Avid Technology, Inc. (AVID) Financial Statements (2023 and Earlier)

Company Profile

Business Address 75 NETWORK DRIVE
BURLINGTON, MA 01803
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete financial analysis Financial benchmarking

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

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 investments5780 565745
Cash and cash equivalents5780 565745
Restricted cash and investments21 9  
Receivables7779 684044
Inventory, net of allowances, customer advances and progress billings2027 333851
Inventory2027 333851
Prepaid expense56 986
Contract with customer, asset19   
Other current assets22 6106
Other undisclosed current assets 19 17  
Total current assets:183213 197154151
Noncurrent Assets
Operating lease, right-of-use asset2429 
Property, plant and equipment1617 222230
Intangible assets, net (including goodwill)3333 374656
Goodwill3333 333333
Intangible assets, net (excluding goodwill)   41423
Deferred income tax assets57 
Other noncurrent assets136 91112
Other undisclosed noncurrent assets   111
Total noncurrent assets:9192 698099
TOTAL ASSETS:274305 266235250
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities10195 1018987
Accounts payable2722 393026
Accrued liabilities3842 383234
Employee-related liabilities3529 222525
Taxes payable12 221
Deferred revenue8788 
Debt0   2 
Deferred revenue and credits86121146
Other undisclosed current liabilities95 145
Total current liabilities:197188 188216238
Noncurrent Liabilities
Long-term debt and lease obligation2430    
Long-term debt, excluding current maturities11    
Operating lease, liability2328 
Liabilities, other than long-term debt1719 567
Deferred revenue1111 
Deferred compensation liability, classified   565
Restructuring reserve   011
Other liabilities68    
Other undisclosed noncurrent liabilities160201 535
Total noncurrent liabilities:201250 10912
Other undisclosed liabilities   235278269
Total liabilities:398438 433503519
Stockholders' equity
Stockholders' equity attributable to parent(124)(133) (167)(269)(270)
Common stock00 000
Treasury stock, value(25)  (5)(18)(32)
Additional paid in capital1,0321,037 1,0291,0361,043
Accumulated other comprehensive loss(4)(2) (4)(2)(10)
Accumulated deficit(1,127)(1,168) (1,187)(1,285)(1,271)
Total stockholders' equity:(124)(133) (167)(269)(270)
TOTAL LIABILITIES AND EQUITY:274305 266235250

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues410360 413419512
Revenue, net413419512
Cost of revenue(144)(132) (174)(177)(179)
Cost of goods and services sold   (166)(169)(171)
Gross profit:266228 239242333
Operating expenses(220)(197) (225)(237)(269)
Operating income:4632 14564
Nonoperating income (expense)5(1) 1(6)3
Foreign currency transaction gain (loss), before tax (2) 1(7)3
Other nonoperating income51 010
Interest and debt expense(7)(20) (23)(20)(19)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 2 (1)7(3)
Income (loss) from continuing operations before income taxes:4412 (9)(13)45
Income tax expense (benefit)(3)(1) (1)(0)3
Net income (loss) available to common stockholders, diluted:4111 (11)(14)48

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):4111 (11)(14)48
Other comprehensive income (loss)(2)2 (1)7(2)
Comprehensive income (loss), net of tax, attributable to parent:3913 (12)(6)47

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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