Stock Analysis on Net
Stock Analysis on Net

Lam Research Corp. (NASDAQ:LRCX)

Balance Sheet: Assets
Quarterly Data

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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.

Lam Research Corp., consolidated balance sheet: assets (quarterly data)

US$ in thousands

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Sep 27, 2020 Jun 28, 2020 Mar 29, 2020 Dec 29, 2019 Sep 29, 2019 Jun 30, 2019 Mar 31, 2019 Dec 23, 2018 Sep 23, 2018 Jun 24, 2018 Mar 25, 2018 Dec 24, 2017 Sep 24, 2017 Jun 25, 2017 Mar 26, 2017 Dec 25, 2016 Sep 25, 2016 Jun 26, 2016 Mar 27, 2016 Dec 27, 2015 Sep 27, 2015 Jun 28, 2015 Mar 29, 2015 Dec 28, 2014 Sep 28, 2014
Cash and cash equivalents 4,129,067  4,915,172  3,961,586  3,035,887  4,607,182  3,658,219  4,931,611  3,359,793  2,568,085  4,512,257  4,698,995  1,745,173  2,406,462  2,377,534  2,128,570  2,503,960  5,861,701  5,039,322  2,232,021  1,967,873  1,744,325  1,501,539  1,635,636  981,275  1,293,678 
Investments 2,528,841  1,795,080  1,431,550  1,647,867  983,650  1,772,984  1,209,315  275,670  1,050,863  437,338  1,785,976  3,954,526  3,775,925  3,663,628  3,755,036  3,329,425  1,352,775  1,788,612  2,306,718  2,507,607  2,587,474  2,574,947  2,313,495  1,902,402  1,593,668 
Accounts receivable, less allowance 2,317,922  2,097,099  2,191,070  2,030,490  1,635,643  1,455,522  1,522,273  1,868,842  1,846,845  2,176,936  2,082,632  2,279,044  1,530,762  1,673,398  1,636,090  1,426,307  1,290,317  1,262,145  1,236,617  1,089,850  1,088,942  1,093,582  1,046,800  944,014  864,403 
Inventories 2,138,050  1,900,024  1,674,740  1,528,620  1,483,385  1,540,140  1,622,242  1,703,307  1,874,194  1,876,162  1,693,128  1,507,435  1,328,297  1,232,916  1,133,196  1,018,891  931,581  971,911  934,932  879,821  916,683  943,346  919,679  913,390  815,612 
Prepaid expenses and other current assets 161,003  146,160  149,839  212,101  124,755  133,544  156,800  148,233  175,886  147,218  165,066  179,944  187,334  195,022  223,056  225,291  162,628  152,921  231,277  225,046  178,557  157,435  145,357  173,731  123,615 
Current assets 11,274,883  10,853,535  9,408,785  8,454,965  8,834,615  8,560,409  9,442,241  7,355,845  7,515,873  9,149,911  10,425,797  9,666,122  9,228,780  9,142,498  8,875,948  8,503,874  9,599,002  9,214,911  6,941,565  6,670,197  6,515,981  6,270,849  6,060,967  4,914,812  4,690,976 
Property and equipment, net 1,133,529  1,071,499  1,048,619  1,047,254  1,030,168  1,059,077  1,040,329  1,013,306  951,376  902,547  826,500  807,340  745,600  685,595  675,707  672,553  649,587  639,608  664,424  643,746  636,769  621,418  579,824  585,372  555,658 
Restricted cash and investments 253,458  253,911  254,155  253,907  254,654  255,177  255,774  255,292  255,924  256,301  256,587  255,984  256,045  256,205  256,157  255,175  255,640  250,421  227,838  207,568  183,455  170,969  164,300  155,455  149,483 
Goodwill 1,484,629  1,484,436  1,484,050  1,484,824  1,484,392  1,484,597  1,484,908  1,484,570  1,484,873  1,484,904  1,485,653  1,485,230  1,484,030  1,385,673  1,385,545  1,385,684  1,385,838  1,386,276  1,386,559  1,387,082  1,387,213  1,387,509  1,466,319  1,466,949  1,467,319 
Intangible assets, net 161,714  168,532  182,682  193,116  206,256  216,950  223,022  251,898  282,689  317,836  340,238  380,929  420,359  410,995  449,605  487,897  526,593  564,921  612,779  652,131  688,951  728,140  776,658  815,057  854,834 
Other assets 748,795  727,134  560,344  480,056  533,417  425,123  448,988  407,547  466,842  367,979  328,724  316,660  263,812  241,799  232,224  215,876  219,702  215,391  191,097  189,697  182,062  185,763  190,473  173,044  175,558 
Long-term assets 3,782,125  3,705,512  3,529,850  3,459,157  3,508,887  3,440,924  3,453,021  3,412,613  3,441,704  3,329,567  3,237,702  3,246,143  3,169,846  2,980,267  2,999,238  3,017,185  3,037,360  3,056,617  3,082,697  3,080,224  3,078,450  3,093,799  3,177,574  3,195,877  3,202,852 
Total assets 15,057,008  14,559,047  12,938,635  11,914,122  12,343,502  12,001,333  12,895,262  10,768,458  10,957,577  12,479,478  13,663,499  12,912,265  12,398,626  12,122,765  11,875,186  11,521,059  12,636,362  12,271,528  10,024,262  9,750,421  9,594,431  9,364,648  9,238,541  8,110,689  7,893,828 

Based on: 10-Q (filing date: 2020-10-27), 10-K (filing date: 2020-08-18), 10-Q (filing date: 2020-04-28), 10-Q (filing date: 2020-02-04), 10-Q (filing date: 2019-10-29), 10-K (filing date: 2019-08-20), 10-Q (filing date: 2019-04-30), 10-Q (filing date: 2019-01-30), 10-Q (filing date: 2018-10-23), 10-K (filing date: 2018-08-14), 10-Q (filing date: 2018-04-24), 10-Q (filing date: 2018-01-30), 10-Q (filing date: 2017-10-23), 10-K (filing date: 2017-08-15), 10-Q (filing date: 2017-04-24), 10-Q (filing date: 2017-01-30), 10-Q (filing date: 2016-10-25), 10-K (filing date: 2016-08-17), 10-Q (filing date: 2016-04-25), 10-Q (filing date: 2016-02-03), 10-Q (filing date: 2015-11-03), 10-K (filing date: 2015-08-13), 10-Q (filing date: 2015-04-30), 10-Q (filing date: 2015-02-03), 10-Q (filing date: 2014-11-03).


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. Lam Research Corp.’s current assets increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Property 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. Lam Research Corp.’s property and equipment, net increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Long-term 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. Lam Research Corp.’s long-term assets increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
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. Lam Research Corp.’s total assets increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

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. Lam Research Corp.’s cash and cash equivalents increased from Q3 2020 to Q4 2020 but then slightly decreased from Q4 2020 to Q1 2021 not reaching Q3 2020 level.
Investments Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Lam Research Corp.’s investments increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Accounts receivable, less allowance 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. Lam Research Corp.’s accounts receivable, less allowance decreased from Q3 2020 to Q4 2020 but then increased from Q4 2020 to Q1 2021 exceeding Q3 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. Lam Research Corp.’s inventories increased from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.