Fortinet, Inc. (FTNT) financial statements (2021 and earlier)

Company profile

Business Address 899 KIFER ROAD
SUNNYVALE, CA 94086
State of Incorp.
Fiscal Year End December 31
SIC 3577 - Computer Peripheral Equipment, Not Elsewhere Classified (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
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,8372,0661,6501,2511,086891720
Cash and cash equivalents1,0621,2231,112811709543283
Short-term investments776843537440377348437
Receivables720544445348313260185
Inventory, net of allowances, customer advances and progress billings14011890771078469
Inventory14011890771078469
Other undisclosed current assets43413740333673
Total current assets:2,7402,7692,2211,7171,5391,2711,047
Noncurrent Assets
Operating lease, right-of-use asset4944
Property, plant and equipment4483442712451379159
Long-term investments and receivables1181446798225273272
Long-term investments1181446798225273272
Intangible assets, net (including goodwill)12598603139226
Goodwill936738151553
Intangible assets, net (excluding goodwill)3231221625183
Deferred income tax assets245233
Other noncurrent assets63602120171411
Other undisclosed noncurrent assets25619343814718311931
Total noncurrent assets:1,3041,117857541601520378
TOTAL ASSETS:4,0453,8863,0782,2582,1401,7911,425
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities437300291233184164128
Accounts payable142968670576250
Accrued liabilities149987850363329
Employee-related liabilities1461029892786146
Taxes payable 428211483
Deferred revenue1,3931,174
Deferred revenue and credits966794645515369
Total current liabilities:1,8301,4741,2561,027829679496
Noncurrent Liabilities
Liabilities, other than long-term debt1,3591,090811641473356297
Deferred revenue and credits721542390277190
Accounts payable and accrued liabilities90837890696145
Deferred revenue1,213962
Liability for uncertainty in income taxes      45
Other liabilities5645139141917
Other undisclosed noncurrent liabilities      (45)
Total noncurrent liabilities:1,3591,090811641473356252
Total liabilities:3,1892,5642,0681,6691,3021,035749
Stockholders' equity
Stockholders' equity attributable to parent8561,3221,010589838755676
Common stock0000000
Additional paid in capital1,2071,1801,068910801688563
Accumulated other comprehensive income (loss)11(1)(1)(1)(1)(0)
Retained earnings (accumulated deficit)(352)140(58)(320)3868114
Total stockholders' equity:8561,3221,010589838755676
TOTAL LIABILITIES AND EQUITY:4,0453,8863,0782,2582,1401,7911,425

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues2,5942,1561,8011,4951,2751,009770
Revenue, net1,8011,4951,2751,009770
Cost of revenue
(Cost of Goods and Services Sold)
(570)(506)(450)(385)(338)(287)(231)
Gross profit:2,0241,6501,3511,110938722539
Operating expenses(1,493)(1,306)(1,120)(1,000)(895)(708)(480)
Operating income:532344231110431559
Nonoperating income (expense)1035201402(1)
Investment income, nonoperating18432713755
Foreign currency transaction loss, before tax      (3)
Other nonoperating income (expense)(8)(8)(7)1(7)(3)(3)
Other undisclosed income from continuing operations before equity method investments, income taxes      3
Income from continuing operations before income taxes:542379251124431762
Income tax expense (benefit)(53)(53)81(93)(11)(9)(36)
Net income available to common stockholders, diluted:4893273323132825

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:4893273323132825
Other comprehensive income (loss)   (0)0(1)(2)
Comprehensive income:4893273323132723
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(0)2 0(0)01
Comprehensive income, net of tax, attributable to parent:4883293323132724

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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