Note 5 - Balance Sheet Components

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

5. BALANCE SHEET COMPONENTS

Inventories 

Inventories consist of the following (in thousands):

	December 31,
	2023		2022
Raw materials	$	118,917	$	126,760
Work in process		112,750		134,071
Finished goods		152,035		186,459
Total	$	383,702	$	447,290

Other Current Assets

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

	December 31,
	2023		2022
Other receivables	$	50,000	$	-
RSU tax withholding proceeds receivable		20,141		14,480
Prepaid expenses		28,964		11,045
Restricted cash		33,204		-
Other		15,154		17,217
Total	$	147,463	$	42,742

Other receivables relate to a deposit made to a supplier under a long-term wafer supply agreement. See Note 12 for further details. 

Property and Equipment, Net

Property and equipment, net, consist of the following (in thousands):

	December 31,
	2023			2022
Land	$	48,490		$	41,924
Production equipment and software		270,390			254,882
Buildings and improvements		205,132			195,205
Transportation equipment		28,641			28,612
Leasehold improvements		17,052			17,389
Furniture and fixtures		11,711			11,378
Construction in progress		16,980			1,908
Property and equipment, gross		598,396			551,298
Less: accumulated depreciation and amortization		(229,444	)		(194,141	)
Total	$	368,952		$	357,157

Depreciation and amortization expense on property and equipment was $40.0 million, $36.8 million and $28.4 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Other Long-Term Assets

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

	December 31,
	2023		2022
Deferred compensation plan assets	$	78,381	$	63,022
Prepaid wafer purchases		120,000		170,000
Other		12,896		16,264
Total	$	211,277	$	249,286

Prepaid wafer purchases relate to a deposit made to a supplier under a long-term wafer supply agreement. See Note 12 for further details.

Other Accrued Liabilities

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

	December 31,
	2023		2022
Dividends and dividend equivalents	$	57,697	$	42,170
Warranty		16,906		24,082
Stock rotation and sales returns		18,843		14,931
Income tax payable		8,063		15,595
Other		14,282		16,901
Total	$	115,791	$	113,679

Other Long-Term Liabilities

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

	December 31,
	2023		2022
Deferred compensation plan liabilities	$	80,903	$	64,863
Dividend equivalents		2,187		6,847
Operating lease liabilities		5,565		1,664
Total	$	88,655	$	73,374