SunPower Corporation (SPWR) Financial Statements (2024 and earlier)

Company Profile

Business Address 880 HARBOUR WAY SOUTH, SUITE 600
RICHMOND, CA 94804
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 investments510493233423309435
Cash and cash equivalents377127233423309435
Short-term investments 132366    
Restricted cash and investments1146264244
Receivables174131110234185227
Inventory, net of allowances, customer advances and progress billings296243211358308353
Inventory296243211358308353
Prepaid expense343622152424
Deferred costs1265327303040
Advances on inventory purchases12331073831
Costs in excess of billings18
Other current assets    001
Other undisclosed current assets91109179186136180
Total current assets:1,2531,0737901,3811,0741,352
Noncurrent Assets
Operating lease, right-of-use asset37595451
Property, plant and equipment7635473248401,148
Long-term investments and receivables     20339
Capital leases, lessor balance sheet, net investment in direct financing and sales type leases20339
Intangible assets, net (including goodwill), including:150151171326
Goodwill126126    
Intangible assets, net (excluding goodwill)2425  1326
Other undisclosed intangible assets, net (including goodwill)   17  
Restricted cash and investments1917991972
Other noncurrent assets18717369633116280
Other undisclosed noncurrent assets42465068226613
Total noncurrent assets:5114818567911,2792,278
TOTAL ASSETS:1,7641,5551,6462,1722,3533,629
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities243177288646561675
Accounts payable243177166442326407
Accrued liabilities   122204235268
Deferred revenue1428972 
Debt821131602194058
Billings in excess of cost9
Customer advances and deposits55
Contract with customer, liability104
Other undisclosed current liabilities5841311034 300
Total current liabilities:1,0525105308987051,096
Noncurrent Liabilities
Long-term debt and lease obligation0391009798571,244
Long-term debt, excluding current maturities00569338571,244
Liabilities, other than long-term debt1561921882729391,024
Customer advances or deposits69
Deferred revenue12283068
Contract with customer, liability100
Other liabilities115165158204839955
Operating lease, liability29394446
Other undisclosed noncurrent liabilities  424422123
Total noncurrent liabilities:1566557101,2521,7982,271
Total liabilities:1,2081,1651,2402,1502,5033,367
Temporary equity, carrying amount      15
Equity
Equity, attributable to parent, including:55538840410(209)143
Treasury stock, value(227)(215)(205)(193)(187)(182)
Additional paid in capital2,8562,7152,6862,6622,4632,443
Accumulated other comprehensive income (loss)12119(10)(4)(3)
Accumulated deficit(2,086)(2,122)(2,085)(2,450)(2,481)(2,115)
Other undisclosed equity, attributable to parent000000
Equity, attributable to noncontrolling interest1221159104
Total equity:55639040621(150)247
TOTAL LIABILITIES AND EQUITY:1,7641,5551,6462,1722,3533,629

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
Revenues1,7421,3231,1251,8641,7261,872
Revenue, net1,872
Cost of revenue(1,339)(1,102)(958)(1,738)(2,023)(1,887)
Gross profit:403222167126(297)(15)
Operating expenses(412)(249)(173) (552)(1,003)
Operating income (loss):(9)(27)(6)126(849)(1,018)
Nonoperating income (expense)97(5)66117(50)(99)
Investment income, nonoperating    17  
Other nonoperating income (expense)11523693 55(11)
Interest and debt expense(22)(29)(33)(53)(108)(90)
Other undisclosed income from continuing operations before equity method investments, income taxes  29  10890
Income (loss) from continuing operations before equity method investments, income taxes:66(33)62190(899)(1,117)
Income (loss) from equity method investments  (1)(7)(18)20
Other undisclosed income from continuing operations before income taxes220    
Income (loss) from continuing operations before income taxes:88(33)62183(916)(1,097)
Income tax expense (benefit)8(5) (27)(1)4
Income (loss) from continuing operations:96(38)62156(917)(1,093)
Income (loss) before gain (loss) on sale of properties:(38)49756(917)(1,093)
Loss from discontinued operations   (124)   
Other undisclosed net loss(49)  (64)  
Net income (loss):47(38)497(8)(917)(1,093)
Net income (loss) attributable to noncontrolling interest(4)1130106242
Other undisclosed net loss attributable to parent   (22)   
Net income (loss) available to common stockholders, basic:43(37)47522(811)(851)
Other undisclosed net income (loss) available to common stockholders, diluted51 139   
Net income (loss) available to common stockholders, diluted:94(37)61422(811)(851)

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):47(38)497(8)(917)(1,093)
Other comprehensive income (loss)021(5)(1)4
Other undisclosed comprehensive loss   (22)   
Comprehensive income (loss):48(36)475(13)(919)(1,089)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(4)1130106242
Comprehensive income (loss), net of tax, attributable to parent:43(35)47617(812)(847)

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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