$ANET
Arista Networks, Inc.

2021 Q1 Form 10-Q Financial Statement

#000159653221000149 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $667.6M $523.0M
YoY Change 27.63% -12.16%
Cost Of Revenue $242.3M $184.8M
YoY Change 31.12% -14.0%
Gross Profit $425.3M $338.3M
YoY Change 25.73% -11.12%
Gross Profit Margin 63.71% 64.67%
Selling, General & Admin $86.49M $75.44M
YoY Change 14.66% 13.34%
% of Gross Profit 20.34% 22.3%
Research & Development $132.5M $113.2M
YoY Change 17.09% -5.44%
% of Gross Profit 31.15% 33.45%
Depreciation & Amortization $12.66M $10.21M
YoY Change 24.0% 22.08%
% of Gross Profit 2.98% 3.02%
Operating Expenses $219.0M $188.6M
YoY Change 16.11% 1.27%
Operating Profit $206.3M $149.7M
YoY Change 37.84% -22.99%
Interest Expense $2.000M $11.70M
YoY Change -82.91%
% of Operating Profit 0.97% 7.82%
Other Income/Expense, Net $1.575M $12.16M
YoY Change -87.04% -1.43%
Pretax Income $207.9M $161.8M
YoY Change 28.46% -21.7%
Income Tax $27.50M $23.39M
% Of Pretax Income 13.23% 14.45%
Net Earnings $180.4M $138.4M
YoY Change 30.29% -31.14%
Net Earnings / Revenue 27.02% 26.47%
Basic Earnings Per Share $0.59 $1.82
Diluted Earnings Per Share $0.57 $1.73
COMMON SHARES
Basic Shares Outstanding 305.2M shares 76.26M shares
Diluted Shares Outstanding 318.5M shares 79.94M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.028B $2.637B
YoY Change 14.82% 22.6%
Cash & Equivalents $843.3M $761.3M
Short-Term Investments $2.184B $1.876B
Other Short-Term Assets $69.79M $50.37M
YoY Change 38.55% -20.59%
Inventory $483.2M $261.8M
Prepaid Expenses
Receivables $380.5M $352.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.003B $3.337B
YoY Change 19.96% 15.03%
LONG-TERM ASSETS
Property, Plant & Equipment $32.46M $37.81M
YoY Change -14.14% -11.15%
Goodwill $188.3M $84.78M
YoY Change 122.07% 57.93%
Intangibles
YoY Change
Long-Term Investments $10.30M $4.200M
YoY Change 145.24% -86.67%
Other Assets $33.19M $27.03M
YoY Change 22.8% 7.84%
Total Long-Term Assets $890.8M $774.9M
YoY Change 14.95% 79.61%
TOTAL ASSETS
Total Short-Term Assets $4.003B $3.337B
Total Long-Term Assets $890.8M $774.9M
Total Assets $4.894B $4.112B
YoY Change 19.02% 23.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $136.9M $84.82M
YoY Change 61.39% -5.58%
Accrued Expenses $122.5M $100.4M
YoY Change 21.93% -3.63%
Deferred Revenue $457.8M $332.2M
YoY Change 37.82% 9.01%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $786.5M $573.0M
YoY Change 37.26% 5.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $44.62M $38.10M
YoY Change 17.12% 55.91%
Total Long-Term Liabilities $44.62M $38.10M
YoY Change 17.12% 55.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $786.5M $573.0M
Total Long-Term Liabilities $44.62M $38.10M
Total Liabilities $1.442B $1.263B
YoY Change 14.2% 35.51%
SHAREHOLDERS EQUITY
Retained Earnings $2.107B $1.699B
YoY Change 24.01% 42.22%
Common Stock $8.000K $8.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.451B $2.849B
YoY Change
Total Liabilities & Shareholders Equity $4.894B $4.112B
YoY Change 19.02% 23.39%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $180.4M $138.4M
YoY Change 30.29% -31.14%
Depreciation, Depletion And Amortization $12.66M $10.21M
YoY Change 24.0% 22.08%
Cash From Operating Activities $254.7M $194.8M
YoY Change 30.71% 14.55%
INVESTING ACTIVITIES
Capital Expenditures $5.096M $3.107M
YoY Change 64.02% -40.67%
Acquisitions -$18.00K $66.23M
YoY Change -100.03%
Other Investing Activities -$212.9M -$326.4M
YoY Change -34.77% 988.0%
Cash From Investing Activities -$217.9M -$329.5M
YoY Change -33.85% 835.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $101.4M $227.9M
YoY Change -55.53%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$85.77M -$212.6M
YoY Change -59.65% -968.52%
NET CHANGE
Cash From Operating Activities $254.7M $194.8M
Cash From Investing Activities -$217.9M -$329.5M
Cash From Financing Activities -$85.77M -$212.6M
Net Change In Cash -$49.88M -$349.9M
YoY Change -85.74% -319.3%
FREE CASH FLOW
Cash From Operating Activities $254.7M $194.8M
Capital Expenditures $5.096M $3.107M
Free Cash Flow $249.6M $191.7M
YoY Change 30.17% 16.3%

Facts In Submission

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CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-25751000 USD
CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3499000 USD
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-3946000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2833000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6386000 USD
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-20759000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-39450000 USD
CY2021Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
69204000 USD
CY2020Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
21000 USD
CY2021Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-10436000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
3982000 USD
CY2021Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-14661000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-3422000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
254675000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
194847000 USD
CY2021Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
379605000 USD
CY2020Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
414503000 USD
CY2021Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
590476000 USD
CY2020Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
674649000 USD
CY2021Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
66225000 USD
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5096000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3107000 USD
CY2021Q1 anet Escrow Receipts From Past Business Acquisitions
EscrowReceiptsFromPastBusinessAcquisitions
18000 USD
CY2020Q1 anet Escrow Receipts From Past Business Acquisitions
EscrowReceiptsFromPastBusinessAcquisitions
0 USD
CY2021Q1 anet Payments For Proceeds From Investments In Privately Held Companies
PaymentsForProceedsFromInvestmentsInPrivatelyHeldCompanies
2000000 USD
CY2020Q1 anet Payments For Proceeds From Investments In Privately Held Companies
PaymentsForProceedsFromInvestmentsInPrivatelyHeldCompanies
0 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-217949000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-329478000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
18081000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
17082000 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2496000 USD
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1740000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
101355000 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
227895000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-85770000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-212553000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-838000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2691000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-49882000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-349875000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
897454000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1115515000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
847572000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
765640000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1529000 USD
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
524000 USD
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The preparation of the condensed consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. These estimates and assumptions include, but are not limited to, revenue recognition and deferred revenue; allowance for doubtful accounts, sales rebates and return reserves; valuation of goodwill and acquisition-related intangible assets, accounting for income taxes, including the valuation allowance on deferred tax assets and reserves for uncertain tax positions; estimate of useful lives of long-lived assets including intangible assets; valuation of inventory and contract manufacturer/supplier liabilities; and the recognition and measurement of contingent liabilities. We evaluate our estimates and assumptions based on historical experience and other factors and adjust those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates.</span></div>
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
2183707000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1186000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
563000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2184330000 USD
CY2021Q1 anet Cash Equivalents Marketable Securities And Other Assets Amortized Cost
CashEquivalentsMarketableSecuritiesAndOtherAssetsAmortizedCost
2567288000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1186000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
563000 USD
CY2021Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2567911000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1978283000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1700000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
843336000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
893219000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4236000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4235000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
847572000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
334000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1979649000 USD
CY2020Q4 anet Cash Equivalents Marketable Securities And Other Assets Amortized Cost
CashEquivalentsMarketableSecuritiesAndOtherAssetsAmortizedCost
2421372000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1700000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
334000 USD
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
2422738000 USD
CY2021Q1 us-gaap Debt Securities Available For Sale Term
DebtSecuritiesAvailableForSaleTerm
P24M
CY2021Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1246986000 USD
CY2021Q1 anet Available For Sale Securities Debt Maturities Year One Through Two Fair Value
AvailableForSaleSecuritiesDebtMaturitiesYearOneThroughTwoFairValue
937344000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
2184330000 USD
CY2021Q1 anet Marketable Securities Weighted Average Remaining Life
MarketableSecuritiesWeightedAverageRemainingLife
P0Y10M24D
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
897454000 USD
CY2021Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
385204000 USD
CY2020Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
394037000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
549000 USD
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
659000 USD
CY2021Q1 anet Product Return Reserve Current
ProductReturnReserveCurrent
4189000 USD
CY2020Q4 anet Product Return Reserve Current
ProductReturnReserveCurrent
3838000 USD
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
380466000 USD
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
389540000 USD
CY2021Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
234941000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
219218000 USD
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
248227000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
260450000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
483168000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
479668000 USD
CY2021Q1 anet Inventory Deposit Current
InventoryDepositCurrent
21478000 USD
CY2020Q4 anet Inventory Deposit Current
InventoryDepositCurrent
18783000 USD
CY2021Q1 us-gaap Prepaid Taxes
PrepaidTaxes
3612000 USD
CY2020Q4 us-gaap Prepaid Taxes
PrepaidTaxes
267000 USD
CY2021Q1 us-gaap Other Assets Current
OtherAssetsCurrent
69790000 USD
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
60556000 USD
CY2021Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
16715000 USD
CY2020Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
15316000 USD
CY2021Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
111595000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
94922000 USD
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
152364000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
147412000 USD
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
119902000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
115181000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32462000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32231000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
4900000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
5200000 USD
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
42670000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
73634000 USD
CY2021Q1 anet Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
43420000 USD
CY2020Q4 anet Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
43181000 USD
CY2021Q1 anet Accrued Product Development Costs Current
AccruedProductDevelopmentCostsCurrent
15084000 USD
CY2020Q4 anet Accrued Product Development Costs Current
AccruedProductDevelopmentCostsCurrent
6733000 USD
CY2021Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
10043000 USD
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
9314000 USD
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
11249000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10495000 USD
CY2021Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
122466000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
143357000 USD
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
9314000 USD
CY2019Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
6742000 USD
CY2021Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
3456000 USD
CY2020Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1070000 USD
CY2021Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
10043000 USD
CY2021Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2727000 USD
CY2020Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1471000 USD
CY2020Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
6341000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
16380000 USD
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
25565000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9762000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9636000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
85957000 USD
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
61050000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
7913000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4847000 USD
CY2021Q1 anet Contract With Customer Liability Beginning Balance Reclassified To Deferred Revenue
ContractWithCustomerLiabilityBeginningBalanceReclassifiedToDeferredRevenue
12492000 USD
CY2020Q1 anet Contract With Customer Liability Beginning Balance Reclassified To Deferred Revenue
ContractWithCustomerLiabilityBeginningBalanceReclassifiedToDeferredRevenue
2433000 USD
CY2021Q1 anet Contract With Customer Liability Contract Liabilities Recognized
ContractWithCustomerLiabilityContractLiabilitiesRecognized
14913000 USD
CY2020Q1 anet Contract With Customer Liability Contract Liabilities Recognized
ContractWithCustomerLiabilityContractLiabilitiesRecognized
10555000 USD
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.20
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
80465000 USD
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
64325000 USD
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
650827000 USD
CY2019Q4 us-gaap Deferred Revenue
DeferredRevenue
575288000 USD
CY2021Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
107442000 USD
CY2020Q1 us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
100377000 USD
CY2021Q1 us-gaap Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
176646000 USD
CY2020Q1 us-gaap Deferred Revenue Period Increase Decrease
DeferredRevenuePeriodIncreaseDecrease
121864000 USD
CY2021Q1 us-gaap Deferred Revenue
DeferredRevenue
720031000 USD
CY2020Q1 us-gaap Deferred Revenue
DeferredRevenue
596775000 USD
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
972200000 USD
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.80
CY2021Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P2Y
CY2021Q1 us-gaap Interest Income Other
InterestIncomeOther
2045000 USD
CY2020Q1 us-gaap Interest Income Other
InterestIncomeOther
11662000 USD
CY2021Q1 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
-470000 USD
CY2020Q1 us-gaap Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
495000 USD
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1575000 USD
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
12157000 USD
CY2021Q1 anet Equity Securities Without Readily Determinable Fair Value Initial Costs
EquitySecuritiesWithoutReadilyDeterminableFairValueInitialCosts
5000000 USD
CY2020Q4 anet Equity Securities Without Readily Determinable Fair Value Initial Costs
EquitySecuritiesWithoutReadilyDeterminableFairValueInitialCosts
3000000 USD
CY2021Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
10314000 USD
CY2021Q1 anet Restricted Deposits Assets
RestrictedDepositsAssets
24200000 USD
CY2020Q4 anet Restricted Deposits Assets
RestrictedDepositsAssets
21500000 USD
CY2021Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Downward Price Adjustment Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentCumulativeAmount
0 USD
CY2020Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Downward Price Adjustment Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueDownwardPriceAdjustmentCumulativeAmount
0 USD
CY2021Q1 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentCumulativeAmount
5314000 USD
CY2020Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Cumulative Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueUpwardPriceAdjustmentCumulativeAmount
5314000 USD
CY2020Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
8314000 USD
CY2020Q1 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0 USD
CY2021Q1 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
0 USD
CY2020Q1 us-gaap Equity Securities Fv Ni Unrealized Gain Loss
EquitySecuritiesFvNiUnrealizedGainLoss
0 USD
CY2021Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
747600000 USD
CY2019Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000.0 USD
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
237300000 USD
CY2021Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
101355000 USD
CY2021Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
367000 shares
CY2021Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
275.88
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3430000 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
45.17
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y7M6D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
841659000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
263000 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
29.57
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
12000 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
36.08
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3155000 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
46.51
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y4M24D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
805597000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2169000 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
34.55
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
579805000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37553000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27556000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
414500000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
180366000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
138431000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76306000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76264000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3279000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3675000 shares
CY2021Q1 anet Incremental Common Shares Attributable To Dilutive Effect Of Employee Stock Purchase Plan
IncrementalCommonSharesAttributableToDilutiveEffectOfEmployeeStockPurchasePlan
38000 shares
CY2020Q1 anet Incremental Common Shares Attributable To Dilutive Effect Of Employee Stock Purchase Plan
IncrementalCommonSharesAttributableToDilutiveEffectOfEmployeeStockPurchasePlan
0 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79623000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79939000 shares
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.36
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.82
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.27
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.73
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
140000 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
601000 shares
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32462000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32231000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
667562000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
523029000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
207867000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
161819000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
27501000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23388000 USD
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.132
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.145
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment

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