GARMIN LTD GRMN Balance Sheet

Garmin ltd (GRMN)

Balance Sheet / Yearly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Dec'08
Assets
Current assets:
Cash and cash equivalents
1,048	1,027	976	820	1,115	1,201	1,056	946	898	891	891	859	833	846	912	801	857	833	914	938	1,171	1,196	1,154	1,234	1,136	1,179	1,068	1,083	1,093	1,231	1,247	1,267	1,285	1,287	1,389	1,418	1,210	1,260	1,235	1,173	1,291	1,091	1,011	958	696
Marketable securities
391	376	300	239	197	182	173	173	167	161	253	248	258	266	201	252	198	215	211	199	270	167	151	160	163	149	134	142	145	153	122	97	89	111	72	62	41	24	21	18	19	19	17	18	12
Accounts receivable, net
500	706	558	583	453	569	467	533	409	590	457	514	391	527	461	510	408	531	431	502	425	570	478	496	427	564	475	484	450	603	508	486	430	607	519	493	434	747	524	499	418	874	573	519	741
Inventories
790	752	749	648	598	561	556	501	547	517	575	525	533	484	534	508	517	500	503	458	470	420	466	429	442	382	416	383	396	389	443	384	407	397	461	385	411	387	494	358	356	309	373	323	425
Deferred income taxes (Note 6)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	49	53	56	56	59	67	67	69	67	63	68	68	50	47	46	53	26	27	33	33	58	57	60	61	52	59	49
Deferred costs
23	25	26	27	27	28	28	31	29	30	47	49	46	47	46	46	50	49	47	48	48	51	52	47	52	57	56	54	53	53	50	46	41	40	31	28	22	20	-	-	-	5	-	-	-
Loan receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	42	137	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses and other current assets
174	169	146	141	119	120	117	137	138	153	107	106	94	89	90	93	96	81	72	83	57	48	59	58	54	55	225	135	106	35	50	51	48	77	53	46	38	24	35	52	63	34	49	65	58
Total current assets
2,928	3,057	2,757	2,460	2,512	2,665	2,400	2,323	2,191	2,346	2,332	2,304	2,156	2,263	2,247	2,212	2,129	2,211	2,231	2,283	2,500	2,510	2,421	2,496	2,387	2,595	2,444	2,346	2,313	2,536	2,473	2,381	2,349	2,574	2,553	2,462	2,192	2,498	2,371	2,159	2,209	2,396	2,078	1,944	1,984
Property and equipment, net
Land and improvements
-	-	-	-	-	131	-	-	-	114	-	-	-	104	-	-	-	85	-	-	-	94	-	-	-	98	-	-	-	97	-	-	-	95	-	-	-	94	-	-	-	92	-	-	88
Building and improvements
-	-	-	-	-	539	-	-	-	482	-	-	-	376	-	-	-	351	-	-	-	324	-	-	-	300	-	-	-	284	-	-	-	277	-	-	-	274	-	-	-	268	-	-	244
Office furniture and equipment
-	-	-	-	-	264	-	-	-	246	-	-	-	222	-	-	-	206	-	-	-	188	-	-	-	156	-	-	-	135	-	-	-	112	-	-	-	98	-	-	-	84	-	-	72
Manufacturing equipment
-	-	-	-	-	162	-	-	-	156	-	-	-	129	-	-	-	131	-	-	-	128	-	-	-	123	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	115	-	-	113
Engineering equipment
-	-	-	-	-	154	-	-	-	141	-	-	-	124	-	-	-	113	-	-	-	102	-	-	-	96	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	65	-	-	59
Vehicles
-	-	-	-	-	20	-	-	-	21	-	-	-	21	-	-	-	20	-	-	-	20	-	-	-	20	-	-	-	20	-	-	-	19	-	-	-	18	-	-	-	15	-	-	14
Property and equipment, gross
-	-	-	-	-	1,273	-	-	-	1,162	-	-	-	979	-	-	-	908	-	-	-	859	-	-	-	796	-	-	-	759	-	-	-	711	-	-	-	677	-	-	-	640	-	-	593
Accumulated depreciation
-	-	-	-	-	609	-	-	-	566	-	-	-	496	-	-	-	462	-	-	-	428	-	-	-	381	-	-	-	349	-	-	-	294	-	-	-	249	-	-	-	198	-	-	148
Property and equipment, net
754	728	710	702	672	663	650	637	604	595	554	517	503	482	454	450	448	446	439	445	436	430	431	428	417	414	413	410	407	409	407	407	412	417	423	423	427	427	427	426	432	441	444	443	445
Operating lease right-of-use assets
66	63	55	59	54	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash
0	0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	1	1	1	0	0	0	2	2	2	1
Marketable securities
1,199	1,205	1,252	1,319	1,337	1,330	1,301	1,302	1,309	1,260	1,210	1,200	1,211	1,213	1,327	1,306	1,279	1,343	1,290	1,309	1,259	1,407	1,453	1,456	1,571	1,502	1,594	1,475	1,479	1,488	1,349	1,280	1,161	1,097	983	1,016	1,027	777	639	636	681	746	770	524	262
Deferred income taxes
263	268	158	162	170	176	186	188	199	195	262	265	283	110	121	118	117	116	67	67	66	67	84	86	87	88	94	95	92	93	107	107	107	88	73	73	73	73	20	20	20	20	-	-	9
Noncurrent deferred costs
21	23	25	27	28	29	29	30	32	33	69	62	57	56	51	47	39	38	32	32	32	36	35	40	38	41	39	37	37	42	39	38	38	40	36	31	25	24	-	-	-	7	-	-	-
Intangible assets, net
658	659	637	653	411	417	424	409	421	409	313	309	303	305	301	303	306	245	220	222	224	218	221	213	216	219	221	220	223	232	241	241	249	246	255	181	184	183	196	184	200	198	212	208	214
Other assets
160	159	156	141	92	100	102	97	97	107	93	88	84	94	88	88	88	97	106	62	24	21	21	19	20	17	14	12	14	15	11	4	5	5	7	8	4	1	2	2	6	15	8	20	16
Total assets
6,053	6,166	5,755	5,524	5,280	5,382	5,095	4,988	4,855	4,948	4,835	4,748	4,600	4,525	4,591	4,527	4,410	4,499	4,388	4,423	4,543	4,693	4,669	4,741	4,738	4,879	4,823	4,599	4,570	4,819	4,630	4,462	4,324	4,471	4,334	4,198	3,937	3,988	3,658	3,431	3,551	3,828	3,516	3,144	2,934
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
200	240	235	214	170	204	197	166	136	169	158	161	136	172	148	151	137	178	158	146	125	149	144	132	124	146	151	128	112	131	147	138	109	164	182	125	118	132	194	150	109	203	185	137	160
Salaries and benefits payable
110	128	109	106	95	113	101	95	90	102	89	86	69	88	86	68	75	70	70	55	63	62	67	52	58	59	63	50	55	55	56	40	46	45	46	37	34	49	37	36	34	45	32	28	34
Accrued warranty costs
39	39	37	39	35	38	35	38	35	36	35	37	34	37	38	34	31	30	24	26	23	27	26	27	25	26	34	34	34	37	39	40	42	46	43	41	44	49	44	41	58	87	83	79	87
Accrued sales program costs
58	112	58	74	54	90	59	65	56	93	53	51	46	80	49	49	49	67	46	40	37	58	38	33	31	50	36	39	39	57	31	36	32	52	44	48	49	107	57	46	41	119	56	69	90
Deferred revenue
89	94	95	94	93	96	97	98	98	103	138	145	140	146	146	150	154	164	169	174	185	203	210	221	238	256	255	251	250	252	232	213	199	188	139	134	104	89	61	46	35	27	48	-	0
Accrued royalty costs
5	15	11	14	16	24	27	28	17	32	37	29	26	36	34	44	25	30	10	9	5	51	52	9	7	64	34	9	10	71	60	27	14	99	77	27	7	95	-	-	-	103	-	-	30
Accrued advertising expense
19	35	21	28	18	31	24	29	16	30	20	23	17	37	22	24	20	33	20	29	17	26	23	17	12	19	16	16	14	25	19	16	10	31	24	23	17	21	19	22	10	34	-	-	31
Other accrued expenses
94	95	87	90	81	69	67	66	69	93	105	95	79	70	81	77	75	74	70	76	68	67	77	70	73	65	73	72	59	69	63	73	66	67	97	70	58	63	111	81	63	40	141	94	24
Deferred income taxes (Note 6)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	3	13	17	6	0	1	0	0	0	0	0	6	5	6	5	4	4	4	4	-	-	-	2	-	-	-
Income taxes payable
54	56	60	39	55	51	43	40	37	33	15	10	20	16	24	24	14	21	18	10	190	182	197	34	36	38	44	24	27	32	50	45	66	77	20	13	29	56	42	11	25	22	14	20	20
Dividend payable
108	217	325	324	-	200	200	300	0	95	191	286	0	96	288	384	96	192	291	389	91	185	277	369	87	175	263	263	0	175	175	263	-	77	232	388	-	-	-	-	299	-	150	-	-
Total current liabilities
781	1,035	1,042	1,027	622	921	854	929	557	792	846	928	571	782	919	1,010	680	865	894	961	824	1,033	1,123	969	697	905	974	889	605	909	883	901	594	858	914	916	469	669	569	436	679	685	712	429	479
Deferred income taxes
117	114	113	105	98	92	82	74	74	76	68	56	62	61	56	54	60	56	43	41	39	39	36	1	1	1	3	1	2	2	7	5	7	4	12	13	11	6	11	8	10	10	8	14	13
Noncurrent income taxes
104	105	105	121	127	127	126	140	140	138	123	131	124	121	117	111	103	101	96	85	78	80	135	147	141	140	121	173	171	181	171	165	165	161	165	157	147	153	154	275	259	255	239	236	214
Noncurrent deferred revenue
61	67	69	71	72	76	77	84	83	87	155	145	138	140	134	130	126	128	118	124	121	135	136	141	144	171	166	167	171	193	179	178	177	188	173	146	114	108	70	57	45	38	-	-	0
Noncurrent operating lease liabilities
52	49	42	46	43	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
0	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Shares, CHF 0.10 par value, 198,077 shares authorized and issued; 191,017 shares outstanding at March 28, 2020 and 190,686 shares outstanding at December 28, 2019
17	17	17	17	17	17	17	17	17	17	17	17	17	17	0	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,797	1,792	0	0	1	1	1	1
Shares, CHF 10.00 par value, 208,077 shares authorized and issued; and 189,722 shares outstanding at December 26, 2015
-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additional paid-in capital
1,830	1,835	1,841	1,825	1,810	1,823	1,842	1,828	1,818	1,828	1,851	1,839	1,831	1,836	1,862	73	70	62	89	85	80	73	92	87	80	79	87	83	77	72	86	78	70	61	61	53	45	38	11	-	0	32	35	23	0
Treasury stock
335	345	368	368	381	397	433	433	450	468	506	496	474	455	464	445	434	414	425	374	345	330	350	274	145	120	100	93	79	81	95	96	98	103	113	116	118	106	123	-	-	-	-	-	-
Retained earnings
3,390	3,229	2,868	2,641	2,850	2,710	2,520	2,336	2,546	2,418	2,230	2,083	2,294	2,056	1,919	1,794	2,018	1,930	1,795	1,676	1,928	1,859	1,649	1,796	1,984	1,865	1,701	1,514	1,693	1,604	1,477	1,336	1,500	1,413	1,248	1,097	1,377	1,264	1,136	2,648	2,552	2,816	2,537	2,472	2,262
Accumulated other comprehensive income
31	55	20	34	18	8	4	9	64	56	46	40	32	-36	25	-1	-14	-30	-23	24	16	2	47	73	35	38	71	64	129	138	121	95	109	87	74	129	91	56	32	2	1	-13	-18	-35	-37
Total stockholders’ equity
4,934	4,793	4,380	4,150	4,315	4,162	3,952	3,758	3,997	3,852	3,639	3,484	3,702	3,418	3,362	3,218	3,437	3,345	3,234	3,208	3,477	3,403	3,236	3,480	3,752	3,659	3,557	3,366	3,618	3,531	3,387	3,210	3,379	3,256	3,068	2,962	3,193	3,049	2,850	2,651	2,554	2,836	2,555	2,462	2,225
Total liabilities and stockholders’ equity
6,053	6,166	5,755	5,524	5,280	5,382	5,095	4,988	4,855	4,948	4,835	4,748	4,600	4,525	4,591	4,527	4,410	4,499	4,388	4,423	4,543	4,693	4,669	4,741	4,738	4,879	4,823	4,599	4,570	4,819	4,630	4,462	4,324	4,471	4,334	4,198	3,937	3,988	3,658	3,431	3,551	3,828	3,516	3,144	2,934