2022 Q4 Form 10-Q Financial Statement

#000156459022036763 Filed on November 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q4
Revenue $249.6M
YoY Change -13.98%
Cost Of Revenue $181.1M
YoY Change -10.94%
Gross Profit $68.53M
YoY Change -21.09%
Gross Profit Margin 27.46%
Selling, General & Admin $48.15M
YoY Change -0.99%
% of Gross Profit 70.27%
Research & Development $22.17M
YoY Change -5.56%
% of Gross Profit 32.35%
Depreciation & Amortization $2.447M
YoY Change -19.53%
% of Gross Profit 3.57%
Operating Expenses $70.32M
YoY Change -2.77%
Operating Profit -$1.790M
YoY Change -112.33%
Interest Expense -$52.00K
YoY Change -68.67%
% of Operating Profit
Other Income/Expense, Net $690.0K
YoY Change 1929.41%
Pretax Income -$1.513M
YoY Change -111.84%
Income Tax -$4.314M
% Of Pretax Income
Net Earnings $2.801M
YoY Change -70.77%
Net Earnings / Revenue 1.12%
Basic Earnings Per Share $0.10
Diluted Earnings Per Share $96.49K
COMMON SHARES
Basic Shares Outstanding 28.89M
Diluted Shares Outstanding 29.03M

Balance Sheet

Concept 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $233.2M
YoY Change -20.19%
Cash & Equivalents $132.9M
Short-Term Investments $100.3M
Other Short-Term Assets $38.85M
YoY Change 7.47%
Inventory $298.1M
Prepaid Expenses
Receivables $259.9M
Other Receivables $0.00
Total Short-Term Assets $830.0M
YoY Change -6.01%
LONG-TERM ASSETS
Property, Plant & Equipment $47.60M
YoY Change 256.96%
Goodwill $36.28M
YoY Change -55.06%
Intangibles $1.457M
YoY Change -21.5%
Long-Term Investments $7.749M
YoY Change -2.11%
Other Assets $89.84M
YoY Change 17.66%
Total Long-Term Assets $175.2M
YoY Change -10.37%
TOTAL ASSETS
Total Short-Term Assets $830.0M
Total Long-Term Assets $175.2M
Total Assets $1.005B
YoY Change -6.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.43M
YoY Change 18.59%
Accrued Expenses $222.6M
YoY Change -0.89%
Deferred Revenue $19.29M
YoY Change 16.93%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $330.4M
YoY Change -3.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $51.89M
YoY Change 1567.54%
Total Long-Term Liabilities $51.89M
YoY Change 1567.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $330.4M
Total Long-Term Liabilities $51.89M
Total Liabilities $382.3M
YoY Change 0.15%
SHAREHOLDERS EQUITY
Retained Earnings -$318.6M
YoY Change 40.62%
Common Stock $29.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $622.9M
YoY Change
Total Liabilities & Shareholders Equity $1.005B
YoY Change -6.8%

Cashflow Statement

Concept 2022 Q4
OPERATING ACTIVITIES
Net Income $2.801M
YoY Change -70.77%
Depreciation, Depletion And Amortization $2.447M
YoY Change -19.53%
Cash From Operating Activities -$15.25M
YoY Change -10.37%
INVESTING ACTIVITIES
Capital Expenditures -$2.096M
YoY Change -11.26%
Acquisitions
YoY Change
Other Investing Activities $579.0K
YoY Change -407.98%
Cash From Investing Activities -$1.517M
YoY Change -40.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.791M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 641.0K
YoY Change -102.45%
NET CHANGE
Cash From Operating Activities -15.25M
Cash From Investing Activities -1.517M
Cash From Financing Activities 641.0K
Net Change In Cash -16.12M
YoY Change -64.7%
FREE CASH FLOW
Cash From Operating Activities -$15.25M
Capital Expenditures -$2.096M
Free Cash Flow -$13.15M
YoY Change -10.22%

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ntgr Unrealized Losses On Available For Sale Securities Recognized In Income
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ntgr Unrealized Losses On Available For Sale Securities Recognized In Income
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AccountsReceivableNetCurrent
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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ntgr Unrealized Losses On Available For Sale Securities Recognized In Income
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us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
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us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
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us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
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CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
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CY2021Q4 us-gaap Inventory Finished Goods Net Of Reserves
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InventoryNet
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InventoryNet
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InventoryWriteDown
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us-gaap Inventory Write Down
InventoryWriteDown
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InventoryWriteDown
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InventoryWriteDown
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CY2022Q4 us-gaap Goodwill
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CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
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EquitySecuritiesWithoutReadilyDeterminableFairValueAmountAdditionsFromPurchaseOfInvestments
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ntgr Equity Securities Without Readily Determinable Fair Value Amount Disposal
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AmortizationOfIntangibleAssets
100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000
us-gaap Amortization Of Intangible Assets
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us-gaap Impairment Of Intangible Assets Excluding Goodwill
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us-gaap Impairment Of Intangible Assets Excluding Goodwill
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us-gaap Impairment Of Intangible Assets Excluding Goodwill
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CY2021Q4 us-gaap Other Assets Noncurrent
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76350000
us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
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549000
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
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CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
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CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Upward Price Adjustment Cumulative Amount
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400000
CY2022Q4 us-gaap Operating Lease Liability Current
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94234000
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6144000
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
6861000
CY2022Q4 us-gaap Contract With Customer Refund Liability Current
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40241000
CY2021Q4 us-gaap Contract With Customer Refund Liability Current
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42869000
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CY2021Q4 ntgr Accrued Freight Charges
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CY2022Q4 us-gaap Accrued Liabilities Current
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CY2022Q4 ntgr Inventory Expected To Be Received From Future Sales Returns
InventoryExpectedToBeReceivedFromFutureSalesReturns
19800000
CY2021Q4 ntgr Inventory Expected To Be Received From Future Sales Returns
InventoryExpectedToBeReceivedFromFutureSalesReturns
21800000
CY2022Q4 ntgr Provisions To Write Down Expected Returned Inventory To Net Realizable Value
ProvisionsToWriteDownExpectedReturnedInventoryToNetRealizableValue
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CY2021Q4 ntgr Provisions To Write Down Expected Returned Inventory To Net Realizable Value
ProvisionsToWriteDownExpectedReturnedInventoryToNetRealizableValue
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CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2828000
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
1372000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
459000
CY2022Q4 us-gaap Profit Loss
ProfitLoss
2801000
us-gaap Profit Loss
ProfitLoss
9584000
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
50378000
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28891000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q4 us-gaap Income Tax Expense Benefit
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CY2022Q4 us-gaap Effective Income Tax Rate Continuing Operations
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IncomeTaxExpenseBenefit
15400000
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0.234
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CY2022Q4 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
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CY2022Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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CY2022Q4 ntgr Additional Purchase Orders Beyond Contractual Termination Periods
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CY2022Q4 ntgr Loss Incurred Related To Purchase Commitments
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LossIncurredRelatedToPurchaseCommitments
4600000
ntgr Loss Incurred Related To Purchase Commitments
LossIncurredRelatedToPurchaseCommitments
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CY2022Q3 us-gaap Product Warranty Accrual
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6523000
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CY2022Q1 us-gaap Product Warranty Accrual
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CY2021Q1 us-gaap Product Warranty Accrual
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CY2022Q4 us-gaap Product Warranty Accrual Warranties Issued
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1052000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1258000
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ProductWarrantyAccrualWarrantiesIssued
3706000
us-gaap Product Warranty Accrual Warranties Issued
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3019000
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ProductWarrantyAccrualPayments
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us-gaap Product Warranty Accrual Payments
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CY2022Q4 us-gaap Product Warranty Accrual
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CY2021Q4 us-gaap Product Warranty Accrual
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CY2022Q4 us-gaap Product Warranty Accrual
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CY2021Q4 us-gaap Product Warranty Accrual
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CY2022Q4 ntgr Number Of Existing Cases And Proceedings That Company Currently Believes Are Liking To Have Material Adverse Effect On Its Financial Position
NumberOfExistingCasesAndProceedingsThatCompanyCurrentlyBelievesAreLikingToHaveMaterialAdverseEffectOnItsFinancialPosition
0
ntgr Future Length Company Currently Considered Regarding Existing Cases And Proceedings That Are Likely To Have Material Adverse Effect On It In Months
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P12M
us-gaap Stock Repurchased And Retired During Period Shares
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StockRepurchasedAndRetiredDuringPeriodShares
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us-gaap Stock Repurchased And Retired During Period Value
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CY2022Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
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us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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22000
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
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154000
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727000
us-gaap Reclassification From Aoci Current Period Tax
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263000
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991000
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-109000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-264000
CY2022Q4 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
-87000
CY2020Q4 us-gaap Aoci Tax Attributable To Parent
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-9000
us-gaap Other Comprehensive Income Loss Before Reclassifications Tax
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us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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-228000
us-gaap Other Comprehensive Income Loss Tax Portion Attributable To Parent1
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7000
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46000
CY2021Q4 us-gaap Aoci Tax Attributable To Parent
AociTaxAttributableToParent
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CY2022Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3440000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6210000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13266000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20072000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
249587000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
290150000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
683369000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
916886000
CY2022Q4 ntgr Segment Contribution Income
SegmentContributionIncome
23171000
ntgr Segment Contribution Income
SegmentContributionIncome
39695000
ntgr Segment Contribution Income
SegmentContributionIncome
50811000
ntgr Segment Contribution Income
SegmentContributionIncome
151020000
CY2022Q4 ntgr Corporate And Unallocated Income
CorporateAndUnallocatedIncome
21392000
ntgr Corporate And Unallocated Income
CorporateAndUnallocatedIncome
20203000
ntgr Corporate And Unallocated Income
CorporateAndUnallocatedIncome
62532000
ntgr Corporate And Unallocated Income
CorporateAndUnallocatedIncome
62744000
CY2022Q4 ntgr Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
129000
ntgr Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
145000
ntgr Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
386000
ntgr Amortization Of Intangible Asset
AmortizationOfIntangibleAsset
1768000
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
3440000
us-gaap Share Based Compensation
ShareBasedCompensation
6210000
us-gaap Share Based Compensation
ShareBasedCompensation
13266000
us-gaap Share Based Compensation
ShareBasedCompensation
20072000
CY2022Q4 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
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CY2022Q4 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022Q4 ntgr Restructuring And Other Charges
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361000
ntgr Restructuring And Other Charges
RestructuringAndOtherCharges
222000
ntgr Restructuring And Other Charges
RestructuringAndOtherCharges
911000
ntgr Restructuring And Other Charges
RestructuringAndOtherCharges
3378000
CY2022Q4 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
0
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-20000
us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-315000
CY2022Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
638000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-132000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1164000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15000
CY2022Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
12783000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
65761000
CY2022Q4 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
3400000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
6900000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
1800000
us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
2900000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
249587000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
290150000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
683369000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
47601000
CY2021Q4 us-gaap Noncurrent Assets
NoncurrentAssets
36511000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
118231000
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
459000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
117902000
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
344000

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