Balance Sheet Details

3 Months Ended

Mar. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Details

Balance Sheet Details

Cash, cash equivalents and restricted cash consist of the following:

	March 31, 2020		December 31, 2019
	(in thousands)
Cash and cash equivalents	$	98,373	$	92,708
Short-term restricted cash	10		349
Long-term restricted cash	57		60
Total cash, cash equivalents and restricted cash	$	98,440	$	93,117

As of March 31, 2020 and December 31, 2019, cash and cash equivalents included money market funds of approximately $20.4 million. As of March 31, 2020 and December 31, 2019, the Company has restricted cash of approximately $0.1 million and $0.4 million, respectively. The cash is restricted in connection with guarantees for certain import duties and office leases.

Inventory consists of the following:

	March 31, 2020		December 31, 2019
	(in thousands)
Work-in-process	$	14,485	$	14,525
Finished goods	16,603		16,985
	$	31,088	$	31,510

Property and equipment, net consists of the following:

	Useful Life (in Years)	March 31, 2020		December 31, 2019
		(in thousands)
Furniture and fixtures	5	$	2,206	$	2,199
Machinery and equipment	3-5	36,851		35,660
Masks and production equipment	2-5	15,194		15,209
Software	3	6,118		5,956
Leasehold improvements	1-5	15,255		16,186
Construction in progress	N/A	306		746
		75,930		75,956
Less: accumulated depreciation and amortization		(60,179)		(59,343)
		$	15,751	$	16,613

Depreciation expense for the three months ended March 31, 2020 and 2019 was $1.6 million and $2.1 million, respectively.

Accrued price protection liability consists of the following activity:

	Three Months Ended March 31,
	2020		2019
	(in thousands)
Beginning balance	$	12,557	$	16,454
Charged as a reduction of revenue	1,399		10,508
Payments	(5,932)		(8,019)
Ending balance	$	8,024	$	18,943

Accrued expenses and other current liabilities consist of the following:

	March 31, 2020		December 31, 2019
	(in thousands)
Accrued technology license payments	$	4,500	$	4,500
Accrued professional fees	2,715		861
Accrued engineering and production costs	2,068		4,491
Accrued restructuring	319		294
Accrued royalty	513		923
Short-term lease liabilities	4,751		4,810
Accrued customer credits	49		832
Income tax liability	109		65
Customer contract liabilities	14		107
Accrued obligations to customers for price adjustments	9,053		8,382
Accrued obligations to customers for stock rotation rights	1,572		1,410
Other	4,998		4,496
	$	30,661	$	31,171

The following table summarizes the change in balances of accumulated other comprehensive income (loss) by component:

	Cumulative Translation Adjustments		Interest Rate Hedge		Total
	(in thousands)
Balance at December 31, 2019	$	(747)	$	(140)	$	(887)
Current period other comprehensive income (loss)	(580)		(153)		(733)
Balance at March 31, 2020	$	(1,327)	$	(293)	$	(1,620)