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REVENUE (Tables) | 6 Months Ended
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Apr. 28, 2019
REVENUE [Abstract] |
Impacts of Adoption of Condensed Consolidated Balance Sheet, Condensed Consolidated Statements of Income and Cash Flows | The following tables present the impacts of our adoption of Topic 606 on our April 28, 2019, condensed consolidated balance sheet, and condensed consolidated statements of income for the three and six months ended April 28, 2019, and cash flows for the six months ended April 28, 2019. Condensed Consolidated Balance Sheet April 28, 2019
|  | As Reported |  |  | Adjustments |  |  | Balance without Adoption of Topic 606 |
Assets |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 123,371 |  |  | $ | (794 | ) |  | $ | 122,577 |
Inventory |  |  | 34,696 |  |  |  | 4,807 |  |  |  | 39,503 |
Other current assets |  |  | 38,304 |  |  |  | (6,237 | ) |  |  | 32,067 |
Deferred income taxes |  |  | 15,121 |  |  |  | 105 |  |  |  | 15,226 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | 58,659 |  |  | $ | 686 |  |  | $ | 59,345 |
Deferred income taxes |  |  | 829 |  |  |  | (367 | ) |  |  | 462 |
Equity |  |  |  |  |  |  |  |  |  |  |  |
Photronics, Inc. shareholders’ equity |  | $ | 763,568 |  |  | $ | (1,963 | ) |  | $ | 761,605 |
Noncontrolling interests |  |  | 134,760 |  |  |  | (475 | ) |  |  | 134,285 |
Condensed Consolidated Statement of Income Three Months Ended April 28, 2019
|  | As Reported |  |  | Adjustments |  |  | Balance without Adoption of Topic 606 |
Revenue |  | $ | 131,580 |  |  | $ | (242 | ) |  | $ | 131,338 |
Cost of goods sold |  |  | 105,570 |  |  |  | (162 | ) |  |  | 105,408 |
Gross profit |  |  | 26,010 |  |  |  | (80 | ) |  |  | 25,930 |
Provision for taxes |  |  | 3,278 |  |  |  | (48 | ) |  |  | 3,230 |
Net income |  |  | 9,852 |  |  |  | (128 | ) |  |  | 9,724 |
Noncontrolling interests |  |  | 1,373 |  |  |  | 78 |  |  |  | 1,451 |
Income attributable to Photronics, Inc. shareholders |  | $ | 8,479 |  |  | $ | (206 | ) |  | $ | 8,273 |
Condensed Consolidated Statement of Income Six Months Ended April 28, 2019
|  | As Reported |  |  | Adjustments |  |  | Balance without Adoption of Topic 606 |
Revenue |  | $ | 256,291 |  |  | $ | (2,524 | ) |  | $ | 253,767 |
Cost of goods sold |  |  | 204,179 |  |  |  | (1,041 | ) |  |  | 203,138 |
Gross profit |  |  | 52,112 |  |  |  | (1,483 | ) |  |  | 50,629 |
Provision for taxes |  |  | 4,665 |  |  |  | (178 | ) |  |  | 4,487 |
Net income |  |  | 17,620 |  |  |  | (1,305 | ) |  |  | 16,315 |
Noncontrolling interests |  |  | 3,874 |  |  |  | (353 | ) |  |  | 3,521 |
Income attributable to Photronics, Inc. shareholders |  | $ | 13,746 |  |  | $ | (952 | ) |  | $ | 12,794 |
Condensed Consolidated Statement of Cash Flows Six Months Ended April 28, 2019
|  | As Reported |  |  | Adjustments |  |  | Balance without Adoption of Topic 606 |
Net Income |  | $ | 17,620 |  |  | $ | (1,305 | ) |  | $ | 16,315 |
Changes in operating accounts: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | (2,295 | ) |  | $ | 211 |  |  | $ | (2,084 | )
Inventories |  |  | (9,447 | ) |  |  | (1,204 | ) |  |  | (10,651 | )
Other current assets |  |  | (6,114 | ) |  |  | 1,799 |  |  |  | (4,315 | )
Accounts payable, accrued liabilities, and other |  |  | (40,566 | ) |  |  | 499 |  |  |  | (40,067 | )
Disaggregation of Revenue | The following tables present our revenue for the three and six-month periods ended April 28, 2019, disaggregated by product type, geographic location, and timing of recognition.
Revenue by Product Type |  | Three Months Ended April 28, 2019 |  |  | Six Months Ended April 28, 2019 |
IC |  |  |  |  |  |
High-end |  | $ | 38,429 |  |  | $ | 72,995 |
Mainstream |  |  | 60,158 |  |  |  | 120,471 |
Total IC |  | $ | 98,587 |  |  | $ | 193,466 |
FPD |  |  |  |  |  |  |  |
High-end |  | $ | 22,956 |  |  | $ | 44,422 |
Mainstream |  |  | 10,037 |  |  |  | 18,403 |
Total FPD |  | $ | 32,993 |  |  | $ | 62,825 |
|  | $ | 131,580 |  |  | $ | 256,291 |
Revenue by Geographic Location |  |  |  |  |
Taiwan |  | $ | 56,469 |  |  | $ | 114,209 |
Korea |  |  | 38,038 |  |  |  | 73,275 |
United States |  |  | 26,742 |  |  |  | 49,215 |
Europe |  |  | 8,435 |  |  |  | 16,788 |
China |  |  | 1,467 |  |  |  | 1,730 |
Other |  |  | 429 |  |  |  | 1,074 |
|  | $ | 131,580 |  |  | $ | 256,291 |
Revenue by Timing of Recognition |  |  |  |  |
Over time |  | $ | 123,853 |  |  | $ | 244,699 |
At a point in time |  |  | 7,727 |  |  |  | 11,592 |
|  | $ | 131,580 |  |  | $ | 256,291 |

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