Avid Technology, Inc. (AVID) financial statements (2021 and earlier)

Company profile

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

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments80 56574518
Cash and cash equivalents80 56574518
Restricted cash and investments1 9   
Receivables79 68404459
Inventory, net of allowances, customer advances and progress billings27 33385148
Inventory27 33385148
Prepaid expense6 9867
Other current assets2 61066
Other undisclosed current assets19 17   
Total current assets:213 197154151137
Noncurrent Assets
Operating lease, right-of-use asset29 
Property, plant and equipment17 22223035
Intangible assets, net (including goodwill)33 37465666
Goodwill33 33333333
Intangible assets, net (excluding goodwill)  4142333
Deferred income tax assets7 
Other noncurrent assets6 911127
Deferred tax assets, net   (3)
Other undisclosed noncurrent assets  1115
Total noncurrent assets:92 698099110
TOTAL ASSETS:305 266235250248
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities95 1018987110
Accounts payable22 39302646
Accrued liabilities42 38323435
Employee-related liabilities29 22252528
Taxes payable2 2211
Deferred revenue88 
Debt   2  
Deferred revenue and credits86121146190
Other undisclosed current liabilities5 1455
Total current liabilities:188 188216238305
Noncurrent Liabilities
Long-term debt and lease obligation30     
Long-term debt, excluding current maturities1     
Operating lease, liability28 
Liabilities, other than long-term debt19 5678
Deferred revenue11 
Deferred compensation liability, classified  5657
Restructuring reserve  0111
Other liabilities8     
Other undisclosed noncurrent liabilities201 5357
Total noncurrent liabilities:250 1091215
Other undisclosed liabilities  235278269258
Total liabilities:438 433503519577
Stockholders' equity
Stockholders' equity attributable to parent(133) (167)(269)(270)(330)
Common stock0 0000
Treasury stock, value  (5)(18)(32)(58)
Additional paid in capital1,037 1,0291,0361,0431,056
Accumulated other comprehensive loss(2) (4)(2)(10)(8)
Accumulated deficit(1,168) (1,187)(1,285)(1,271)(1,319)
Total stockholders' equity:(133) (167)(269)(270)(330)
TOTAL LIABILITIES AND EQUITY:305 266235250248

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues360 413419512506
Revenue, net413419512506
Cost of revenue(132) (174)(177)(179)(197)
Cost of goods and services sold  (166)(169)(171)(193)
Gross profit:228 239242333308
Operating expenses(197) (225)(237)(269)(301)
Operating income:32 145647
Nonoperating income (expense)(1) 1(6)37
Foreign currency transaction gain (loss), before tax(2) 1(7)37
Other nonoperating income (expense)1 010(0)
Interest and debt expense(20) (23)(20)(19)(6)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes2 (1)7(3)(7)
Income (loss) from continuing operations before income taxes:12 (9)(13)451
Income tax expense (benefit)(1) (1)(0)32
Net income (loss) available to common stockholders, diluted:11 (11)(14)482

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):11 (11)(14)482
Other comprehensive income (loss)2 (1)7(2)(7)
Comprehensive income (loss), net of tax, attributable to parent:13 (12)(6)47(4)

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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