SanDisk 2004 Annual Report Download - page 49
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Table of Contents
SANDISK CORPORATION
CONSOLIDATED BALANCE SHEETS
January 2, December 28,
2005 2003
(In thousands, except per
share amounts)
ASSETS
Current assets:
Cash and cash equivalents $ 463,795 $ 734,479
Short−term investments 859,175 528,117
Investment in foundries 20,398 36,976
Accounts receivable, net of allowance for doubtful accounts of $8,462 in
2004 and $4,882 in 2003 194,535 184,236
Inventories 196,422 116,896
Deferred taxes 83,150 70,806
Prepaid expenses, other current assets and tax receivable 62,653 53,394
Total current assets 1,880,128 1,724,904
Property and equipment, net 147,231 59,470
Notes receivable from FlashVision 35,413 —
Investment in foundries 14,377 40,446
Investment in FlashVision 178,681 169,185
Investment in Flash Partners 24,192 —
Deferred taxes 1,861 —
Deposits and other non−current assets 38,297 46,151
Total assets $ 2,320,180 $ 2,040,156
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 82,974 $ 88,737
Accounts payable to related parties 48,115 45,013
Accrued payroll and related expenses 41,786 28,233
Income taxes payable 39,139 37,254
Research and development liability, related party 5,549 11,800
Other accrued liabilities 45,584 36,661
Deferred income on shipments to distributors and retailers and deferred
revenue 90,307 99,136
Total current liabilities 353,454 346,834
Convertible subordinated notes payable — 150,000
Deferred revenue and other non−current liabilities 26,576 27,450
Total liabilities 380,030 524,284
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.001 par value, Authorized shares: 4,000,000, Issued and
outstanding: none — —
Common stock, $0.001 par value; Authorized shares: 400,000,000; Issued
and outstanding: 179,964,226 in 2004 and 160,914,000 in 2003 180 160
Capital in excess of par value 1,406,373 1,207,798
Retained earnings 520,240 253,624
Accumulated other comprehensive income 18,893 54,290
Deferred compensation (5,536) —
Total stockholders’ equity 1,940,150 1,515,872
Total liabilities and stockholders’ equity $ 2,320,180 $ 2,040,156
The accompanying notes are an integral part of these consolidated financial statements.
F−4