FARO TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS | |||
| |||
(in thousands, except share and per share data) | March 31, 2022
|
| December 31,
|
ASSETS |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents | $ 107,192 |
| $ 121,989 |
Accounts receivable, net | 76,745 |
| 78,523 |
Inventories, net | 53,992 |
| 53,145 |
Prepaid expenses and other current assets | 23,063 |
| 19,793 |
Total current assets | 260,992 |
| 273,450 |
Non-current assets: |
|
|
|
Property, plant and equipment, net | 22,454 |
| 22,194 |
Operating lease right-of-use assets | 21,141 |
| 22,543 |
Goodwill | 81,507 |
| 82,096 |
Intangible assets, net | 27,223 |
| 25,616 |
Service and sales demonstration inventory, net | 31,894 |
| 30,554 |
Deferred income tax assets, net | 20,713 |
| 21,277 |
Other long-term assets | 1,979 |
| 2,010 |
Total assets | $ 467,903 |
| $ 479,740 |
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
Current liabilities: |
|
|
|
Accounts payable | $ 14,793 |
| $ 14,199 |
Accrued liabilities | 25,650 |
| 28,208 |
Income taxes payable | 5,760 |
| 4,499 |
Current portion of unearned service revenues | 40,286 |
| 40,838 |
Customer deposits | 5,876 |
| 5,399 |
Lease liabilities | 5,653 |
| 5,738 |
Total current liabilities | 98,018 |
| 98,881 |
Unearned service revenues - less current portion | 22,486 |
| 22,350 |
Lease liabilities - less current portion | 17,288 |
| 18,648 |
Deferred income tax liabilities | 1,041 |
| 1,058 |
Income taxes payable - less current portion | 11,297 |
| 11,297 |
Other long-term liabilities | 1,034 |
| 1,047 |
Total liabilities | 151,164 |
| 153,281 |
Shareholders' equity: |
|
|
|
Common stock - par value $.001, 50,000,000 shares authorized; 19,637,028 and
| 20 |
| 20 |
Additional paid-in capital | 302,877 |
| 301,061 |
Retained earnings | 63,857 |
| 73,544 |
Accumulated other comprehensive loss | (19,358) |
| (17,374) |
Common stock in treasury, at cost - 1,376,351 and 1,382,367 shares held, respectively | (30,657) |
| (30,792) |
Total shareholders' equity | 316,739 |
| 326,459 |
Total liabilities and shareholders' equity | $ 467,903 |
| $ 479,740 |