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)

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments163,765178,657198,044130,856191,937190,611
Cash and cash equivalents163,765178,657198,044130,856191,937190,611
Restricted cash and investments3,8737,2748,94621,1426,5282,840
Receivables334,434419,735284,001302,928276,056358,954
Inventory, net of allowances, customer advances and progress billings412,940374,855331,058309,602291,690291,367
Inventory412,940374,855331,058309,602291,690291,367
Other undisclosed current assets155,228152,451159,825161,480161,188147,989
Total current assets:1,070,2401,132,972981,874926,008927,399991,761
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization2,0001,9001,9005,4005,400 
Operating lease, right-of-use asset34,43434,54335,39639,05538,46945,338
Intangible assets, net (including goodwill)274,435280,450279,821303,078325,800342,362
Goodwill233,774232,663224,238237,246249,534255,788
Intangible assets, net (excluding goodwill)40,66147,78755,58365,83276,26686,574
Restricted cash and investments2,0963,2723,0273,1845,5639,070
Other noncurrent assets40,17444,97239,51739,81039,91038,475
Other undisclosed noncurrent assets175,007171,029158,153152,265152,997160,218
Total noncurrent assets:528,146536,166517,814542,792568,139595,463
TOTAL ASSETS:1,598,3861,669,1381,499,6881,468,8001,495,5381,587,224
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities395,834446,330354,433320,086411,213451,454
Taxes payable37,87142,655 
Employee-related liabilities70,43868,54979,85088,021
Accounts payable275,177304,880246,124208,882188,460216,404
Accrued liabilities120,657141,450  142,903147,029
Deferred revenue153,287158,501106,738116,043129,796137,297
Debt7,148510547540495533
Other undisclosed current liabilities77,96298,596116,464118,51321,00023,204
Total current liabilities:634,231703,937578,182555,182562,504612,488
Noncurrent Liabilities
Long-term debt and lease obligation661,739667,719714,364690,915649,878531,115
Long-term debt, excluding current maturities661,739667,719667,070640,076599,474476,789
Liabilities, other than long-term debt116,160117,83592,941106,145112,951119,850
Accounts payable and accrued liabilities17,33816,87418,21417,56618,58521,106
Deferred revenue22,26323,17822,59229,13029,90731,612
Deferred income tax liabilities2,3652,3481,9392,1152,2802,364
Other liabilities29,54829,57350,19657,33462,17964,768
Operating lease, liability44,64645,86247,29450,83950,40454,326
Total noncurrent liabilities:777,899785,554807,305797,060762,829650,965
Total liabilities:1,412,1301,489,4911,385,4871,352,2421,325,3331,263,453
Equity
Equity, attributable to parent186,256179,647114,201116,558170,205323,771
Common stock225220219216213211
Additional paid in capital1,925,0601,901,4911,886,1661,867,0001,851,0022,026,098
Accumulated other comprehensive loss(31,026)(22,471)(39,133)(29,537)(15,610)(4,496)
Accumulated deficit(1,708,003)(1,699,593)(1,733,051)(1,721,121)(1,665,400)(1,698,042)
Total equity:186,256179,647114,201116,558170,205323,771
TOTAL LIABILITIES AND EQUITY:1,598,3861,669,1381,499,6881,468,8001,495,5381,587,224

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

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
Revenues392,075485,936390,447357,985338,874400,257
Cost of revenue(245,177)(305,422)(256,032)(248,785)(227,227)(257,791)
Gross profit:146,898180,514134,415109,200111,647142,466
Operating expenses(156,363)(155,156)(143,722)(148,914)(148,141)(152,608)
Operating income (loss):(9,465)25,358(9,307)(39,714)(36,494)(10,142)
Nonoperating income (expense)4,62712,0642,169(10,668)1,081(20,479)
Investment income, nonoperating47146726910453366
Other nonoperating income (expense)10,95618,852(7,105)(3,520)6,020(8,228)
Interest and debt expense(6,800) 15,521(7,252)(4,992)(12,617)
Income (loss) from continuing operations before equity method investments, income taxes:(11,638)37,4228,383(57,634)(40,405)(43,238)
Other undisclosed income (loss) from continuing operations before income taxes6,800 (15,521)7,2524,99212,617
Income (loss) from continuing operations before income taxes:(4,838)37,422(7,138)(50,382)(35,413)(30,621)
Income tax expense(3,572)(3,964)(4,792)(5,339)(6,437)(2,447)
Income (loss) from continuing operations:(8,410)33,458(11,930)(55,721)(41,850)(33,068)
Loss before gain (loss) on sale of properties:(11,930)(55,721)(41,850)(33,068)
Net income (loss) available to common stockholders, diluted:(8,410)33,458(11,930)(55,721)(41,850)(33,068)

Comprehensive Income ($ in thousands)

6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
Net income (loss):(8,410)33,458(11,930)(55,721)(41,850)(33,068)
Other comprehensive income      14,472
Other undisclosed comprehensive income  22,864    
Comprehensive income (loss):(8,410)56,322(11,930)(55,721)(41,850)(18,596)
Other undisclosed comprehensive loss, net of tax, attributable to parent(8,555)(6,202)(9,596)(13,927)(11,114)(8,561)
Comprehensive income (loss), net of tax, attributable to parent:(16,965)50,120(21,526)(69,648)(52,964)(27,157)

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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