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Note 4 - Balance Sheet Components

6 Months Ended

Jun. 30, 2023

Supplemental Balance Sheet Disclosures [Text Block]

4. BALANCE SHEET COMPONENTS

Inventories

Inventories consist of the following (in thousands):

	June 30,		December 31,
	2023		2022
Raw materials	$	126,606	$	126,760
Work in process		106,455		134,071
Finished goods		194,371		186,459
Total	$	427,432	$	447,290

Other Current Assets

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

	June 30,		December 31,
	2023		2022
Prepaid wafer purchase	$	50,000	$	-
RSU tax withholding proceeds receivable		17,767		14,480
Prepaid expenses		15,444		11,045
Accrued interest receivable		4,421		8,752
Other		7,621		8,465
Total	$	95,253	$	42,742

Prepaid wafer purchase of $50.0 million relates to a deposit made to a supplier 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):

	June 30,		December 31,
	2023		2022
Prepaid wafer purchase	$	120,000	$	170,000
Deferred compensation plan assets		71,900		63,022
Other		12,132		16,264
Total	$	204,032	$	249,286

Prepaid wafer purchase relates to a deposit made to a supplier 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):

	June 30,		December 31,
	2023		2022
Dividends and dividend equivalents	$	59,553	$	42,170
Warranty		17,654		24,082
Stock rotation and sales returns		19,444		14,931
Income tax payable		252		15,595
Other		16,507		16,901
Total	$	113,410	$	113,679

As of June 30, 2023, stock rotation and sales returns included a $17.2 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):

	June 30,		December 31,
	2023		2022
Deferred compensation plan liabilities	$	70,071	$	64,863
Dividend equivalents		1,953		6,847
Other		4,634		1,664
Total	$	76,658	$	73,374