EX-99.3 4 brhc10028318_ex99-3.htm EXHIBIT 99.3

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

|  | August 1, 2021 |  |  | October 31, 2020 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 283,249 |  |  | $ | 278,665 |
Accounts receivable |  |  | 151,190 |  |  |  | 134,470 |
Inventories |  |  | 53,165 |  |  |  | 57,269 |
Other current assets |  |  | 42,860 |  |  |  | 29,735 |
Total current assets |  |  | 530,464 |  |  |  | 500,139 |
Property, plant and equipment, net |  |  | 699,609 |  |  |  | 631,475 |
Intangible assets, net |  |  | 904 |  |  |  | 3,437 |
Other assets |  |  | 50,780 |  |  |  | 53,131 |
Total assets |  | $ | 1,281,757 |  |  | $ | 1,188,182 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Debt |  | $ | 25,163 |  |  | $ | 13,678 |
Accounts payable and accrued liabilities |  |  | 142,454 |  |  |  | 129,261 |
Total current liabilities |  |  | 167,617 |  |  |  | 142,939 |
Long-term debt |  |  | 92,740 |  |  |  | 54,980 |
Other liabilities |  |  | 26,939 |  |  |  | 27,997 |
Photronics, Inc. shareholders' equity |  |  | 817,892 |  |  |  | 804,962 |
Noncontrolling interests |  |  | 176,569 |  |  |  | 157,304 |
Total equity |  |  | 994,461 |  |  |  | 962,266 |
Total liabilities and equity |  | $ | 1,281,757 |  |  | $ | 1,188,182 |