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

	January 31,		November 1,
	2016		2015
Assets
Current assets:
Cash and cash equivalents	$	231,444	$	205,867
Accounts receivable		99,936		110,056
Inventories		21,760		24,157
Other current assets		19,840		24,034
Total current assets		372,980		364,114
Property, plant and equipment, net		519,272		547,284
Investment in joint venture		92,931		93,021
Intangible assets, net		23,184		24,616
Other assets		14,983		16,520
	$	1,023,350	$	1,045,555
Liabilities and Equity
Current liabilities:
Current portion of long-term borrowings	$	63,955	$	65,495
Accounts payable and accrued liabilities		102,410		127,197
Total current liabilities		166,365		192,692
Long-term borrowings		66,224		67,120
Other liabilities		23,298		23,677
Photronics, Inc. shareholders' equity		653,065		646,555
Noncontrolling interests		114,398		115,511
Total equity		767,463		762,066
	$	1,023,350	$	1,045,555