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 investments2,5781,8261,7472,1642,5472,989
Cash and cash equivalents1,4811,4511,2271,3531,4042,269
Short-term investments1,0973755208121,144720
Restricted cash and investments   2142011
Receivables324429293661570417
Inventory, net of allowances, customer advances and progress billings621666568444388172
Inventory621666568444388172
Prepaid expense   1611389141
Derivative instruments and hedges, assets   3124
Disposal group, including discontinued operation   156   
Other current assets23724413224457
Other undisclosed current assets312573156197141
Total current assets:3,7913,1913,0153,6003,8603,833
Noncurrent Assets
Inventory, Noncurrent260238201161130113
Nontrade receivables      
Property, plant and equipment3,5372,6502,4022,1811,7561,155
Long-term investments and receivables     26268
Due from related parties    2348
Long-term investments     3220
Intangible assets, net (including goodwill)466071798995
Goodwill141414141414
Intangible assets, net (excluding goodwill)314656657480
Restricted cash and investments    304318425
Deferred income tax assets7959104 
Other noncurrent assets3204394342509683
Other undisclosed noncurrent assets218778882941847893
Total noncurrent assets:4,4604,2234,0943,9163,2623,032
TOTAL ASSETS:8,2517,4147,1097,5167,1216,865
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities724486508586696507
Taxes payable515172120
Accounts payable341193183218233120
Accrued liabilities383288310351442367
Deferred revenue263202189323
Debt 44218613
Estimated litigation liability    363  
Disposal group, including discontinued operation   26   
Deferred revenue and credits82
Other liabilities213583281449
Other undisclosed current liabilities29   130 
Total current liabilities:1,0387278471,318845650
Noncurrent Liabilities
Long-term debt and lease obligation, including:184236238454461380
Long-term debt, excluding current maturities184236238   
Other undisclosed long-term debt and lease obligation    342461380
Liabilities, other than long-term debt1,065352372509468568
Deferred revenue945   
Other liabilities120352372509468568
Operating lease, liability    113
Other undisclosed noncurrent liabilities128139131138134167
Total noncurrent liabilities:1,3777277411,1011,0641,116
Total liabilities:2,4151,4541,5882,4191,9091,766
Equity
Equity, attributable to parent5,8365,9605,5215,0975,2125,099
Common stock000000
Additional paid in capital2,8872,8712,8672,8492,8252,799
Accumulated other comprehensive income (loss)(192)(96)(62)(79)(54)2
Retained earnings3,1403,1842,7162,3272,4422,297
Total equity:5,8365,9605,5215,0975,2125,099
TOTAL LIABILITIES AND EQUITY:8,2517,4147,1097,5167,1216,865

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
Revenues2,6192,9232,7113,0632,2442,941
Revenue, net2,941
Cost of revenue
(Cost of Goods and Services Sold)
(2,549)(2,193)(2,031)(2,514)(1,852)(2,392)
Gross profit:70730681549392549
Operating expenses(351)(290)(363)(711)(352)(371)
Other undisclosed operating income254147    
Operating income (loss):(27)587317(162)40178
Nonoperating income (expense)48(1)(0)699950
Investment income, nonoperating33617496036
Gain (loss), foreign currency transaction, before tax(16)(8)(5)2(1)(10)
Other nonoperating income (expense)310(12)184024
Interest and debt expense(12)(13)(24)(27)(26)(26)
Income (loss) from continuing operations before equity method investments, income taxes:9572293(120)113202
Income (loss) from equity method investments   (2)(0)354
Income (loss) from continuing operations before income taxes:9572291(120)148206
Income tax expense (benefit)(53)(103)1075(3)(372)
Income (loss) from continuing operations:(44)469398(115)144(166)
Income (loss) before gain (loss) on sale of properties:469398(115)144(166)
Net income (loss) available to common stockholders, diluted:(44)469398(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)469398(115)144(166)
Comprehensive income (loss):(44)469398(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)434416(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.

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