GlobalFoundries Reports Third Quarter 2024 Financial Results

(1) Beginning in Q3 2023, selling, general and administrative includes (gain)/loss on tool sales and certain contract cancellation fees. Prior period amounts have not been adjusted, as they are immaterial.

 
Condensed Consolidated Statements of Financial Position
(Unaudited, in millions)
 
   September 30, 2024  December 31, 2023
     
Assets:    
Cash and cash equivalents $2,286  $2,387 
Marketable securities  1,187   1,033 
Receivables, prepayments and other  1,323   1,420 
Inventories  1,802   1,487 
Current assets  $ 6,598   $ 6,327 
Deferred tax assets $197  $241 
Property, plant and equipment, net  8,950   9,829 
Right of use assets  492   335  
Marketable securities     860       468  
Other assets     1,008       844  
Non-current assets   $ 11,507     $ 11,717  
Total assets   $ 18,105     $ 18,044  
Liabilities and equity:        
Current portion of long-term debt   $ 541     $ 571  
Other current liabilities     2,182       2,528  
Current liabilities   $ 2,723     $ 3,099  
Non-current portion of long-term debt   $ 1,772     $ 1,801  
Non-current portion of lease obligations     443       350  
Other liabilities     1,585       1,643  
Non-current liabilities   $ 3,800     $ 3,794  
Total liabilities   $ 6,523     $ 6,893  
Shareholders' equity:        
Common stock / additional paid-in capital   $ 23,982     $ 24,038  
Accumulated deficit     (12,536 )     (13,001 )
Accumulated other comprehensive income     87       67  
Non-controlling interest     49       47  
Total liabilities and equity   $ 18,105     $ 18,044  



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