BALANCE SHEET DETAILS

Cash, Cash Equivalents and Short-Term Investments

The following table provides details regarding our cash, cash equivalents and short-term investments at the dates indicated:



	April 1, 2017		July 2, 2016
	(Thousands)
Cash and cash equivalents:
Cash-in-bank	$	67,803	$	70,925
Money market funds	95,825		25,004
Commercial paper	19,996		—
Corporate bonds	22,449		—
U.S. Treasury securities	3,995		—
U.S. agency securities	3,995		—
	$	214,063	$	95,929

Short-term investments:
Commercial paper	$	23,961	$	—
Corporate bonds	8,051		—
U.S. Treasury securities	3,998		—
U.S. agency securities	3,995		—
	$	40,005	$	—

We classify short-term investments, which consist primarily of securities purchased with original maturities at date of purchase of more than three months and less than one year, as “available for sale securities”. These short-term investments are reported at market value, with the aggregate unrealized holding gains and losses reported as a component of accumulated other comprehensive income in stockholders’ equity. All realized gains and losses and unrealized losses resulting from declines in fair value that are other than temporary and not involving credit losses are recorded in the consolidated statements of operations in the period they occur.

Restricted Cash

As of April 1, 2017, we had restricted cash of $1.1 million, comprised of $0.7 million in current assets and $0.4 million in other non-current assets, representing collateral for the performance of our obligations under certain lease facility agreements, collateral to secure certain of our credit card accounts and deposits for value-added taxes in foreign jurisdictions.

Inventories

The following table provides details regarding our inventories at the dates indicated:



	April 1, 2017		July 2, 2016
	(Thousands)
Inventories:
Raw materials	$	25,067	$	23,751
Work-in-process	35,061		32,819
Finished goods	28,548		19,799
	$	88,676	$	76,369

Property and Equipment, Net

The following table provides details regarding our property and equipment, net at the dates indicated:



	April 1, 2017			July 2, 2016
	(Thousands)
Property and equipment, net:
Buildings and improvements	$	9,691		$	10,389
Plant and machinery	83,367			59,696
Fixtures, fittings and equipment	2,875			3,005
Computer equipment	11,583			9,846
	107,516			82,936
Less: Accumulated depreciation	(7,057		)	(17,891		)
	$	100,459		$	65,045

Property and equipment includes assets under capital leases of $3.9 million and $5.9 million at April 1, 2017 and July 2, 2016, respectively. Amortization associated with assets under capital leases is recorded in depreciation expense. During the nine months ended April 1, 2017, we disposed and/or sold approximately $13.0 million of fully depreciated property and equipment related to our high-bit products.

Other Intangible Assets, Net

The following table summarizes the activity related to our other intangible assets for the nine months ended April 1, 2017:



	Core and Current Technology		Development and Supply Agreements			Customer Relationships		Patent Portfolio		Other Intangibles		Amortization			Total
	(Thousands)
Balance at July 2, 2016	$	6,249	$	4,509		$	2,402	$	915	$	3,338	$	(15,915	)	$	1,498
Amortization	—		—			—		—		—		(635		)	(635		)
Translations and adjustments	—		(23		)	—		—		—		—			(23		)
Balance at April 1, 2017	$	6,249	$	4,486		$	2,402	$	915	$	3,338	$	(16,550	)	$	840

We expect the amortization of intangible assets to be $0.2 million for the remainder of fiscal year 2017 and $0.6 million for fiscal year 2018, based on the current level of our other intangible assets as of April 1, 2017.

Accrued Expenses and Other Liabilities

The following table presents details regarding our accrued expenses and other liabilities at the dates indicated:



	April 1, 2017		July 2, 2016
	(Thousands)
Accrued expenses and other liabilities:
Trade payables	$	11,208	$	6,429
Compensation and benefits related accruals	12,385		14,038
Warranty accrual	4,659		3,827
Accrued restructuring, current	—		204
Purchase commitments in excess of future demand, current	5,292		1,723
Other accruals	10,487		8,597
	$	44,031	$	34,818

Common Stock

In August 2016, we issued a total of 34,659,972 shares of our common stock in connection with the cancellation of our 6.00% Notes. See Note 5, Credit Line and Notes, for additional information.

On September 21, 2016, we entered into an underwriting agreement (the “Underwriting Agreement”) with Jefferies LLC, as representative of the several underwriters (the “Underwriters”), relating to the offering, issuance and sale (the “Offering”) of 15.0 million shares of our common stock, par value $0.01 per share (the “Common Stock”). The price to the public in the Offering was $8.35 per share. Under the terms of the Underwriting Agreement, we granted the Underwriters a 30-day option to purchase up to an additional 2,250,000 shares of Common Stock. The option was exercised in full by the Underwriters on September 23, 2016. All of the shares in the Offering were sold by us. The Offering closed on September 27, 2016, subject to customary closing conditions. The net proceeds to us after deducting underwriting discounts and commissions and offering expenses were approximately $135.2 million.

Accumulated Other Comprehensive Income

The following table presents the components of accumulated other comprehensive income at the dates indicated:



	April 1, 2017			July 2, 2016
	(Thousands)
Accumulated other comprehensive income:
Currency translation adjustments	$	38,714		$	40,184
Unrealized loss on marketable securities	(5		)	—
Japan defined benefit plan	(363		)	(363		)
	$	38,346		$	39,821