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

6 Months Ended

2014年12月31日

FAIR VALUE MEASUREMENTS

公司的金beplay官网ued融资产和负债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 has evaluated the estimated fair value 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 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:



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

Level 2		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.

Level 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 2014年12月31日 , because they were valued using quoted market prices, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. As of 2014年12月31日 , the types of instruments valued based on quoted market prices in active markets included money market funds, U.S. Treasury securities, certain sovereign securities and certain U.S. Government agency securities. Such instruments are generally classified within Level 1 of the fair value hierarchy.

作为 2014年12月31日 , the types of instruments valued based on other observable inputs included corporate debt securities, municipal securities and certain U.S. Government agency securities and sovereign securities. The market inputs used to value these instruments generally consist of market yields, reported trades and broker/dealer quotes. Such instruments are generally classified within Level 2 of the fair value hierarchy.

该公司执行外币合同的主要市场是在价格透明度相对较高的非处方环境中的机beplay官网ued构市场。市场参与者通常是大型金融机构。该公司的beplay官网ued外币合同的估值意见是基于报价的价格和引用的公共数据来源定价间隔，并且不涉及管理判断。这些合同通常在公允价值层次结构的2级中分类。

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:



作为2014年12月31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:
U.S. Government agency securities	$	28,022		$	12,022	$	16,000
公司债务证券	14,997			—		14,997
Money market and other	414,875			414,875		—
可销售的证券：
美国国库券	314,722			314,722		—
U.S. Government agency securities	666,327			644,336		21,991
Municipal securities	33,032			—		33,032
公司债务证券	709,692			—		709,692
Sovereign securities	51,538			13,651		37,887
总现金当量和可销售证券 ⁽¹⁾	2,233,205			1,399,606		833,599
其他流动资产：
Derivative assets	11584年			—		11584年
Other non-current assets:
执行延期储蓄计划	166,305			95,404		70,901
全部的financial assets ⁽¹⁾	$	2,411,094		$	1,495,010	$	916,084
Liabilities
Other current liabilities:
Derivative liabilities	$	(1,816	)	$	—	$	(1,816	)
总金融负债	$	(1,816	)	$	—	$	(1,816	)

________________

（1）排除现金 $111.7 million 在运营帐户和时间存款中 $21.9 million as of 2014年12月31日。



作为June 30, 2014 (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:
U.S. Government agency securities	$	28,000		$	8,000	$	20,000
Municipal securities	2891年			—		2891年
公司债务证券	68,992			—		68,992
Money market and other	397,517			397,517		—
可销售的证券：
美国国库券	384,400			365,401		18,999
U.S. Government agency securities	839,843			811,841		28,002
Municipal securities	93325年			—		93325年
公司债务证券	1,155,176			—		1,155,176
Sovereign securities	42,264			9,253		33,011
总现金当量和可销售证券 ⁽¹⁾	3,012,408			1,592,012		1,420,396
其他流动资产：
Derivative assets	666			—		666
Other non-current assets:
执行延期储蓄计划	159,995			105,311		54,684
全部的financial assets ⁽¹⁾	$	3,173,069		$	1,697,323	$	1,475,746
Liabilities
Other current liabilities:
Derivative liabilities	$	(898	)	$	—	$	(898	)
总金融负债	$	(898	)	$	—	$	(898	)

________________

（1）排除现金 1.067亿美元在运营帐户和时间存款中 $33.5 million as of June 30, 2014 。

在三个月和六个月结束时，没有1级和2级公允价值测量的转移 2014年12月31日。该公司没beplay官网ued有在3级公允价值衡量范围内以公允价值衡量的重要资产或负债 2014年12月31日或者 June 30, 2014 。

- 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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