SanDisk 2013 Annual Report Download - page 186
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Other Current Assets. Other current assets were as follows (in thousands):
December 29, December 30,
2013 2012
Tax-related receivables ........................................... $ 70,760 $ 186,223
Other non-trade receivables ....................................... 37,368 —
Prepayment to Flash Forward Ltd. .................................. 5,144 20,577
Derivative contract receivables ...................................... 777 19,064
Prepaid expenses ............................................... 12,630 13,221
Other current assets ............................................. 40,206 21,794
Total other current assets ...................................... $ 166,885 $ 260,879
Property and Equipment. Property and equipment were as follows (in thousands):
December 29, December 30,
2013 2012
Machinery and equipment ......................................... $ 1,148,150 $ 1,124,701
Software ..................................................... 171,733 148,014
Buildings and building improvements ................................. 261,471 227,651
Capital land lease .............................................. 6,644 6,603
Land....................................................... 24,427 24,427
Furniture and fixtures ............................................ 20,481 10,106
Leasehold improvements ......................................... 6,559 11,979
Property and equipment, at cost ................................. 1,639,465 1,553,481
Accumulated depreciation and amortization ............................. (983,671) (887,939)
Property and equipment, net ................................... $ 655,794 $ 665,542
Depreciation expense of property and equipment totaled $226.3 million, $161.9 million and
$115.0 million in fiscal years 2013, 2012 and 2011, respectively.
Notes Receivable and Investments in Flash Ventures. Notes receivable and investments in Flash
Partners Ltd., Flash Alliance Ltd. and Flash Forward Ltd. (collectively referred to as ‘‘Flash Ventures’’)
were as follows (in thousands):
December 29, December 30,
2013 2012
Notes receivable, Flash Partners Ltd. ................................. $ 100,057 $ 180,254
Notes receivable, Flash Alliance Ltd. ................................. 323,995 476,800
Notes receivable, Flash Forward Ltd. ................................. 169,144 162,810
Investment in Flash Partners Ltd. ................................... 190,694 232,547
Investment in Flash Alliance Ltd. ................................... 283,999 342,048
Investment in Flash Forward Ltd. ................................... 66,731 65,653
Total notes receivable and investments in Flash Ventures ................ $ 1,134,620 $ 1,460,112
Equity-method investments and the Company’s maximum loss exposure related to Flash Ventures are
discussed further in Note 12, ‘‘Commitments, Contingencies and Guarantees — Flash Ventures’’ and
Note 13, ‘‘Related Parties and Strategic Investments.’’
The Company assesses financing receivable credit quality through financial and operational reviews of
the borrower and creditworthiness, including credit rating agency ratings, of significant investors of the
F-20