Trimble Reports First Quarter 2014 Results

CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)


	First Quarter of	Fiscal Year End
As of	2014	2013
Assets

Current assets:
Cash and cash equivalents	$ 165,226	$ 147,227
Accounts receivables, net	397,740	337,932
Other receivables	21,505	23,143
Inventories, net	266,700	254,311
Deferred income taxes	40,186	38,597
Other current assets	39,514	35,807
Total current assets	930,871	837,017

Property and equipment, net	149,609	142,975
Goodwill	1,990,457	1,989,470
Other purchased intangible assets, net	583,075	619,399
Other non-current assets	123,571	111,979

Total assets	$ 3,777,583	$ 3,700,840

Liabilities

Current liabilities:
Current portion of long-term debt	$ 52,054	$ 106,402
Accounts payable	120,148	112,522
Accrued compensation and benefits	83,011	95,866
Deferred revenue	207,497	159,295
Accrued warranty expense	18,136	17,781
Other accrued liabilities	82,126	85,124
Total current liabilities	562,972	576,990

Non-current portion of long-term debt	612,598	652,056
Non-current deferred revenue	23,127	20,431
Deferred income taxes	138,962	136,399
Other non-current liabilities	86,373	80,982
Total liabilities	1,424,032	1,466,858

Commitments and contingencies

Equity

Shareholders' equity:
Common stock	1,159,907	1,106,017
Retained earnings	1,150,304	1,081,695
Accumulated other comprehensive income	31,802	33,194
Total Trimble Navigation Ltd. shareholders' equity	2,342,013	2,220,906
Noncontrolling interests	11,538	13,076
Total equity	2,353,551	2,233,982

Total liabilities and equity	$ 3,777,583	$ 3,700,840

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