Infinera Corporation (INFN) Financial Statements (2024 and earlier)

Company Profile

Business Address 6373 SAN IGNACIO AVENUE
SAN JOSE, CA 95119
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3661 - Telephone and Telegraph Apparatus (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:172,505178,657190,611298,014109,200229,500
Cash and cash equivalents172,505178,657190,611298,014109,201202,954
Short-term investments      26,511
Other undisclosed cash, cash equivalents, and short-term investments     (1)35
Restricted cash and investments5177,2742,8403,2934,33913,229
Receivables381,981419,735358,954319,428349,645317,115
Inventory, net of allowances, customer advances and progress billings431,163374,855291,367269,307340,429311,888
Inventory431,163374,855291,367269,307340,429311,888
Other undisclosed current assets129,218152,451147,989171,831139,21885,365
Total current assets:1,115,3841,132,972991,7611,061,873942,831957,097
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization4,5001,900   
Operating lease, right-of-use asset39,97334,54345,33868,85168,081
Property, plant and equipment      342,820
Intangible assets, net (including goodwill)265,385280,450342,362398,308420,194460,350
Goodwill240,566232,663255,788273,426249,848227,231
Intangible assets, net (excluding goodwill)24,81947,78786,574124,882170,346233,119
Restricted cash and investments8373,2729,07014,07619,25726,154
Other noncurrent assets50,66244,97238,47536,25627,18214,849
Other undisclosed noncurrent assets202,497171,029160,218153,133150,793 
Total noncurrent assets:563,854536,166595,463670,624685,507844,173
TOTAL ASSETS:1,679,2381,669,1381,587,2241,732,4971,628,3381,801,270
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities409,763446,330451,454379,288558,786394,230
Employee-related liabilities88,02152,97692,22171,152
Accounts payable299,005304,880216,404175,762273,397191,187
Accrued liabilities110,758141,450147,029150,550193,168131,891
Deferred revenue136,248158,501137,297133,246103,753
Debt25,512510533101,98331,673 
Contract with customer, liability88,534
Other undisclosed current liabilities102,46998,59623,20419,36921,10720,103
Total current liabilities:673,992703,937612,488633,886715,319502,867
Noncurrent Liabilities
Long-term debt and lease obligation658,756667,719531,115523,505390,282266,929
Long-term debt, excluding current maturities658,756667,719476,789445,996323,678266,929
Finance lease, liability    1,3832,394
Liabilities, other than long-term debt129,899117,835119,850148,822136,202224,491
Accounts payable and accrued liabilities15,93416,87421,10621,33922,24120,918
Deferred revenue21,33223,17831,61229,81036,067
Contract with customer, liability31,768
Deferred income tax liabilities1,8052,3482,3644,1648,700
Liability, pension and other postretirement and postemployment benefits      103,723
Other liabilities43,36429,57364,76893,50969,19468,082
Operating lease, liability47,46445,86254,32676,12664,210
Other undisclosed noncurrent liabilities      103,162
Total noncurrent liabilities:788,655785,554650,965672,327526,484594,582
Total liabilities:1,462,6471,489,4911,263,4531,306,2131,241,8031,097,449
Equity
Equity, attributable to parent216,591179,647323,771426,284386,535703,821
Common stock231220211201181175
Additional paid in capital1,976,0141,901,4912,026,0981,965,2451,740,8841,685,916
Accumulated other comprehensive loss(34,848)(22,471)(4,496)(11,898)(34,639)(25,300)
Accumulated deficit(1,724,806)(1,699,593)(1,698,042)(1,527,264)(1,319,891)(956,970)
Total equity:216,591179,647323,771426,284386,535703,821
TOTAL LIABILITIES AND EQUITY:1,679,2381,669,1381,587,2241,732,4971,628,3381,801,270

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,614,1281,573,2421,425,2051,355,5961,298,865943,379
Cost of revenue(991,216)(1,037,466)(927,231)(946,804)(972,942)(622,223)
Gross profit:622,912535,776497,974408,792325,923321,156
Operating expenses(627,752)(595,933)(585,453)(563,991)(676,153)(506,835)
Operating loss:(4,840)(60,157)(87,479)(155,199)(350,230)(185,679)
Nonoperating income (expense)(12,568)4,646(71,311)(45,489)(33,425)(29,271)
Investment income, nonoperating2,7168934551181,1392,428
Other nonoperating income (expense)15,32514,247(22,667)1,121(2,907)(9,650)
Interest and debt expense(30,609)15,521(49,099)(46,728)(31,657)(22,049)
Loss from continuing operations before equity method investments, income taxes:(48,017)(39,990)(207,889)(247,416)(415,312)(236,999)
Other undisclosed income (loss) from continuing operations before income taxes30,609(15,521)49,09946,72831,65722,049
Loss from continuing operations before income taxes:(17,408)(55,511)(158,790)(200,688)(383,655)(214,950)
Income tax expense (benefit)(7,805)(20,532)(11,988)(6,035)(2,963)655
Loss from continuing operations:(25,213)(76,043)(170,778)(206,723)(386,618)(214,295)
Loss before gain (loss) on sale of properties:(170,778)(206,723)(386,618)(214,295)
Net loss available to common stockholders, diluted:(25,213)(76,043)(170,778)(206,723)(386,618)(214,295)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net loss:(25,213)(76,043)(170,778)(206,723)(386,618)(214,295)
Other comprehensive income (loss) (2,415)22,86415,963(6,299)91(31,554)
Other undisclosed comprehensive loss      
Comprehensive loss:(27,628)(53,179)(154,815)(213,022)(386,527)(245,849)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(9,962)(40,839)(8,561)29,040(9,430) 
Comprehensive loss, net of tax, attributable to parent:(37,590)(94,018)(163,376)(183,982)(395,957)(245,849)

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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