Preferred stock, shares authorized (in shares)

ARISTA NETWORKS, INC. Consolidated Balance Sheets (In thousands, except par value)  
  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | December 31, |
|  |  | 2021 |  | 2020 |
| ASSETS |  |  |  |  |
| CURRENT ASSETS: |  |  |  |  |
| Cash and cash equivalents  |  | $ | 620,813  |  |  | $ | 893,219  |  |
| Marketable securities |  | 2,787,502  |  |  | 1,979,649  |  |
| Accounts receivable, net of rebates and allowances of $5,088 and $4,497, respectively  |  | 516,509  |  |  | 389,540  |  |
| Inventories  |  | 650,117  |  |  | 479,668  |  |
| Prepaid expenses and other current assets  |  | 237,735  |  |  | 94,922  |  |
| Total current assets  |  | 4,812,676  |  |  | 3,836,998  |  |
| Property and equipment, net |  | 78,634  |  |  | 32,231  |  |
| Acquisition-related intangible assets, net |  | 93,555  |  |  | 122,790  |  |
| Goodwill |  | 188,397  |  |  | 189,696  |  |
| Investments |  | 20,247  |  |  | 8,314  |  |
| Operating lease right-of-use assets |  | 65,182  |  |  | 77,288  |  |
| Deferred tax assets  |  | 442,295  |  |  | 441,531  |  |
| Other assets |  | 33,443  |  |  | 30,071  |  |
| TOTAL ASSETS  |  | $ | 5,734,429  |  |  | $ | 4,738,919  |  |
| LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |
| CURRENT LIABILITIES: |  |  |  |  |
| Accounts payable  |  | $ | 202,636  |  |  | $ | 134,235  |  |
| Accrued liabilities  |  | 226,643  |  |  | 143,357  |  |
| Deferred revenue  |  | 593,578  |  |  | 396,259  |  |
| Other current liabilities  |  | 86,972  |  |  | 94,392  |  |
| Total current liabilities  |  | 1,109,829  |  |  | 768,243  |  |
| Income taxes payable  |  | 69,916  |  |  | 53,053  |  |
| Operating lease liabilities, non-current |  | 56,527  |  |  | 72,397  |  |
|  |  |  |  |  |
| Deferred revenue, non-current |  | 335,734  |  |  | 254,568  |  |
| Deferred tax liabilities, non-current |  | 129,074  |  |  | 227,936  |  |
| Other long-term liabilities  |  | 54,749  |  |  | 42,431  |  |
| TOTAL LIABILITIES  |  | 1,755,829  |  |  | 1,418,628  |  |
| Commitments and contingencies (Note 7) |  |  |  |  |
| STOCKHOLDERS’ EQUITY: |  |  |  |  |
| Preferred stock, $0.0001 par value—100,000 shares authorized and no shares issued and outstanding as of December 31, 2021 and 2020 |  | —  |  |  | —  |  |
| Common stock, $0.0001 par value—1,000,000 shares authorized as of December 31, 2021 and 2020; 307,681 and 304,696 shares issued and outstanding as of December 31, 2021 and 2020 (1) |  | 31 |  | 30  |  |
| Additional paid-in capital (1)  |  | 1,530,046 |  | 1,292,409  |  |
| Retained earnings  |  | 2,456,823 |  | 2,027,614  |  |
| Accumulated other comprehensive income  |  | (8,300) |  | 238  |  |
| TOTAL STOCKHOLDERS’ EQUITY  |  | 3,978,600  |  |  | 3,320,291  |  |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY  |  | $ | 5,734,429  |  |  | $ | 4,738,919  |  |

(1) Prior period results have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021. See Note 1, Organization and Summary of Accounting Policies, for details.The accompanying notes are an integral part of these consolidated financial statements.67
