FARO TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
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(in thousands, except share and per share data) | March 31, 2020
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| December 31, 2020 | ||||
ASSETS |
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Current assets: |
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Cash and cash equivalents | $ | 169,957 |
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| $ | 185,633 |
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Accounts receivable, net | 59,821 |
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| 64,616 |
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Inventories, net | 47,058 |
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| 47,391 |
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Prepaid expenses and other current assets | 27,231 |
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| 26,295 |
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Total current assets | 304,067 |
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| 323,935 |
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Non-current assets: |
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Property, plant and equipment, net | 21,921 |
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| 23,091 |
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Operating lease right-of-use asset | 24,616 |
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| 26,107 |
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Goodwill | 56,269 |
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| 57,541 |
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Intangible assets, net | 13,254 |
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| 13,301 |
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Service and sales demonstration inventory, net | 31,323 |
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| 31,831 |
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Deferred income tax assets, net | 46,208 |
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| 47,450 |
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Other long-term assets | 2,300 |
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| 2,336 |
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Total assets | $ | 499,958 |
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| $ | 525,592 |
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LIABILITIES AND SHAREHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable | $ | 15,969 |
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| $ | 14,121 |
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Accrued liabilities | 29,775 |
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| 42,593 |
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Income taxes payable | 567 |
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| 3,442 |
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Current portion of unearned service revenues | 37,842 |
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| 39,149 |
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Customer deposits | 3,650 |
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| 2,807 |
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Lease liability | 5,596 |
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| 5,835 |
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Total current liabilities | 93,399 |
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| 107,947 |
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Unearned service revenues - less current portion | 21,476 |
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| 21,757 |
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Lease liability - less current portion | 20,965 |
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| 22,131 |
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Deferred income tax liabilities | 642 |
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| 787 |
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Income taxes payable - less current portion | 11,583 |
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| 11,583 |
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Other long-term liabilities | 1,110 |
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| 1,084 |
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Total liabilities | 149,175 |
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| 165,289 |
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Shareholders' equity: |
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Common stock - par value $.001, 50,000,000 shares authorized; 19,536,531 and 19,384,350 issued, respectively; 18,154,164 and 17,990,707 outstanding, respectively | 19 |
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| 19 |
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Additional paid-in capital | 291,603 |
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| 287,979 |
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Retained earnings | 110,287 |
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| 113,508 |
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Accumulated other comprehensive loss | (20,334) |
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| (10,160) |
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Common stock in treasury, at cost; 1,382,367 and 1,393,643 shares, respectively | (30,792) |
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| (31,043) |
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Total shareholders' equity | 350,783 |
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| 360,303 |
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Total liabilities and shareholders' equity | $ | 499,958 |
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| $ | 525,592 |
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