BALANCE SHEET COMPONENTS

The following tables provide details of selected balance sheet components (in thousands):



	March 27, 2020			December 31, 2019
Accounts receivable, net:
Accounts receivable	$	95,719		$	91,513
Less: allowances for doubtful accounts and sales returns	(2,661		)	(3,013		)
Total	$	93,058		$	88,500



	March 27, 2020		December 31, 2019
Inventories, net:
Raw materials	$	4,881	$	4,179
Work-in-process	2,220		1,633
Finished goods	18,841		14,080
Service-related spares	8,912		9,150
Total	$	34,854	$	29,042



	March 27, 2020		December 31, 2019
Prepaid expenses and other current assets:
French R&D tax credits receivable⁽¹⁾	7,163		7,343
Contract assets⁽²⁾	5,806		13,969
Deferred cost of revenue	$	3,892	$	2,631
Prepaid maintenance, royalty, rent, and property taxes	3,653		1,594
Capitalized sales commissions	1,168		1,309
Other	10,319		13,916
Total	$	32,001	$	40,762

(1) The Company’s French subsidiary participates in the French Crédit d’Impôt Recherche program (the “R&D tax credits”) which allows companies to monetize eligible research expenses. The R&D tax credits can be used to offset against income tax payable to the French government in each of the four years after being incurred, or if not utilized, are recoverable in cash. The amount of R&D tax credits recoverable are subject to audit by the French government. The R&D tax credits receivable at March 27, 2020 were approximately $23.5 million and are expected to be recoverable from 2020 through 2023.

(2) Contract assets reflect the satisfied performance obligations for which the Company does not yet have an unconditional right to consideration.



	March 27, 2020			December 31, 2019
Property and equipment, net:
Machinery and equipment	$	77,213		$	75,229
Capitalized software	34,395			34,190
Construction in progress*	19,482			5,506
Leasehold improvements	15,072			15,170
Furniture and fixtures	6,004			6,036
Property and equipment, gross	152,166			136,131
Less: accumulated depreciation and amortization	(115,075		)	(113,203		)
Total	$	37,091		$	22,928

*During fiscal 2019, the Company entered into a lease for a new facility which will become the Company’s new headquarters in 2020. The new lease commenced in May 2019, as the facility was made available to the Company for constructing leasehold improvements. Construction in progress includes $18.2 million for constructing leasehold improvements in the new headquarters facility.



	March 27, 2020		December 31, 2019
Other long-term assets:
French R&D tax credits receivable	$	16,303	$	15,899
Deferred tax assets	10,222		10,575
Equity investment	3,593		3,593
Other	9,757		11,238
Total	$	39,875	$	41,305



	March 27, 2020		December 31, 2019
Accrued and other current liabilities:
Accrued employee compensation and related expenses	$	16,175	$	19,454
Operating lease liability (short-term)	8,583		8,881
Customer deposits	3,805		3,557
Accrued warranty	3,744		4,308
Accrued royalty payments	2,384		2,642
Accrued Avid litigation settlement, current	2,000		2,000
Contingent inventory reserves	1,700		2,208
Others	13,689		19,485
Total	$	52,080	$	62,535



	March 27, 2020		December 31, 2019
Other non-current liabilities:
Operating lease liability (long-term)	$	25,326	$	25,766
Deferred revenue (long-term)	7,135		6,333
Others	8,927		9,155
Total	$	41,388	$	41,254