CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) (Unaudited)
| |||
At the End of Year | 2023 |
| 2022 |
Assets |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents | $ 229.8 |
| $ 271.0 |
Accounts receivable, net | 706.6 |
| 643.3 |
Inventories | 235.7 |
| 402.5 |
Prepaid expenses | 89.8 |
| 73.7 |
Other current assets | 147.8 |
| 127.7 |
Assets held for sale | 421.2 |
| — |
Total current assets | 1,830.9 |
| 1,518.2 |
Property and equipment, net | 202.5 |
| 219.0 |
Operating lease right-of-use assets | 124.0 |
| 121.2 |
Goodwill | 5,350.6 |
| 4,137.9 |
Other purchased intangible assets, net | 1,243.5 |
| 498.1 |
Deferred income tax assets | 412.3 |
| 438.4 |
Other non-current assets | 375.5 |
| 336.2 |
Total assets | $ 9,539.3 |
| $ 7,269.0 |
Liabilities and Stockholders' Equity |
|
|
|
Current liabilities: |
|
|
|
Short-term debt | $ 530.4 |
| $ 300.0 |
Accounts payable | 165.3 |
| 175.5 |
Accrued compensation and benefits | 181.2 |
| 159.4 |
Deferred revenue | 663.1 |
| 639.1 |
Income taxes payable | 39.7 |
| 23.7 |
Other current liabilities | 201.3 |
| 164.4 |
Liabilities held for sale | 48.3 |
| — |
Total current liabilities | 1,829.3 |
| 1,462.1 |
Long-term debt | 2,536.2 |
| 1,220.0 |
Deferred revenue, non-current | 98.3 |
| 98.5 |
Deferred income tax liabilities | 287.8 |
| 157.8 |
Operating lease liabilities | 121.9 |
| 105.1 |
Other non-current liabilities | 165.7 |
| 175.3 |
Total liabilities | 5,039.2 |
| 3,218.8 |
Stockholders' equity: |
|
|
|
Common stock | 0.2 |
| 0.2 |
Additional paid-in-capital | 2,214.6 |
| 2,054.9 |
Retained earnings | 2,437.4 |
| 2,230.0 |
Accumulated other comprehensive loss | (152.1) |
| (234.9) |
Total stockholders' equity | 4,500.1 |
| 4,050.2 |
Total liabilities and stockholders' equity | $ 9,539.3 |
| $ 7,269.0 |
Trimble Announces Fourth Quarter and Full Year 2023 Results and Initiates 2024 Guidance
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