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OTHER FINANCIAL STATEMENT INFORMATION | 6 Months Ended
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Jun. 28, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
OTHER FINANCIAL STATEMENT INFORMATION | OTHER FINANCIAL STATEMENT INFORMATION The following tables provide details of selected balance sheet components:
Accounts receivable, net: | As of
(in thousands) | June 28, 2024 |  | December 31, 2023
Accounts receivable | $ | 124,069 |  |  | $ | 144,731 |
Less: allowances for expected credit losses and sales returns | (4,070) |  |  | (3,200) |
Total | $ | 119,999 |  |  | $ | 141,531 |
Inventories, net: | As of
(in thousands) | June 28, 2024 |  | December 31, 2023
Finished goods | $ | 41,456 |  |  | $ | 43,987 |
Raw materials | 30,487 |  |  | 27,806 |
Work-in-process | 4,286 |  |  | 5,056 |
Service-related spares | 7,904 |  |  | 7,133 |
Total | $ | 84,133 |  |  | $ | 83,982 |
Prepaid expenses and other current assets: | As of
(in thousands) | June 28, 2024 |  | December 31, 2023
Prepaid expenses | $ | 9,592 |  |  | $ | 3,789 |
Contract assets | 3,700 |  |  | 4,772 |
Other current assets | 18,450 |  |  | 12,389 |
Total | $ | 31,742 |  |  | $ | 20,950 |
Property and equipment, net: | As of
(in thousands) | June 28, 2024 |  | December 31, 2023
Machinery and equipment | $ | 75,300 |  |  | $ | 74,659 |
Capitalized software | 26,992 |  |  | 27,129 |
Leasehold improvements | 36,797 |  |  | 40,931 |
Furniture and fixtures | 2,561 |  |  | 2,547 |
Construction-in-progress | 2,349 |  |  | 1,789 |
Property and equipment, gross | 143,999 |  |  | 147,055 |
Less: accumulated depreciation and amortization | (114,396) |  |  | (110,372) |
Total | $ | 29,603 |  |  | $ | 36,683 |
During the second quarter of fiscal 2024, we recorded an impairment charge of $4.2 million related to our leasehold improvements. Refer to Note 4, “Leases” for more details.
Other current liabilities: | As of
(in thousands) | June 28, 2024 |  | December 31, 2023
Accrued employee compensation and related expenses | $ | 22,225 |  |  | $ | 22,779 |
Other | 31,059 |  |  | 38,245 |
Total | $ | 53,284 |  |  | $ | 61,024 |

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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