Avid Technology, Inc. (AVID) financial statements (2020 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)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments52565745182548
Cash and cash equivalents52565745182548
Restricted cash and investments29     
Receivables54684044595557
Inventory, net of allowances, customer advances and progress billings32333851484860
Inventory32333851484860
Prepaid expense13986778
Contract with customer, asset14 
Deferred tax assets     (0)
Other current assets7610661817
Other undisclosed current assets 17   01
Total current assets:174197154151137153191
Noncurrent Assets
Operating lease, right-of-use asset31
Property, plant and equipment20222230353235
Intangible assets, net (including goodwill)333746566624
Goodwill3333333333  
Intangible assets, net (excluding goodwill) 414233324
Restricted cash and investments2      
Other noncurrent assets691112722
Deferred tax assets, net   (3)(0)(1)
Other undisclosed noncurrent assets0111523
Total noncurrent assets:926980991103944
TOTAL ASSETS:266266235250248192235
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities911018987110103112
Accounts payable36393026463334
Accrued liabilities37383234353241
Employee-related liabilities17222525283330
Taxes payable2221157
Deferred revenue71
Debt8 2    
Deferred revenue and credits86121146190207211
Deferred tax liabilities     0
Other undisclosed current liabilities221455  
Total current liabilities:192188216238305310324
Noncurrent Liabilities
Long-term debt and lease obligation57      
Long-term debt, excluding current maturities28      
Operating lease, liability29
Liabilities, other than long-term debt195678229277
Deferred revenue and credits   208255
Deferred revenue14
Deferred compensation liability, classified 565754
Deferred tax liabilities, net    01
Restructuring reserve 011112
Other liabilities5    1415
Other undisclosed noncurrent liabilities1725357(214)(262)
Total noncurrent liabilities:24710912151415
Other undisclosed liabilities 235278269258208256
Total liabilities:439433503519577533594
Stockholders' equity
Stockholders' equity attributable to parent(173)(167)(269)(270)(330)(341)(359)
Common stock0000000
Treasury stock, value (5)(18)(32)(58)(68)(73)
Additional paid in capital1,0261,0291,0361,0431,0561,0501,043
Accumulated other comprehensive income (loss)(4)(4)(2)(10)(8)(2)6
Accumulated deficit(1,195)(1,187)(1,285)(1,271)(1,319)(1,322)(1,337)
Total stockholders' equity:(173)(167)(269)(270)(330)(341)(359)
TOTAL LIABILITIES AND EQUITY:266266235250248192235

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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues408413419512506530563
Revenue, net113413419512506530563
Cost of revenue(166)(174)(177)(179)(197)(204)(224)
Cost of goods and services sold(46)(166)(169)(171)(193)(204)(222)
Gross profit:242239242333308326340
Operating expenses(214)(225)(237)(269)(301)(306)(315)
Operating income:281456472025
Nonoperating income (expense)11(6)3761
Investment income, nonoperating 01 001
Foreign currency transaction gain (loss), before tax 1(7)377 
Other nonoperating income (expense) 010(0)(1)0
Interest and debt expense(30)(23)(20)(19)(6)(2)(2)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(1)(1)7(3)(7)(7) 
Income (loss) from continuing operations before income taxes:(1)(9)(13)4511724
Income tax expense (benefit)(1)(1)(0)32(2)(3)
Net income (loss) available to common stockholders, diluted:(2)(11)(14)4821521

Comprehensive Income ($ in millions)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):(2)(11)(14)4821521
Other comprehensive income (loss)(1)(1)7(2)(7)(8)(2)
Other undisclosed comprehensive loss(0)      
Comprehensive income (loss), net of tax, attributable to parent:(3)(12)(6)47(4)719

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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