SanDisk 2014 Annual Report Download - page 162

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SANDISK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
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 28, December 29,
2014 2013
Notes receivable, Flash Partners Ltd. ................................. $ 12,454 $ 100,057
Notes receivable, Flash Alliance Ltd. ................................. 292,677 323,995
Notes receivable, Flash Forward Ltd. ................................. 161,906 169,144
Investment in Flash Partners Ltd. ................................... 167,102 190,694
Investment in Flash Alliance Ltd. ................................... 249,459 283,999
Investment in Flash Forward Ltd. ................................... 79,219 66,731
Total notes receivable and investments in Flash Ventures ................ $ 962,817 $ 1,134,620
Equity-method investments and the Company’s maximum loss exposure related to Flash Ventures are
discussed further in Note 14, ‘‘Commitments, Contingencies and Guarantees — Flash Ventures’’ and
Note 15, ‘‘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
borrower, where material or known. Impairments, when required for credit worthiness, are recorded in
other income (expense). The Company makes or will make long-term loans to Flash Ventures to fund new
process technologies and additional wafer capacity. The Company aggregates its Flash Ventures’ notes
receivable into one class of financing receivables due to the similar ownership interest and common
structure in each Flash Venture entity. For all reporting periods presented, no loans were past due and no
loan impairments were recorded.
Other Non-current Assets. Other non-current assets were as follows (in thousands):
December 28, December 29,
2014 2013
Prepaid tax on intercompany transactions .............................. $ 33,375 $ 37,747
Long-term prepaid income tax ..................................... — 66,176
Other non-current assets ......................................... 75,302 63,507
Total other non-current assets ................................... $ 108,677 $ 167,430
Other Current Accrued Liabilities. Other current accrued liabilities were as follows (in thousands):
December 28, December 29,
2014 2013
Accrued payroll and related expenses ................................. $ 233,702 $ 227,779
Taxes payable ................................................. 74,079 59,618
Derivative contract payables ....................................... 8,224 45,741
Other current accrued liabilities .................................... 190,288 176,594
Total other current accrued liabilities .............................. $ 506,293 $ 509,732
F-22