# GARMIN LTD (GRMN) FY2024 Annual Balance Sheet

- Company: GARMIN LTD (GRMN)
- Period: As of 2024-12-28
- Filing: FY2024 10-K, filed 2025-02-19, accession number 0000950170-25-022760
- Page: https://plicit.ai/financials/grmn/fy2024-annual-balance-sheet
- Chart image: https://plicit.ai/charts/grmn-fy2024-annual-balance-sheet-sankey.png

## Chart details

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.