Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Details (Tables)

v3.21.2
Balance Sheet Details (Tables)
 9 Months Ended
Sep. 30, 2021
Balance Sheet Related Disclosures [Abstract]  
Cash, Cash Equivalents and Investments Cash, cash equivalents and restricted cash consist of the following:
September 30, 2021 December 31, 2020
(in thousands)
Cash and cash equivalents $ 169,424  $ 148,901 
Short-term restricted cash 107  115 
Long-term restricted cash 1,023  1,018 
Total cash, cash equivalents and restricted cash $ 170,554  $ 150,034 
Inventory Inventory consists of the following:
September 30, 2021 December 31, 2020
(in thousands)
Work-in-process $ 63,436  $ 35,852 
Finished goods 63,911  61,987 
$ 127,347  $ 97,839 
Prepaid and Other Current Assets Prepaid and other current assets consist of the following:
September 30, 2021 December 31, 2020
(in thousands)
Prepaid expenses $ 9,986  $ 7,674 
Other receivables —  32,762 
Other current assets 4,549  6,985 
$ 14,535  $ 47,421 
Property and Equipment Property and equipment, net consists of the following:
Useful Life
(in Years)		 September 30, 2021 December 31, 2020
(in thousands)
Furniture and fixtures 5 $ 3,855  $ 2,524 
Machinery and equipment
3-5
 59,759  55,456 
Masks and production equipment
2-5
 28,336  19,205 
Software 3 8,569  7,194 
Leasehold improvements
1-5
 30,126  16,871 
Construction in progress N/A 2,045  8,050 
132,690  109,300 
Less: accumulated depreciation and amortization (79,668) (69,830)
$ 53,022  $ 39,470 
Price Protection Liability Accrued price protection liability consists of the following activity:
Nine Months Ended September 30,
2021 2020
(in thousands)
Beginning balance $ 47,766  $ 12,557 
Charged as a reduction of revenue 60,488  17,358 
Reversal of unclaimed rebates —  (159)
Payments (58,843) (11,722)
Ending balance $ 49,411  $ 18,034 
Accrued Expenses Accrued expenses and other current liabilities consist of the following:
September 30, 2021 December 31, 2020
(in thousands)
Deferred purchase price payments $ —  $ 34,484 
Payables under transition services agreement —  17,420 
Accrued technology license payments 5,011  5,821 
Accrued professional fees 3,880  2,620 
Accrued engineering and production costs 12,641  3,448 
Accrued restructuring 634  3,628 
Accrued royalty 1,478  1,965 
Short-term lease liabilities 9,071  8,144 
Accrued customer credits 1,284  1,135 
Income tax liability 5,500  1,193 
Customer contract liabilities 1,023  29 
Accrued obligations to customers for price adjustments 21,458  10,277 
Accrued obligations to customers for stock rotation rights 3,108  2,036 
Other 5,778  13,642 
$ 70,866  $ 105,842 
Schedule of Accumulated Other Comprehensive Income (Loss) by Component The following table summarizes the change in balances of accumulated other comprehensive income (loss) by component:
Cumulative Translation Adjustments Pension and Other Defined Benefit Plan Obligation Total
(in thousands)
Balance at December 31, 2020 $ 263  $ 1,172  $ 1,435 
Other comprehensive income (loss) before reclassifications, net of tax (924) —  (924)
Balance at September 30, 2021 $ (661) $ 1,172  $ 511