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Note 4 - Balance Sheet Components

3 Months Ended

Apr. 03, 2021

Supplemental Balance Sheet Disclosures [Text Block]

Accounts Receivable

Accounts receivable do not bear interest and are shown net of an allowance for expected lifetime credit losses, which reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine this allowance through an assessment of known troubled accounts, analysis of our accounts receivable aging, historical experience, expectations for future economic conditions, management judgment, and other available evidence.

	*April 3,*			*January 2,*
(In thousands)	*2021*			*2021*
Accounts receivable	$	71,144		$	64,635
Less: Allowance for credit losses		(54	)		(54	)
Accounts receivable, net of allowance for credit losses	$	71,090		$	64,581

Inventories

	*April 3,*		*January 2,*
(In thousands)	*2021*		*2021*
Work in progress	$	30,981	$	34,724
Finished goods		28,475		29,875
Total inventories, net	$	59,456	$	64,599

Accrued Expenses

Included in Accrued expenses in the Consolidated Balance Sheets are the following balances:

	April 3,		January 2,
(In thousands)	2021		2021
Liability for non-cancelable contracts	$	8,398	$	8,492
Current portion of operating lease liabilities		5,584		4,149
Contract liability under ASC 606		4,913		3,068
Other accrued expenses		5,664		5,702
Total accrued expenses	$	24,559	$	21,411

Property and Equipment – Geographic Information

Our Property and equipment, net by country at the end of each period was as follows:

	*April 3,*		*January 2,*
(In thousands)	*2021*		*2021*
United States	$	28,586	$	29,440

Taiwan		4,906		5,171
Philippines		2,718		2,912
China		1,441		1,537
Japan		413		476
Other		79		130
Total foreign property and equipment, net		9,557		10,226
Total property and equipment, net	$	38,143	$	39,666

Cloud Based Computing Implementation Costs

Under the guidance in ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40), we are capitalizing the implementation costs for cloud computing arrangements, mainly for our integrated distributor accounting management systems. These cloud-based computing implementation costs are recorded in Prepaid expenses and other current assets and Other long-term assets on our Consolidated Balance Sheets. The following table summarizes activity during the first three months of fiscal 2021:

(In thousands)
Cloud based computing implementation costs as of January 2, 2021	$	2,831
Costs capitalized		236
Amortization		(173	)
Cloud based computing implementation costs as of April 3, 2021	$	2,894