XML 16 R3.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 1,319.1 $ 1,061.8
Short-term investments 1,194.0 775.5
Marketable equity securities 38.6 0.0
Accounts receivable—Net of allowance for credit losses of $2.4 million and $2.5 million at December 31, 2021 and 2020, respectively 807.7 720.0
Inventory 175.8 139.8
Prepaid expenses and other current assets 65.4 43.3
Total current assets 3,600.6 2,740.4
LONG-TERM INVESTMENTS 440.8 118.3
PROPERTY AND EQUIPMENT—NET 687.6 448.0
DEFERRED CONTRACT COSTS 423.3 304.8
DEFERRED TAX ASSETS 342.3 245.2
GOODWILL 125.1 93.0
OTHER INTANGIBLE ASSETS—NET 63.6 31.6
OTHER ASSETS 235.8 63.2
TOTAL ASSETS 5,919.1 4,044.5
CURRENT LIABILITIES:    
Accounts payable 148.4 141.6
Accrued liabilities 197.3 149.2
Accrued payroll and compensation 195.0 145.9
Deferred revenue 1,777.4 1,392.8
Total current liabilities 2,318.1 1,829.5
DEFERRED REVENUE 1,675.5 1,212.5
INCOME TAX LIABILITIES 79.5 90.3
LONG-TERM DEBT 988.4 0.0
OTHER LIABILITIES 59.2 56.2
Total liabilities 5,120.7 3,188.5
COMMITMENTS AND CONTINGENCIES (Note 13)
EQUITY:    
Common stock, $0.001 par value—300.0 shares authorized; 162.0 shares and 162.5 shares issued and outstanding at December 31, 2021 and 2020, respectively 0.2 0.2
Additional paid-in capital 1,254.2 1,207.2
Accumulated other comprehensive income (loss) (4.8) 0.7
Accumulated deficit (467.9) (352.1)
Total Fortinet, Inc. stockholders’ equity 781.7 856.0
Non-controlling interests 16.7 0.0
Total equity 798.4 856.0
TOTAL LIABILITIES AND EQUITY $ 5,919.1 $ 4,044.5