KLA Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements

Fair Value Measurements

9 Months Ended

2017年3月31日

注2 - 公允价值测量

The Company’s financial assets and liabilities are measured and recorded at fair value, except for certain equity investments in privately-held companies. These equity investments are generally accounted for under the cost method of accounting and are periodically assessed for other-than-temporary impairment when an event or circumstance indicates that an other-than-temporary decline in value may have occurred. The Company’s non-financial assets, such as goodwill, intangible assets, and land, property and equipment, are recorded at cost and are assessed for impairment when an event or circumstance indicates that an other-than-temporary decline in value may have occurred.

Fair Value of Financial Instruments. KLA-Tencor估计公允价值评估of financial instruments using available market information and valuations as provided by third-party sources. The use of different market assumptions and/or estimation methodologies could have a significant effect on the estimated fair value amounts. The fair value of the Company’s cash equivalents, accounts receivable, accounts payable and other current assets and liabilities approximate their carrying amounts due to the relatively short maturity of these items.

Fair Value Hierarchy. The authoritative guidance for fair value measurements establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:



1级		Valuations based on quoted prices in active markets for identical assets or liabilities that the entity has the ability to access.

2级		Valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.

级别3		Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The Company’s financial instruments were classified within Level 1 or Level 2 of the fair value hierarchy as of 2017年3月31日 , because they were valued using quoted market prices, broker/dealer quotes or alternative pricing sources with observable levels of price transparency. As of 2017年3月31日，根据活跃市场的报价市场价格进行价值的工具类型包括货币市场基金，美国国库券，某些美国政府机构证券和某些主权证券。此类工具通常在公允价值层次结构的1级中分类。

作为 2017年3月31日，根据其他可观察的意见重视的工具类型包括公司债务证券，某些美国政府机构证券和某些主权证券。用于重视这些工具的市场投入通常包括市场收益率，报告的交易和经纪人/经销商报价。此类工具通常在公允价值层次结构的2级中分类。

该公司的主要市场执行beplay官网uedits foreign currency contracts is the institutional market in an over-the-counter environment with a relatively high level of price transparency. The market participants generally are large financial institutions. The Company’s foreign currency contracts’ valuation inputs are based on quoted prices and quoted pricing intervals from public data sources and do not involve management judgment. These contracts are typically classified within Level 2 of the fair value hierarchy.

Financial assets (excluding cash held in operating accounts and time deposits) and liabilities measured at fair value on a recurring basis, as of the date indicated below, were presented on the Company’s Condensed Consolidated Balance Sheet as follows:



截至2017年3月31日（成千上万）	全部的			引用价格 Active Markets for Identical 资产（1级）		Significant Other Observable Inputs （2级）
Assets
Cash equivalents:
公司债务证券	$	21,789		$	—	$	21,789
Money market funds and other	432,229			432,229		—
Sovereign securities	17,314			—		17,314
美国国库券	64,771			64,771		—
U.S. Government agency securities	44,969			—		44,969
可销售的证券：
公司债务证券	1,013,403			—		1,013,403
Sovereign securities	55,354			993		54,361
美国国库券	306,075			306,075		—
U.S. Government agency securities	368,478			345,234		23,244
总现金当量和可销售证券 ⁽¹⁾	2,324,382			1,149,302		1,175,080
其他流动资产：
Derivative assets	6,520			—		6,520
Other non-current assets:
执行延期储蓄计划	178,073			134,254		43,819
全部的financial assets ⁽¹⁾	$	2,508,975		$	1,283,556	$	1,225,419
Liabilities
其他流动负债：
Derivative liabilities	$	（1,894	)	$	—	$	（1,894	)
总金融负债	$	（1,894	)	$	—	$	（1,894	)

________________

（1）排除现金 3.44亿美元在运营帐户和时间存款中 $35.2 million 作为 2017年3月31日 .



作为2016年6月30日(In thousands)	全部的			引用价格 Active Markets for Identical 资产（1级）		Significant Other Observable Inputs （2级）
Assets
Cash equivalents:
公司债务证券	$	20,569		$	—	$	20,569
Money market funds and other	626,156			626,156		—
美国国库券	68,748			68,748		—
可销售的证券：
公司债务证券	657,905			—		657,905
Municipal securities	5,016			—		5,016
Sovereign securities	41,257			6,426		34,831
美国国库券	258,754			258,754		—
U.S. Government agency securities	405,705			385,731		19,974
总现金当量和可销售证券 ⁽¹⁾	2,084,110			1,345,815		738,295
其他流动资产：
Derivative assets	1,095			—		1,095
Other non-current assets:
执行延期储蓄计划	162,160			106,149		56,011
全部的financial assets ⁽¹⁾	$	2,247,365		$	1,451,964	$	795,401
Liabilities
其他流动负债：
Derivative liabilities	$	（11,647	)	$	—	$	（11,647	)
总金融负债	$	（11,647	)	$	—	$	（11,647	)

________________

（1）排除现金 3.3亿美元在运营帐户和时间存款中 $77.1 million 作为 2016年6月30日 .

There were no transfers between Level 1 and Level 2 fair value measurements during the nine 几个月结束了 2017年3月31日 . The Company did not have any assets or liabilities measured at fair value on a recurring basis within Level 3 fair value measurements as of 2017年3月31日或者 2016年6月30日 .

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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