| Balance Sheet Components |
BALANCE SHEET COMPONENTS
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(In thousands) |
As of December 31, 2011 |
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As of June 30, 2011 |
Accounts receivable, net: |
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Accounts receivable, gross |
$ |
566,299 |
|
|
$ |
605,376 |
|
Allowance for doubtful accounts |
(22,201 |
) |
|
(22,106 |
) |
|
$ |
544,098 |
|
|
$ |
583,270 |
|
Inventories, net: |
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Customer service parts |
$ |
172,349 |
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|
$ |
148,466 |
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Raw materials |
212,862 |
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|
235,605 |
|
Work-in-process |
195,532 |
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|
131,804 |
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Finished goods |
58,898 |
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|
59,855 |
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|
$ |
639,641 |
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|
$ |
575,730 |
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Other current assets: |
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Prepaid expenses |
$ |
56,789 |
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$ |
61,796 |
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Income tax related receivables |
11,538 |
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|
59,774 |
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Other current assets |
24,142 |
|
|
25,508 |
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|
$ |
92,469 |
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|
$ |
147,078 |
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Land, property and equipment, net: |
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Land |
$ |
41,418 |
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|
$ |
41,956 |
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Buildings and leasehold improvements |
237,191 |
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|
234,173 |
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Machinery and equipment |
466,092 |
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|
447,772 |
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Office furniture and fixtures |
21,666 |
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|
19,645 |
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Construction in process |
7,810 |
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|
6,979 |
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|
774,177 |
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|
750,525 |
|
Less: accumulated depreciation and amortization |
(506,548 |
) |
|
(493,167 |
) |
|
$ |
267,629 |
|
|
$ |
257,358 |
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Other non-current assets: |
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Executive Deferred Savings Plan(1) |
$ |
122,023 |
|
|
$ |
128,033 |
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Deferred tax assets – long-term |
140,168 |
|
|
173,788 |
|
Other |
24,078 |
|
|
26,274 |
|
|
$ |
286,269 |
|
|
$ |
328,095 |
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Other current liabilities: |
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Warranty |
$ |
43,476 |
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$ |
41,528 |
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Executive Deferred Savings Plan(1) |
121,612 |
|
|
128,088 |
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Compensation and benefits |
127,981 |
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|
186,761 |
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Income taxes payable |
20,078 |
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|
16,364 |
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Interest payable |
8,769 |
|
|
8,769 |
|
Accrued litigation costs |
2,000 |
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|
4,824 |
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Other accrued expenses |
138,117 |
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|
112,980 |
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$ |
462,033 |
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$ |
499,314 |
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________________
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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 December 31, 2011, 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 its Condensed Consolidated Balance Sheet.
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