Note 4 - Balance Sheet Components

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

4. BALANCE SHEET COMPONENTS

Inventories

Inventories consist of the following (in thousands):

	September 30,		December 31,
	2023		2022
Raw materials	$	126,840	$	126,760
Work in process		94,417		134,071
Finished goods		176,031		186,459
Total	$	397,288	$	447,290

Other Current Assets

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

	September 30,		December 31,
	2023		2022
Prepaid wafer purchase	$	50,000	$	-
RSU tax withholding proceeds receivable		14,777		14,480
Prepaid expenses		29,202		11,045
Accrued interest receivable		3,693		8,752
Other		12,295		8,465
Total	$	109,967	$	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):

	September 30,		December 31,
	2023		2022
Prepaid wafer purchase	$	120,000	$	170,000
Deferred compensation plan assets		70,899		63,022
Other		13,341		16,264
Total	$	204,240	$	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):

	September 30,		December 31,
	2023		2022
Dividends and dividend equivalents	$	58,909	$	42,170
Warranty		17,043		24,082
Stock rotation and sales returns		28,343		14,931
Income tax payable		467		15,595
Other		15,915		16,901
Total	$	120,677	$	113,679

As of September 30, 2023, stock rotation and sales returns included a $25.0 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 customer returns and the level of inventory in the distribution channel.

Other Long-Term Liabilities

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

	September 30,		December 31,
	2023		2022
Deferred compensation plan liabilities	$	69,327	$	64,863
Dividend equivalents		2,316		6,847
Other		5,758		1,664
Total	$	77,401	$	73,374