Garmin Ltd. (GRMN) financial statements (2021 and earlier)

Company profile

Business Address MUHLENTALSTRASSE 2
SCHAFFHAUSEN, CH-8200
State of Incorp.
Fiscal Year End December 31
SIC 3812 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical Systems and Instruments (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
6/30/2018
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,4049768201,1161,2021,056947
Cash and cash equivalents1,0289768201,1161,2021,056947
Short-term investments376      
Receivables707558584453570468533
Inventory, net of allowances, customer advances and progress billings753750648598562557501
Inventory753750648598562557501
Prepaid expense2   2  
Deferred costs25262728282832
Other undisclosed current assets167447381317302292310
Total current assets:3,0582,7582,4612,5122,6652,4012,324
Noncurrent Assets
Operating lease, right-of-use asset64555955
Property, plant and equipment729711702672664651637
Long-term investments and receivables1,205      
Long-term investments1,205      
Intangible assets, net (including goodwill), including:660638653411417425409
Goodwill467   301  
Intangible assets, net (excluding goodwill)193   116  
Other undisclosed intangible assets, net (including goodwill)0638653411 425409
Restricted cash and investments0100000
Deferred costs23252728293031
Deferred income tax assets269   
Other noncurrent assets1591561419210010297
Deferred tax assets, net177186188
Other undisclosed noncurrent assets 1,4111,4821,5091,3301,3011,302
Total noncurrent assets:3,1092,9973,0642,7682,7172,6952,665
TOTAL ASSETS:6,1675,7555,5255,2805,3835,0964,989
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities941947933529825756831
Accounts payable241236215170205197166
Accrued liabilities298217247207255215228
Employee-related liabilities1281091069611310196
Taxes payable57614056524440
Interest and dividends payable217325325 200200300
Deferred revenue95969594
Contract with customer, liability96  
Other undisclosed current liabilities     9899
Total current liabilities:1,0361,0431,028623921854929
Noncurrent Liabilities
Long-term debt and lease obligation49434643   
Operating lease, liability49434643
Liabilities, other than long-term debt288175194200299212217
Accounts payable and accrued liabilities106105122127127127141
Deferred revenue67707273
Contract with customer, liability77  
Deferred tax liabilities, net938374
Deferred income tax liabilities115   
Other liabilities0000222
Total noncurrent liabilities:337218240243299212217
Total liabilities:1,3731,2611,2688661,2201,0661,146
Stockholders' equity
Stockholders' equity attributable to parent4,7934,3814,1514,3154,1633,9533,759
Common stock18181818181818
Treasury stock, value(345)(368)(368)(382)(398)(433)(434)
Additional paid in capital1,8361,8421,8251,8101,8241,8431,829
Accumulated other comprehensive income562135188510
Retained earnings3,2292,8692,6412,8512,7112,5212,337
Total stockholders' equity:4,7934,3814,1514,3154,1633,9533,759
Other undisclosed liabilities and equity 11310699 7884
TOTAL LIABILITIES AND EQUITY:6,1675,7555,5255,2805,3835,0964,989

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
6/30/2018
Q2
Revenues1,102934955766932810894
Cost of revenue
(Cost of Goods and Services Sold)
(463)(367)(379)(314)(383)(329)(371)
Gross profit:639567575452549481523
Operating expenses(363)(306)(319)(300)(326)(285)(306)
Operating income:277261256151223196218
Nonoperating income (expense)11(4)20159519
Investment income, nonoperating   14 1111
Foreign currency transaction gain (loss), before tax  30 (7)3
Other nonoperating income     15
Income from continuing operations before income taxes:287258276166232201236
Income tax expense (benefit)73(30)(52)(26)(42)(17)(46)
Net income available to common stockholders, diluted:361228224140190184190

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
6/30/2018
Q2
Net income:361228224140190184190
Other comprehensive income (loss)35(14)16104(5)(55)
Comprehensive income, net of tax, attributable to parent:396214240150194179136

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.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: