Basis of Presentation |
12 Months Ended |
|---|---|
Feb. 01, 2020 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | Basis of Presentation The Company Marvell Technology Group Ltd., a Bermuda exempted company, and its subsidiaries (the “Company”), is a fabless semiconductor provider of high-performance application-specific standard products. The Company’s core strength is the development of complex System-on-a-Chip devices, leveraging its extensive technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. The Company also develops platforms that it defines as integrated hardware along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution. The Company’s broad product portfolio includes devices for storage and networking. Basis of Presentation The Company’s fiscal year is the 52- or 53-week period ending on the Saturday closest to January 31. Accordingly, every fifth or sixth fiscal year will have a 53-week period. The additional week in a 53-week year is added to the fourth quarter, making such quarter consist of 14 weeks. Fiscal 2020 and fiscal 2019 each had a 52-week period, while fiscal 2018 had a 53-week period. Certain prior period amounts have been reclassified to conform to current year presentation. On September 19, 2019, the Company completed the acquisition of Aquantia. On November 5, 2019, the Company completed the acquisition of Avera, the Application Specific Integrated Circuit (“ASIC”) business of GlobalFoundries. See “Note 3 - Business Combinations” for additional information. On December 6, 2019, the Company completed the divestiture of the Wi-Fi Connectivity business to NXP USA, Inc, a subsidiary of NXP Semiconductors (“NXP”). Based on the terms of the agreement, the Company received sale consideration of $1.7 billion in cash proceeds. The divestiture resulted in a pre-tax gain on sale of $1.1 billion, which is included in other income, net in the Consolidated Statements of Operations for the year ended February 1, 2020. On December 31, 2019, the Company completed an intra-entity transfer of the majority of its intellectual property to a subsidiary in Singapore. The transfer aligns the global economic ownership of the Company's intellectual property rights with its current and future business operations. The income tax benefit of $763.0 million in fiscal 2020 is primarily due to the recognition of a deferred tax asset of $659.0 million from the Singapore tax basis in the intellectual property. In addition, the Company recognized $104.0 million of income tax benefit from the reversal of deferred tax liabilities primarily related to previously acquired intangible assets. See “Note 16 - Income Taxes” for additional information.
|