EX-99.3 4 brhc10045360_ex99-3.htm EXHIBIT 99.3

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

|  | October 31, 2022 |  |  | October 31, 2021 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 319,680 |  |  | $ | 276,670 |
Short-term investments |  |  | 38,820 |  |  |  | - |
Accounts receivable |  |  | 198,147 |  |  |  | 174,447 |
Inventories |  |  | 50,753 |  |  |  | 55,249 |
Other current assets |  |  | 37,252 |  |  |  | 44,250 |
Total current assets |  |  | 644,652 |  |  |  | 550,616 |
Property, plant and equipment, net |  |  | 643,873 |  |  |  | 696,553 |
Other assets |  |  | 27,305 |  |  |  | 47,033 |
Total assets |  | $ | 1,315,830 |  |  | $ | 1,294,202 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 10,024 |  |  | $ | 22,248 |
Accounts payable and accrued liabilities |  |  | 183,773 |  |  |  | 153,900 |
Total current liabilities |  |  | 193,797 |  |  |  | 176,148 |
Long-term debt |  |  | 32,310 |  |  |  | 89,446 |
Other liabilities |  |  | 27,634 |  |  |  | 28,046 |
Photronics, Inc. shareholders' equity |  |  | 831,527 |  |  |  | 823,692 |
Noncontrolling interests |  |  | 230,562 |  |  |  | 176,870 |
Total equity |  |  | 1,062,089 |  |  |  | 1,000,562 |
Total liabilities and equity |  | $ | 1,315,830 |  |  | $ | 1,294,202 |