SanDisk 2006 Annual Report Download - page 104

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SANDISK CORPORATION
CONSOLIDATED BALANCE SHEETS
December 31,
2006
January 1,
2006
(In thousands, except for share
and per share amounts)
ASSETS
Current assets:
Cash and cash equivalents . . ...................................... $1,580,700 $ 762,058
Short-term investments........................................... 1,228,773 935,639
Accounts receivable from product revenues, net of allowance for doubtful
accounts of $11,452 in 2006 and $8,050 in 2005 ...................... 611,740 329,014
Inventory ..................................................... 495,984 331,584
Deferred taxes ................................................. 176,007 95,518
Other current assets ............................................. 148,657 121,922
Total current assets............................................ 4,241,861 2,575,735
Long-term investments............................................. 457,184 —
Property and equipment, net . . ...................................... 317,965 211,092
Notes receivable and investments in flash ventures ........................ 462,307 265,074
Deferred taxes ................................................... 102,100 —
Goodwill ....................................................... 910,254 5,415
Intangibles, net .................................................. 389,078 4,608
Other non-current assets ........................................... 87,034 58,263
Total assets ................................................. $6,967,783 $3,120,187
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable............................................... $ 261,870 $ 231,208
Accounts payable to related parties.................................. 139,627 74,121
Other current accrued liabilities .................................... 311,000 115,525
Deferred income on shipments to distributors and retailers and deferred
revenue .................................................... 183,950 150,283
Total current liabilities . . . ...................................... 896,447 571,137
Convertible long-term debt . . . ...................................... 1,225,000 —
Non-current liabilities and deferred revenue ............................. 72,226 25,259
Total liabilities ............................................... 2,193,673 596,396
Minorityinterest................................................. 5,976 —
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: 800,000,000; Issued and
outstanding: 226,518,283 in 2006 and 188,221,958 in 2005 ................ 226 188
Capital in excess of par value . ...................................... 3,656,895 1,621,819
Retained earnings ................................................ 1,105,520 906,624
Accumulated other comprehensive income .............................. 5,493 2,635
Deferred compensation ............................................ — (7,475)
Total stockholders’ equity ....................................... 4,768,134 2,523,791
Total liabilities and stockholders’ equity ............................ $6,967,783 $3,120,187
The accompanying notes are an integral part of these consolidated financial statements.
Annual Report
F-5