GARMIN LTD company info

CIK 1121788
IRS Number 980229227
State of incorporation V8
Business address MUHLENTALSTRASSE 2
None
SCHAFFHAUSEN
V8
CH-8200
Mail address MUHLENTALSTRASSE 2
None
SCHAFFHAUSEN
V8
CH-8200

Short summary

GARMIN LTD is a Switzerland company, with head office located at Muhlentalstrasse 2 Schaffhausen, Switzerland CH-8200. The company achieved a record breaking net income in 2009 - 703.95 million USD. In 2018 the company owned a total of 5.38 billion USD worth of assets, including 2.67 billion USD worth of current assets. The company amassed the most assets last year, totalling up to 5.38 billion USD.

GARMIN LTD Income Statement

Name [in Millions USD]2006200720082009201020112012201320142015201620172018Trends
Revenue, Net 3,180.323,494.082,946.442,689.912,758.572,715.682,631.852,870.662,820.273,018.673,087.00
Cost of Goods and Services Sold 1,717.061,940.561,502.331,343.541,224.551,266.251,281.571,339.101,303.841,367.73
Gross Profit 1,463.261,553.521,444.111,346.371,338.591,438.481,407.301,604.411,538.701,679.571,797.941,979.72
Selling, General and Administrative Expense 189.55277.21264.20287.82341.22369.79355.44372.03394.91410.56437.98478.18
Research and development 159.41206.11238.38277.26298.58325.77364.92395.12427.04467.96511.63567.81
Operating Expenses 555.90691.50658.10709.70784.83834.32833.27913.79989.121,055.661,114.301,201.38
Operating Income (Loss) 907.35862.02786.01636.68553.77604.16574.03690.63549.58632.86683.64778.34
Interest expense 0.210.6101.25
Other Nonoperating Income (Expense) 5.165.249.685.288.721.83
Income Tax Expense (Benefit) 123.26181.52104.70-7.3363.2782.1341.15359.53110.96118.86-11.94129.17
Net income 703.95584.60520.90542.40612.41364.21456.23510.81694.96694.08

GARMIN LTD Balance Sheet

Name [in Millions USD]2006200720082009201020112012201320142015201620172018Trends
Cash and cash equivalents 337.32624.48958.911,173.171,418.871,267.721,083.491,234.89938.18801.46859.56946.661,201.73
Available-for-sale Securities, Current 167.99252.25248.90173.32182.99
Accounts Receivable, Net, Current 519.43499.32493.06486.40484.25496.98502.03510.31514.94533.08569.83
Inventories 323.16358.58385.68384.21383.49429.67458.45508.16525.17501.49561.84
Deferred income taxes 59.3357.0727.6947.2663.2467.5053.86
Property, Plant and Equipment, Gross 593.40640.31677.71711.37759.74796.28859.60908.65979.861,162.161,273.49
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment 148.15198.97249.90294.26349.99381.43428.71462.56496.98566.47609.97
Goodwill 129.07136.55179.48176.06179.29178.64187.79224.55286.98301.02
Available-for-sale Securities, Noncurrent 1,407.341,306.161,200.431,302.451,330.12
Other Assets, Noncurrent 21.8588.7288.2297.01100.26
Total assets 3,144.373,431.364,198.464,462.764,599.184,741.804,423.414,527.584,748.774,988.725,382.86
Current assets 1,944.802,159.522,462.532,381.212,346.262,496.572,283.302,212.592,304.932,323.582,665.37
Accounts payable 137.36150.52125.68138.58128.08132.58146.09151.90161.40166.50204.99
Taxes Payable, Current 182.2624.7110.9640.0251.64
Total current liabilities 429.54436.44916.09901.95889.74969.25961.681,010.43928.51929.15921.31
Deferred Revenue, Noncurrent 057.60146.97178.39167.27141.13124.63130.34145.5884.1677.63
Deferred income taxes 14.518.5213.185.011.221.7341.6354.6356.6974.0992.94
Common Stock, Value, Issued 10.991,797.441,797.441,797.441,797.441,797.441,797.4417.9817.9817.98
Retained Earnings (Accumulated Deficit) 2,472.912,648.591,097.971,336.461,514.151,796.561,676.601,794.792,083.082,336.612,710.62
Accumulated Other Comprehensive Income (Loss), Net of Tax -35.022.04129.6895.1864.8473.2924.08-1.4040.159.738.43

GARMIN LTD Cash Flow

Name [in Millions USD]2006200720082009201020112012201320142015201620172018Trends
Net income 703.95584.60520.90542.40612.41364.21456.23510.81694.96694.08
Depreciation 35.5246.9156.7053.4954.6152.6348.4848.4351.3155.8059.9064.80
Amortization of Intangible Assets 28.7324.8321.4417.858.367.1214.3220.8621.80
Deferred Income Tax Expense (Benefit) -23.344.31-47.49-31.8913.3885.43-3.261.01-91.1735.74
Accounts receivable -477.11-206.10131.98-129.70-170.16-10.81-38.5927.40-22.47-940.09-5.17
Inventories -224.1883.0461.1977.126.39-4.0017.5976.49121.722.4638.5882.32
Accounts payable 174.78-236.2938.88-81.35-26.33-38.9318.048.9836.08-11.50-17.2440.63
Deferred revenue 00.6865.71131.30179.4467.93-16.15-87.54-43.34-6.3615.33
Net Cash Provided by (Used in) Operating Activities 682.09862.161,094.46770.64822.33684.75280.47705.68660.84919.52
Payments to Acquire Property, Plant, and Equipment 49.2032.2338.3738.4556.0873.3480.5990.96139.70155.76
Payments to Acquire Businesses, Net of Cash Acquired 128.7560.13012.1254.197.705.6818.8738.6977.9590.4729.17
Payments to Acquire Intangible Assets 2.926.977.573.886.936.781.124.723.895.7212.234.60
Net Cash Provided by (Used in) Investing Activities -175.70-56.35-547.87-72.87-488.20-496.23-111.98-121.68-194.38-307.50
Net Cash Provided by (Used in) Investing Activities, Continuing Operations -488.20-496.23-274.44131.33-111.98-121.54
Payments for Repurchase of Common Stock 7.78671.8520.26225.9322.3018.7558.42241.58131.4193.2374.52
Net Cash Provided by (Used in) Financing Activities -136.12-808.05-161.24-510.82-307.41-249.85-500.09-561.68-448.41-286.16
Cash and Cash Equivalents, Period Increase (Decrease) 370.37-11.35395.25169.3626.22-55.98-52.0317.12-363.2013.8144.61310.05