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Note 4 - Balance Sheet Components

3 Months Ended

Mar. 31, 2023

Supplemental Balance Sheet Disclosures [Text Block]

4. BALANCE SHEET COMPONENTS

Inventories

Inventories consist of the following (in thousands):

	March 31,		December 31,
	2023		2022
Raw materials	$	131,367	$	126,760
Work in process		126,417		134,071
Finished goods		173,046		186,459
Total	$	430,830	$	447,290

Other Current Assets

Other current assets consist of the following (in thousands):

	March 31,		December 31,
	2023		2022
Prepaid wafer purchase	$	50,000	$	-
RSU tax withholding proceeds receivable		15,997		14,480
Prepaid expenses		9,719		11,045
Accrued interest receivable		3,537		8,752
Other		10,702		8,465
Total	$	89,955	$	42,742

Prepaid wafer purchase of $50.0 million relates to a deposit made to a vendor under a long-term wafer supply agreement. See Note 8 for further details.

Other Long-Term Assets

Other long-term assets consist of the following (in thousands):

	March 31,		December 31,
	2023		2022
Prepaid wafer purchase	$	120,000	$	170,000
Deferred compensation plan assets		67,765		63,022
Other		19,802		16,264
Total	$	207,567	$	249,286

Prepaid wafer purchase relates to a deposit made to a vendor under a long-term wafer supply agreement. See Note 8 for further details.

Other Accrued Liabilities

Other accrued liabilities consist of the following (in thousands):

	March 31,		December 31,
	2023		2022
Dividends and dividend equivalents	$	54,656	$	42,170
Warranty		19,726		24,082
Stock rotation and sales returns		30,155		14,931
Income tax payable		32,338		15,595
Other		19,086		16,901
Total	$	155,961	$	113,679

As of March 31, 2023, stock rotation and sales returns included a $26.4 million stock rotation reserve, compared with a $14.3 million reserve as of December 31, 2022. The change in the reserve is affected by the timing of returns and the level of inventory in the distribution channel.

Other Long-Term Liabilities

Other long-term liabilities consist of the following (in thousands):

	March 31,		December 31,
	2023		2022
Deferred compensation plan liabilities	$	65,678	$	64,863
Dividend equivalents		6,765		6,847
Other		5,204		1,664
Total	$	77,647	$	73,374