EX-99.3 4 brhc10014680_ex99-3.htm EXHIBIT 99.3

Exhibit 99.3
PHOTRONICS, INC.
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)

|  | August 2, 2020 |  |  | October 31, 2019 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 260,597 |  |  | $ | 206,530 |
Accounts receivable |  |  | 146,843 |  |  |  | 134,454 |
Inventories |  |  | 54,733 |  |  |  | 48,155 |
Other current assets |  |  | 48,468 |  |  |  | 38,388 |
Total current assets |  |  | 510,641 |  |  |  | 427,527 |
Property, plant and equipment, net |  |  | 623,247 |  |  |  | 632,441 |
Intangible assets, net |  |  | 4,535 |  |  |  | 7,870 |
Other assets |  |  | 57,419 |  |  |  | 50,827 |
Total assets |  | $ | 1,195,842 |  |  | $ | 1,118,665 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Debt |  | $ | 14,683 |  |  | $ | 10,873 |
Accounts payable and accrued liabilities |  |  | 160,626 |  |  |  | 141,081 |
Total current liabilities |  |  | 175,309 |  |  |  | 151,954 |
Long-term debt |  |  | 38,183 |  |  |  | 41,887 |
Other liabilities |  |  | 25,665 |  |  |  | 13,732 |
Photronics, Inc. shareholders' equity |  |  | 790,242 |  |  |  | 769,892 |
Noncontrolling interests |  |  | 166,443 |  |  |  | 141,200 |
Total equity |  |  | 956,685 |  |  |  | 911,092 |
Total liabilities and equity |  | $ | 1,195,842 |  |  | $ | 1,118,665 |