Annual report pursuant to Section 13 and 15(d)

Balance Sheet Details (Tables)

v3.20.4
Balance Sheet Details (Tables)
 12 Months Ended
Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]  
Cash, Cash Equivalents and Investments
Cash, cash equivalents, and restricted cash consist of the following:
December 31, 2020 December 31, 2019
(in thousands)
Cash and cash equivalents $ 148,901  $ 92,708 
Short-term restricted cash 115  349 
Long-term restricted cash 1,018  60 
Total cash, cash equivalents and restricted cash $ 150,034  $ 93,117 
Inventory
Inventory consists of the following:
December 31, 2020 December 31, 2019
(in thousands)
Work-in-process $ 35,852  $ 14,525 
Finished goods 61,987  16,985 
$ 97,839  $ 31,510 
Schedule of Other Assets
Prepaid and other current assets consist of the following:
December 31, 2020 December 31, 2019
(in thousands)
Prepaid expenses $ 7,674  $ 3,366 
Other receivables 32,762  — 
Other current assets 6,985  3,426 
$ 47,421  $ 6,792 
Property and Equipment
Property and equipment consist of the following:
Useful Life
(in Years)		 December 31, 2020 December 31, 2019
(in thousands)
Furniture and fixtures 5 $ 2,524  $ 2,199 
Machinery and equipment
3-5
 55,456  35,660 
Masks and production equipment
2-5
 19,205  15,209 
Software 3 7,194  5,956 
Leasehold improvements
1-5
 16,871  16,186 
Construction in progress N/A 8,050  746 
109,300  75,956 
Less accumulated depreciation and amortization (69,830) (59,343)
$ 39,470  $ 16,613 
Price Protection Liability
Accrued price protection liability consists of the following activity:
Years Ended December 31,
2020 2019
(in thousands)
Beginning balance $ 12,557  $ 16,454 
Charged as a reduction of revenue 48,942  24,449 
Reversal of unclaimed rebates (159) (42)
Payments (13,574) (28,304)
Ending balance $ 47,766  $ 12,557 
Accrued Expenses
Accrued expenses and other current liabilities consist of the following:
December 31, 2020 December 31, 2019
(in thousands)
Deferred purchase price payments $ 34,484  $ — 
Payables under transition services agreement 17,420  — 
Accrued technology license payments 5,821  4,500 
Accrued professional fees 2,620  861 
Accrued engineering and production costs 3,448  4,491 
Accrued restructuring 3,628  294 
Accrued royalty 1,965  923 
Short-term lease liabilities 8,144  4,810 
Accrued customer credits 1,135  832 
Income tax liability 1,193  65 
Customer contract liabilities 29  107 
Accrued obligations to customers for price adjustments 10,277  8,382 
Accrued obligations to customers for stock rotation rights 2,036  1,410 
Other 13,642  4,496 
$ 105,842  $ 31,171 
As of December 31, 2020, other payables of $17.4 million consist of amounts due to Intel of approximately $9.1 million for purchases of inventory and $8.3 million for other operating expenses incurred by Intel on behalf of MaxLinear under the transition services agreement (Note 3).
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table summarizes the balances in accumulated other comprehensive income (loss) by component:
Cumulative Translation Adjustments Interest Rate Hedge Pension and Other Defined Benefit Plan Obligation Total
(in thousands)
Balance at December 31, 2018 $ (907) $ 1,179  $ —  $ 272 
Other comprehensive income (loss) before reclassifications, net of tax 160  (1,319) —  (1,159)
Balance at December 31, 2019 (747) (140) —  (887)
Other comprehensive income (loss) before reclassifications, net of tax 1,010  225  1,172  2,407 
Amounts reclassified, net of tax —  (85) —  (85)
Net current period other comprehensive income (loss) 1,010  140  1,172  2,322 
Balance at December 31, 2020 $ 263  $ —  $ 1,172  $ 1,435