Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

v3.19.1
Revenue (Tables)
9 Months Ended
Mar. 31, 2019
Revenue from Contract with Customer [Abstract]  
Schedule of Impact of ASC 606 to the Condensed Consolidated Financial Statements
The following table, including the results from the acquisition of Orbotech, summarizes the effects of adopting ASC 606 on our condensed consolidated balance sheet as of March 31, 2019:
March 31, 2019 (In thousands)
As reported under
ASC 606
 
Prior to
adoption of
ASC 606
 
Effect of changes
ASSETS
 
 
 
 
 
Accounts receivable, net
$
958,021

 
$
1,064,002

 
$
(105,981
)
Other current assets
270,079

 
130,172

 
139,907

Deferred income taxes
205,820

 
197,392

 
8,428

LIABILITIES
 
 
 
 
 
Deferred system revenue
$
228,745

 
$

 
$
228,745

Deferred service revenue
182,119

 
97,190

 
84,929

Deferred system profit

 
323,107

 
(323,107
)
Other current liabilities
833,747

 
866,870

 
(33,123
)
Deferred service revenue, non-current
90,610

 
82,176

 
8,434

STOCKHOLDERS EQUITY
 
 
 
 
 
Retained earnings
$
928,086

 
$
851,740

 
$
76,346

Accumulated other comprehensive income (loss)
(68,907
)
 
(69,038
)
 
131


The following table, including the results from the acquisition of Orbotech, summarizes the effects of adopting ASC 606 on our condensed consolidated statements of operations for the three months ended March 31, 2019:
Three months ended March 31, 2019 (In thousands, except per share amounts)
As reported under
ASC 606
 
Prior to
adoption of
ASC 606
 
Effect of changes
Revenues:
 
 
 
 
 
Product
$
793,224

 
$
854,393

 
$
(61,169
)
Service
304,087

 
266,333

 
37,754

Costs and expenses:
 
 
 
 
 
Costs of revenues
486,945

 
499,209

 
(12,264
)
Other expense (income), net
(9,282
)
 
(9,041
)
 
(241
)
Provision for income taxes
28,745

 
29,755

 
(1,010
)
Net income attributable to KLA-Tencor
192,728

 
202,627

 
(9,899
)
Net income per share attributable to KLA-Tencor
 
 
 
 
 
Basic
$
1.23

 
$
1.30

 
$
(0.07
)
Diluted
$
1.23

 
$
1.29

 
$
(0.06
)
The following table, including the results from the acquisition of Orbotech, summarizes the effects of adopting ASC 606 on our condensed consolidated statements of operations for the nine months ended March 31, 2019:
Nine months ended March 31, 2019 (In thousands, except per share amounts)
As reported under
ASC 606
 
Prior to
adoption of
ASC 606
 
Effect of changes
Revenues:
 
 
 
 
 
Product
$
2,474,652

 
$
2,430,481

 
$
44,171

Service
835,817

 
726,976

 
108,841

Costs and expenses:
 
 
 
 
 
Costs of revenues
1,276,592

 
1,233,999

 
42,593

Other expense (income), net
(28,535
)
 
(28,253
)
 
(282
)
Provision for income taxes
107,232

 
94,090

 
13,142

Net income attributable to KLA-Tencor
957,772

 
860,212

 
97,560

Net income per share attributable to KLA-Tencor:
 
 
 
 
 
Basic
$
6.20

 
$
5.57

 
$
0.63

Diluted
$
6.17

 
$
5.54

 
$
0.63

Schedule of Contract Balances
Contract Balances
 
As of
 
As of
 
 
 
 
(In thousands, except for percentage)
March 31, 2019
 
July 1, 2018
 
$ Change
 
% Change
Accounts receivable, net
$
958,021

 
$
635,878

 
$
322,143

 
51
 %
Contract assets
$
91,518

 
$
14,727

 
$
76,791

 
521
 %
Contract liabilities
$
501,474

 
$
556,691

 
$
(55,217
)
 
(10
)%