Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2022 Financial Results

 

 

Marvell Technology, Inc.
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)




Three Months Ended


Year Ended



January 29, 2022


January 30,
2021


January 29, 2022


January 30, 2021

Cash flows from operating activities:









Net income (loss)


$          6,168


$       16,536


$    (421,034)


$    (277,298)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:









Depreciation and amortization


76,257


47,990


265,934


197,912

Share-based compensation


134,757


59,479


460,679


241,539

Amortization of acquired intangible assets


294,784


109,682


979,377


443,616

Amortization of inventory fair value adjustment associated with acquisitions


3,243



194,273


17,284

Amortization of deferred debt issuance costs and debt discounts


2,526


6,809


21,557


10,026

Restructuring related impairment charges


995


7,344


6,200


130,903

Deferred income taxes


(26,324)


(39,906)


(93,894)


(39,491)

Other expense, net


9,110


5,475


69,163


24,923

Changes in assets and liabilities:









Accounts receivable


(67,635)


(46,397)


(409,079)


(44,322)

Inventories


(91,211)


96


(291,886)


29,913

Prepaid expenses and other assets


(96,467)


(32,942)


(161,806)


(41,634)

Accounts payable


(631)


4,895


93,157


39,663

Accrued liabilities and other non-current liabilities


84,152


17,795


77,148


44,612

Accrued employee compensation


16,599


1,439


29,579


39,641

Net cash provided by operating activities


346,323


158,295


819,368


817,287

Cash flows from investing activities:









Purchases of technology licenses


(8,426)


(4,232)


(17,797)


(12,708)

Purchases of property and equipment


(38,841)


(18,556)


(169,324)


(106,798)

Acquisitions, net of cash acquired


(15,207)



(3,554,936)


Other, net


(616)


(361)


(3,073)


(138)

Net cash used in investing activities


(63,090)


(23,149)


(3,745,130)


(119,644)

Cash flows from financing activities:









Repurchases of common stock





(25,202)

Proceeds from employee stock plans


41,700


36,145


84,484


86,635

Tax withholding paid on behalf of employees for net share settlement


(136,656)


(25,468)


(305,657)


(108,094)

Dividend payments to stockholders


(50,731)


(40,463)


(191,049)


(160,574)

Payments on technology license obligations


(36,577)


(23,224)


(134,435)


(100,018)

Proceeds from issuance of debt


90,000



3,896,096


Principal payments of debt


(100,938)


(150,000)


(526,876)


(250,000)

Payment for repurchases and settlement of convertible notes




(181,207)


Proceeds from capped calls




160,319


Payment of equity and debt financing costs



(15,710)


(11,850)


(38,023)

Other, net




1,003


(1,504)

Net cash provided by (used in) financing activities


(193,202)


(218,720)


2,790,828


(596,780)

Net increase (decrease) in cash and cash equivalents


90,031


(83,574)


(134,934)


100,863

Cash and cash equivalents at beginning of period


523,502


832,041


748,467


647,604

Cash and cash equivalents at end of period


$     613,533


$     748,467


$     613,533


$     748,467


« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise