Marvell Technology, Inc.

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands)

May 1,

2021

January 30,

2021

Assets

Current assets:

Cash and cash equivalents

$

522,512

$

748,467

Accounts receivable, net

694,395

536,668

Inventories

538,117

268,228

Prepaid expenses and other current assets

132,787

63,782

Total current assets

1,887,811

1,617,145

Property and equipment, net

424,733

326,125

Goodwill

10,965,666

5,336,961

Acquired intangible assets, net

6,562,061

2,270,700

Deferred tax assets

725,636

672,424

Other non-current assets

664,030

541,569

Total assets

$

21,229,937

$

10,764,924

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$

304,425

$

252,419

Accrued liabilities

478,158

435,616

Accrued employee compensation

153,943

189,421

Short-term convertible debt

193,269

—

Short-term debt

30,308

199,641

Total current liabilities

1,160,103

1,077,097

Long-term convertible debt

1,146

—

Long-term debt

4,673,707

993,170

Other non-current liabilities

539,611

258,853

Total liabilities

6,374,567

2,329,120

Stockholders' equity:

Common shares

1,633

1,350

Additional paid-in capital

12,879,095

6,331,013

Retained earnings

1,974,642

2,103,441

Total stockholders' equity

14,855,370

8,435,804

Total liabilities and stockholders' equity

$

21,229,937

$

10,764,924