SanDisk 2008 Annual Report Download - page 69

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SANDISK CORPORATION
CONSOLIDATED BALANCE SHEETS
December 28,
2008
December 30,
2007
(In thousands, except for share
and per share amounts)
ASSETS
Current assets:
Cash and cash equivalents ........................................... $ 962,061 $ 833,749
Short-term investments ............................................. 477,296 1,001,641
Accounts receivable from product revenues, net of allowance for doubtful
accounts of $13,881 in fiscal year 2008 and $13,790 in fiscal year 2007 ..... 122,092 462,983
Inventory ........................................................ 598,251 555,077
Deferred taxes .................................................... 73,684 212,255
Other current assets ................................................ 469,961 233,952
Total current assets ............................................ 2,703,345 3,299,657
Long-term investments ................................................. 1,097,302 1,060,393
Property and equipment, net ............................................. 396,987 422,895
Notes receivable and investments in flash ventures with Toshiba ................ 1,602,291 1,108,905
Deferred taxes ........................................................ 15,188 117,130
Goodwill ............................................................ — 840,870
Intangible assets, net ................................................... 63,182 322,023
Other non-current assets ................................................ 48,641 62,946
Total assets ................................................... $5,926,936 $7,234,819
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable trade ............................................. $ 240,985 $ 285,711
Accounts payable to related parties .................................... 370,006 158,443
Other current accrued liabilities ....................................... 502,443 286,850
Deferred income on shipments to distributors and retailers and deferred
revenue ........................................................ 149,575 182,879
Total current liabilities .......................................... 1,263,009 913,883
Convertible long-term debt .............................................. 1,225,000 1,225,000
Non-current liabilities .................................................. 263,977 135,252
Total liabilities ................................................ 2,751,986 2,274,135
Minority interest ....................................................... 151 1,067
Commitments and contingencies (see Note 13)
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: 226,128,177 in fiscal year 2008 and 224,166,707 in fiscal year
2007 .......................................................... 226 224
Capital in excess of par value ........................................ 3,912,303 3,796,849
Retained earnings (accumulated deficit) ................................ (926,707) 1,130,069
Accumulated other comprehensive income .............................. 188,977 32,475
Total stockholders’ equity ....................................... 3,174,799 4,959,617
Total liabilities and stockholders’ equity ............................ $5,926,936 $7,234,819
The accompanying notes are an integral part of these consolidated financial statements.
F-4