SanDisk 2007 Annual Report Download - page 100

Download and view the complete annual report

Please find page 100 of the 2007 SanDisk annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 157

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157

SANDISK CORPORATION
CONSOLIDATED BALANCE SHEETS
December 30,
2007
December 31,
2006
(In thousands, except for share
and per share amounts)
ASSETS
Current assets:
Cash and cash equivalents ........................................ $ 833,749 $1,580,700
Short-term investments .......................................... 1,001,641 1,251,493
Accounts receivable from product revenues, net of allowance for doubtful
accounts of $13,790 in fiscal year 2007 and $11,452 in fiscal year 2006 . . . . 462,983 611,740
Inventory .................................................... 555,077 495,984
Deferred taxes................................................. 212,255 176,007
Other current assets............................................. 233,952 125,937
Total current assets ......................................... 3,299,657 4,241,861
Long-term investments ............................................ 1,060,393 457,184
Property and equipment, net ........................................ 422,895 317,965
Notes receivable and investments in flash ventures with Toshiba ............. 1,108,905 462,307
Deferred taxes .................................................. 117,130 102,100
Goodwill . . . ................................................... 840,870 910,254
Intangibles, net .................................................. 322,023 389,078
Other non-current assets ........................................... 62,946 87,034
Total assets ............................................... $7,234,819 $6,967,783
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable .............................................. $ 285,711 $ 261,870
Accounts payable to related parties ................................. 158,443 139,627
Other current accrued liabilities .................................... 286,850 311,000
Deferred income on shipments to distributors and retailers and deferred
revenue . ................................................... 182,879 183,950
Total current liabilities ....................................... 913,883 896,447
Convertible long-term debt ......................................... 1,225,000 1,225,000
Non-current liabilities ............................................. 135,252 72,226
Total liabilities............................................. 2,274,135 2,193,673
Minority interest ................................................. 1,067 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: 224,166,707 in fiscal year 2007 and
226,518,283 in fiscal year 2006 ................................ 224 226
Capital in excess of par value ................................... 3,796,849 3,656,895
Retained earnings ............................................ 1,130,069 1,105,520
Accumulated other comprehensive income .......................... 32,475 5,493
Total stockholders’ equity .................................... 4,959,617 4,768,134
Total liabilities and stockholders’ equity .......................... $7,234,819 $6,967,783
The accompanying notes are an integral part of these consolidated financial statements.
F-4