Logitech 2005 Annual Report Download - page 119
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LOGITECH INTERNATIONAL S.A.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Note 5 — Balance Sheet Components:
The following provides a breakout of certain balance sheet components (in thousands):
March 31,
2005 2004
Accounts receivable:
Accounts receivable .................................................. $274,538 $ 249,175
Allowance for doubtful accounts ........................................ (5,166) (6,068)
Allowanceforcustomerprogramsandreturns ............................. (40,138) (36,920)
$ 229,234 $ 206,187
Inventories:
Raw materials ....................................................... $ 39,162 $ 32,592
Work-in-process ..................................................... 572 554
Finished goods ...................................................... 136,252 102,415
$ 175,986 $ 135,561
Other current assets:
Tax and VAT refund receivables ........................................ $ 13,384 $ 17,520
Deferred taxes ....................................................... 23,446 17,390
Prepaidexpensesandother............................................. 13,534 10,394
$ 50,364 $ 45,304
Property, plant and equipment:
Land .............................................................. $ 2,017 $ 1,929
Plantandbuildings ................................................... 21,558 20,640
Equipment .......................................................... 82,698 72,431
Computerequipmentandsoftware....................................... 63,110 56,395
Construction-in-progress .............................................. 16,136 2,716
185,519 154,111
Less: accumulated depreciation ......................................... (132,863) (116,803)
$ 52,656 $ 37,308
Other assets:
Debt issuance costs ................................................... $ 651 $ 1,216
VAT refund receivable ................................................ — 4,900
Deposits and other ................................................... 1,809 3,357
$ 2,460 $ 9,473
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