Marvell Technology, Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(In millions)

January 28,
2023

January 29,
2022

Assets

Current assets:

Cash and cash equivalents

$              911.0

$              613.5

Accounts receivable, net

1,192.2

1,048.6

Inventories

1,068.3

720.3

Prepaid expenses and other current assets

109.6

111.0

Total current assets

3,281.1

2,493.4

Property and equipment, net

577.4

462.8

Goodwill

11,586.9

11,511.1

Acquired intangible assets, net

5,102.0

6,153.4

Deferred tax assets

465.9

493.5

Other non-current assets

1,508.8

994.4

Total assets

$        22,522.1

$        22,108.6

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$              465.8

$              461.5

Accrued liabilities

1,092.0

622.6

Accrued employee compensation

244.5

241.3

Short-term debt

584.4

63.2

Total current liabilities

2,386.7

1,388.6

Long-term debt

3,907.7

4,484.8

Other non-current liabilities

590.5

533.1

Total liabilities

6,884.9

6,406.5

Stockholders' equity:

Common stock

1.7

1.7

Additional paid-in capital

14,512.0

14,209.0

Retained earnings

1,123.5

1,491.4

Total stockholders' equity

15,637.2

15,702.1

Total liabilities and stockholders' equity

$        22,522.1

$        22,108.6