EX-99.3 4 ef20034494_ex99-3.htm EXHIBIT 99.3

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

|  | July 28, |  |  | October 31, |
|  | 2024 |  |  | 2023 |
Assets |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 537,331 |  |  | $ | 499,292 |
Short-term investments |  |  | 69,046 |  |  |  | 12,915 |
Accounts receivable |  |  | 199,926 |  |  |  | 194,927 |
Inventories |  |  | 55,472 |  |  |  | 49,963 |
Other current assets |  |  | 30,865 |  |  |  | 28,353 |
Total current assets |  |  | 892,640 |  |  |  | 785,450 |
Property, plant and equipment, net |  |  | 722,638 |  |  |  | 709,244 |
Other assets |  |  | 29,823 |  |  |  | 31,527 |
Total assets |  | $ | 1,645,101 |  |  | $ | 1,526,221 |
Liabilities and Equity |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 20,090 |  |  | $ | 6,621 |
Accounts payable and accrued liabilities |  |  | 171,036 |  |  |  | 178,602 |
Total current liabilities |  |  | 191,126 |  |  |  | 185,223 |
Long-term debt |  |  | 28 |  |  |  | 17,998 |
Other liabilities |  |  | 40,518 |  |  |  | 47,391 |
Equity: |  |  |  |  |  |  |  |
Photronics, Inc. shareholders' equity |  |  | 1,067,994 |  |  |  | 975,008 |
Noncontrolling interests |  |  | 345,435 |  |  |  | 300,601 |
Total equity |  |  | 1,413,429 |  |  |  | 1,275,609 |
Total liabilities and equity |  | $ | 1,645,101 |  |  | $ | 1,526,221 |