Balance Sheet Details
|6 Months Ended|
Jun. 30, 2021
|Balance Sheet Related Disclosures [Abstract]|
|Balance Sheet Details||Balance Sheet Details
Cash, cash equivalents and restricted cash consist of the following:
As of June 30, 2021 and December 31, 2020, cash and cash equivalents included money market funds of approximately $20.4 million. As of June 30, 2021 and December 31, 2020, the Company has restricted cash of approximately $1.1 million. The cash is restricted in connection with guarantees for certain import duties and office leases.
Inventory consists of the following:
Prepaid and other current assets consist of the following:
As of December 31, 2020, other receivables of $32.8 million consist of amounts due from Intel of $28.4 million for amounts collected on the Company’s behalf from customers on sales of the Company’s products under the transition services agreement and of $4.4 million for reimbursement of certain severance-related costs pursuant to the Asset Purchase Agreement (Note 3).
Property and equipment, net consists of the following:
Depreciation expense for the three and six months ended June 30, 2021 was $3.6 million and $7.3 million, respectively. Depreciation expense for the three and six months ended June 30, 2020 was $1.6 million and $3.3 million, respectively.
Included in other long-term assets, long-term investments were $5.0 million as of June 30, 2021 and consist of an investment in a privately held entity. The Company does not have the ability to exercise significant influence or control over such entity and has accounted for the investment as a financial instrument. Given that there is not a readily determinable fair value, the Company is electing to measure such investment at cost, less any impairment, and adjust the carrying value to fair value if any observable price changes for similar investments in the same entity are identified.
Accrued price protection liability consists of the following activity:
Accrued expenses and other current liabilities consist of the following:
As of December 31, 2020, payables under transition services agreement 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 under the transition services agreement.
The following table summarizes the change in balances of accumulated other comprehensive income (loss) by component:
The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef