BALANCE SHEET COMPONENTS

6 Months Ended

Apr. 01, 2023

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 April 1, 2023 and October 1, 2022:


	As of
(in thousands)	April 1, 2023		October 1, 2022

Short-term investments, available-for-sale (1)	$	345,000	$	220,000

Inventories, net:
Raw materials and supplies	$	137,218	$	118,833
Work in process	57,429		40,114
Finished goods	48,913		45,277
	243,560		204,224
Inventory reserves	(19,401)		(19,238)
	$	224,159	$	184,986
Property, plant and equipment, net:
Land	$	2,182	$	2,182
Buildings and building improvements	23,186		22,783
Leasehold improvements	74,888		32,400
Data processing equipment and software	36,102		38,223
Machinery, equipment, furniture and fixtures	93,507		90,151
Construction in progress	14,195		25,004
	244,060		210,743
Accumulated depreciation	(133,380)		(129,835)
	$	110,680	$	80,908
Accrued expenses and other current liabilities:

Accrued customer obligations (2)	$	52,861	$	58,916
Wages and benefits	25,006		50,279
Dividends payable	10,766		9,743
Commissions and professional fees	4,179		5,019

Severance	42		19
Other	19,447		10,565
	$	112,301	$	134,541

(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 six months ended April 1, 2023 and April 2, 2022.

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