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Garmin Ltd – ‘10-K’ for 12/30/17 – ‘R30’

On:  Wednesday, 2/21/18, at 7:02am ET   ·   For:  12/30/17   ·   Accession #:  1615774-18-1344   ·   File #:  0-31983

Previous ‘10-K’:  ‘10-K’ on 2/22/17 for 12/31/16   ·   Next:  ‘10-K’ on 2/20/19 for 12/29/18   ·   Latest:  ‘10-K’ on 2/21/24 for 12/30/23   ·   6 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/21/18  Garmin Ltd                        10-K       12/30/17   90:8.5M                                   S2 Filings LLC/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    872K 
 2: EX-10.60    Material Contract                                   HTML     58K 
 3: EX-10.61    Material Contract                                   HTML     74K 
 4: EX-10.62    Material Contract                                   HTML     69K 
 5: EX-21.1     Subsidiaries List                                   HTML     31K 
 6: EX-23.1     Consent of Experts or Counsel                       HTML     27K 
 7: EX-31.1     Certification -- §302 - SOA'02                      HTML     27K 
 8: EX-31.2     Certification -- §302 - SOA'02                      HTML     27K 
 9: EX-32.1     Certification -- §906 - SOA'02                      HTML     25K 
10: EX-32.2     Certification -- §906 - SOA'02                      HTML     25K 
17: R1          Document and Entity Information                     HTML     53K 
18: R2          Consolidated Balance Sheets                         HTML    159K 
19: R3          Consolidated Balance Sheets (Parenthetical)         HTML     35K 
20: R4          Consolidated Statements of Income                   HTML     81K 
21: R5          Consolidated Statements of Comprehensive Income     HTML     35K 
22: R6          Consolidated Statements of Stockholders' Equity     HTML     77K 
23: R7          Consolidated Statements of Stockholders' Equity     HTML     26K 
                (Parenthetical)                                                  
24: R8          Consolidated Statements of Cash Flows               HTML    146K 
25: R9          Description of the Business                         HTML     27K 
26: R10         Summary of Significant Accounting Policies          HTML    204K 
27: R11         Marketable Securities                               HTML    140K 
28: R12         Commitments and Contingencies                       HTML     41K 
29: R13         Employee Benefit Plans                              HTML     29K 
30: R14         Income Taxes                                        HTML    120K 
31: R15         Fair Value of Financial Instruments                 HTML     37K 
32: R16         Segment Information                                 HTML     93K 
33: R17         Stock Compensation Plans                            HTML     88K 
34: R18         Earnings Per Share                                  HTML     47K 
35: R19         Share Repurchase Plan                               HTML     26K 
36: R20         Accumulated Other Comprehensive Income              HTML     40K 
37: R21         Selected Quarterly Information (Unaudited)          HTML     55K 
38: R22         Subsequent Events                                   HTML     26K 
39: R23         Schedule Ii - Valuation and Qualifying Accounts     HTML     70K 
40: R24         Summary of Significant Accounting Policies          HTML    283K 
                (Policies)                                                       
41: R25         Summary of Significant Accounting Policies          HTML    143K 
                (Tables)                                                         
42: R26         Marketable Securities (Tables)                      HTML    140K 
43: R27         Commitments and Contingencies (Tables)              HTML     30K 
44: R28         Income Taxes (Tables)                               HTML    113K 
45: R29         Fair Value of Financial Instruments (Tables)        HTML     36K 
46: R30         Segment Information (Tables)                        HTML     93K 
47: R31         Stock Compensation Plans (Tables)                   HTML     80K 
48: R32         Earnings Per Share (Tables)                         HTML     47K 
49: R33         Accumulated Other Comprehensive Income (Tables)     HTML     41K 
50: R34         Selected Quarterly Information (Unaudited)          HTML     54K 
                (Tables)                                                         
51: R35         Summary of Significant Accounting Policies          HTML     33K 
                (Details)                                                        
52: R36         Summary of Significant Accounting Policies          HTML     34K 
                (Details 1)                                                      
53: R37         Summary of Significant Accounting Policies          HTML     40K 
                (Details 2)                                                      
54: R38         Summary of Significant Accounting Policies          HTML     32K 
                (Details 3)                                                      
55: R39         Summary of Significant Accounting Policies          HTML     32K 
                (Details 4)                                                      
56: R40         Summary of Significant Accounting Policies          HTML    138K 
                (Details 5)                                                      
57: R41         Summary of Significant Accounting Policies          HTML    110K 
                (Details Narrative)                                              
58: R42         Marketable Securities (Details)                     HTML     76K 
59: R43         Marketable Securities (Details 1)                   HTML     53K 
60: R44         Marketable Securities (Details 2)                   HTML     56K 
61: R45         Marketable Securities (Details 3)                   HTML     56K 
62: R46         Marketable Securities (Details Narrative)           HTML     29K 
63: R47         Commitments and Contingencies (Details)             HTML     42K 
64: R48         Commitments and Contingencies (Details Narrative)   HTML     32K 
65: R49         Employee Benefit Plans (Details Narrative)          HTML     30K 
66: R50         Income Taxes (Details)                              HTML     55K 
67: R51         Income Taxes (Details 1)                            HTML     58K 
68: R52         Income Taxes (Details 2)                            HTML     87K 
69: R53         Income Taxes (Details 3)                            HTML     38K 
70: R54         Income Taxes (Details Narrative)                    HTML     53K 
71: R55         Income Taxes (Details Narrative 1)                  HTML     67K 
72: R56         Fair Value of Financial Instruments (Details)       HTML     35K 
73: R57         Segment Information (Details)                       HTML     52K 
74: R58         Segment Information (Details 1)                     HTML     48K 
75: R59         Segment Information (Details Narrative)             HTML     27K 
76: R60         Stock Compensation Plans (Details)                  HTML     55K 
77: R61         Stock Compensation Plans (Details 1)                HTML     45K 
78: R62         Stock Compensation Plans (Details 2)                HTML     50K 
79: R63         Stock Compensation Plans (Details Narrative)        HTML     69K 
80: R64         Stock Compensation Plans (Details Narrative 1)      HTML     57K 
81: R65         Earnings Per Share (Details)                        HTML     49K 
82: R66         Earnings Per Share (Details Narrative)              HTML     26K 
83: R67         Share Repurchase Plan (Details Narrative)           HTML     35K 
84: R68         Accumulated Other Comprehensive Income (Details)    HTML     69K 
85: R69         Accumulated Other Comprehensive Income (Details 1)  HTML     34K 
86: R70         Selected Quarterly Information (Unaudited)          HTML     44K 
                (Details)                                                        
87: R71         Schedule Ii - Valuation and Qualifying Accounts     HTML     42K 
                (Details)                                                        
89: XML         IDEA XML File -- Filing Summary                      XML    156K 
88: EXCEL       IDEA Workbook of Financial Reports                  XLSX    111K 
11: EX-101.INS  XBRL Instance -- grmn-20171230                       XML   3.03M 
13: EX-101.CAL  XBRL Calculations -- grmn-20171230_cal               XML    261K 
14: EX-101.DEF  XBRL Definitions -- grmn-20171230_def                XML    558K 
15: EX-101.LAB  XBRL Labels -- grmn-20171230_lab                     XML   1.21M 
16: EX-101.PRE  XBRL Presentations -- grmn-20171230_pre              XML    943K 
12: EX-101.SCH  XBRL Schema -- grmn-20171230                         XSD    158K 
90: ZIP         XBRL Zipped Folder -- 0001615774-18-001344-xbrl      Zip    193K

‘R30’   —   Segment Information (Tables)

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.8.0.1
Segment Information (Tables)
 12 Months Ended
Segment Reporting [Abstract]  
Schedule of revenues, gross profit, and operating income

The overall impact of the move was immaterial. However, action camera related operating results for the 52-weeks ended December 26, 2015 has been recast to conform to the 2017 and 2016 presentation.

 

    Reportable Segments  
                                     
52-Weeks Ended December 30, 2017   Outdoor     Fitness     Marine     Auto     Aviation     Total  
                                     
Net sales   $ 698,867     $ 762,194     $ 374,001     $ 750,583     $ 501,359     $ 3,087,004  
Gross profit     448,410       422,636       212,592       327,921       371,605       1,783,164  
Operating income     249,867       146,765       50,328       67,967       153,933       668,860  

 

53-Weeks Ended December 31, 2016                                    
                                     
Net sales   $ 546,326     $ 818,486     $ 331,947     $ 882,558     $ 439,348     $ 3,018,665  
Gross profit     340,504       437,205       183,709       388,747       329,405       1,679,570  
Operating income     184,035       160,596       52,167       102,347       124,764       623,909  

 

52-Weeks Ended December 26, 2015                                    
                                     
Net sales   $ 411,184     $ 661,599     $ 286,778     $ 1,062,091     $ 398,618     $ 2,820,270  
Gross profit     254,878       366,139       158,493       464,480       294,714       1,538,704  
Operating income     139,070       134,574       28,611       136,069       111,257       549,581  
Schedule of net sales, long-lived assets and net assets by geographic area

Net sales, long-lived assets (property and equipment), and net assets by geographic area are as shown below for the years ended December 30, 2017, December 31, 2016, and December 26, 2015. Note that APAC refers to the Asia Pacific region, and EMEA includes Europe, the Middle East and Africa.

 

    Americas     APAC     EMEA     Total  
December 30, 2017                                
Net sales to external customers (1)   $ 1,475,661     $ 436,188     $ 1,175,155     $ 3,087,004  
Property and equipment, net     381,974       173,392       40,318       595,684  
Net assets (2)     2,325,569       982,898       493,999       3,802,466  
                                 
December 31, 2016                                
Net sales to external customers (1)   $ 1,518,934     $ 386,549     $ 1,113,182     $ 3,018,665  
Property and equipment, net     300,158       144,470       38,250       482,878  
Net assets (2)     2,153,161       933,999       330,843       3,418,003  
                                 
December 26, 2015                                
Net sales to external customers (1)   $ 1,469,243     $ 337,888     $ 1,013,139     $ 2,820,270  
Property and equipment, net     294,234       111,700       40,154       446,089  
Net assets (2)     2,110,108       921,410       313,608       3,345,126  

 

(1) The U.S. is the only country which constitutes greater than 10% of net sales to external customers.

(2) Americas and APAC net assets are primarily held in the United States and Taiwan, respectively.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/21/188-K
For Period end:12/30/175
12/31/1610-K,  11-K,  5,  SD
12/26/1510-K
 List all Filings 

6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/21/24  Garmin Ltd.                       10-K       12/30/23   85:14M                                    Donnelley … Solutions/FA
 2/22/23  Garmin Ltd.                       10-K       12/31/22   85:18M                                    Donnelley … Solutions/FA
 2/16/22  Garmin Ltd.                       10-K       12/25/21   91:18M                                    Donnelley … Solutions/FA
 2/17/21  Garmin Ltd.                       10-K       12/26/20   96:17M                                    ActiveDisclosure/FA
 7/23/18  SEC                               UPLOAD8/20/18    1:44K  Garmin Ltd.
 7/11/18  SEC                               UPLOAD8/20/18    1:46K  Garmin Ltd.
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