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Qorvo (NAS:QRVO) Other Current Assets

: $115 Mil (As of Dec. 2023)
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Qorvo's other current assets for the quarter that ended in Dec. 2023 was $115 Mil.

Qorvo's quarterly other current assets declined from Jun. 2023 ($99 Mil) to Sep. 2023 ($96 Mil) but then increased from Sep. 2023 ($96 Mil) to Dec. 2023 ($115Mil).

Qorvo's annual other current assets increased from Mar. 2021 ($93 Mil) to Mar. 2022 ($121 Mil) declined from Mar. 2022 ($121 Mil) to Mar. 2023 ($93 Mil).


Qorvo Other Current Assets Historical Data

The historical data trend for Qorvo's Other Current Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Qorvo Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
Other Current Assets
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 61.91 76.18 93.38 120.52 93.39

Qorvo Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Other Current Assets Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 83.20 93.39 98.72 95.56 115.03

Qorvo Other Current Assets Calculation

Technically, the other current assets line may include any asset that will be used up within the next 12 months. However, other current assets never include assets that are listed elsewhere in the current assets section of the balance sheet. For this reason, other current assets are almost never:


Cash
Trade Receivables
Inventory

The assets grouped under other current assets are most commonly:


Prepaid Expenses
Tax Assets
Non-Trade Receivables
Other (too numerous to list)

Some companies can and do choose to report each of these items separately.

Other current assets may be made up largely of Prepaid Expenses - unless these are listed on a separate line of the balance sheet.

Prepaid expenses are exactly what they sound like. If a company pays a $30 million insurance premium on the last day of June that will provide coverage for the entire month of July, the company will record a $30 million prepaid expense to account for the insurance expense it will show in July that it already paid for in June.

Tax assets can be quite complex. It is not common for companies to have both tax assets and tax liabilities. It is important that investors take note of both items when considering future taxes.

Non-Trade receivables are rarely a large item. They include money owed to the company by non-customers. Non-trade receivables can be caused by related party transactions, the sale of a business unit, etc. The notes to the company's financial statements will often provide much more detail on this item if it is truly important.

There are a variety of other current assets like non-trade receivables which are simply too numerous to list. If a company is following correct reporting procedures, it should not lump items that are different from one another and yet individually important to the company together under the line Other Current Assets.

At most companies, other current assets are a small and unimportant part of the total balance sheet.


Qorvo Other Current Assets Related Terms

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Qorvo (NAS:QRVO) Business Description

Traded in Other Exchanges
Address
7628 Thorndike Road, Greensboro, NC, USA, 27409-9421
Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015. The company specializes in radio frequency filters, power amplifiers, and front-end modules used in many of the world's most advanced smartphones. Qorvo also has a suite of products sold into a variety of nonsmartphone end markets, such as wireless base stations, cable TV and networking equipment, and infrastructure and military applications.
Executives
Steven E Creviston officer: VP and Pres. Mobile Products
Gina Harrison officer: VP and Corporate Controller 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Philip Chesley officer: Pres. Infra & Defense 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Walden C Rhines director C/O TRIQUINT SEMICONDUCTOR INC, 2300 NE BROOKWOOD PKWY, HILLSBORO OR 97124
Paul J Fego officer: VP, Global Operations 15 SECOR ROAD, PO BOX 5226, BROOKFIELD CT 06804
Frank P. Stewart officer: SVP, Advanced Cellular 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Roderick Nelson director 2300 NE BROOKWOOD PARKWAY, HILLSBORO OR 97124
Robert A Bruggeworth director, officer: President and CEO C/O RF MICRO DEVICES, INC., 7628 THORNDIKE ROAD, GREENSBORO NC 27409
John R Harding director C/O MARIMBA INC, 440 CLYDE AVENUE, MOUNTAINVIEW CA 94043
Grant Brown officer: SVP & Chief Financial Officer 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Jeffery R Gardner director ONE ALLIED DRIVE, LITTLE ROCK AR 72202
James L Klein officer: VP and Pres. Infra. & Defense 2300NE BROOKWOOD PKWY, HILLSBORO OR 97124
Susan Louise Spradley director C/O NORTEL NETWORKS, 8200 DIXIE ROAD STE 100, BRAMPTON ONTARIO A6 L6T 5PT
Walter H Wilkinson director C/O RF MICRO DEVICES, INC., 7628 THORNDIKE ROAD, GREENSBORO NC 27409
Mark J. Murphy officer: Chief Financial Officer DELPHI AUTOMOTIVE PLC, 5725 DELPHI DRIVE, TROY MI 48098