Marvell Technology, Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(In millions)

October 29,
2022

January 29,
2022

Assets

Current assets:

Cash and cash equivalents

$              723.4

$              613.5

Accounts receivable, net

1,390.7

1,048.6

Inventories

957.5

720.3

Prepaid expenses and other current assets

107.7

111.0

Total current assets

3,179.3

2,493.4

Property and equipment, net

521.5

462.8

Goodwill

11,579.0

11,511.1

Acquired intangible assets, net

5,372.6

6,153.4

Deferred tax assets

451.8

493.5

Other non-current assets

1,417.9

994.4

Total assets

$         22,522.1

$         22,108.6

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$              476.2

$              461.5

Accrued liabilities

1,111.7

622.6

Accrued employee compensation

248.3

241.3

Short-term debt

584.0

63.2

Total current liabilities

2,420.2

1,388.6

Long-term debt

3,927.6

4,484.8

Other non-current liabilities

615.3

533.1

Total liabilities

6,963.1

6,406.5

Stockholders' equity:

Common stock

1.7

1.7

Additional paid-in capital

14,367.9

14,209.0

Accumulated other comprehensive loss

(0.8)

—

Retained earnings

1,190.2

1,491.4

Total stockholders' equity

15,559.0

15,702.1

Total liabilities and stockholders' equity

$         22,522.1

$         22,108.6