) | (79) | (54) | 2 | |||
Retained earnings | 3,140 | 3,184 | 2,716 | 2,327 | 2,442 | 2,297 | |||
Total equity: | 5,836 | 5,960 | 5,521 | 5,097 | 5,212 | 5,099 | |||
TOTAL LIABILITIES AND EQUITY: | 8,251 | 7,414 | 7,109 | 7,516 | 7,121 | 6,865 |
Income Statement (P&L) ($ in millions)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
---|---|---|---|---|---|---|---|---|
Revenues | 2,619 | 2,923 | 2,711 | 3,063 | 2,244 | 2,941 | ||
Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 2,941 | |
Cost of revenue (Cost of Goods and Services Sold) | (2,549) | (2,193) | (2,031) | (2,514) | (1,852) | (2,392) | ||
Gross profit: | 70 | 730 | 681 | 549 | 392 | 549 | ||
Operating expenses | (351) | (290) | (363) | (711) | (352) | (371) | ||
Other undisclosed operating income | 254 | 147 | ||||||
Operating income (loss): | (27) | 587 | 317 | (162) | 40 | 178 | ||
Nonoperating income (expense) | 48 | (1) | (0) | 69 | 99 | 50 | ||
Investment income, nonoperating | 33 | 6 | 17 | 49 | 60 | 36 | ||
Gain (loss), foreign currency transaction, before tax | (16) | (8) | (5) | 2 | (1) | (10) | ||
Other nonoperating income (expense) | 31 | 0 | (12) | 18 | 40 | 24 | ||
Interest and debt expense | (12) | (13) | (24) | (27) | (26) | (26) | ||
Income (loss) from continuing operations before equity method investments, income taxes: | 9 | 572 | 293 | (120) | 113 | 202 | ||
Income (loss) from equity method investments | (2) | (0) | 35 | 4 | ||||
Income (loss) from continuing operations before income taxes: | 9 | 572 | 291 | (120) | 148 | 206 | ||
Income tax expense (benefit) | (53) | (103) | 107 | 5 | (3) | (372) | ||
Income (loss) from continuing operations: | (44) | 469 | 398 | (115) | 144 | (166) | ||
Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 469 | 398 | (115) | 144 | (166) | |
Net income (loss) available to common stockholders, diluted: | (44) | 469 | 398 | (115) | 144 | (166) |
Comprehensive Income ($ in millions)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
---|---|---|---|---|---|---|---|---|
Net income (loss): | (44) | 469 | 398 | (115) | 144 | (166) | ||
Comprehensive income (loss): | (44) | 469 | 398 | (115) | 144 | (166) | ||
Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (95) | (35) | 18 | (25) | (57) | 12 | ||
Comprehensive income (loss), net of tax, attributable to parent: | (140) | 434 | 416 | (140) | 88 | (153) |
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.