| Financial Statement Components |
FINANCIAL STATEMENT COMPONENTS
Consolidated Balance Sheets
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As of June 30, |
(In thousands) |
2013 |
|
2012 |
Accounts receivable, net: |
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Accounts receivable, gross |
$ |
546,745 |
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|
$ |
723,607 |
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Allowance for doubtful accounts |
(22,135 |
) |
|
(22,327 |
) |
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$ |
524,610 |
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$ |
701,280 |
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Inventories: |
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Customer service parts |
$ |
180,749 |
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$ |
197,013 |
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Raw materials |
229,233 |
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|
234,549 |
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Work-in-process |
176,704 |
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|
170,254 |
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Finished goods |
47,762 |
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|
48,986 |
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$ |
634,448 |
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$ |
650,802 |
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Other current assets: |
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Prepaid expenses |
$ |
31,997 |
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$ |
53,472 |
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Income tax related receivables |
25,825 |
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|
22,943 |
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Other current assets |
17,217 |
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|
16,432 |
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$ |
75,039 |
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$ |
92,847 |
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Land, property and equipment, net: |
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Land |
$ |
41,850 |
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$ |
41,397 |
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Buildings and leasehold improvements |
272,920 |
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|
244,807 |
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Machinery and equipment |
476,747 |
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443,668 |
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Office furniture and fixtures |
20,701 |
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19,493 |
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Construction-in-process |
16,604 |
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11,765 |
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828,822 |
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|
761,130 |
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Less: accumulated depreciation and amortization |
(523,541 |
) |
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(483,444 |
) |
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$ |
305,281 |
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$ |
277,686 |
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Other non-current assets: |
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Executive Deferred Savings Plan(1)
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$ |
136,461 |
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$ |
125,354 |
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Deferred tax assets—long-term |
114,833 |
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|
128,738 |
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Other |
18,129 |
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|
21,135 |
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$ |
269,423 |
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$ |
275,227 |
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Other current liabilities: |
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Warranty |
$ |
42,603 |
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$ |
46,496 |
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Executive Deferred Savings Plan(1)
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137,849 |
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|
125,329 |
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Compensation and benefits |
195,793 |
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|
175,007 |
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Income taxes payable |
11,076 |
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|
11,251 |
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Interest payable |
8,769 |
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|
8,769 |
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Other accrued expenses |
130,959 |
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|
146,559 |
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$ |
527,049 |
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$ |
513,411 |
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Accumulated other comprehensive income (loss): |
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Currency translation adjustments, net of taxes of $1,085 in 2013 and $335 in 2012 |
$ |
(22,467 |
) |
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$ |
(10,419 |
) |
Gains (losses) on cash flow hedging instruments, net of taxes (benefits) of $890 in 2013 and $(343) in 2012 |
1,594 |
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(619 |
) |
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Unrealized gains (losses) on investments, net of taxes (benefits) of $(329) in 2013 and $1,498 in 2012 |
(602 |
) |
|
2,811 |
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Unrealized losses of defined benefit pension plan, net of tax benefits of $(8,769) in 2013 and $(4,752) in 2012 |
(15,171 |
) |
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(12,916 |
) |
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$ |
(36,646 |
) |
|
$ |
(21,143 |
) |
__________________
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(1) |
KLA-Tencor has a non-qualified deferred compensation plan whereby certain executives and non-employee directors may defer a portion of their compensation. Participants are credited with returns based on their allocation of their account balances among measurement funds. The Company controls the investment of these funds, and the participants remain general creditors of KLA-Tencor. Distributions from the plan commence the quarter following a participant’s retirement or termination of employment, except in cases where such distributions are required to be delayed in order to avoid a prohibited distribution under Internal Revenue Code Section 409A. As of June 30, 2013, the Company had a deferred compensation plan related asset and liability included as a component of other non-current assets and other current liabilities on the Consolidated Balance Sheet.
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Consolidated Statements of Operations
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Year ended June 30, |
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(In thousands) |
2013 |
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2012 |
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2011 |
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Interest income and other, net: |
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Interest income |
$ |
14,976 |
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$ |
15,321 |
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$ |
15,513 |
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Foreign exchange losses, net |
(1,002 |
) |
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(2,864 |
) |
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(2,108 |
) |
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Net realized gains on sale of investments |
2,287 |
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|
637 |
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2,479 |
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Other |
(1,149 |
) |
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(1,128 |
) |
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(11,820 |
) |
(1) |
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$ |
15,112 |
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$ |
11,966 |
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$ |
4,064 |
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__________________
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(1) |
Includes impairment charges of $9.9 million recorded during the fiscal year ended June 30, 2011 for equity investments in privately-held companies.
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