Marvell Technology, Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(In millions)

October 28,
2023

January 28,
2023

Assets

Current assets:

Cash and cash equivalents

$              725.6

$              911.0

Accounts receivable, net

1,214.6

1,192.2

Inventories

941.5

1,068.3

Prepaid expenses and other current assets

91.5

109.6

Total current assets

2,973.2

3,281.1

Property and equipment, net

701.6

577.4

Goodwill

11,586.9

11,586.9

Acquired intangible assets, net

4,290.4

5,102.0

Deferred tax assets

759.5

465.9

Other non-current assets

1,402.8

1,508.8

Total assets

$         21,714.4

$         22,522.1

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$              419.1

$              465.8

Accrued liabilities

1,119.2

1,092.0

Accrued employee compensation

245.0

244.5

Short-term debt

96.3

584.4

Total current liabilities

1,879.6

2,386.7

Long-term debt

4,089.6

3,907.7

Other non-current liabilities

511.8

590.5

Total liabilities

6,481.0

6,884.9

Stockholders' equity:

Common stock

1.7

1.7

Additional paid-in capital

14,805.2

14,512.0

Accumulated other comprehensive loss

(1.4)

—

Retained earnings

427.9

1,123.5

Total stockholders' equity

15,233.4

15,637.2

Total liabilities and stockholders' equity

$         21,714.4

$         22,522.1