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Marvell Technology, Inc.
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| USD ($) $ in Millions | Aug 1, 2026 | May 2, 2026 | Nov 1, 2025 | Aug 2, 2025 | May 3, 2025 | Nov 2, 2024 | Aug 3, 2024 | May 4, 2024 | Oct 28, 2023 | Jul 29, 2023 | Apr 29, 2023 | Oct 29, 2022 | Jul 30, 2022 | Apr 30, 2022 | Oct 30, 2021 | Jul 31, 2021 | May 1, 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||||||||
Net income | $ 308.0 | $ 34.5 | $ 1,901.3 | $ 194.8 | $ 177.9 | $ (676.3) | $ (193.3) | $ (215.6) | $ (164.3) | $ (207.5) | $ (168.9) | $ 13.3 | |||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||
Depreciation and amortization | 93.1 | 95.4 | 86.9 | 84.1 | 84.2 | 76.6 | 76.3 | 72.6 | 72.1 | 75.5 | 78.4 | 74.4 | |||||
Stock-based compensation | 326.2 | 207.6 | 152.1 | 153.6 | 142.1 | 158.4 | 154.9 | 136.5 | 158.5 | 152.8 | 143.2 | 146.1 | |||||
Amortization of acquired intangible assets | 214.9 | 225.2 | 229.0 | 243.7 | 245.7 | 264.9 | 275.7 | 264.9 | 269.8 | 271.8 | 270.0 | 269.9 | |||||
Change in fair value of contingent consideration liability | 101.9 | 331.8 | - | - | - | - | - | - | - | - | - | - | |||||
Change in fair value of forward stock purchase contract | (49.9) | (81.1) | - | - | - | - | - | - | - | - | - | - | |||||
Amortization of inventory fair value adjustment associated with acquisitions | - | - | - | - | - | - | - | - | - | - | 0.0 | 10.4 | |||||
Amortization of deferred debt issuance costs and debt discounts | - | - | - | - | - | - | - | - | - | - | - | - | |||||
Restructuring related charges (gains), net | - | 0.0 | - | - | (14.0) | 521.8 | 1.6 | 0.7 | 0.8 | 21.3 | 10.1 | - | |||||
Deferred income taxes | 24.9 | 13.8 | 7.0 | (4.9) | (4.3) | (47.9) | (36.1) | (22.2) | (57.0) | (87.6) | (139.1) | (124.8) | |||||
Gain on sale of business | - | - | (1,830.4) | - | - | - | - | - | - | - | - | - | |||||
Other expense, net | 35.1 | 23.2 | 4.3 | 36.7 | 44.1 | 9.0 | 11.3 | 21.8 | 18.2 | 8.9 | 12.8 | 34.3 | |||||
Changes in assets and liabilities, net of acquisitions: | |||||||||||||||||
Accounts receivable | (346.6) | 314.9 | (94.7) | (307.7) | (115.6) | 62.2 | (178.2) | 239.7 | (5.5) | (208.2) | 191.3 | (101.8) | |||||
Prepaid expenses and other assets | (305.2) | (28.5) | (190.1) | (117.5) | 24.1 | (45.5) | 135.9 | 85.8 | 53.7 | (47.2) | 7.9 | (197.5) | |||||
Inventories | 48.3 | (11.4) | 35.2 | 15.4 | (69.9) | (108.2) | 9.2 | 38.8 | 70.6 | 11.3 | 41.2 | (56.3) | |||||
Accounts payable | 22.3 | (355.9) | (11.0) | (30.7) | (37.4) | 75.0 | 93.1 | (58.3) | (0.7) | 18.0 | (104.8) | (37.8) | |||||
Accrued employee compensation | 44.3 | (84.4) | 22.8 | 26.8 | (117.6) | 71.1 | 33.0 | (92.2) | 59.7 | 1.1 | (60.1) | 60.0 | |||||
Accrued liabilities and other non-current liabilities | 88.2 | (46.3) | 269.9 | 167.3 | (26.4) | 175.2 | (77.0) | (148.0) | 27.1 | 102.3 | (73.6) | 320.8 | |||||
Net cash provided by operating activities | 605.5 | 638.8 | 582.3 | 461.6 | 332.9 | 536.3 | 306.4 | 324.5 | 503.0 | 112.5 | 208.4 | 411.0 | |||||
Cash flows from investing activities: | |||||||||||||||||
Purchases of technology licenses | (4.5) | (0.5) | (1.2) | (1.1) | (1.1) | (0.5) | (5.2) | (0.5) | (0.3) | (0.2) | (2.8) | (4.9) | |||||
Purchases of property and equipment | (126.7) | (155.7) | (73.5) | (47.5) | (118.8) | (75.0) | (48.2) | (91.5) | (54.4) | (111.1) | (99.8) | (42.7) | |||||
Proceeds from sales of property and equipment | - | 0.0 | 0.1 | 1.4 | 25.9 | - | - | - | - | - | - | - | |||||
Acquisitions, net of cash acquired | - | (1,270.9) | - | - | - | - | (10.4) | - | - | (5.5) | (0.0) | (4.4) | |||||
Net proceeds from sale of business | - | - | 2,478.6 | - | - | - | - | - | - | - | - | - | |||||
Other, net | 0.9 | 5.7 | (12.8) | (30.0) | (0.1) | - | 10.8 | (9.9) | 0.1 | (0.2) | (0.1) | 0.1 | |||||
Net cash used in investing activities | (130.3) | (1,421.4) | 2,391.2 | (77.2) | (94.1) | (75.5) | (53.0) | (101.9) | (54.6) | (117.0) | (102.7) | (51.9) | |||||
Cash flows from financing activities: | |||||||||||||||||
Repurchases of common stock | (200.0) | (200.0) | (1,300.0) | (200.0) | (340.0) | (200.0) | (175.0) | (150.0) | (50.0) | - | (0.0) | (50.0) | |||||
Proceeds from employee stock plans | 54.2 | 3.3 | 0.4 | 50.5 | 0.6 | 0.8 | 49.3 | 2.3 | 0.7 | 52.9 | 7.5 | 1.1 | |||||
Proceeds from issuance of preferred stock | - | 2,000.0 | - | - | - | - | - | - | - | - | - | - | |||||
Tax withholding paid on behalf of employees for net share settlement | (138.0) | (227.2) | (62.5) | (50.7) | (50.2) | (58.6) | (57.6) | (74.1) | (44.9) | (51.2) | (72.6) | (29.5) | |||||
Dividend payments to stockholders | (53.9) | (53.8) | (50.8) | (51.7) | (51.8) | (51.9) | (51.9) | (51.8) | (51.8) | (51.7) | (51.4) | (51.1) | |||||
Payments on technology license obligations | (29.4) | (27.2) | (47.7) | (27.5) | (26.8) | (58.9) | (35.3) | (30.2) | (31.6) | (28.6) | (50.0) | (32.4) | |||||
Proceeds from borrowings | - | 998.9 | - | 998.6 | 200.0 | - | - | 0.0 | 1,045.3 | 50.0 | 200.0 | - | |||||
Principal payments of debt | - | (500.0) | - | (757.8) | (32.8) | (32.8) | (21.9) | (21.9) | (1,006.9) | (571.8) | (21.9) | (91.9) | |||||
Other, net | (18.9) | (6.6) | (22.8) | (7.3) | (0.2) | - | - | - | - | - | - | 1.0 | |||||
Payment for repurchases and settlement of convertible notes | - | - | - | - | - | - | - | - | - | - | - | - | |||||
Proceeds from capped calls | - | - | - | - | - | - | - | - | - | - | - | - | |||||
Payment of equity and debt financing costs | - | - | - | - | - | - | - | - | (7.0) | - | - | - | |||||
Net cash provided by (used in) financing activities | (386.0) | 1,987.4 | (1,483.4) | (45.9) | (301.2) | (401.4) | (292.4) | (325.7) | (146.2) | (600.4) | 11.6 | (252.8) | |||||
Net increase in cash and cash equivalents | $ 89.2 | $ 1,204.8 | $ 1,490.1 | $ 338.5 | $ (62.4) | $ 59.4 | $ (39.0) | $ (103.1) | $ 302.2 | $ (604.9) | $ 117.3 | $ 106.3 |