Adaptec 2002 Annual Report Download - page 48

PMC−Sierra, Inc.
CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)
December 31,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
2002 2001
ASSETS:
Current assets:
Cash and cash equivalents $ 70,504 $ 152,120
Short−term investments 340,826 258,609
Restricted cash 5,329 −
Accounts receivable, net of allowance for doubtful
accounts of $2,781 ($2,625 in 2001) 16,621 16,004
Inventories 26,420 34,246
Deferred tax assets 1,083 14,812
Prepaid expenses and other current assets 15,499 18,435
−−−−−−−−−−−−−− −−−−−−−−−−−−−−
Total current assets 476,282 494,226
Investment in bonds and notes 148,894 171,025
Other investments and assets 21,978 68,863
Deposits for wafer fabrication capacity 21,992 21,992
Property and equipment, net 51,189 89,715
Goodwill and other intangible assets, net 8,381 9,520
−−−−−−−−−−−−−− −−−−−−−−−−−−−−
$ 728,716 $ 855,341
============== ==============
LIABILITIES AND STOCKHOLDERS' EQUITY:
Current liabilities:
Accounts payable $ 24,697 $ 21,320
Accrued liabilities 53,530 49,348
Income taxes payable 21,553 19,742
Accrued restructuring costs 129,499 161,198
Deferred income 17,982 27,677
Current portion of obligations under capital leases and long−term debt − 470
−−−−−−−−−−−−−− −−−−−−−−−−−−−−
Total current liabilities 247,261 279,755
Convertible subordinated notes 275,000 275,000
Deferred tax liabilities 2,764 23,042
Commitments and contingencies (Note 8)
PMC special shares convertible into 3,196 (2001 − 3,373)
shares of common stock 5,052 5,317
Stockholders' equity
Common stock and additional paid in capital, par value $.001:
900,000 shares authorized; 167,400 shares issued and
outstanding (2001 − 165,702) 834,265 824,321
Deferred stock compensation (1,158) (4,186)
Accumulated other comprehensive income 3,939 25,492
Accumulated deficit (638,407) (573,400)
−−−−−−−−−−−−−− −−−−−−−−−−−−−−
Total stockholders' equity 198,639 272,227
−−−−−−−−−−−−−− −−−−−−−−−−−−−−
$ 728,716 $ 855,341
============== ==============
See notes to the Consolidated Financial Statements.
47