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Balance sheet components (Tables) | 9 Months Ended
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Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of accounts receivable | Accounts receivable, net of allowances, consist of the following:
| June 27, 2020 |  | September 28, 2019
(In thousands) |  |  |
Accounts receivable | $ | 65,450 |  |  | $ | 124,049 |
Allowance for doubtful accounts | (1,369) |  |  | (1,255) |
Allowance for sales incentives | (13,723) |  |  | (20,051) |
Accounts receivable, net of allowances | $ | 50,358 |  |  | $ | 102,743 |
Schedule of inventories, net | Inventories consist of the following:
| June 27, 2020 |  | September 28, 2019
(In thousands) |  |  |
Finished goods | $ | 78,727 |  |  | $ | 207,723 |
Component parts | 9,714 |  |  | 12,061 |
Inventories | $ | 88,441 |  |  | $ | 219,784 |
Schedule of goodwill | The following table presents details of the Company's goodwill for the nine months ended June 27, 2020:
(In thousands) |
Balance as of September 28, 2019 | $ | 1,005 |
Goodwill acquired | 14,282 |
Purchase price adjustment | 258 |
Balance as of June 27, 2020 | $ | 15,545 |
Schedule of finite-lived intangible assets, future amortization expense | The following table reflects the changes in the net carrying amount of the components of intangible assets associated with the Company's acquisition activity:
| June 27, 2020 |  |  |  |  |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Weighted-Average Remaining Life
(In thousands, except weighted-average remaining life) |  |  |  |  |  |  |
Technology | $ | 7,583 |  |  | $ | (929) |  |  | $ | 6,654 |  |  | 3.80
Other | 39 |  |  | (11) |  |  | 28 |  |  | 1.42
Total finite-lived intangible assets | 7,622 |  |  | (940) |  |  | 6,682 |  |  | 3.79
In-process research and development and other intangible assets not subject to amortization | 20,100 |  |  | — |  |  | 20,100 |  |  |
Total intangible assets | $ | 27,722 |  |  | $ | (940) |  |  | $ | 26,782 |  |  |
The following table summarizes estimated future amortization expense of the Company's intangible assets as of June 27, 2020:
Fiscal years ending | Future Amortization Expense
(In thousands) |
Remainder of fiscal 2020 | $ | 475 |
2021 | 1,899 |
2022 | 1,883 |
2023 | 1,235 |
2024 | 1,020 |
2025 and thereafter | 170 |
Total future amortization expense | $ | 6,682 |
Schedule of accrued expenses | Accrued expenses consist of the following:
| June 27, 2020 |  | September 28, 2019
(In thousands) |  |  |
Accrued advertising and marketing | $ | 10,180 |  |  | $ | 25,662 |
Accrued taxes | 9,861 |  |  | 4,388 |
Accrued inventory | 2,844 |  |  | 6,494 |
Accrued manufacturing, logistics and product development | 13,654 |  |  | 14,783 |
Accrued general and administrative expenses | 6,927 |  |  | 12,455 |
Other accrued payables | 4,284 |  |  | 6,074 |
Total accrued expenses | $ | 47,750 |  |  | $ | 69,856 |
Changes in deferred balances and expected revenue recognition | The following table presents the changes in the Company’s deferred revenue for the nine months ended June 27, 2020 and June 29, 2019:
| June 27, 2020 |  | June 29, 2019
(In thousands) |  |  |
Deferred revenue, beginning of period | $ | 56,449 |  |  | $ | 50,967 |
Recognition of revenue included in beginning of period deferred revenue | (10,210) |  |  | (8,827) |
Revenue deferred, net of revenue recognized on contracts in the respective period | 14,126 |  |  | 13,966 |
Deferred revenue, end of period | $ | 60,365 |  |  | $ | 56,106 |
Remaining performance obligation | The Company expects the following recognition of deferred revenue as of June 27, 2020:
| For the fiscal years ending |  |  |  |  |  |  |  |  |  |
| 2020 |  | 2021 |  |  | 2022 |  | 2023 |  | 2024 and Beyond |  | Total
(In thousands) |  |  |  |  |  |  |  |  |  |  |
Deferred revenue expected to be recognized | $ | 3,865 |  |  | $ | 14,271 |  |  | $ | 12,425 |  |  | $ | 10,497 |  |  | $ | 19,307 |  |  | $ | 60,365 |
Schedule of other current liabilities | Other current liabilities consist of the following:
| June 27, 2020 |  | September 28, 2019
(In thousands) |  |  |
Reserve for returns | $ | 12,284 |  |  | $ | 12,110 |
Short-term operating lease liabilities | 11,626 |  |  | — |
Product warranty liability | 3,206 |  |  | 3,254 |
Other | 2,235 |  |  | 2,184 |
Total other current liabilities | $ | 29,351 |  |  | $ | 17,548 |
Schedule of product warranty liability | The following table presents the changes in the Company’s warranty liability for the nine months ended June 27, 2020 and June 29, 2019:
| June 27, 2020 |  | June 29, 2019
(In thousands) |  |  |
Warranty liability, beginning of period | $ | 3,254 |  |  | $ | 2,450 |
Provision for warranties issued during the period | 9,609 |  |  | 9,474 |
Settlements of warranty claims during the period | (9,657) |  |  | (8,828) |
Warranty liability, end of period | $ | 3,206 |  |  | $ | 3,096 |

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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249 + Details
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