EX-99.3 4 brhc20053410_ex99-3.htm EXHIBIT 99.3

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

|  | April 30, 2023 |  |  | October 31, 2022 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 367,485 |  |  | $ | 319,680 |
Short-term investments |  |  | 45,431 |  |  |  | 38,820 |
Accounts receivable |  |  | 214,464 |  |  |  | 198,147 |
Inventories |  |  | 54,940 |  |  |  | 50,753 |
Other current assets |  |  | 37,796 |  |  |  | 37,252 |
Total current assets |  |  | 720,116 |  |  |  | 644,652 |
Property, plant and equipment, net |  |  | 699,917 |  |  |  | 643,873 |
Other assets |  |  | 30,992 |  |  |  | 27,305 |
Total assets |  | $ | 1,451,025 |  |  | $ | 1,315,830 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 7,017 |  |  | $ | 10,024 |
Accounts payable and accrued liabilities |  |  | 178,151 |  |  |  | 183,773 |
Total current liabilities |  |  | 185,168 |  |  |  | 193,797 |
Long-term debt |  |  | 21,322 |  |  |  | 32,310 |
Other liabilities |  |  | 39,851 |  |  |  | 27,634 |
Photronics, Inc. shareholders' equity |  |  | 928,047 |  |  |  | 831,527 |
Noncontrolling interests |  |  | 276,637 |  |  |  | 230,562 |
Total equity |  |  | 1,204,684 |  |  |  | 1,062,089 |
Total liabilities and equity |  | $ | 1,451,025 |  |  | $ | 1,315,830 |