| Balance Sheet Components |
Balance Sheet Components
|
|
|
|
|
|
|
|
|
(In thousands) |
As of
September 30, 2017 |
|
As of
June 30, 2017 |
Accounts receivable, net: |
|
|
|
Accounts receivable, gross |
$ |
678,423 |
|
|
$ |
592,753 |
|
Allowance for doubtful accounts |
(11,685 |
) |
|
(21,636 |
) |
|
$ |
666,738 |
|
|
$ |
571,117 |
|
Inventories: |
|
|
|
Customer service parts |
$ |
240,957 |
|
|
$ |
245,172 |
|
Raw materials |
248,340 |
|
|
240,389 |
|
Work-in-process |
210,514 |
|
|
193,026 |
|
Finished goods |
62,590 |
|
|
54,401 |
|
|
$ |
762,401 |
|
|
$ |
732,988 |
|
Other current assets: |
|
|
|
Prepaid expenses |
$ |
43,403 |
|
|
$ |
36,146 |
|
Income tax related receivables |
20,340 |
|
|
22,071 |
|
Other current assets |
10,130 |
|
|
13,004 |
|
|
$ |
73,873 |
|
|
$ |
71,221 |
|
Land, property and equipment, net: |
|
|
|
Land |
$ |
40,613 |
|
|
$ |
40,617 |
|
Buildings and leasehold improvements |
321,935 |
|
|
319,306 |
|
Machinery and equipment |
555,666 |
|
|
551,277 |
|
Office furniture and fixtures |
21,674 |
|
|
21,328 |
|
Construction-in-process |
6,590 |
|
|
4,597 |
|
|
946,478 |
|
|
937,125 |
|
Less: accumulated depreciation and amortization |
(666,606 |
) |
|
(653,150 |
) |
|
$ |
279,872 |
|
|
$ |
283,975 |
|
Other non-current assets: |
|
|
|
Executive Deferred Savings Plan(1)
|
$ |
187,785 |
|
|
$ |
182,150 |
|
Other non-current assets |
13,502 |
|
|
13,526 |
|
|
$ |
201,287 |
|
|
$ |
195,676 |
|
Other current liabilities: |
|
|
|
Compensation and benefits |
$ |
241,746 |
|
|
$ |
172,707 |
|
Executive Deferred Savings Plan(1)
|
187,957 |
|
|
183,603 |
|
Other accrued expenses |
127,017 |
|
|
116,039 |
|
Customer credits and advances |
122,486 |
|
|
95,188 |
|
Warranty |
46,439 |
|
|
45,458 |
|
Interest payable |
46,217 |
|
|
19,396 |
|
Income taxes payable |
34,774 |
|
|
17,040 |
|
|
$ |
806,636 |
|
|
$ |
649,431 |
|
Other non-current liabilities: |
|
|
|
Pension liabilities |
$ |
74,524 |
|
|
$ |
72,801 |
|
Income taxes payable |
71,474 |
|
|
68,439 |
|
Other non-current liabilities |
29,106 |
|
|
31,167 |
|
|
$ |
175,104 |
|
|
$ |
172,407 |
|
________________
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|
(1) |
KLA-Tencor has a non-qualified deferred compensation plan (known as “Executive Deferred Savings Plan”) under which 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 the Company. The Company invests these funds in certain mutual funds and such investments are classified as trading securities in the condensed consolidated balance sheets. Distributions from the Executive Deferred Savings Plan commence following a participant’s retirement or termination of employment or on a specified date allowed per the Executive Deferred Savings Plan provisions, except in cases where such distributions are required to be delayed in order to avoid a prohibited distribution under Internal Revenue Code Section 409A. Participants can generally elect the distributions to be paid in lump sum or quarterly cash payments over a scheduled period for up to 15 years and are allowed to make subsequent changes to their existing elections as permissible under the Executive Deferred Savings Plan provisions. Changes in the Executive Deferred Savings Plan liability are recorded in selling, general and administrative expense in the condensed consolidated statements of operations. The expense associated with changes in the liability included in selling, general and administrative expense was $6.8 million and $5.8 million during the three months ended September 30, 2017 and 2016, respectively. Changes in the Executive Deferred Savings Plan assets are recorded as gains (losses), net in selling, general and administrative expense in the condensed consolidated statements of operations. The amount of net gains included in selling, general and administrative expense was $6.9 million and $5.9 million during the three months ended September 30, 2017 and 2016, respectively.
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