GARMIN LTD (GRMN) FY2024 Annual Balance Sheet

GARMIN LTD (GRMN) FY2024 Annual Balance Sheet

Balance sheet as of 2024-12-28. The chart shows assets, liabilities and equity at that date.

Assets

9,630,527,000 US dollars

Current assets

5,336,153,000 US dollars

Non-current assets

4,294,374,000 US dollars

Liabilities (calculated)

1,782,129,000 US dollars

Current liabilities

1,507,858,000 US dollars

Non-current liabilities

274,271,000 US dollars

Equity

7,848,398,000 US dollars

Cash and cash equivalents

2,079,468,000 US dollars

Inventories

1,473,978,000 US dollars

Accounts receivable, less allowance for doubtful accounts of $8,644 in 2024 and $7,152 in 2023

983,404,000 US dollars

Marketable securities

421,270,000 US dollars

Prepaid expenses and other current assets

353,993,000 US dollars

Deferred costs

24,040,000 US dollars

Property and equipment, net

1,236,884,000 US dollars

Noncurrent marketable securities

1,198,331,000 US dollars

Deferred income tax assets

822,521,000 US dollars

Goodwill

603,947,000 US dollars

Operating lease right-of-use assets

164,656,000 US dollars

Other intangible assets, net

154,163,000 US dollars

Other noncurrent assets

106,974,000 US dollars

Noncurrent deferred costs

6,898,000 US dollars

Accounts payable

359,365,000 US dollars

Income taxes payable

294,582,000 US dollars

Other accrued expenses

216,721,000 US dollars

Salaries and benefits payable

210,879,000 US dollars

Dividend payable

144,349,000 US dollars

Deferred revenue

110,997,000 US dollars

Accrued sales program costs

108,492,000 US dollars

Accrued warranty costs

62,473,000 US dollars

Noncurrent operating lease liabilities

134,886,000 US dollars

Deferred income tax liabilities

103,274,000 US dollars

Noncurrent deferred revenue

28,321,000 US dollars

Noncurrent income taxes payable

7,014,000 US dollars

Other noncurrent liabilities

776,000 US dollars

Retained earnings

5,999,183,000 US dollars

Additional paid-in capital

2,247,484,000 US dollars

Common shares (194,901 and 195,880 shares authorized and issued; 192,468 and 191,777 shares outstanding)

19,490,000 US dollars

Treasury shares (2,433 and 4,103 shares)

negative 270,521,000 US dollars

Accumulated other comprehensive income (loss)

negative 147,238,000 US dollars

Gross equity (calculated)

8,266,157,000 US dollars. Net equity plus the magnitudes of its negative contributions equals gross positive equity. The negative contributions enter this reconciliation as add-backs; their filed signs stay negative.

Chart connections

• Assets equal liabilities plus consolidated equity. Consolidated equity includes noncontrolling interests when reported.
• Treasury shares and other negative equity contributions reduce equity.