Garmin Ltd. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands)

September 28,

2024

December 30,
2023

Assets

Current assets:

Cash and cash equivalents

$

2,009,361

$

1,693,452

Marketable securities

414,701

274,618

Accounts receivable, net

922,034

815,243

Inventories

1,505,536

1,345,955

Deferred costs

23,385

16,316

Prepaid expenses and other current assets

334,488

318,556

Total current assets

5,209,505

4,464,140

Property and equipment, net

1,220,113

1,224,097

Operating lease right-of-use assets

137,665

143,724

Noncurrent marketable securities

1,106,532

1,125,191

Deferred income tax assets

787,849

754,635

Noncurrent deferred costs

7,994

11,057

Goodwill

611,884

608,474

Other intangible assets, net

168,230

186,601

Other noncurrent assets

97,960

85,650

Total assets

$

9,347,732

$

8,603,569

Liabilities and Stockholders '  Equity

Current liabilities:

Accounts payable

$

374,025

$

253,790

Salaries and benefits payable

218,941

190,014

Accrued warranty costs

57,983

55,738

Accrued sales program costs

75,802

98,610

Other accrued expenses

222,925

245,874

Deferred revenue

113,049

101,189

Income taxes payable

227,735

225,475

Dividend payable

288,204

139,997

Total current liabilities

1,578,664

1,310,687

Deferred income tax liabilities

104,996

114,682

Noncurrent income taxes payable

16,864

16,521

Noncurrent deferred revenue

30,227

36,148

Noncurrent operating lease liabilities

109,832

113,035

Other noncurrent liabilities

602

436

Stockholders' equity:

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

    192,136 and 191,777 shares outstanding)

19,490

19,588

Additional paid-in capital

2,218,170

2,125,467

Treasury shares (2,765 and 4,103 shares)

(243,994)

(330,909)

Retained earnings

5,563,576

5,263,528

Accumulated other comprehensive income (loss)

(50,695)

(65,614)

Total stockholders' equity

7,506,547

7,012,060

Total liabilities and stockholders' equity

$

9,347,732

$

8,603,569