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Switch Quarterly Balance Sheets Table
Quarterly
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Annual
| Unit: USD | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-12-31 | 2017-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| assets | |||||||||||||||||||||
| current assets: | |||||||||||||||||||||
| cash and cash equivalents | 41,251,000 | 31,226,000 | 27,493,000 | 48,325,000 | 35,240,000 | 84,816,000 | 38,882,000 | 90,719,000 | 156,081,000 | 31,730,000 | 64,711,000 | 24,721,000 | 52,478,000 | 60,169,000 | 86,958,000 | 81,560,000 | 104,511,000 | 184,004,000 | 238,561,000 | ||
| restricted cash | 1,890,000 | 1,890,000 | 3,968,000 | 3,968,000 | |||||||||||||||||
| accounts receivable | 30,536,000 | 20,597,000 | 24,774,000 | 18,368,000 | 31,544,000 | 31,897,000 | 21,134,000 | 21,723,000 | 16,480,000 | 16,573,000 | 15,371,000 | 23,365,000 | 18,741,000 | 14,259,000 | 9,994,000 | 17,654,000 | 14,196,000 | 10,670,000 | 18,511,000 | 16,386,000 | 13,725,000 |
| prepaid expenses | 11,122,000 | 8,470,000 | 11,457,000 | 10,265,000 | 8,809,000 | 7,438,000 | 8,685,000 | 8,171,000 | 5,449,000 | 4,082,000 | 6,683,000 | 7,137,000 | 6,962,000 | 4,500,000 | 6,731,000 | 6,781,000 | 3,932,000 | 3,975,000 | 5,162,000 | 5,037,000 | 4,087,000 |
| swap asset, current portion | 9,569,000 | ||||||||||||||||||||
| other current assets, net of allowance for credit losses of 3 | 4,449,000 | 6,539,000 | 4,627,000 | ||||||||||||||||||
| total current assets | 96,927,000 | 66,832,000 | 70,241,000 | 83,472,000 | 82,392,000 | 130,683,000 | 70,826,000 | 122,848,000 | 180,771,000 | 55,575,000 | 91,201,000 | 59,040,000 | 80,609,000 | 81,287,000 | 106,022,000 | 108,327,000 | 125,730,000 | 204,734,000 | 265,913,000 | 288,190,000 | 35,401,000 |
| property and equipment | 2,500,213,000 | 2,386,870,000 | 2,317,408,000 | 2,237,059,000 | 2,138,545,000 | 2,059,944,000 | 1,801,302,000 | 1,737,415,000 | 1,675,229,000 | 1,630,119,000 | 1,583,491,000 | 1,551,117,000 | 1,444,993,000 | 1,346,348,000 | 1,309,514,000 | 1,302,770,000 | 1,281,057,000 | 1,248,939,000 | 1,183,165,000 | 1,133,572,000 | 1,072,823,000 |
| long-term deposit | 39,056,000 | 38,741,000 | 15,222,000 | 13,504,000 | 10,680,000 | 6,652,000 | 2,789,000 | 2,626,000 | 3,754,000 | 3,217,000 | 3,163,000 | 3,429,000 | 5,047,000 | 4,085,000 | 3,333,000 | 3,333,000 | 4,288,000 | 3,842,000 | |||
| deferred income taxes | 375,036,000 | 328,389,000 | 306,753,000 | 295,699,000 | 263,933,000 | 236,079,000 | 227,299,000 | 203,201,000 | 177,669,000 | 174,269,000 | 131,255,000 | 114,372,000 | 90,115,000 | 75,054,000 | 27,625,000 | 28,550,000 | 20,854,000 | ||||
| intangible assets | 121,952,000 | 123,342,000 | 124,354,000 | 125,758,000 | 127,258,000 | 128,446,000 | |||||||||||||||
| goodwill | 106,350,000 | 106,350,000 | 106,350,000 | 106,350,000 | 106,473,000 | 108,741,000 | |||||||||||||||
| other assets, net of allowance for credit losses of 95 and 91, respectively | 61,729,000 | ||||||||||||||||||||
| total assets | 3,301,263,000 | 3,110,107,000 | 2,999,425,000 | 2,918,618,000 | 2,787,890,000 | 2,726,752,000 | 2,157,645,000 | 2,114,456,000 | 2,085,388,000 | 1,907,450,000 | 1,854,539,000 | 1,773,743,000 | 1,639,113,000 | 1,524,877,000 | 1,463,857,000 | 1,460,030,000 | 1,446,800,000 | 1,487,252,000 | 1,462,469,000 | 1,434,759,000 | 1,124,380,000 |
| liabilities and stockholders’ equity | |||||||||||||||||||||
| current liabilities: | |||||||||||||||||||||
| long-term debt, current portion | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 5,194,000 | 5,194,000 | |||||||
| accounts payable | 41,224,000 | 35,691,000 | 21,813,000 | 55,262,000 | 42,236,000 | 30,714,000 | 22,627,000 | 14,588,000 | 18,134,000 | 18,696,000 | 16,400,000 | 19,477,000 | 17,476,000 | 23,842,000 | 15,810,000 | 20,501,000 | 22,158,000 | 18,090,000 | 18,717,000 | 18,934,000 | 19,516,000 |
| accrued salaries and benefits | 14,612,000 | 10,075,000 | 8,316,000 | 6,786,000 | 14,226,000 | 9,523,000 | 7,129,000 | 4,884,000 | 13,408,000 | 9,202,000 | 6,853,000 | 5,828,000 | 12,626,000 | 9,897,000 | 5,507,000 | 5,258,000 | 9,971,000 | 8,425,000 | 4,679,000 | 5,211,000 | |
| accrued interest | 8,120,000 | 8,646,000 | 7,822,000 | 8,577,000 | 8,203,000 | 8,661,000 | 1,551,000 | 7,132,000 | |||||||||||||
| accrued expenses and other | 29,910,000 | 18,878,000 | 16,580,000 | 18,285,000 | 23,489,000 | 18,991,000 | 10,651,000 | 9,686,000 | |||||||||||||
| accrued construction payables | 40,865,000 | 28,946,000 | 32,580,000 | 31,093,000 | 25,360,000 | 44,318,000 | 22,768,000 | 27,162,000 | 25,788,000 | 21,621,000 | 28,476,000 | 37,269,000 | 30,981,000 | 11,620,000 | 4,658,000 | 12,729,000 | 17,060,000 | 12,180,000 | 19,656,000 | 7,052,000 | 16,669,000 |
| deferred revenue, current portion | 26,839,000 | 21,395,000 | 21,163,000 | 16,905,000 | 16,377,000 | 14,273,000 | 18,401,000 | 14,870,000 | 14,476,000 | 12,868,000 | 15,826,000 | 14,991,000 | 13,713,000 | 10,598,000 | 10,987,000 | 10,800,000 | 9,921,000 | 10,220,000 | 11,665,000 | 11,482,000 | 9,890,000 |
| customer deposits | 16,976,000 | 16,998,000 | 16,707,000 | 16,335,000 | 16,231,000 | 15,744,000 | 12,804,000 | 12,348,000 | 11,828,000 | 11,655,000 | 11,128,000 | 10,830,000 | 10,442,000 | 10,062,000 | 10,191,000 | 9,962,000 | 9,704,000 | 9,396,000 | 9,004,000 | 8,634,000 | 7,939,000 |
| swap liability, current portion | 1,796,000 | 2,846,000 | 8,062,000 | 9,334,000 | 11,504,000 | ||||||||||||||||
| operating lease liability, current portion | 3,983,000 | 3,138,000 | 2,705,000 | 3,281,000 | 3,780,000 | 4,330,000 | 3,867,000 | 3,512,000 | 3,819,000 | 4,011,000 | 4,549,000 | 4,805,000 | |||||||||
| liabilities under tax receivable agreement, current portion | 75,108,000 | 75,108,000 | |||||||||||||||||||
| total current liabilities | 261,637,000 | 224,671,000 | 134,532,000 | 168,586,000 | 159,236,000 | 158,058,000 | 109,112,000 | 103,600,000 | 115,185,000 | 103,233,000 | 108,912,000 | 113,930,000 | 105,113,000 | 84,068,000 | 72,139,000 | 75,028,000 | 83,681,000 | 73,695,000 | 79,007,000 | 65,285,000 | 103,047,000 |
| long-term debt | 1,890,375,000 | 1,780,904,000 | 1,711,433,000 | 1,611,962,000 | 1,526,492,000 | 1,487,338,000 | 991,608,000 | 991,213,000 | 984,821,000 | 832,775,000 | 814,074,000 | 745,372,000 | 646,671,000 | 577,969,000 | 579,268,000 | 580,566,000 | 582,671,000 | 586,566,000 | |||
| operating lease liability | 31,143,000 | 31,276,000 | 31,467,000 | 32,157,000 | 32,631,000 | 34,001,000 | 27,474,000 | 25,536,000 | 26,359,000 | 24,355,000 | 25,117,000 | 26,142,000 | |||||||||
| finance lease liability | 57,080,000 | 57,316,000 | 57,346,000 | 57,376,000 | 57,414,000 | 57,443,000 | 57,471,000 | 57,516,000 | 57,543,000 | 57,570,000 | 57,588,000 | 57,614,000 | |||||||||
| deferred revenue | 26,765,000 | 23,854,000 | 25,507,000 | 25,921,000 | 26,347,000 | 25,880,000 | 24,803,000 | 23,862,000 | 23,564,000 | 23,576,000 | 24,756,000 | 27,852,000 | 36,847,000 | 26,870,000 | 23,155,000 | 22,260,000 | 20,912,000 | 19,965,000 | 19,299,000 | 19,382,000 | 19,301,000 |
| liabilities under tax receivable agreement | 412,456,000 | 395,615,000 | 359,009,000 | 326,315,000 | 311,342,000 | 278,865,000 | 243,690,000 | 234,085,000 | 181,274,000 | 162,076,000 | 132,516,000 | 112,011,000 | 52,535,000 | 52,535,000 | 45,430,000 | 39,534,000 | |||||
| other long-term liabilities | 1,087,000 | 935,000 | 969,000 | 8,360,000 | 13,103,000 | 15,391,000 | 17,108,000 | 22,897,000 | 25,143,000 | 26,014,000 | 24,981,000 | 13,112,000 | 17,519,000 | 14,578,000 | 6,898,000 | 1,823,000 | 1,852,000 | ||||
| total liabilities | 2,268,087,000 | 2,118,956,000 | 2,373,710,000 | 2,299,977,000 | 2,174,232,000 | 2,104,426,000 | 1,538,918,000 | 1,503,489,000 | 1,476,305,000 | 1,301,608,000 | 1,236,702,000 | 1,146,098,000 | 958,132,000 | 834,962,000 | 753,461,000 | 751,678,000 | 754,012,000 | 738,506,000 | 704,911,000 | 692,626,000 | 962,660,000 |
| commitments and contingencies | |||||||||||||||||||||
| stockholders’ equity: | |||||||||||||||||||||
| preferred stock, 0.001 par value per share, 10,000 shares authorized, none issued and outstanding | |||||||||||||||||||||
| class a common stock | 157,000 | 151,000 | 149,000 | 145,000 | 137,000 | 131,000 | 128,000 | 119,000 | 109,000 | 107,000 | 95,000 | 90,000 | 84,000 | 78,000 | 56,000 | 55,000 | 52,000 | 50,000 | 36,000 | 36,000 | |
| class b common stock | 88,000 | 94,000 | 96,000 | 98,000 | 105,000 | 111,000 | 114,000 | 122,000 | 132,000 | 134,000 | 146,000 | 151,000 | 118,000 | 125,000 | 149,000 | 149,000 | 152,000 | 160,000 | 174,000 | 174,000 | |
| class c common stock, 0.001 par value per share, 75,000 shares authorized, none issued and outstanding | |||||||||||||||||||||
| additional paid in capital | 428,481,000 | 392,972,000 | 357,286,000 | 352,984,000 | 313,982,000 | 295,785,000 | 283,505,000 | 266,129,000 | 242,955,000 | 238,471,000 | 217,124,000 | 204,711,000 | 210,349,000 | 198,231,000 | 141,607,000 | 140,191,000 | 128,468,000 | 131,845,000 | 111,073,000 | 107,008,000 | |
| retained earnings | 341,904,000 | 350,567,000 | 2,733,000 | 5,088,000 | 9,000 | 98,000 | 2,420,000 | 454,000 | 1,665,000 | 2,693,000 | 981,000 | 1,774,000 | 2,273,000 | 1,602,000 | |||||||
| accumulated other comprehensive loss | -568,000 | -568,000 | -568,000 | ||||||||||||||||||
| total switch, inc. stockholders’ equity | 770,062,000 | 743,216,000 | 338,775,000 | 329,637,000 | 309,222,000 | 298,778,000 | 288,853,000 | 266,458,000 | 242,950,000 | 238,889,000 | 215,690,000 | 207,451,000 | 210,622,000 | 199,010,000 | 143,599,000 | 143,210,000 | 129,775,000 | 133,951,000 | 113,678,000 | ||
| noncontrolling interest | 263,114,000 | 247,935,000 | 286,940,000 | 289,004,000 | 304,436,000 | 323,548,000 | 329,874,000 | 344,509,000 | 366,133,000 | 366,953,000 | 402,147,000 | 420,194,000 | 470,359,000 | 490,905,000 | 566,797,000 | 565,142,000 | |||||
| total stockholders’ equity | 1,033,176,000 | 991,151,000 | 625,715,000 | 618,641,000 | 613,658,000 | 622,326,000 | 618,727,000 | 610,967,000 | 609,083,000 | 605,842,000 | 617,837,000 | 627,645,000 | 680,981,000 | 689,915,000 | 710,396,000 | 708,352,000 | 692,788,000 | 748,746,000 | 757,558,000 | ||
| total liabilities and stockholders’ equity | 3,301,263,000 | 3,110,107,000 | 2,999,425,000 | 2,918,618,000 | 2,787,890,000 | 2,726,752,000 | 2,157,645,000 | 2,114,456,000 | 2,085,388,000 | 1,907,450,000 | 1,854,539,000 | 1,773,743,000 | 1,639,113,000 | 1,524,877,000 | 1,463,857,000 | 1,460,030,000 | 1,446,800,000 | 1,487,252,000 | 1,462,469,000 | ||
| other assets, net of allowance for credit losses of 94 and 91, respectively | 59,583,000 | 59,097,000 | |||||||||||||||||||
| accumulated deficit | -18,188,000 | ||||||||||||||||||||
| other current assets, net of allowance for credit losses of 3 and 0, respectively | 4,624,000 | 2,831,000 | 2,564,000 | 2,761,000 | |||||||||||||||||
| other assets, net of allowance for credit losses of 91 and 87, respectively | 56,776,000 | 55,429,000 | |||||||||||||||||||
| (accumulated deficit) retained earnings | -23,022,000 | -5,020,000 | -325,000 | -1,754,000 | -51,000 | ||||||||||||||||
| accumulated other comprehensive income | -568,000 | 18,000 | 18,000 | 18,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | 79,000 | |||||
| other assets, net of allowance for credit losses of 92 and 87, respectively | 58,609,000 | ||||||||||||||||||||
| other assets, net of allowance for credit losses of 95 and 87, respectively | 56,207,000 | ||||||||||||||||||||
| other current assets, net of allowance for credit losses of 2 and 0, respectively | 2,125,000 | ||||||||||||||||||||
| interest rate swap liability, current portion | 9,314,000 | 9,418,000 | 9,332,000 | 9,225,000 | 8,297,000 | ||||||||||||||||
| other current assets, net of allowance for credit losses of 0 | 2,235,000 | ||||||||||||||||||||
| other assets, net of allowance for credit losses of 87 and 0, respectively | 48,366,000 | ||||||||||||||||||||
| other assets, net of allowance for credit losses of 81 and 0, respectively | 47,965,000 | ||||||||||||||||||||
| accrued expenses | 12,396,000 | 9,951,000 | 11,371,000 | 14,718,000 | 13,875,000 | 12,049,000 | 11,832,000 | 9,778,000 | 9,340,000 | 7,881,000 | 7,783,000 | 6,469,000 | 17,750,000 | ||||||||
| finance lease liability, current portion | 4,000 | 4,000 | 12,000 | 12,000 | |||||||||||||||||
| other current assets, net of allowance for credit losses of 5 and 0, respectively | 3,190,000 | ||||||||||||||||||||
| other assets, net of allowance for credit losses of 77 and 0, respectively | 44,270,000 | ||||||||||||||||||||
| other current assets, net of allowance for credit losses of 6 and 0, respectively | 4,436,000 | ||||||||||||||||||||
| other assets, net of allowance for credit losses of 73 and 0, respectively | 45,429,000 | ||||||||||||||||||||
| other current assets | 3,817,000 | 2,428,000 | 2,359,000 | 2,339,000 | 2,332,000 | 3,091,000 | 6,085,000 | 3,679,000 | 2,101,000 | 9,597,000 | |||||||||||
| other assets | 45,785,000 | 18,349,000 | 18,103,000 | 17,363,000 | 17,050,000 | 14,871,000 | 28,867,000 | 9,194,000 | 9,155,000 | 11,894,000 | |||||||||||
| class c common stock, 0.001 par value per share, 75,000 shares authorized, zero and 42,945 shares issued and outstanding, respectively | |||||||||||||||||||||
| capital lease obligations | 19,466,000 | 19,466,000 | 19,466,000 | 19,466,000 | 19,466,000 | 19,466,000 | 19,466,000 | 19,466,000 | 19,466,000 | ||||||||||||
| class c common stock, 0.001 par value per share, 75,000 shares authorized, 42,945 shares issued and outstanding | 43,000 | 43,000 | 43,000 | 43,000 | 43,000 | 43,000 | |||||||||||||||
| dividends and distributions payable | 7,154,000 | ||||||||||||||||||||
| capital lease obligations, current portion | 333,000 | 2,309,000 | 2,309,000 | 2,309,000 | 3,500,000 | ||||||||||||||||
| non-controlling interest | 563,013,000 | 614,795,000 | 643,880,000 | 633,239,000 | |||||||||||||||||
| long term deposit | 4,712,000 | 4,197,000 | 4,262,000 | ||||||||||||||||||
| long term debt, current portion | 5,194,000 | 5,194,000 | 5,194,000 | ||||||||||||||||||
| long term debt | 583,969,000 | 585,268,000 | 818,865,000 | ||||||||||||||||||
| other long term liabilities | 1,877,000 | ||||||||||||||||||||
| accrued interest, capital lease obligations | 1,871,000 | 1,927,000 | 1,981,000 | ||||||||||||||||||
| preferred stock, 0.001 par value per share, 10,000,000 shares authorized, none issued and outstanding | |||||||||||||||||||||
| class c common stock, 0.001 par value per share, 75,000,000 shares authorized, 42,944,647 shares issued and outstanding, respectively | 43,000 | ||||||||||||||||||||
| cash | 264,666,000 | 7,992,000 | |||||||||||||||||||
| investments | |||||||||||||||||||||
| liabilities and stockholders'/members' equity | |||||||||||||||||||||
| accrued michigan building and land purchase | 22,589,000 | ||||||||||||||||||||
| accrued impact fee expense | |||||||||||||||||||||
| stockholders'/members' equity: | |||||||||||||||||||||
| members' equity | |||||||||||||||||||||
| preferred stock, 0.001 par value per share, 10,000,000 shares authorized, none issued and outstanding as of december 31, 2017 | |||||||||||||||||||||
| class c common stock, 0.001 par value per share, 75,000,000 shares authorized, 42,944,647 shares issued and outstanding as of december 31, 2017 | 43,000 | ||||||||||||||||||||
| accumulated other comprehensive gain | 31,000 | 93,000 | |||||||||||||||||||
| total switch, inc. stockholders'/switch, ltd. members' equity | 108,894,000 | ||||||||||||||||||||
| total stockholders'/members' equity | 742,133,000 | ||||||||||||||||||||
| total liabilities and stockholders'/members' equity | 1,434,759,000 | ||||||||||||||||||||
| liabilities and members' equity | |||||||||||||||||||||
| members' equity: | |||||||||||||||||||||
| members' equity, 225,000,000 units authorized; 200,750,505 and 198,866,680 units issued and outstanding, respectively | 161,627,000 | ||||||||||||||||||||
| total members' equity | 161,720,000 | ||||||||||||||||||||
| total liabilities and members' equity | 1,124,380,000 | ||||||||||||||||||||
| revenue | 97,689,000 | ||||||||||||||||||||
| cost of revenue | 50,744,000 | ||||||||||||||||||||
| gross profit | 46,945,000 | ||||||||||||||||||||
| selling, general and administrative expense | 21,494,000 | ||||||||||||||||||||
| income from operations | 25,451,000 | ||||||||||||||||||||
| other income: | |||||||||||||||||||||
| interest expense, including 403, 266, 901 and 740, respectively, in amortization of debt issuance costs | -8,856,000 | ||||||||||||||||||||
| equity in net incomees of investments | -221,000 | ||||||||||||||||||||
| loss on extinguishment of debt | |||||||||||||||||||||
| gain on lease termination | |||||||||||||||||||||
| other | 112,000 | ||||||||||||||||||||
| total other income | -8,965,000 | ||||||||||||||||||||
| net income | 16,486,000 | ||||||||||||||||||||
| net income per unit: | |||||||||||||||||||||
| basic | 80 | ||||||||||||||||||||
| diluted | 80 | ||||||||||||||||||||
| weighted-average units used in computing net income per unit: | |||||||||||||||||||||
| other comprehensive income: | |||||||||||||||||||||
| foreign currency translation adjustments | 221,000 | ||||||||||||||||||||
| comprehensive income | 16,707,000 |
We provide you with 20 years of balance sheets for Switch stock, allowing you to gain comprehensive visibility into the fundamentals of the company. Our detailed breakdowns include key financial metrics such as asset and liabilities, payables and receivables, long debts and short debts, cash and inventories, expenses and profits. This in-depth information is essential for making informed investment decisions and understanding the financial health and performance of Switch. Explore the full financial landscape of Switch stock with our expertly curated balance sheets.
The information provided in this report about Switch stock is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.