| Balance Sheet Components |
FINANCIAL STATEMENT COMPONENTS
Balance Sheet Components
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|
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|
(In thousands) |
As of
September 30, 2013 |
|
As of
June 30, 2013 |
Accounts receivable, net: |
|
|
|
Accounts receivable, gross |
$ |
462,766 |
|
|
$ |
546,745 |
|
Allowance for doubtful accounts |
(22,092 |
) |
|
(22,135 |
) |
|
$ |
440,674 |
|
|
$ |
524,610 |
|
Inventories: |
|
|
|
Customer service parts |
$ |
182,560 |
|
|
$ |
180,749 |
|
Raw materials |
254,902 |
|
|
229,233 |
|
Work-in-process |
170,104 |
|
|
176,704 |
|
Finished goods |
52,710 |
|
|
47,762 |
|
|
$ |
660,276 |
|
|
$ |
634,448 |
|
Other current assets: |
|
|
|
Prepaid expenses |
$ |
37,146 |
|
|
$ |
31,997 |
|
Prepaid income taxes |
57,764 |
|
|
25,825 |
|
Other current assets |
15,554 |
|
|
17,217 |
|
|
$ |
110,464 |
|
|
$ |
75,039 |
|
Land, property and equipment, net: |
|
|
|
Land |
$ |
41,834 |
|
|
$ |
41,850 |
|
Buildings and leasehold improvements |
276,893 |
|
|
272,920 |
|
Machinery and equipment |
487,874 |
|
|
476,747 |
|
Office furniture and fixtures |
20,837 |
|
|
20,701 |
|
Construction-in-process |
19,324 |
|
|
16,604 |
|
|
846,762 |
|
|
828,822 |
|
Less: accumulated depreciation and amortization |
(526,925 |
) |
|
(523,541 |
) |
|
$ |
319,837 |
|
|
$ |
305,281 |
|
Other non-current assets: |
|
|
|
Executive Deferred Savings Plan(1)
|
$ |
147,926 |
|
|
$ |
136,461 |
|
Deferred tax assets – long-term |
87,573 |
|
|
114,833 |
|
Other |
16,900 |
|
|
18,129 |
|
|
$ |
252,399 |
|
|
$ |
269,423 |
|
Other current liabilities: |
|
|
|
Warranty |
$ |
37,314 |
|
|
$ |
42,603 |
|
Executive Deferred Savings Plan(1)
|
148,282 |
|
|
137,849 |
|
Compensation and benefits |
156,418 |
|
|
195,793 |
|
Income taxes payable |
14,141 |
|
|
11,076 |
|
Interest payable |
21,706 |
|
|
8,769 |
|
Other accrued expenses |
122,239 |
|
|
130,959 |
|
|
$ |
500,100 |
|
|
$ |
527,049 |
|
________________
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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 September 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 Condensed Consolidated Balance Sheet.
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Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss) (“AOCI”) as of the dates indicated below were as follows:
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|
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|
(In thousands) |
Currency Translation Adjustments |
|
Unrealized Gains (Losses) on Available-for-Sale Investments |
|
Unrealized Gains (Losses) on Cash Flow Hedges |
|
Unrealized Gains (Losses) on Defined Benefit Plans |
|
Total |
Balance as of June 30, 2013 |
$ |
(22,467 |
) |
|
$ |
(602 |
) |
|
$ |
1,594 |
|
|
$ |
(15,171 |
) |
|
$ |
(36,646 |
) |
Other comprehensive income (loss) before reclassifications |
5,110 |
|
|
4,139 |
|
|
(291 |
) |
|
313 |
|
|
9,271 |
|
Amounts reclassified from AOCI |
— |
|
|
(234 |
) |
|
(2,516 |
) |
|
— |
|
|
(2,750 |
) |
Taxes (benefits) |
(1,315 |
) |
|
(1,342 |
) |
|
1,005 |
|
|
(114 |
) |
|
(1,766 |
) |
Other comprehensive income (loss) |
3,795 |
|
|
2,563 |
|
|
(1,802 |
) |
|
199 |
|
|
4,755 |
|
Balance as of September 30, 2013 |
$ |
(18,672 |
) |
|
$ |
1,961 |
|
|
$ |
(208 |
) |
|
$ |
(14,972 |
) |
|
$ |
(31,891 |
) |
The effects on net income of amounts reclassified from AOCI for the three months ended September 30, 2013 were as follows (in thousands):
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AOCI Components |
|
Location |
|
Amounts Reclassified from AOCI to the Consolidated Statement of Operations |
Gains on cash flow hedges from foreign exchange contracts |
|
Revenues |
|
$ |
2,450 |
|
|
|
Costs of revenues |
|
66 |
|
|
|
Total before tax |
|
2,516 |
|
Unrealized gains on available-for-sale investments |
|
Interest income and other, net |
|
234 |
|
Total amount reclassified from AOCI |
|
|
|
$ |
2,750 |
|
|