Stock Analysis on Net

First Solar Inc. (NASDAQ:FSLR)

This company has been moved to the archive! The financial data has not been updated since April 27, 2023.

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

First Solar Inc., consolidated balance sheet: assets

US$ in thousands

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 1,481,269 1,450,654 1,227,002 1,352,741 1,403,562
Marketable securities 1,096,712 375,389 520,066 811,506 1,143,704
Accounts receivable trade, net 324,337 429,436 266,086 475,039 128,282
Accounts receivable unbilled, net 30,654 25,273 26,370 183,473 458,166
Inventories 621,376 666,299 567,587 443,513 387,912
Project assets 3,524 37,930
Assets held for sale 155,685
Spare maintenance materials and parts 114,428 112,070 98,855
Operating supplies 47,492 41,034 35,679
Prepaid expenses 43,262 28,232 26,000 137,927 90,981
Prepaid income taxes 8,314 41,379 71,051 47,811 59,319
Restricted cash 3,175 1,532 1,745 13,697 19,671
Derivative instruments 2,018 5,816 3,315 1,199 2,364
Notes receivable, net 23,873 5,196
Other 18,384 14,129 15,094 105,531 122,436
Other current assets 237,073 244,192 251,739 330,038 299,967
Current assets 3,791,421 3,191,243 3,014,535 3,599,834 3,859,523
Property, plant and equipment, net 3,536,902 2,649,587 2,402,285 2,181,149 1,756,211
PV solar power systems, net 6,242 217,293 243,396 476,977 308,640
Project assets 30,108 315,488 373,377 333,596 460,499
Deferred tax assets, net 78,680 59,162 104,099 130,771 77,682
Restricted marketable securities 182,070 244,726 265,280 223,785 179,000
Goodwill 14,462 14,462 14,462 14,462 14,462
Intangible assets, net 31,106 45,509 56,138 64,543 74,162
Inventories 260,395 237,512 201,229 160,646 130,083
Notes receivable, affiliate 22,832
Operating lease assets 93,185 207,544 226,664 145,711
Advanced payments for raw materials 91,260 86,962 97,883 59,806
Income tax receivables 56,993 39,862 36 4,106 4,444
Accounts receivable unbilled, net 11,498 20,840 22,722
Restricted cash equivalents 6,284
Restricted cash 2,734 3,651 44,847 80,072 139,390
Accounts receivable trade, net 1,500 21,293
Indirect tax receivables 123 21,873 14,849 9,446 22,487
Deferred rent 27,249
Other 56,265 36,739 27,129 30,785 44,698
Other assets 319,842 438,764 434,130 329,926 238,268
Noncurrent assets 4,459,807 4,222,503 4,094,396 3,915,855 3,261,839
Total assets 8,251,228 7,413,746 7,108,931 7,515,689 7,121,362

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).


Assets: Selected Items

Balance sheet item Description The company
Current assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. First Solar Inc. current assets increased from 2020 to 2021 and from 2021 to 2022.
Property, plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. First Solar Inc. property, plant and equipment, net increased from 2020 to 2021 and from 2021 to 2022.
Noncurrent assets Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. First Solar Inc. noncurrent assets increased from 2020 to 2021 and from 2021 to 2022.
Total assets Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. First Solar Inc. total assets increased from 2020 to 2021 and from 2021 to 2022.

Current Assets: Selected Items

Balance sheet item Description The company
Cash and cash equivalents Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. First Solar Inc. cash and cash equivalents increased from 2020 to 2021 and from 2021 to 2022.
Marketable securities Amount of investment in marketable security, classified as current. First Solar Inc. marketable securities decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Accounts receivable trade, net Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. First Solar Inc. accounts receivable trade, net increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Inventories Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. First Solar Inc. inventories increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.