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Balance Sheet Components | 6 Months Ended
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Jun. 26, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Balance Sheet Components | BALANCE SHEET COMPONENTS The following tables provide details of selected balance sheet components (in thousands):
| June 26, 2020 |  | December 31, 2019
Accounts receivable, net: |  |  |
Accounts receivable | $ | 77,163 |  |  | $ | 91,513 |
Less: allowances for doubtful accounts and sales returns | (2,382 | ) |  | (3,013 | )
Total | $ | 74,781 |  |  | $ | 88,500 |
| June 26, 2020 |  | December 31, 2019
Inventories, net: |  |  |
Raw materials | $ | 3,776 |  |  | $ | 4,179 |
Work-in-process | 1,458 |  |  | 1,633 |
Finished goods | 18,546 |  |  | 14,080 |
Service-related spares | 8,317 |  |  | 9,150 |
Total | $ | 32,097 |  |  | $ | 29,042 |
| June 26, 2020 |  | December 31, 2019
Prepaid expenses and other current assets: |  |  |
French R&D tax credits receivable(1) | $ | — |  |  | $ | 7,343 |
Contract assets(2) | 4,289 |  |  | 13,969 |
Deferred cost of revenue | 5,072 |  |  | 2,631 |
Prepaid maintenance, royalty, rent, and property taxes | 3,153 |  |  | 1,594 |
Capitalized sales commissions | 1,529 |  |  | 1,309 |
Other | 9,212 |  |  | 13,916 |
Total | $ | 23,255 |  |  | $ | 40,762 |
(1) The Company’s French subsidiary participates in the French Crédit d’Impôt Recherche program (the “R&D tax credits”) which allows companies to monetize eligible research expenses. The R&D tax credits can be used to offset against income tax payable to the French government in each of the four years after being incurred, or if not utilized, are recoverable in cash. The amount of R&D tax credits recoverable are subject to audit by the French government. The R&D tax credits receivable at June 26, 2020 were approximately $17.8 million and are expected to be recoverable from 2021 through 2023. See “Other long-term assets”. (2) Contract assets reflect the satisfied performance obligations for which the Company does not yet have an unconditional right to consideration.
| June 26, 2020 |  | December 31, 2019
Property and equipment, net: |  |  |
Machinery and equipment | $ | 73,508 |  |  | $ | 75,229 |
Capitalized software | 35,027 |  |  | 34,190 |
Construction in progress* | 25,549 |  |  | 5,506 |
Leasehold improvements | 15,674 |  |  | 15,170 |
Furniture and fixtures | 8,939 |  |  | 6,036 |
Property and equipment, gross | 158,697 |  |  | 136,131 |
Less: accumulated depreciation and amortization | (117,356 | ) |  | (113,203 | )
Total | $ | 41,341 |  |  | $ | 22,928 |
*During fiscal 2019, the Company entered into a lease for a new facility which will become the Company’s new headquarters in 2020. The new lease commenced in May 2019, as the facility was made available to the Company for constructing leasehold improvements. Construction in progress includes $22.9 million for constructing leasehold improvements in the new headquarters facility.
| June 26, 2020 |  | December 31, 2019
Other long-term assets: |  |  |
French R&D tax credits receivable | $ | 17,843 |  |  | $ | 15,899 |
Deferred tax assets | 9,958 |  |  | 10,575 |
Equity investment | 3,593 |  |  | 3,593 |
Other | 9,808 |  |  | 11,238 |
Total | $ | 41,202 |  |  | $ | 41,305 |
| June 26, 2020 |  | December 31, 2019
Accrued and other current liabilities: |  |  |
Accrued employee compensation and related expenses | $ | 16,163 |  |  | $ | 19,454 |
Operating lease liability (short-term) | 7,995 |  |  | 8,881 |
Customer deposits | 4,767 |  |  | 3,557 |
Accrued warranty | 3,818 |  |  | 4,308 |
Accrued royalty payments | 2,657 |  |  | 2,642 |
Accrued Avid litigation settlement, current | 2,000 |  |  | 2,000 |
Contingent inventory reserves | 1,453 |  |  | 2,208 |
Others | 16,513 |  |  | 19,485 |
Total | $ | 55,366 |  |  | $ | 62,535 |
| June 26, 2020 |  | December 31, 2019
Other non-current liabilities: |  |  |
Operating lease liability (long-term) | $ | 24,604 |  |  | $ | 25,766 |
Deferred revenue (long-term) | 7,089 |  |  | 6,333 |
Others | 9,415 |  |  | 9,155 |
Total | $ | 41,108 |  |  | $ | 41,254 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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