10-Q Filing

TRIMBLE INC. CIK: 864749 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000864749-23-000077`
Period End Date	20230331
Filing Date	20230503
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	trmb-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 44 Cash Flow Statement 62 Stockholders Equity 10 Comprehensive Income 8

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value per share (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value per share (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$271.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.04B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$643.30M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$578.80M	USD	Point-in-time
Common stock, par value per share (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value per share (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$402.50M	USD	Point-in-time
Inventories	`InventoryNet`	$409.40M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$212.60M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	360.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$201.40M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	360.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	247.40M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.52B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.24B	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	246.90M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$215.10M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	247.40M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	246.90M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$219.00M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$121.20M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$113.20M	USD	Point-in-time
Goodwill	`Goodwill`	$4.14B	USD	Point-in-time
Goodwill	`Goodwill`	$4.18B	USD	Point-in-time
Other purchased intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$498.10M	USD	Point-in-time
Other purchased intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$484.30M	USD	Point-in-time
Deferred income tax assets	`DeferredIncomeTaxAssetsNet`	$432.40M	USD	Point-in-time
Deferred income tax assets	`DeferredIncomeTaxAssetsNet`	$438.40M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$352.40M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$336.20M	USD	Point-in-time
Total assets	`Assets`	$8.01B	USD	Point-in-time
Total assets	`Assets`	$7.27B	USD	Point-in-time
Short-term debt	`LongTermDebtCurrent`	$300.00M	USD	Point-in-time
Short-term debt	`LongTermDebtCurrent`	$300.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$166.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$175.50M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$130.80M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$159.40M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$659.30M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$639.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$188.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$224.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.46B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.48B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.79B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.22B	USD	Point-in-time
Deferred revenue, non-current	`ContractWithCustomerLiabilityNoncurrent`	$98.50M	USD	Point-in-time
Deferred revenue, non-current	`ContractWithCustomerLiabilityNoncurrent`	$101.50M	USD	Point-in-time
Deferred income tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$157.80M	USD	Point-in-time
Deferred income tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$119.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$40.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$40.90M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$99.60M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$105.10M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$138.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$134.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.22B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.77B	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 3.0 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 3.0 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 360.0 shares authorized; 247.4 and 246.9 shares issued and outstanding at the end of the first quarter of 2023 and year end 2022	`CommonStockValue`	$200.00K	USD	Point-in-time
Common stock, $0.001 par value; 360.0 shares authorized; 247.4 and 246.9 shares issued and outstanding at the end of the first quarter of 2023 and year end 2022	`CommonStockValue`	$200.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$2.05B	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$2.11B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.23B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.36B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-218.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-234.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.25B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$4.05B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$7.27B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$8.01B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$993.70M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$915.40M	USD	1 Quarter
Amortization of purchased intangible assets	`CostOfGoodsAndServicesSoldAmortization`	$22.50M	USD	1 Quarter
Amortization of purchased intangible assets	`CostOfGoodsAndServicesSoldAmortization`	$23.00M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$354.60M	USD	1 Quarter
Total cost of sales	`CostOfGoodsAndServicesSold`	$444.10M	USD	1 Quarter
Gross margin	`GrossProfit`	$549.60M	USD	1 Quarter
Gross margin	`GrossProfit`	$560.80M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$140.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$159.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$135.40M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$131.90M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$110.70M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$101.50M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$6.90M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$6.70M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$12.10M	USD	1 Quarter
Amortization of purchased intangible assets	`AmortizationOfIntangibleAssets`	$11.70M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$423.80M	USD	1 Quarter
Total operating expense	`OperatingExpenses`	$392.70M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$156.90M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$137.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-16.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-19.70M	USD	1 Quarter
Income from equity method investments, net	`IncomeLossFromEquityMethodInvestments`	$9.70M	USD	1 Quarter
Income from equity method investments, net	`IncomeLossFromEquityMethodInvestments`	$11.40M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-12.10M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$31.90M	USD	1 Quarter
Total non-operating income (expense), net	`NonoperatingIncomeExpense`	$-18.40M	USD	1 Quarter
Total non-operating income (expense), net	`NonoperatingIncomeExpense`	$23.60M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$138.50M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$160.60M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$28.20M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$31.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$128.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$110.30M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.44	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.52	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.44	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.52	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	247.20M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	250.80M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	248.70M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	252.80M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$128.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$110.30M	USD	1 Quarter
Depreciation expense	`Depreciation`	$10.00M	USD	1 Quarter
Depreciation expense	`Depreciation`	$9.80M	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$34.70M	USD	1 Quarter
Amortization expense	`AdjustmentForAmortization`	$34.60M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-16.80M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-33.80M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$33.50M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$28.30M	USD	1 Quarter
Change in fair value of derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$26.90M	USD	1 Quarter
Change in fair value of derivatives	`GainLossOnDerivativeInstrumentsNetPretax`	$100.00K	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-16.80M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$900.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-62.10M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$34.60M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$11.10M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$42.70M	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.20M	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherOperatingAssets`	$14.60M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$7.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.10M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-75.60M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-26.50M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$19.50M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$73.30M	USD	1 Quarter
Other current and non-current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$56.30M	USD	1 Quarter
Other current and non-current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$34.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$153.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$208.70M	USD	1 Quarter
Acquisitions of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$33.30M	USD	1 Quarter
Acquisitions of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.40M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$14.50M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.10M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-12.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.40M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-27.70M	USD	1 Quarter
Issuance of common stock, net of tax withholdings	`ProceedsFromIssuanceOfCommonStock`	$14.00M	USD	1 Quarter
Issuance of common stock, net of tax withholdings	`ProceedsFromIssuanceOfCommonStock`	$-2.40M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$104.70M	USD	1 Quarter
Proceeds from debt and revolving credit lines	`ProceedsFromLongTermLinesOfCredit`	$118.80M	USD	1 Quarter
Proceeds from debt and revolving credit lines	`ProceedsFromLongTermLinesOfCredit`	$1.10B	USD	1 Quarter
Payments on debt and revolving credit lines	`RepaymentsOfLongTermDebt`	$523.40M	USD	1 Quarter
Payments on debt and revolving credit lines	`RepaymentsOfLongTermDebt`	$118.80M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.60M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.30M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-109.70M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$583.40M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.60M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.70M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$31.50M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$767.10M	USD	1 Quarter
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$271.00M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$357.20M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$325.70M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.04B	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$271.00M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$357.20M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$325.70M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.04B	USD	Point-in-time

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Beginning balance (in shares)	`CommonStockSharesOutstanding`	247.40M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	246.90M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$4.25B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$4.05B	USD	Point-in-time
Net income	`NetIncomeLoss`	$128.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$110.30M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	247.40M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	246.90M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$4.25B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$4.05B	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$128.80M	USD	1 Quarter
Net income	`NetIncomeLoss`	$110.30M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.20M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$19.70M	USD	1 Quarter
Net change related to derivatives and other, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeAndDefinedBenefitPlanGainLossAfterReclassificationAndTax`	$3.20M	USD	1 Quarter
Net change related to derivatives and other, net of tax	`OtherComprehensiveIncomeLossCashFlowHedgeAndDefinedBenefitPlanGainLossAfterReclassificationAndTax`	-	USD	1 Quarter
Comprehensive (loss) income attributable to Trimble Inc.	`ComprehensiveIncomeNetOfTax`	$145.30M	USD	1 Quarter
Comprehensive (loss) income attributable to Trimble Inc.	`ComprehensiveIncomeNetOfTax`	$108.10M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.