Garmin Ltd. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands)

June 29,

2024

December 30,
2023

Assets

Current assets:

Cash and cash equivalents

$

1,937,483

$

1,693,452

Marketable securities

288,659

274,618

Accounts receivable, net

808,446

815,243

Inventories

1,319,643

1,345,955

Deferred costs

20,946

16,316

Prepaid expenses and other current assets

322,041

318,556

Total current assets

4,697,218

4,464,140

Property and equipment, net

1,206,020

1,224,097

Operating lease right-of-use assets

130,302

143,724

Noncurrent marketable securities

1,192,190

1,125,191

Deferred income tax assets

777,019

754,635

Noncurrent deferred costs

8,921

11,057

Goodwill

599,606

608,474

Other intangible assets, net

168,392

186,601

Other noncurrent assets

103,654

85,650

Total assets

$

8,883,322

$

8,603,569

Liabilities and Stockholders '  Equity

Current liabilities:

Accounts payable

$

331,938

$

253,790

Salaries and benefits payable

172,284

190,014

Accrued warranty costs

58,253

55,738

Accrued sales program costs

90,191

98,610

Other accrued expenses

196,381

245,874

Deferred revenue

105,999

101,189

Income taxes payable

236,708

225,475

Dividend payable

432,569

139,997

Total current liabilities

1,624,323

1,310,687

Deferred income tax liabilities

102,951

114,682

Noncurrent income taxes payable

16,480

16,521

Noncurrent deferred revenue

31,848

36,148

Noncurrent operating lease liabilities

102,167

113,035

Other noncurrent liabilities

571

436

Stockholders' equity:

Common shares (194,901 and 195,880 shares authorized and issued;

    192,251 and 191,777 shares outstanding)

19,490

19,588

Additional paid-in capital

2,183,158

2,125,467

Treasury shares (2,650 and 4,103 shares)

(223,899)

(330,909)

Retained earnings

5,164,227

5,263,528

Accumulated other comprehensive income (loss)

(137,994)

(65,614)

Total stockholders' equity

7,004,982

7,012,060

Total liabilities and stockholders' equity

$

8,883,322

$

8,603,569