Trimble Announces First Quarter 2023 Results

 

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)

(Unaudited)



As of


As of


First Quarter of


Year End


2023


2022

Assets




Current assets:




Cash and cash equivalents

$                  1,038.1


$                     271.0

Accounts receivable, net

578.8


643.3

Inventories

409.4


402.5

Other current assets

212.6


201.4

Total current assets

2,238.9


1,518.2

Property and equipment, net

215.1


219.0

Operating lease right-of-use assets

113.2


121.2

Goodwill

4,176.6


4,137.9

Other purchased intangible assets, net

484.3


498.1

Deferred income tax assets

432.4


438.4

Other non-current assets

352.4


336.2

Total assets

$                  8,012.9


$                  7,269.0

Liabilities and Stockholders' Equity




Current liabilities:




Short-term debt

$                     300.0


$                     300.0

Accounts payable

166.5


175.5

Accrued compensation and benefits

130.8


159.4

Deferred revenue

659.3


639.1

Other current liabilities

224.3


188.1

Total current liabilities

1,480.9


1,462.1

Long-term debt

1,786.9


1,220.0

Deferred revenue, non-current

101.5


98.5

Deferred income tax liabilities

119.9


157.8

Income taxes payable

40.9


40.9

Operating lease liabilities

99.6


105.1

Other non-current liabilities

138.0


134.4

Total liabilities

3,767.7


3,218.8

Stockholders' equity:




Common stock

0.2


0.2

Additional paid-in-capital

2,107.5


2,054.9

Retained earnings

2,355.9


2,230.0

Accumulated other comprehensive loss

(218.4)


(234.9)

Total stockholders' equity

4,245.2


4,050.2

Total liabilities and stockholders' equity

$                  8,012.9


$                  7,269.0


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