← GARMIN LTD
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $510.8m | $695.0m | $694.1m | $952.5m | $992.3m | $1.1b | $973.6m | $1.3b | $1.4b | $1.7b | |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | $952.5m | $992.3m | $1.1b | $973.6m | $1.3b | $1.4b | $1.7b | |
| Amortization | $30.5m | $26.4m | $31.4m | $34.3m | $48.6m | $51.3m | $45.1m | $45.2m | $39.2m | $36.1m | |
| Amortization of Intangible Assets | $14.3m | $20.9m | $21.8m | $26.2m | $34.8m | $35.5m | $30.6m | $30.5m | $30.7m | $32.4m | |
| Depreciation | $55.8m | $59.9m | $64.8m | $71.9m | $78.1m | $103.5m | $118.7m | $132.3m | $140.5m | $152.6m | |
| Deferred Income Tax Expense (Benefit) | $1.0m | ($91.9m) | $35.7m | ($88.3m) | $6.6m | ($5.4m) | ($142.5m) | ($339.7m) | ($89.6m) | $82.5m | |
| Share-based Payment Arrangement, Noncash Expense | $41.2m | $44.7m | $56.4m | $63.4m | $80.9m | $92.5m | $76.8m | $101.4m | $137.2m | $166.0m | |
| Goodwill and Intangible Asset Impairment | — | — | — | — | — | — | — | — | $0 | $0 | |
| Gain (Loss) on Disposition of Property Plant Equipment | $503k | $230k | $479k | $233k | $1.8m | ($298k) | $2.1m | ($215k) | $4.9m | ($881k) | |
| Income Tax Expense (Benefit) | $118.9m | ($12.7m) | $129.2m | $34.7m | $111.1m | $124.6m | $91.4m | ($89.3m) | $284.0m | $350.6m | |
| Other Nonoperating Income (Expense) | — | — | — | $5.6m | $9.3m | $4.9m | $7.6m | $4.5m | $8.5m | $1.7m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($9.0m) | $40.1m | ($5.2m) | $123.4m | $108.9m | $19.1m | ($167.3m) | $129.1m | $196.3m | $222.8m | |
| Increase (Decrease) in Inventories | $2.5m | $38.6m | $82.3m | $170.2m | ($28.7m) | $476.5m | $363.3m | ($244.5m) | $178.8m | $218.1m | |
| Increase (Decrease) in Accounts Payable | ($11.5m) | ($17.2m) | $40.6m | $26.2m | $1.4m | $108.9m | ($131.3m) | $28.5m | $120.6m | ($30.5m) | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($31.7m) | ($22.6m) | ($7.6m) | ($16.8m) | $2.8m | ($45.3m) | ($11.3m) | $26.4m | ($20.6m) | $7.8m | |
| Foreign Currency Transaction Gain (Loss), Unrealized | ($13.4m) | ($21.0m) | ($13.8m) | ($18.7m) | $9.9m | ($36.4m) | $5.9m | $25.5m | ($26.9m) | $36.2m | |
| Goodwill | $224.6m | $287.0m | $301.0m | $467.1m | $584.2m | $575.1m | $568.0m | $608.5m | $603.9m | $760.2m | |
| Inventory Write-down | $26.5m | $31.1m | $24.6m | — | — | — | — | — | — | — | |
| Investment Income, Interest | $33.4m | $36.9m | $47.1m | — | — | — | — | — | — | — | |
| Marketable Securities, Unrealized Gain (Loss) | ($27.4m) | ($22.9m) | $38.9m | $585k | $20.5m | ($5.6m) | ($88.6m) | ($54.1m) | $30.4m | $1.5m | |
| Nonoperating Income (Expense) | $5.8m | $13.4m | $44.9m | $41.6m | $49.2m | ($11.8m) | $37.1m | $108.2m | $101.4m | $138.5m | |
| Operating Expenses | $1.1b | $1.1b | $1.2b | $1.3b | $1.4b | $1.7b | $1.8b | $1.9b | $2.1b | $2.4b | |
| Revenue from Contract with Customer, Including Assessed Tax | — | — | $3.3b | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $705.7m | $660.8m | $919.5m | $698.5m | $1.1b | $1.0b | $788.3m | $1.4b | $1.4b | $1.6b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $91.0m | $139.7m | $155.8m | $118.0m | $185.4m | $307.6m | $244.3m | $193.5m | $193.6m | $270.4m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $77.9m | $90.5m | $29.2m | $300.3m | $148.6m | $20.2m | $13.5m | $150.9m | — | — | |
| Gain (Loss) on Sale of Investments | $822k | ($991k) | ($827k) | $799k | $1.4m | $622k | ($986k) | ($62k) | ($8k) | ($899k) | |
| Net Cash Provided by (Used in) Investing Activities | ($121.5m) | ($194.5m) | ($307.5m) | ($450.7m) | ($260.5m) | ($475.4m) | ($145.1m) | ($333.0m) | ($393.3m) | ($645.2m) | |
| Cash flows from financing activities: | |||||||||||
| Payments for Repurchase of Common Stock | $93.2m | $74.5m | — | — | — | — | — | — | — | — | |
| Dividends paid | $481.5m | $383.0m | $296.1m | $417.3m | $450.6m | $491.5m | $679.1m | $558.8m | $572.4m | $663.9m | |
| Dividends Payable, Current | $96.2m | $96.0m | $200.5m | $217.3m | $233.6m | $258.0m | $139.7m | $140.0m | $144.3m | $173.4m | |
| Net Cash Provided by (Used in) Financing Activities | ($561.7m) | ($448.4m) | ($286.2m) | ($416.0m) | ($461.8m) | ($486.7m) | ($840.6m) | ($636.5m) | ($626.9m) | ($844.1m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $26.7m | ($15.8m) | ($174.2m) | $431.1m | $40.1m | ($218.9m) | $414.2m | $386.0m | $199.2m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $13.7m | $44.8m | $1.2b | $1.0b | $1.5b | $1.5b | $1.3b | $1.7b | $2.1b | $2.3b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Income Taxes Paid, Net | $115.5m | $106.1m | $67.6m | $160.3m | $133.1m | $131.0m | $184.8m | $302.2m | $333.8m | $317.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.