Qorvo® Announces Fiscal 2025 First Quarter Financial Results

CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

  June 29, 2024  March 30, 2024
ASSETS   
Current assets:   
Cash and cash equivalents$1,082,415  $1,029,258 
Accounts receivable, net 424,601   412,960 
Inventories 726,558   710,555 
Other current assets 144,620   133,983 
Assets of disposal group held for sale    159,278 
Total current assets 2,378,194   2,446,034 
    
Property and equipment, net 866,836   870,982 
Goodwill 2,533,457   2,534,601 
Intangible assets, net 473,589   509,383 
Long-term investments 25,716   23,252 
Other non-current assets   169,507       170,383  
Total assets $ 6,447,299     $ 6,554,635  
       
LIABILITIES AND STOCKHOLDERS’ EQUITY      
Current liabilities:      
Accounts payable and accrued liabilities $ 604,408     $ 589,760  
Current portion of long-term debt   411,853       438,740  
Other current liabilities   200,283       113,215  
Liabilities of disposal group held for sale         88,372  
Total current liabilities   1,216,544       1,230,087  
       
Long-term debt   1,549,257       1,549,272  
Other long-term liabilities   195,243       218,904  
Total liabilities   2,961,044       2,998,263  
       
Stockholders’ equity   3,486,255       3,556,372  
Total liabilities and stockholders’ equity $ 6,447,299     $ 6,554,635  
               

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