Balance Sheet Components

9 Months Ended

Sep. 30, 2022

Notes To Financial Statements [Abstract]

Balance Sheet Components

Balance Sheet Components

Inventories consist of the following (in thousands):

	September 30, 2022		December 31, 2021
Raw materials	$	147,629	$	123,234
Work in process	101,179		51,706
Finished goods	72,095		55,290
Total inventories	$	320,903	$	230,230

Prepaid expenses and other current assets consist of the following (in thousands):

	September 30, 2022		December 31, 2021
Value added tax receivables	$	132,070	$	93,610
Prepaid expenses	50,567		70,218
Other current assets	46,646		31,477
Total prepaid expenses and other current assets	$	229,283	$	195,305

Accrued liabilities consist of the following (in thousands): 

	September 30, 2022		December 31, 2021
Accrued payroll and benefits	$	137,754	$	288,355
Accrued expenses	66,859		67,169
Accrued sales and marketing expenses	35,661		41,387
Current operating lease liabilities	24,173		22,719
Accrued property, plant and equipment	22,648		46,561
Accrued professional fees	21,260		31,457
Other accrued liabilities	75,263		109,667
Total accrued liabilities	$	383,618	$	607,315

Accrued warranty, which is included in the "Other accrued liabilities" category of the accrued liabilities table above, consists of the following activity (in thousands):

	Nine Months Ended September 30,
	2022		2021
Balance at beginning of period	$	16,169	$	12,615
Charged to cost of net revenues	11,359		13,400
Actual warranty expenditures	(11,109)		(11,040)
Balance at end of period	$	16,419	$	14,975

Deferred revenues consist of the following (in thousands):

	September 30, 2022		December 31, 2021
Deferred revenues - current	$	1,286,867	$	1,152,870
Deferred revenues - long-term 1	$	152,070	$	136,684

1 Included in Other long-term liabilities within our Condensed Consolidated Balance Sheet

During the three months ended September 30, 2022 and 2021, we recognized $890.3 million and $1,015.9 million of net revenues, respectively, of which $156.5 million and $122.2 million was included in the deferred revenues balance at December 31, 2021 and 2020, respectively.

During the nine months ended September 30, 2022 and 2021, we recognized $2,833.1 million and $2,921.5 million of net revenues, respectively, of which $519.8 million and $382.4 million was included in the deferred revenues balance at December 31, 2021 and 2020, respectively.

Our unfulfilled performance obligations, including deferred revenues and backlog, as of September 30, 2022 were $1,442.5 million. These performance obligations are expected to be fulfilled over six months to five years.