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FORMFACTOR, INC.
RECONCILIATION OF CASH PROVIDED FROM OPERATING ACTIVITIES TO FREE CASH FLOW FOR THE THREE MONTHS ENDED DECEMBER 31, 2016 (In thousands) (Unaudited) | ||||||
| Net cash provided from operating activities | $ | 15,170 | ||||
| Adjustments to reconcile GAAP cash provided from operating activities to free cash flow: | ||||||
| Acquisition-related payments in working capital | 2,046 | |||||
| Debt-related interest expense | 1,255 | |||||
| Capital expenditures | (3,304 | ) | ||||
| (3 | ) | (3 | ) | |||
| Free cash flow | $ | 15,167 | ||||
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FORMFACTOR, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) | |||||||
|
December 31,
2016 |
December 26,
2015 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 101,408 | $ | 146,264 | |||
| Marketable securities | 7,497 | 41,325 | |||||
| Accounts receivable, net | 70,225 | 36,725 | |||||
| Inventories, net | 59,806 | 27,223 | |||||
| Restricted cash | 106 | — | |||||
| Refundable income taxes | 1,391 | — | |||||
| Prepaid expenses and other current assets | 14,270 | 6,481 | |||||
| Total current assets | 254,703 | 258,018 | |||||
| Restricted cash | 1,082 | 435 | |||||
| Property, plant and equipment, net | 42,663 | 23,853 | |||||
| Goodwill | 188,010 | 30,731 | |||||
| Intangibles, net | 126,608 | 25,552 | |||||
| Deferred tax assets | 3,310 | 3,281 | |||||
| Other assets | 3,615 | 853 | |||||
| Total assets | $ | 619,991 | $ | 342,723 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 35,084 | $ | 18,072 | |||
| Accrued liabilities | 30,184 | 21,507 | |||||
| Current portion of term loan | 12,701 | — | |||||
| Income taxes payable | 442 | 110 | |||||
| Deferred revenue | 5,305 | 3,892 | |||||
| Total current liabilities | 83,716 | 43,581 | |||||
| Long-term income taxes payable | 1,315 | 1,069 | |||||
| Term loan, less current portion | 125,475 | — | |||||
| Deferred tax liabilities | 3,703 | — | |||||
| Deferred rent and other liabilities | 4,726 | 3,392 | |||||
| Total liabilities | 218,935 | 48,042 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Common stock and capital in excess of par value | 833,412 | 718,962 | |||||
| Accumulated other comprehensive loss | (3,740 | ) | (2,222 | ) | |||
| Accumulated deficit | (428,616 | ) | (422,059 | ) | |||
| Total stockholders’ equity | 401,056 | 294,681 | |||||
| Total liabilities and stockholders’ equity | $ | 619,991 | $ | 342,723 | |||
