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Balance Sheet Details
9 Months Ended
Mar. 31, 2019
Balance Sheet Details  
Balance Sheet Details

3. Balance Sheet Details

 

The following tables provide details of selected balance sheet accounts (in thousands):

 

 

 

 

 

 

 

 

 

 

June 30, 

 

March 31, 

 

    

2018

    

2019

Accounts receivable

 

$

225,336

 

$

234,411

Less allowance for doubtful accounts

 

 

(14,592)

 

 

(15,978)

Total

 

$

210,744

 

$

218,433

 

 

 

 

 

 

 

 

 

 

June 30, 

 

March 31, 

 

    

2018

    

2019

Raw materials

 

$

156,612

 

$

151,383

Work-in-process

 

 

89,468

 

 

79,188

Finished goods

 

 

67,472

 

 

67,133

Total

 

$

313,552

 

$

297,704

 

 

 

 

 

 

 

 

 

 

June 30, 

 

March 31, 

 

    

2018

    

2019

Land

 

$

16,569

 

$

16,561

Buildings, civil works and improvements

 

 

56,585

 

 

55,322

Leasehold improvements

 

 

9,681

 

 

7,903

Equipment and tooling

 

 

117,294

 

 

127,579

Furniture and fixtures

 

 

3,331

 

 

3,202

Computer equipment

 

 

18,759

 

 

18,199

Computer software

 

 

19,509

 

 

19,647

Computer software implementation in process

 

 

4,318

 

 

7,747

Construction in process

 

 

790

 

 

4,682

Total

 

 

246,836

 

 

260,842

Less accumulated depreciation and amortization

 

 

(131,312)

 

 

(135,926)

Property and equipment, net

 

$

115,524

 

$

124,916

 

Depreciation expense was $5.4 million and $5.1 million for the three months ended March 31, 2018 and 2019, respectively, and approximately $38.4 million and $15.4 million for the nine months ended March 31, 2018 and 2019, respectively. The year-over-year decrease in depreciation for the nine months ended March 31, 2019 is due to certain assets becoming fully depreciated in fiscal year 2018, as well as the transfer of certain assets as discussed below.

 

In January 2018, we entered into a two-year agreement with the Mexican government to continue providing security screening services. Upon inception of the contract, we transferred certain fixed assets with a net book value of $29.5 million to the customer, and this remaining cost to obtain the contract is amortized on a straightline basis over the term of the contract as corresponding revenues are recognized. During the three and nine months ended March 31, 2019, we recognized $3.6 million and $10.7 million, respectively, of amortization expense related to such assets. For the three and nine months ended March 31, 2018, we recognized $3.2 million of amortization expense related to such assets. As of March 31, 2019, $11.1 million was recorded within Prepaid expenses and other current assets.