| Balance Sheet Components |
Balance Sheet Components
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|
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|
|
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(In thousands)
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As of
March 31, 2018
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As of
June 30, 2017
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Accounts receivable, net:
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|
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Accounts receivable, gross
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$
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672,099
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|
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$
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592,753
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|
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Allowance for doubtful accounts
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(11,644
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)
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(21,636
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)
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$
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660,455
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$
|
571,117
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Inventories:
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Customer service parts
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$
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250,851
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|
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$
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245,172
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Raw materials
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293,275
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|
|
240,389
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Work-in-process
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260,328
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|
193,026
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Finished goods
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54,470
|
|
|
54,401
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$
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858,924
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$
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732,988
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Other current assets:
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Prepaid income tax and other taxes
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$
|
71,741
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|
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$
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22,071
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Prepaid expenses
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47,388
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|
|
36,146
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Other current assets
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12,024
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|
|
13,004
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$
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131,153
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|
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$
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71,221
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Land, property and equipment, net:
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Land
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$
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40,615
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$
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40,617
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Buildings and leasehold improvements
|
330778年
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|
|
319,306
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Machinery and equipment
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577,020
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|
551,277
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Office furniture and fixtures
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21,991
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|
|
21,328
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Construction-in-process
|
7,260
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|
|
4,597
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|
|
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977,664
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|
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937,125
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Less: accumulated depreciation and amortization
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(693,168
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)
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(653,150
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)
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$
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284,496
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$
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283,975
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Other non-current assets:
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Executive Deferred Savings Plan
(1)
|
$
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194,756
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$
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182,150
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Other non-current assets
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19,091
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|
|
13,526
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|
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$
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213,847
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|
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$
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195,676
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Other current liabilities:
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|
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Executive Deferred Savings Plan
(1)
|
$
|
196,411
|
|
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$
|
183,603
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Compensation and benefits
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182,200
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172,707
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Customer credits and advances
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109,991
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|
|
95,188
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Other accrued expenses
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105,189
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|
|
116,039
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Warranty
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43,111
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45,458
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Interest payable
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42,342
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|
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19,396
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Income taxes payable
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37,449
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|
|
17,040
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$
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716,693
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$
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649,431
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Other non-current liabilities:
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Income taxes payable
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$
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382,891
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$
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68,439
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Pension liabilities
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78,532
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|
|
72,801
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|
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Other non-current liabilities
|
33,335
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|
|
31,167
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|
|
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$
|
494,758
|
|
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$
|
172,407
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|
________________
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(1)
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KLA-Tencor has a non-qualified deferred compensation plan (known as “Executive Deferred Savings Plan”) under which 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 the Company. The Company invests these funds in certain mutual funds and such investments are classified as trading securities in the condensed consolidated balance sheets. Distributions from the Executive Deferred Savings Plan commence following a participant’s retirement or termination of employment or on a specified date allowed per the Executive Deferred Savings Plan provisions, except in cases where such distributions are required to be delayed in order to avoid a prohibited distribution under Internal Revenue Code Section 409A. Participants can generally elect the distributions to be paid in lump sum or quarterly cash payments over a scheduled period for up to
15 years
and are allowed to make subsequent changes to their existing elections as permissible under the Executive Deferred Savings Plan provisions. Changes in the Executive Deferred Savings Plan liability are recorded in selling, general and administrative expense in the condensed consolidated statements of operations. The expense associated with changes in the liability included in selling, general and administrative expense was
$0.9 million
and
$7.7 million
during the
three
months ended
March 31, 2018
and
2017
, respectively and
$14.7 million
for each of the
nine
months ended
March 31, 2018
and
2017
. Changes in the Executive Deferred Savings Plan assets are recorded as gains (losses), net in selling, general and administrative expense in the condensed consolidated statements of operations. The amount of net gains included in selling, general and administrative expense was
$0.5 million
and
$7.8 million
during the three months ended
March 31, 2018
and
2017
, respectively and
$14.4 million
and
$14.5 million
during the
nine
months ended
March 31, 2018
and
2017
, respectively.
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