ADTRAN, Inc. (ADTN) financial statements (2022 and earlier)

Company profile

Business Address 901 EXPLORER BLVD
HUNTSVILLE, AL 35806
State of Incorp. DE
Fiscal Year End December 31
SIC 3661 - Telephone and Telegraph Apparatus (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:57,00063,300107,000 102,600123,100
Cash and cash equivalents56,60360,16173,773 86,43379,895
Short-term investments3503,13133,243 16,12943,188
Other undisclosed cash, cash equivalents, and short-term investments478(16) 3817
Restricted cash and investments21518    
Receivables169,970120,458107,097 170,728108,243
Inventory, net of allowances, customer advances and progress billings139,891125,45798,305 122,542105,117
Inventory139,891125,45798,305 122,542105,117
Contract with customer, asset464632,812 
Capital leases, lessor balance sheet, net investment in direct financing and sales type leases 11,325 
Other undisclosed current assets8,7858,1225,096 5,91916,442
Total current assets:376,325317,418320,310 413,114352,902
Noncurrent Assets
Property, plant and equipment55,76662,39973,708 85,07984,469
Long-term investments and receivables70,61580,13094,489 130,256176,102
Long-term investments70,61580,13094,489 130,256176,102
Intangible assets, net (including goodwill)26,26130,43834,789 3,4923,492
Goodwill6,9686,9686,968 3,4923,492
Intangible assets, net (excluding goodwill)19,29323,47027,821   
Deferred income tax assets9,0799,869 
Other noncurrent assets30,97125,42514,261 13,72512,234
Deferred tax assets, net 23,42838,036
Other undisclosed noncurrent assets  7,561   
Total noncurrent assets:192,692208,261224,808 255,980314,333
TOTAL ASSETS:569,017525,679545,118 669,094667,235
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities123,94966,49262,272 93,748110,209
Accounts payable102,48949,92944,870 60,63277,342
Accrued liabilities    13,23212,434
Employee-related liabilities14,90015,26213,890 15,94820,433
Taxes payable6,5601,3013,512 3,936 
Deferred revenue17,73714,09211,963
Debt  27,276   
Deferred revenue and credits13,07016,326
Other undisclosed current liabilities13,67313,60911,200   
Total current liabilities:155,35994,193112,711 106,818126,535
Noncurrent Liabilities
Long-term debt and lease obligation    25,60026,800
Long-term debt, excluding current maturities    25,60026,800
Liabilities, other than long-term debt56,55658,54251,981 38,76534,383
Deferred revenue and credits4,5566,333
Deferred revenue9,2716,8886,012
Deferred compensation liability, classified31,38325,86621,698   
Liability, pension and other postretirement and postemployment benefits11,40218,66415,886   
Other liabilities4,5007,1248,385 34,20928,050
Total noncurrent liabilities:56,55658,54251,981 64,36561,183
Total liabilities:211,915152,735164,692 171,183187,718
Stockholders' equity
Stockholders' equity attributable to parent357,102372,944380,426 497,911479,517
Common stock797797797 797797
Treasury stock, value(661,547)(679,493)(685,288) (682,284)(683,991)
Additional paid in capital288,946281,466274,632 260,515252,957
Accumulated other comprehensive loss(11,914)(11,639)(16,417) (3,295)(12,188)
Retained earnings740,820781,813806,702 922,178921,942
Total stockholders' equity:357,102372,944380,426 497,911479,517
TOTAL LIABILITIES AND EQUITY:569,017525,679545,118 669,094667,235

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues563,004506,510530,061 666,900636,781
Revenue, net666,900636,781
Cost of revenue
(Cost of Goods and Services Sold)
(344,627)(288,959)(310,894) (363,240)(345,437)
Gross profit:218,377217,551219,167 303,660291,344
Operating expenses(233,077)(227,324)(260,360) (265,923)(256,609)
Other undisclosed operating income  1,230   
Operating income (loss):(14,700)(9,773)(39,963) 37,73734,735
Nonoperating income8,4293,53215,697 2,8215,272
Investment income, nonoperating4,6056,78614,199 4,3805,923
Other nonoperating income (expense)3,824(3,254)1,498 (1,559)(651)
Interest and debt expense(34)(5)(511) (556)(572)
Income (loss) from continuing operations before equity method investments, income taxes:(6,305)(6,246)(24,777) 40,00239,435
Other undisclosed income from continuing operations before income taxes    4,6857,460
Income (loss) from continuing operations before income taxes:(6,305)(6,246)(24,777) 44,68746,895
Income tax expense (benefit)(2,330)8,624(28,205) (20,847)(11,666)
Net income (loss) available to common stockholders, diluted:(8,635)2,378(52,982) 23,84035,229

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):(8,635)2,378(52,982) 23,84035,229
Other comprehensive income (loss)(275)4,778(2,386) 8,893(3,219)
Comprehensive income (loss), net of tax, attributable to parent:(8,910)7,156(55,368) 32,73332,010

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.

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