Quarterly report pursuant to Section 13 or 15(d)

Balance Sheet Details (Tables)

v3.22.1
Balance Sheet Details (Tables)
3 Months Ended
Mar. 31, 2022
Balance Sheet Related Disclosures [Abstract]  
Schedule of Cash and Cash Equivalents Cash, cash equivalents and restricted cash consist of the following:
March 31, 2022 December 31, 2021
(in thousands)
Cash and cash equivalents $ 151,111  $ 130,572 
Short-term restricted cash 105  105 
Long-term restricted cash 1,037  1,061 
Total cash, cash equivalents and restricted cash $ 152,253  $ 131,738 
Restrictions on Cash and Cash Equivalents Cash, cash equivalents and restricted cash consist of the following:
March 31, 2022 December 31, 2021
(in thousands)
Cash and cash equivalents $ 151,111  $ 130,572 
Short-term restricted cash 105  105 
Long-term restricted cash 1,037  1,061 
Total cash, cash equivalents and restricted cash $ 152,253  $ 131,738 
Inventory Inventory consists of the following:
March 31, 2022 December 31, 2021
(in thousands)
Work-in-process $ 74,191  $ 72,369 
Finished goods 64,850  59,334 
$ 139,041  $ 131,703 
Property and Equipment Property and equipment, net consists of the following:
Useful Life
(in Years)
March 31, 2022 December 31, 2021
(in thousands)
Furniture and fixtures 5 $ 3,956  $ 3,917 
Machinery and equipment
3-5
66,524  65,004 
Masks and production equipment
2-5
32,284  32,099 
Software 3 8,921  8,763 
Leasehold improvements
1-5
31,239  30,889 
Construction in progress N/A 5,891  4,647 
148,815  145,319 
Less: accumulated depreciation and amortization (88,793) (84,395)
$ 60,022  $ 60,924 
Price Protection Liability Accrued price protection liability consists of the following activity:
Three Months Ended March 31,
2022 2021
(in thousands)
Beginning balance $ 40,509  $ 47,766 
Charged as a reduction of revenue 41,473  24,423 
Payments (13,633) (17,160)
Ending balance $ 68,349  $ 55,029 
Accrued Expenses Accrued expenses and other current liabilities consist of the following:
March 31, 2022 December 31, 2021
(in thousands)
Accrued technology license payments $ 5,988  $ 7,337 
Accrued professional fees 3,565  3,651 
Accrued engineering and production costs 4,076  2,934 
Accrued restructuring 295  320 
Accrued royalty 1,911  2,080 
Short-term lease liabilities 8,588  8,888 
Accrued customer credits 1,932  5,136 
Income tax liability 7,931  7,105 
Customer contract liabilities 1,089  1,044 
Accrued obligations to customers for price adjustments 29,226  6,721 
Accrued obligations to customers for stock rotation rights 2,498  2,847 
Other 8,454  9,205 
$ 75,553  $ 57,268 
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, 2021 $ 21  $ 2,104  $ 2,125 
Other comprehensive income (loss) before reclassifications, net of tax (1,075) —  (1,075)
Balance at March 31, 2022 $ (1,054) $ 2,104  $ 1,050