Fortinet Inc
For the period ended Dec 31, 2023. Filed Feb 26, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 26, 2024
FTNT$123.57+0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, 202 and
(in millions, except per share amounts)
| December 31,2023 | December 31,2022 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $1,397.9 | $1,682.9 |
| Short-term investments | 1,021.5 | 502.6 |
| Marketable equity securities | 21.0 | 25.5 |
| Accounts receivable—Net of allowance for credit losses of $8.2 million and $3.6 million at December 31, 2023 and 2022, respectively | 1,402.0 | 1,261.7 |
| Inventory | 484.8 | 264.6 |
| Prepaid expenses and other current assets | 101.1 | 73.1 |
| Total current assets | 4,428.3 | 3,810.4 |
| LONG-TERM INVESTMENTS | — | 45.5 |
| PROPERTY AND EQUIPMENT—NET | 1,044.4 | 898.5 |
| DEFERRED CONTRACT COSTS | 605.6 | 518.2 |
| DEFERRED TAX ASSETS | 868.8 | 569.4 |
| GOODWILL | 126.5 | 128.0 |
| OTHER INTANGIBLE ASSETS—NET | 35.3 | 56.0 |
| OTHER ASSETS | 150.0 | 202.0 |
| TOTAL ASSETS | $7,258.9 | $6,228.0 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $204.3 | $243.4 |
| Accrued liabilities | 423.7 | 266.3 |
| Accrued payroll and compensation | 242.3 | 219.4 |
| Deferred revenue | 2,848.7 | 2,349.3 |
| Total current liabilities | 3,719.0 | 3,078.4 |
| DEFERRED REVENUE | 2,886.3 | 2,291.0 |
| LONG-TERM DEBT | 992.3 | 990.4 |
| OTHER LIABILITIES | 124.7 | 149.8 |
| Total liabilities | 7,722.3 | 6,509.6 |
| COMMITMENTS AND CONTINGENCIES (Note 12) | ||
| STOCKHOLDERS’ DEFICIT: | ||
| Common stock, $0.001 par value—1,500.0 shares authorized; 761.0 shares and 781.5 shares issued and outstanding at December 31, 2023 and 2022, respectively | 0.8 | 0.8 |
| Additional paid-in capital | 1,416.4 | 1,284.2 |
| Accumulated other comprehensive loss | (18.9) | (20.2) |
| Accumulated deficit | (1,861.7) | (1,546.4) |
| Total stockholders’ deficit | (463.4) | (281.6) |
| TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT | $7,258.9 | $6,228.0 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.