First Solar, Inc. (FSLR) financial statements (2021 and earlier)
Company profile
| Business Address |
350 WEST WASHINGTON STREET TEMPE, AZ 85281 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| SIC | 3674 - Semiconductors and Related Devices (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 2,164 | 2,547 | 2,989 | 1,955 | 1,830 | 1,991 | 1,764 | ||
| Cash and cash equivalents | 1,353 | 1,404 | 2,269 | 1,347 | 1,127 | 1,482 | 1,325 | ||
| Short-term investments | 812 | 1,144 | 720 | 608 | 703 | 509 | 439 | ||
| Restricted cash and investments | 14 | 20 | 11 | 37 | 73 | ||||
| Receivables | 661 | 570 | 417 | 503 | 542 | 177 | 239 | ||
| Inventory, net of allowances, customer advances and progress billings | 444 | 388 | 172 | 363 | 380 | 505 | 389 | ||
| Inventory | 444 | 388 | 172 | 363 | 380 | 505 | 389 | ||
| Prepaid expense | 138 | 91 | 41 | 42 | 75 | 42 | 25 | ||
| Deferred costs | 1 | ||||||||
| Derivative instruments and hedges, assets | 1 | 2 | 4 | 6 | 3 | 10 | 8 | ||
| Assets held-for-sale | ✕ | ✕ | ✕ | ✕ | ✕ | 21 | 133 | ||
| Other current assets | 22 | 44 | 57 | 74 | 99 | 76 | 61 | ||
| Other undisclosed current assets | 156 | 197 | 141 | 805 | 344 | 368 | 1,173 | ||
| Total current assets: | 3,600 | 3,860 | 3,833 | 3,787 | 3,346 | 3,190 | 3,793 | ||
| Noncurrent Assets | |||||||||
| Inventory, Noncurrent | 161 | 130 | 113 | 101 | 108 | 116 | 130 | ||
| Property, plant and equipment | 2,181 | 1,756 | 1,155 | 629 | 1,284 | 1,402 | 1,385 | ||
| Long-term investments and receivables | 26 | 268 | 297 | 418 | 267 | 27 | |||
| Long-term investments | 3 | 220 | 242 | 400 | 255 | 17 | |||
| Accounts and financing receivable, after allowance for credit loss | 12 | 10 | |||||||
| Due from related parties | 23 | 48 | 55 | 18 | |||||
| Intangible assets, net (including goodwill) | 79 | 89 | 95 | 102 | 195 | 204 | 202 | ||
| Goodwill | 14 | 14 | 14 | 14 | 85 | 85 | 85 | ||
| Intangible assets, net (excluding goodwill) | 65 | 74 | 80 | 88 | 110 | 119 | 117 | ||
| Restricted cash and investments | 304 | 318 | 425 | 371 | 334 | 407 | 279 | ||
| Other noncurrent assets | 250 | 96 | 83 | 78 | 70 | 62 | 193 | ||
| Other undisclosed noncurrent assets | 941 | 847 | 893 | 1,502 | 1,563 | 1,076 | 874 | ||
| Total noncurrent assets: | 3,916 | 3,262 | 3,032 | 3,081 | 3,971 | 3,534 | 3,091 | ||
| TOTAL ASSETS: | 7,516 | 7,121 | 6,865 | 6,867 | 7,316 | 6,724 | 6,884 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 586 | 696 | 507 | 417 | 748 | 648 | 638 | ||
| Accounts payable | 218 | 233 | 120 | 149 | 338 | 215 | 261 | ||
| Accrued liabilities | 351 | 442 | 367 | 263 | 409 | 388 | 320 | ||
| Employee-related liabilities | 43 | 50 | |||||||
| Taxes payable | 17 | 21 | 20 | 5 | 1 | 2 | 7 | ||
| Deferred revenue | 323 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 18 | 6 | 13 | 28 | 38 | 52 | 61 | ||
| Derivative instruments and hedges, liabilities | 8 | 8 | |||||||
| Estimated litigation liability | 363 | ||||||||
| Deferred revenue and credits | ✕ | ✕ | 82 | ||||||
| Billings in excess of cost | ✕ | ✕ | 116 | 195 | 118 | ||||
| Deferred tax liabilities | ✕ | 0 | |||||||
| Other liabilities | 28 | 14 | 49 | 55 | 58 | 89 | 297 | ||
| Other undisclosed current liabilities | 130 | 284 | 117 | 10 | 466 | ||||
| Total current liabilities: | 1,318 | 845 | 650 | 900 | 961 | 1,001 | 1,588 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 454 | 461 | 380 | 160 | 251 | 165 | 163 | ||
| Capital lease obligations | ✕ | 0 | 1 | 1 | 2 | ||||
| Operating lease, liability | 113 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other undisclosed long-term debt and lease obligation | 342 | 461 | 380 | 160 | 251 | 164 | 161 | ||
| Liabilities, other than long-term debt | 509 | 468 | 568 | 435 | 392 | 331 | 749 | ||
| Accrued income taxes | ✕ | ✕ | ✕ | ✕ | ✕ | 47 | 119 | ||
| Accrued environmental loss contingencies | 225 | ||||||||
| Other liabilities | 509 | 468 | 568 | 428 | 392 | 285 | 404 | ||
| Business combination, contingent consideration, liability | 7 | ✕ | |||||||
| Other undisclosed noncurrent liabilities | 138 | 134 | 167 | 159 | 163 | 200 | (119) | ||
| Total noncurrent liabilities: | 1,101 | 1,064 | 1,116 | 755 | 807 | 696 | 792 | ||
| Total liabilities: | 2,419 | 1,909 | 1,766 | 1,655 | 1,768 | 1,697 | 2,380 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 5,097 | 5,212 | 5,099 | 5,213 | 5,548 | 5,027 | 4,503 | ||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Additional paid in capital | 2,849 | 2,825 | 2,799 | 2,759 | 2,743 | 2,698 | 2,646 | ||
| Accumulated other comprehensive income (loss) | (79) | (54) | 2 | (10) | 15 | 50 | (26) | ||
| Retained earnings | 2,327 | 2,442 | 2,297 | 2,463 | 2,790 | 2,280 | 1,883 | ||
| Total stockholders' equity: | 5,097 | 5,212 | 5,099 | 5,213 | 5,548 | 5,027 | 4,503 | ||
| TOTAL LIABILITIES AND EQUITY: | 7,516 | 7,121 | 6,865 | 6,867 | 7,316 | 6,724 | 6,884 | ||
Income statement (P&L) ($ in millions)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 3,063 | 2,244 | 2,941 | 2,951 | 3,579 | 3,392 | 3,309 | |
| Revenue, net | ✕ | ✕ | 2,941 | 2,951 | 3,579 | 3,392 | 3,309 | |
| Cost of revenue (Cost of Goods and Services Sold) | (2,514) | (1,852) | (2,392) | (2,247) | (2,660) | (2,565) | (2,446) | |
| Gross profit: | 549 | 392 | 549 | 704 | 919 | 827 | 863 | |
| Operating expenses | (711) | (352) | (371) | (1,207) | (403) | (403) | (494) | |
| Operating income (loss): | (162) | 40 | 178 | (503) | 517 | 424 | 369 | |
| Nonoperating income | 69 | 99 | 50 | 51 | 10 | 10 | 12 | |
| Investment income, nonoperating | 49 | 60 | 36 | 25 | 23 | 18 | 17 | |
| Foreign currency transaction gain (loss), before tax | 2 | (1) | (10) | (14) | (7) | (3) | (0) | |
| Other nonoperating income (expense) | 18 | 40 | 24 | 40 | (6) | (5) | (5) | |
| Interest and debt expense | (27) | (26) | (26) | (21) | (7) | (2) | (2) | |
| Income (loss) from continuing operations before equity method investments, income taxes: | (120) | 113 | 202 | (472) | 520 | 432 | 378 | |
| Income (loss) from equity method investments | (0) | 35 | 4 | 172 | 20 | (5) | ||
| Income (loss) from continuing operations before income taxes: | (120) | 148 | 206 | (300) | 540 | 427 | 378 | |
| Income tax expense (benefit) | 5 | (3) | (372) | (58) | 6 | (30) | (25) | |
| Net income (loss) available to common stockholders, diluted: | (115) | 144 | (166) | (358) | 546 | 397 | 353 | |
Comprehensive Income ($ in millions)
| 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (115) | 144 | (166) | (358) | 546 | 397 | 353 | |
| Other comprehensive income (loss) | (25) | (35) | 76 | |||||
| Comprehensive income (loss): | (115) | 144 | (166) | (383) | 512 | 473 | 353 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (25) | (57) | 12 | (36) | ||||
| Comprehensive income (loss), net of tax, attributable to parent: | (140) | 88 | (153) | (383) | 512 | 473 | 317 | |
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.