EX-99.3 4 brhc10034340_ex99-3.htm EXHIBIT 99.3

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

|  | January 30, 2022 |  |  | October 31, 2021 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 314,195 |  |  | $ | 276,670 |
Accounts receivable |  |  | 170,673 |  |  |  | 174,447 |
Inventories |  |  | 61,971 |  |  |  | 55,249 |
Other current assets |  |  | 50,940 |  |  |  | 44,250 |
Total current assets |  |  | 597,779 |  |  |  | 550,616 |
Property, plant and equipment, net |  |  | 692,289 |  |  |  | 696,553 |
Other assets |  |  | 45,180 |  |  |  | 47,033 |
Total assets |  | $ | 1,335,248 |  |  | $ | 1,294,202 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 18,307 |  |  | $ | 22,248 |
Accounts payable and accrued liabilities |  |  | 172,787 |  |  |  | 153,900 |
Total current liabilities |  |  | 191,094 |  |  |  | 176,148 |
Long-term debt |  |  | 78,540 |  |  |  | 89,446 |
Other liabilities |  |  | 26,448 |  |  |  | 28,046 |
Photronics, Inc. shareholders' equity |  |  | 838,425 |  |  |  | 823,692 |
Noncontrolling interests |  |  | 200,741 |  |  |  | 176,870 |
Total equity |  |  | 1,039,166 |  |  |  | 1,000,562 |
Total liabilities and equity |  | $ | 1,335,248 |  |  | $ | 1,294,202 |