BALANCE SHEET COMPONENTS

9 Months Ended

Jul. 02, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

2. BALANCE SHEET COMPONENTS

The following tables reflect the components of significant balance sheet accounts as of July 2, 2022 and October 2, 2021:


	As of
(in thousands)	July 2, 2022		October 2, 2021

Short-term investments, available-for-sale (1)	$	300,000	$	377,000

Inventories, net:
Raw materials and supplies	$	126,593	$	94,493
Work in process	69,426		55,866
Finished goods	40,363		40,006
	236,382		190,365
Inventory reserves	(21,101)		(23,042)
	$	215,281	$	167,323
Property, plant and equipment, net:
Land	$	2,182	$	2,182
Buildings and building improvements	23,116		23,314
Leasehold improvements	32,120		30,054
Data processing equipment and software	40,836		40,945
Machinery, equipment, furniture and fixtures	90,465		87,994
Construction in progress	10,728		9,562
	199,447		194,051
Accumulated depreciation	(132,937)		(126,069)
	$	66,510	$	67,982
Accrued expenses and other current liabilities:

Accrued customer obligations (2)	$	67,063	$	72,478
Wages and benefits	47,833		66,531
Dividends payable	9,970		8,673
Commissions and professional fees	5,459		6,190

Severance	—		31
Other	8,109		7,667
	$	138,434	$	161,570

(1)All short-term investments were classified as available-for-sale and the fair value approximates cost basis. The Company did not recognize any realized gains or losses on the sale of investments during the three and nine months ended July 2, 2022 and July 3, 2021.

(2)Represents customer advance payments, customer credit program, accrued warranty expense and accrued retrofit obligations.