Annual report pursuant to Section 13 and 15(d)

Note 3. Financial Statement Components (Tables)

 v2.3.0.11
Note 3. Financial Statement Components (Tables)
12 Months Ended
Jun. 30, 2011
Balance Sheet Related Disclosures [Abstract]  
Consolidated Statements of Operations
Consolidated Statements of Operations
 
Year ended June 30,
(In thousands)
2011
 
2010
 
2009
Interest income and other, net:
 
 
 
 
 
Interest income
$
15,513

  
$
17,512

 
$
27,157

Foreign exchange gains (losses), net
(2,108
)
 
(5,009
)
 
5,375

Realized gains (losses) on sale of investments
2,479

  
4,021

 
(568
)
Other
(11,820
)
(1)
15,008

(2)
(1,215
)
 
$
4,064

  
$
31,532

 
$
30,749

 __________________ 
(1)
Includes impairment charges of $9.9 million recorded during the fiscal year ended June 30, 2011 for equity investments in privately-held companies.
(2)
Includes a benefit of $15.9 million that the Company recorded upon expiration of a statute of limitations related to an uncertainty in the Company’s position with respect to a foreign transaction-based tax.
Consolidated Balance Sheets
Consolidated Balance Sheets
 
As of June 30,
(In thousands)
2011
 
2010
Accounts receivable, net:
 
 
 
Accounts receivable, gross
$
605,376

 
$
471,999

Allowance for doubtful accounts
(22,106
)
 
(31,874
)
 
$
583,270

 
$
440,125

Inventories, net:
 
 
 
Customer service parts
$
148,466

 
$
131,951

Raw materials
235,605

 
123,301

Work-in-process
131,804

 
95,641

Finished goods
59,855

 
50,837

 
$
575,730

 
$
401,730

Other current assets:
 
 
 
Prepaid expense
$
61,796

 
$
39,121

Income tax related receivables
59,774

 
47,934

Other current assets
25,508

 
43,989

 
$
147,078

 
$
131,044

Land, property and equipment, net(1):
 
 
 
Land
$
41,956

 
$
41,807

Buildings and leasehold improvements
234,173

 
224,403

Machinery and equipment
447,772

 
443,351

Office furniture and fixtures
19,645

 
23,345

Construction in process
6,979

 
2,603

 
750,525

 
735,509

Less: accumulated depreciation and amortization
(493,167
)
 
(498,757
)
 
$
257,358

 
$
236,752

Other non-current assets:
 
 
 
Executive Deferred Savings Plan(2)
$
128,033

 
$
109,230

Deferred tax assets—long-term
173,788

 
244,927

Other
26,274

 
35,340

 
$
328,095

 
$
389,497

Other current liabilities:
 
 
 
Warranty
$
41,528

 
$
21,109

Executive Deferred Savings Plan(2)
128,088

 
109,964

Compensation and benefits
186,761

 
158,482

Income taxes payable
16,564

 
35,340

Interest payable
8,769

 
8,769

Accrued litigation costs
4,824

 
10,439

Other accrued expenses
115,937

 
77,956

 
$
502,471

 
$
422,059

Accumulated other comprehensive income (loss):
 
 
 
Currency translation adjustments
$
251

 
$
(27,701
)
Gains (losses) on cash flow hedging instruments, net of taxes (benefits) of $5 in 2011 and $(754) in 2010


8

 
(1,241
)
Unrealized gains on investments, net of taxes of $2,258 in 2011 and $2,163 in 2010

3,909

 
3,562

Unrealized losses of defined benefit pension plan, net of tax benefits of $(4,637) in 2011 and $(3,721) in 2010
(6,567
)
 
(5,923
)
 
$
(2,399
)
 
$
(31,303
)
 __________________ 
(1)
 As of June 30, 2011 and 2010, the net book value of property and equipment includes assets held for sale of $2.3 million and $19.3 million, respectively.
(2)
KLA-Tencor has a non-qualified deferred compensation plan whereby 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 KLA-Tencor. Distributions from the plan commence the quarter following a participant’s retirement or termination of employment, except in cases where such distributions are required to be delayed in order to avoid a prohibited distribution under Internal Revenue Code Section 409A. As of June 30, 2011, the Company had a deferred compensation plan related asset and liability included as a component of other non-current assets and other current liabilities on the Consolidated Balance Sheet.