REVENUE (Tables)

9 Months Ended

Jul. 28, 2019

REVENUE [Abstract]

Impacts of Adoption of Condensed Consolidated Balance Sheet, Condensed Consolidated Statements of Income and Cash Flows

The following tables present the impacts of our adoption of Topic 606 on our July 28, 2019, condensed consolidated balance sheet, and condensed consolidated statements of income for the three and nine months ended July 28, 2019, and cash flows for the nine-months ended July 28, 2019.

Condensed Consolidated Balance Sheet

July 28, 2019

	As Reported		Adjustments			Balance without Adoption of Topic 606
Assets
Accounts receivable	$	134,369	$	(363	)	$	134,006
Inventory		39,982		4,744			44,726
Other current assets		38,434		(6,209	)		32,225
Deferred income taxes		17,498		103			17,601
Liabilities
Accrued liabilities	$	65,236	$	743		$	65,979
Deferred income taxes		518		(326	)		192
Equity
Photronics, Inc. shareholders’ equity	$	763,394	$	(1,728	)	$	761,666
Noncontrolling interests		136,944		(414	)		136,530

Condensed Consolidated Statement of Income

Three Months Ended July 28, 2019

	As Reported		Adjustments			Balance without Adoption of Topic 606
Revenue	$	138,112	$	340		$	138,452
Cost of goods sold		107,542		87			107,629
Gross profit		30,570		253			30,823
Provision for taxes		3,218		(15	)		3,203
Net income		9,834		238			10,072
Noncontrolling interests		3,487		53			3,540
Income attributable to Photronics, Inc. shareholders	$	6,347	$	185		$	6,532

Condensed Consolidated Statement of Income

Nine Months Ended July 28, 2019

	As Reported		Adjustments			Balance without Adoption of Topic 606
Revenue	$	394,404	$	(2,180	)	$	392,224
Cost of goods sold		311,721		(987	)		310,734
Gross profit		82,683		(1,193	)		81,490
Provision for taxes		7,883		(149	)		7,734
Net income		27,454		(1,044	)		26,410
Noncontrolling interests		7,361		(300	)		7,061
Income attributable to Photronics, Inc. shareholders	$	20,093	$	(744	)	$	19,349

Condensed Consolidated Statement of Cash Flows

Nine Months Ended July 28, 2019

	As Reported			Adjustments			Balance without Adoption of Topic 606
Net Income	$	27,454		$	(1,044	)	$	26,410
Changes in operating accounts:
Accounts receivable	$	(14,185	)	$	(223	)	$	(14,408	)
Inventories		(15,083	)		(1,268	)		(16,351	)
Other current assets		(9,406	)		1,926			(7,480	)
Accounts payable, accrued liabilities, and other		(25,663	)		609			(25,054	)

Disaggregation of Revenue

The following tables present our revenue for the three and nine-month periods ended July 28, 2019, disaggregated by product type, geographic location, and timing of recognition.

Revenue by Product Type	Three Months Ended July 28, 2019		Nine Months Ended July 28, 2019
IC
High-end	$	38,460	$	111,455
Mainstream		61,725		182,197
Total IC	$	100,185	$	293,652
FPD
High-end	$	25,939	$	70,361
Mainstream		11,988		30,391
Total FPD	$	37,927	$	100,752
	$	138,112	$	394,404
Revenue by Geographic Location
Taiwan	$	61,273	$	175,482
Korea		37,120		110,395
United States		25,364		74,579
Europe		7,937		24,725
China		5,963		7,693
Other		455		1,530
	$	138,112	$	394,404
Revenue by Timing of Recognition
Over time	$	122,938	$	362,078
At a point in time		15,174		32,326
	$	138,112	$	394,404