Trimble Reports First Quarter 2018 Results

 

NEW ACCOUNTING STANDARDS ADOPTION IMPACT

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions)

(Unaudited)



































As Reported


ASC 606 Adjustments 


As Adjusted





Fiscal Year End


Fiscal Year End


Fiscal Year End


Fiscal Year End


Fiscal Year End


Fiscal Year End

As of


2017


2016


2017


2016


2017


2016

Assets




























Current assets:














Cash and cash equivalents


$            358.5


$            216.1


$               —


$               —


$            358.5


$            216.1


Short term investments


178.9


111.1




178.9


111.1


Accounts receivable, net


414.8


354.8


12.9


11.4


427.7


366.2


Other receivables


42.8


35.4




42.8


35.4


Inventories


271.8


218.8


(7.2)


(5.5)


264.6


213.3


Other current assets


50.3


42.5


(11.1)


(2.7)


39.2


39.8



Total current assets


1,317.1


978.7


(5.4)


3.2


1,311.7


981.9
















Property and equipment, net


174.0


144.2




174.0


144.2

Goodwill


2,287.1


2,077.6




2,287.1


2,077.6

Other purchased intangible assets, net


364.8


333.3




364.8


333.3

Deferred costs, non-current




35.0


30.3


35.0


30.3

Other non-current assets


155.2


140.0


(11.5)


(15.1)


143.7


124.9


















Total assets


$         4,298.2


$         3,673.8


$              18.1


$              18.4


$         4,316.3


$         3,692.2
















Liabilities and Stockholders' Equity




























Current liabilities:














Short-term debt


$            128.4


$            130.3


$               —


$               —


$            128.4


$            130.3


Accounts payable


146.1


109.8


(0.1)


0.1


146.0


109.9


Accrued compensation and benefits


143.0


97.5


0.9


0.6


143.9


98.1


Deferred revenue


272.4


246.5


(34.8)


(34.7)


237.6


211.8


Accrued warranty expense


18.3


17.2




18.3


17.2


Other current liabilities


101.0


86.9


(1.8)


(4.0)


99.2


82.9



Total current liabilities


809.2


688.2


(35.8)


(38.0)


773.4


650.2
















Long-term debt


785.5


489.6




785.5


489.6

Non-current deferred revenue


41.0


37.7


(2.0)


(3.1)


39.0


34.6

Deferred income tax liabilities


40.4


38.8


7.4


10.0


47.8


48.8

Income taxes payable


94.1





94.1


Other non-current liabilities


162.0


113.8




162.0


113.8



Total liabilities


1,932.2


1,368.1


(30.4)


(31.1)


1,901.8


1,337.0































Stockholders' equity:














Common stock


0.2


0.3




0.2


0.3


Additional paid-in capital


1,461.1


1,348.3




1,461.1


1,348.3


Retained earnings


1,035.9


1,177.1


48.7


51.4


1,084.6


1,228.5


Accumulated other comprehensive loss


(131.2)


(219.9)


(0.2)


(1.9)


(131.4)


(221.8)

Total Trimble Inc. stockholders' equity


2,366.0


2,305.8


48.5


49.5


2,414.5


2,355.3

Noncontrolling interests



(0.1)





(0.1)



Total stockholders' equity


2,366.0


2,305.7


48.5


49.5


2,414.5


2,355.2


















Total liabilities and stockholders' equity


$         4,298.2


$         3,673.8


$              18.1


$              18.4


$         4,316.3


$         3,692.2


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