Balance Sheet Components

3 Months Ended

Mar. 31, 2023

Notes To Financial Statements [Abstract]

Inventories consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Raw materials	$	146,435	$	172,758
Work in process	91,325		96,558
Finished goods	74,125		69,436
Total inventories	$	311,885	$	338,752

Prepaid expenses and other current assets consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Value added tax receivables	$	144,668	$	140,484
Prepaid expenses	84,363		69,124
Other current assets	22,509		16,762
Total prepaid expenses and other current assets	$	251,540	$	226,370

Accrued liabilities consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Accrued payroll and benefits	$	171,354	$	149,508
Accrued income taxes	105,038		74,323
Accrued expenses	51,212		64,341
Accrued sales and marketing expenses	36,227		36,407
Current operating lease liabilities	27,776		26,574
Accrued property, plant and equipment	18,186		19,922

Other accrued liabilities	87,455		83,299
Total accrued liabilities	$	497,248	$	454,374

Accrued warranty, which is included in the "Other accrued liabilities" category of the accrued liabilities table above, consists of the following activity (in thousands):


	Three Months Ended March 31,
	2023		2022
Balance at beginning of period	$	17,873	$	16,169
Charged to cost of net revenues	4,532		3,536
Actual warranty expenditures	(3,476)		(3,612)
Balance at end of period	$	18,929	$	16,093

Deferred revenues consist of the following (in thousands):


	March 31, 2023		December 31, 2022
Deferred revenues - current	$	1,376,789	$	1,343,643
Deferred revenues - long-term 1	$	157,341	$	160,662

1 Included in Other long-term liabilities within our Condensed Consolidated Balance Sheet

During the three months ended March 31, 2023 and 2022, we recognized $943.1 million and $973.2 million of net revenues, respectively, of which $205.7 million and $184.9 million was included in the deferred revenues balance at December 31, 2022 and 2021, respectively.

Our unfulfilled performance obligations, including deferred revenues and backlog, as of March 31, 2023 were $1,540.9 million. These performance obligations are expected to be fulfilled over six months to five years.