| Balance Sheet Components |
Consolidated Balance Sheets
|
|
|
|
|
|
|
|
|
(In thousands) |
As of
March 31, 2019 |
|
As of
June 30, 2018 |
Accounts receivable, net: |
|
|
|
Accounts receivable, gross |
$ |
970,291 |
|
|
$ |
663,317 |
|
Allowance for doubtful accounts |
(12,270 |
) |
|
(11,639 |
) |
|
$ |
958,021 |
|
|
$ |
651,678 |
|
Inventories: |
|
|
|
Customer service parts |
$ |
337,720 |
|
|
$ |
253,639 |
|
Raw materials |
466,133 |
|
|
331,065 |
|
Work-in-process |
314,480 |
|
|
280,208 |
|
Finished goods |
198,927 |
|
|
66,933 |
|
|
$ |
1,317,260 |
|
|
$ |
931,845 |
|
Other current assets: |
|
|
|
Contract assets |
$ |
91,518 |
|
|
$ |
— |
|
Deferred costs of revenue(1)
|
48,389 |
|
|
— |
|
Prepaid expenses |
76,507 |
|
|
47,088 |
|
Prepaid income and other taxes |
34,479 |
|
|
23,452 |
|
Other current assets |
19,186 |
|
|
14,619 |
|
|
$ |
270,079 |
|
|
$ |
85,159 |
|
Land, property and equipment, net: |
|
|
|
Land |
$ |
41,422 |
|
|
$ |
40,599 |
|
Buildings and leasehold improvements |
389,270 |
|
|
335,647 |
|
Machinery and equipment |
662,025 |
|
|
577,077 |
|
Office furniture and fixtures |
28,475 |
|
|
22,171 |
|
Construction-in-process |
27,766 |
|
|
9,180 |
|
|
1,148,958 |
|
|
984,674 |
|
Less: accumulated depreciation |
(737,106 |
) |
|
(698,368 |
) |
|
$ |
411,852 |
|
|
$ |
286,306 |
|
Other non-current assets: |
|
|
|
Executive Deferred Savings Plan(2)
|
$ |
203,286 |
|
|
$ |
197,213 |
|
Other non-current assets |
56,804 |
|
|
38,869 |
|
|
$ |
260,090 |
|
|
$ |
236,082 |
|
Other current liabilities: |
|
|
|
Compensation and benefits |
$ |
246,429 |
|
|
$ |
173,774 |
|
Executive Deferred Savings Plan(2)
|
204,349 |
|
|
199,505 |
|
Other accrued expenses |
176,677 |
|
|
123,869 |
|
Customer credits and advances |
148,389 |
|
|
116,440 |
|
Interest payable |
44,046 |
|
|
16,947 |
|
Warranty |
6,740 |
|
|
42,258 |
|
Income taxes payable |
7,117 |
|
|
23,287 |
|
|
$ |
833,747 |
|
|
$ |
696,080 |
|
Other non-current liabilities: |
|
|
|
Income taxes payable |
$ |
390,904 |
|
|
$ |
371,665 |
|
Pension liabilities |
67,103 |
|
|
66,786 |
|
Other non-current liabilities |
117,592 |
|
|
54,791 |
|
|
$ |
575,599 |
|
|
$ |
493,242 |
|
|
|
(1) |
Deferred costs of revenue were previously included under deferred system profit prior to the adoption of ASC 606. |
|
|
(2) |
We have a non-qualified deferred compensation plan (known as “Executive Deferred Savings Plan” or “EDSP”) under which certain employees and non-employee directors may defer a portion of their compensation. The expense (benefit) associated with changes in the EDSP liability included in selling, general and administrative expense was $19.3 million and $0.9 million during the three months ended March 31, 2019 and 2018, respectively and was $7.0 million and $14.7 million during the nine months ended March 31, 2019 and 2018, respectively. The amount of net gains (losses) associated with changes in the EDSP assets included in selling, general and administrative expense was $19.7 million and $0.5 million during the three months ended March 31, 2019 and 2018, respectively and was $7.7 million and $14.4 million the nine months ended March 31, 2019 and 2018, respectively. For additional details, refer to Note 1, “Description of Business and Summary of Significant Accounting Policies,” of the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2018.
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