PMC-Sierra, Inc. |
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CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||
(in thousands) | ||||||||||||
(unaudited) | ||||||||||||
March 28, | December 27, | |||||||||||
2015 | 2014 | |||||||||||
ASSETS: | ||||||||||||
Current assets: | ||||||||||||
Cash and cash equivalents | $ | 64,548 | $ | 112,570 | ||||||||
Short-term investments | 45,580 | 45,885 | ||||||||||
Cash, cash equivalents and short-term investments | 110,128 | 158,455 | ||||||||||
Accounts receivable, net | 62,156 | 55,414 | ||||||||||
Inventories, net | 35,685 | 37,949 | ||||||||||
Prepaid expenses and other current assets | 14,348 | 16,473 | ||||||||||
Income taxes receivable | 1,966 | 1,968 | ||||||||||
Prepaid tax expense | - | 51 | ||||||||||
Deferred tax assets | 5,255 | 5,442 | ||||||||||
Total current assets | 229,538 | 275,752 | ||||||||||
Investment securities | 120,052 | 107,509 | ||||||||||
Investments and other assets | 7,332 | 7,683 | ||||||||||
Prepaid tax expense | 93 | 42 | ||||||||||
Property and equipment, net | 37,370 | 37,311 | ||||||||||
Goodwill | 283,239 | 283,239 | ||||||||||
Intangible assets, net | 133,344 | 143,680 | ||||||||||
Deferred tax assets | 13,123 | 13,412 | ||||||||||
Long-term income tax receivable | 465 | 457 | ||||||||||
$ | 824,556 | $ | 869,085 | |||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY: | ||||||||||||
Current liabilities: | ||||||||||||
Accounts payable | $ | 20,357 | $ | 23,360 | ||||||||
Accrued liabilities | 53,788 | 74,135 | ||||||||||
Credit facility | 10,000 | - | ||||||||||
Income taxes payable | 1,109 | 1,062 | ||||||||||
Liability for unrecognized tax benefit | 14,820 | 16,076 | ||||||||||
Deferred tax liabilities | 7,644 | 7,644 | ||||||||||
Deferred income | 3,944 | 4,530 | ||||||||||
Total current liabilities | 111,662 | 126,807 | ||||||||||
Long-term obligations | 25,008 | 36,305 | ||||||||||
Deferred tax liabilities | 54,209 | 53,493 | ||||||||||
Liability for unrecognized tax benefit | 25,768 | 25,244 | ||||||||||
PMC special shares convertible into 205 (2014 - 278) shares of common stock |
480 | 745 | ||||||||||
Stockholders' equity: | ||||||||||||
Common stock and additional paid in capital | 1,603,586 | 1,595,809 | ||||||||||
Accumulated other comprehensive loss | (2,185 | ) | (2,355 | ) | ||||||||
Accumulated deficit | (993,972 | ) | (966,963 | ) | ||||||||
Total stockholders' equity | 607,429 | 626,491 | ||||||||||
$ | 824,556 | $ | 869,085 | |||||||||