Marvell Technology, Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(In millions)

July 29,
2023

January 28,
2023

Assets

Current assets:

Cash and cash equivalents

$              423.4

$              911.0

Accounts receivable, net

1,209.2

1,192.2

Inventories

1,015.8

1,068.3

Prepaid expenses and other current assets

118.8

109.6

Total current assets

2,767.2

3,281.1

Property and equipment, net

693.8

577.4

Goodwill

11,586.9

11,586.9

Acquired intangible assets, net

4,560.2

5,102.0

Deferred tax assets

700.9

465.9

Other non-current assets

1,441.1

1,508.8

Total assets

$         21,750.1

$         22,522.1

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$              412.8

$              465.8

Accrued liabilities

1,068.5

1,092.0

Accrued employee compensation

185.3

244.5

Short-term debt

1,018.6

584.4

Total current liabilities

2,685.2

2,386.7

Long-term debt

3,134.5

3,907.7

Other non-current liabilities

540.9

590.5

Total liabilities

6,360.6

6,884.9

Stockholders' equity:

Common stock

1.7

1.7

Additional paid-in capital

14,744.8

14,512.0

Accumulated other comprehensive loss

(1.0)

—

Retained earnings

644.0

1,123.5

Total stockholders' equity

15,389.5

15,637.2

Total liabilities and stockholders' equity

$         21,750.1

$         22,522.1