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Balance Sheet Components | 9 Months Ended
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Sep. 25, 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):
| September 25, 2020 |  | December 31, 2019
Accounts receivable, net: |  |  |
Accounts receivable | $ | 84,240 |  |  | $ | 91,513 |
Less: allowances for doubtful accounts and sales returns | (2,887 | ) |  | (3,013 | )
Total | $ | 81,353 |  |  | $ | 88,500 |
| September 25, 2020 |  | December 31, 2019
Inventories, net: |  |  |
Raw materials | $ | 4,791 |  |  | $ | 4,179 |
Work-in-process | 1,954 |  |  | 1,633 |
Finished goods | 21,784 |  |  | 14,080 |
Service-related spares | 8,273 |  |  | 9,150 |
Total | $ | 36,802 |  |  | $ | 29,042 |
| September 25, 2020 |  | December 31, 2019
Prepaid expenses and other current assets: |  |  |
French R&D tax credits receivable(1) | $ | 6,170 |  |  | $ | 7,343 |
Contract assets(2) | 4,067 |  |  | 13,969 |
Deferred cost of revenue | 2,062 |  |  | 2,631 |
Prepaid maintenance, royalty and property taxes | 2,718 |  |  | 1,594 |
Capitalized sales commissions | 1,502 |  |  | 1,309 |
Other | 8,552 |  |  | 13,916 |
Total | $ | 25,071 |  |  | $ | 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 total R&D tax credits receivable at September 25, 2020 were approximately $19.5 million and are expected to be recoverable from 2021 through 2024. See “Other long-term assets” for the long-term portion of the French R&D tax credits receivable. (2) Contract assets reflect the satisfied performance obligations for which the Company does not yet have an unconditional right to consideration.
| September 25, 2020 |  | December 31, 2019
Property and equipment, net: |  |  |
Machinery and equipment | $ | 71,874 |  |  | $ | 75,229 |
Capitalized software | 36,345 |  |  | 34,190 |
Construction in progress* | 1,870 |  |  | 5,506 |
Leasehold improvements | 37,436 |  |  | 15,170 |
Furniture and fixtures | 2,779 |  |  | 6,036 |
Property and equipment, gross | 150,304 |  |  | 136,131 |
Less: accumulated depreciation and amortization | (108,389 | ) |  | (113,203 | )
Total | $ | 41,915 |  |  | $ | 22,928 |
*During the third quarter of 2020, the Company completed construction of its leasehold improvements for the new headquarters facility and transferred $22.9 million of assets from Construction in progress to Leasehold improvements.
| September 25, 2020 |  | December 31, 2019
Other long-term assets: |  |  |
French R&D tax credits receivable(3) | $ | 13,345 |  |  | $ | 15,899 |
Deferred tax assets | 9,876 |  |  | 10,575 |
Equity investment | 3,593 |  |  | 3,593 |
Other | 9,438 |  |  | 11,238 |
Total | $ | 36,252 |  |  | $ | 41,305 |
(3) See “Prepaid expenses and other current assets” for details related to French R&D tax credits receivable.
| September 25, 2020 |  | December 31, 2019
Accrued and other current liabilities: |  |  |
Accrued employee compensation and related expenses | $ | 18,806 |  |  | $ | 19,454 |
Operating lease liability | 6,653 |  |  | 8,881 |
Customer deposits | 3,552 |  |  | 3,557 |
Accrued warranty | 3,581 |  |  | 4,308 |
Accrued royalty payments | 2,627 |  |  | 2,642 |
Accrued Avid litigation settlement | — |  |  | 2,000 |
Contingent inventory reserves | 1,323 |  |  | 2,208 |
Others | 14,744 |  |  | 19,485 |
Total | $ | 51,286 |  |  | $ | 62,535 |
| September 25, 2020 |  | December 31, 2019
Other non-current liabilities: |  |  |
Operating lease liability | $ | 23,833 |  |  | $ | 25,766 |
Deferred revenue | 6,921 |  |  | 6,333 |
Others | 10,450 |  |  | 9,155 |
Total | $ | 41,204 |  |  | $ | 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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