PHOTRONICS, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)

	May 4,		November 3,
	2014		2013
Assets
Current assets:
Cash and cash equivalents	$	191,828	$	215,615
Accounts receivable		97,654		73,357
Inventories		21,923		18,849
Other current assets		29,406		10,645
Total current assets		340,811		318,466
Property, plant and equipment, net		534,065		422,740
Investment in joint venture		93,085		93,124
Intangible assets, net		32,767		34,080
Other assets		20,282		17,519
	$	1,021,010	$	885,929
Liabilities and Equity
Current liabilities:
Current portion of long-term borrowings	$	10,231	$	11,818
Accounts payable and accrued liabilities		121,174		92,769
Total current liabilities		131,405		104,587
Long-term borrowings		158,691		182,203
Other liabilities		21,175		11,308
Photronics, Inc. shareholders' equity		603,121		585,314
Noncontrolling interests		106,618		2,517
Total equity		709,739		587,831
	$	1,021,010	$	885,929