| Schedule of Impact of ASC 606 to the Condensed Consolidated Financial Statements |
The following table, including the results from the acquisition of Orbotech, summarizes the effects of adopting ASC 606 on our condensed consolidated balance sheet as of March 31, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2019 (In thousands) |
As reported under
ASC 606
|
|
Prior to
adoption of
ASC 606
|
|
Effect of changes |
ASSETS |
|
|
|
|
|
Accounts receivable, net |
$ |
958,021 |
|
|
$ |
1,064,002 |
|
|
$ |
(105,981 |
) |
Other current assets |
270,079 |
|
|
130,172 |
|
|
139,907 |
|
Deferred income taxes |
205,820 |
|
|
197,392 |
|
|
8,428 |
|
LIABILITIES |
|
|
|
|
|
Deferred system revenue |
$ |
228,745 |
|
|
$ |
— |
|
|
$ |
228,745 |
|
Deferred service revenue |
182,119 |
|
|
97,190 |
|
|
84,929 |
|
Deferred system profit |
— |
|
|
323,107 |
|
|
(323,107 |
) |
Other current liabilities |
833,747 |
|
|
866,870 |
|
|
(33,123 |
) |
Deferred service revenue, non-current |
90,610 |
|
|
82,176 |
|
|
8,434 |
|
STOCKHOLDERS’ EQUITY
|
|
|
|
|
|
Retained earnings |
$ |
928,086 |
|
|
$ |
851,740 |
|
|
$ |
76,346 |
|
Accumulated other comprehensive income (loss) |
(68,907 |
) |
|
(69,038 |
) |
|
131 |
|
The following table, including the results from the acquisition of Orbotech, summarizes the effects of adopting ASC 606 on our condensed consolidated statements of operations for the three months ended March 31, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended March 31, 2019 (In thousands, except per share amounts) |
As reported under
ASC 606
|
|
Prior to
adoption of
ASC 606
|
|
Effect of changes |
Revenues: |
|
|
|
|
|
Product |
$ |
793,224 |
|
|
$ |
854,393 |
|
|
$ |
(61,169 |
) |
Service |
304,087 |
|
|
266,333 |
|
|
37,754 |
|
Costs and expenses: |
|
|
|
|
|
Costs of revenues |
486,945 |
|
|
499,209 |
|
|
(12,264 |
) |
Other expense (income), net |
(9,282 |
) |
|
(9,041 |
) |
|
(241 |
) |
Provision for income taxes |
28,745 |
|
|
29,755 |
|
|
(1,010 |
) |
Net income attributable to KLA-Tencor |
192,728 |
|
|
202,627 |
|
|
(9,899 |
) |
Net income per share attributable to KLA-Tencor |
|
|
|
|
|
Basic |
$ |
1.23 |
|
|
$ |
1.30 |
|
|
$ |
(0.07 |
) |
Diluted |
$ |
1.23 |
|
|
$ |
1.29 |
|
|
$ |
(0.06 |
) |
The following table, including the results from the acquisition of Orbotech, summarizes the effects of adopting ASC 606 on our condensed consolidated statements of operations for the nine months ended March 31, 2019:
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine months ended March 31, 2019 (In thousands, except per share amounts) |
As reported under
ASC 606
|
|
Prior to
adoption of
ASC 606
|
|
Effect of changes |
Revenues: |
|
|
|
|
|
Product |
$ |
2,474,652 |
|
|
$ |
2,430,481 |
|
|
$ |
44,171 |
|
Service |
835,817 |
|
|
726,976 |
|
|
108,841 |
|
Costs and expenses: |
|
|
|
|
|
Costs of revenues |
1,276,592 |
|
|
1,233,999 |
|
|
42,593 |
|
Other expense (income), net |
(28,535 |
) |
|
(28,253 |
) |
|
(282 |
) |
Provision for income taxes |
107,232 |
|
|
94,090 |
|
|
13,142 |
|
Net income attributable to KLA-Tencor |
957,772 |
|
|
860,212 |
|
|
97,560 |
|
Net income per share attributable to KLA-Tencor: |
|
|
|
|
|
Basic |
$ |
6.20 |
|
|
$ |
5.57 |
|
|
$ |
0.63 |
|
Diluted |
$ |
6.17 |
|
|
$ |
5.54 |
|
|
$ |
0.63 |
|
|
| Schedule of Contract Balances |
Contract Balances
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
As of |
|
|
|
|
(In thousands, except for percentage) |
March 31, 2019 |
|
July 1, 2018 |
|
$ Change |
|
% Change |
Accounts receivable, net |
$ |
958,021 |
|
|
$ |
635,878 |
|
|
$ |
322,143 |
|
|
51 |
% |
Contract assets |
$ |
91,518 |
|
|
$ |
14,727 |
|
|
$ |
76,791 |
|
|
521 |
% |
Contract liabilities |
$ |
501,474 |
|
|
$ |
556,691 |
|
|
$ |
(55,217 |
) |
|
(10 |
)% |
|