iRobot 2012 Annual Report Download - page 103

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iROBOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
53
operations or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective
line items of net income but only if the amount reclassified is required to be reclassified to net income in its entirety in the same
reporting period. For amounts not reclassified in their entirety to net income, an entity is required to cross-reference to other
disclosures that provide additional detail about those amounts. This guidance is effective prospectively for the Company for
annual and interim periods beginning January 1, 2013. The Company will comply with the disclosure requirements of this
guidance for the quarter ending March 30, 2013.
From time to time, new accounting pronouncements are issued by FASB that are adopted by the Company as of the
specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards, which
are not yet effective, will not have a material impact on its consolidated financial statements upon adoption.
3. Inventory
Inventory consists of the following at:
December 29,
2012 December 31,
2011
(In thousands)
Raw materials $ 8,849 $ 7,769
Work in process 60 —
Finished goods 28,056 23,320
$ 36,965 $ 31,089
4. Property and Equipment
Property and equipment consists of the following at:
December 29,
2012 December 31,
2011
(In thousands)
Computer and equipment $ 16,086 $ 17,616
Furniture 2,762 2,732
Machinery 3,391 3,375
Tooling 10,147 7,303
Leasehold improvements 15,758 15,459
Software purchased for internal use 8,273 8,338
56,417 54,823
Less: accumulated depreciation 31,464 25,794
$ 24,953 $ 29,029
Depreciation expense for the years ended December 29, 2012, December 31, 2011 and January 1, 2011 was $9.9 million,
$9.0 million, and $7.0 million, respectively.
5. Other Assets
Other assets consists of the following at:
December 29,
2012 December 31,
2011
(In thousands)
Investment in Advanced Scientific Concepts, Inc. $ 2,500
$ 2,500
Investment in InTouch Technologies, Inc. 6,000 —
$ 8,500 $ 2,500
In November 2007, the Company recorded an investment of $2.5 million in a series of preferred stock of Advanced
Scientific Concepts, Inc. In January 2012, the Company recorded an investment of $6.0 million in a series of preferred stock of
InTouch Technologies, Inc. These investments are accounted for at cost. The Company regularly monitors these investments
Form 10-KForm 10-K