CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

At the End of Fiscal Year

2012

2011

Assets

Current assets:

   Cash and cash equivalents

$           157,771

$            154,621

   Accounts receivables, net

323,477

275,201

   Other receivables

17,327

7,103

   Inventories, net

240,529

232,063

   Deferred income taxes

43,473

44,632

   Other current assets

33,396

19,437

      Total current assets

815,973

733,057

Property and equipment, net

96,890

62,724

Goodwill

1,815,699

1,297,692

Other purchased intangible assets, net

644,419

476,791

Other non-current assets

96,123

82,211

      Total assets

$         3,469,104

$         2,652,475

Liabilities 

Current liabilities:

   Current portion of long-term debt

$             38,092

$             65,918

   Accounts payable

124,532

97,956

   Accrued compensation and benefits

86,064

73,894

   Deferred revenue

138,920

105,066

   Accrued warranty expense

17,066

18,444

   Other accrued liabilities

63,996

50,045

      Total current liabilities

468,670

411,323

Non-current portion of long-term debt

873,066

498,518

Non-current deferred revenue

7,262

13,113

Deferred income taxes

148,260

95,594

Other non-current liabilities

58,322

45,025

      Total liabilities

1,555,580

1,063,573

Commitments and contingencies

Equity

Shareholders' equity:

   Common stock

1,006,818

878,514

   Retained earnings

868,026

685,639

   Accumulated other comprehensive income

22,611

5,140

Total Trimble Navigation Ltd. shareholders' equity

1,897,455

1,569,293

Noncontrolling interests 

16,069

19,609

      Total equity

1,913,524

1,588,902

      Total liabilities and equity

$         3,469,104

$         2,652,475