Marvell Technology, Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(In millions)

February 3,
2024

January 28,
2023

Assets

Current assets:

Cash and cash equivalents

$              950.8

$              911.0

Accounts receivable, net

1,121.6

1,192.2

Inventories

864.4

1,068.3

Prepaid expenses and other current assets

125.9

109.6

Total current assets

3,062.7

3,281.1

Property and equipment, net

756.0

577.4

Goodwill

11,586.9

11,586.9

Acquired intangible assets, net

4,004.1

5,102.0

Deferred tax assets

311.9

465.9

Other non-current assets

1,506.9

1,508.8

Total assets

$        21,228.5

$        22,522.1

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$              411.3

$              465.8

Accrued liabilities

1,032.9

1,092.0

Accrued employee compensation

262.7

244.5

Short-term debt

107.3

584.4

Total current liabilities

1,814.2

2,386.7

Long-term debt

4,058.6

3,907.7

Other non-current liabilities

524.3

590.5

Total liabilities

6,397.1

6,884.9

Stockholders' equity:

Common stock

1.7

1.7

Additional paid-in capital

14,845.3

14,512.0

Accumulated other comprehensive income

1.1

—

Retained earnings (Accumulated deficit)

(16.7)

1,123.5

Total stockholders' equity

14,831.4

15,637.2

Total liabilities and stockholders' equity

$        21,228.5

$        22,522.1