Trimble Reports First Quarter 2015 Results

CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)


	First Quarter of	Fiscal Year End
As of	2015	2014
Assets

Current assets:
Cash and cash equivalents	$ 145.7	$ 148.0
Accounts receivable, net	383.0	362.0
Other receivables	20.4	29.5
Inventories, net	276.0	278.1
Deferred income taxes	47.1	45.6
Other current assets	44.8	39.4
Total current assets	917.0	902.6

Property and equipment, net	155.2	157.4
Goodwill	2,059.4	2,101.2
Other purchased intangible assets, net	546.2	594.5
Other non-current assets	119.9	118.6

Total assets	$ 3,797.7	$ 3,874.3

Liabilities

Current liabilities:
Current portion of long-term debt	$ 133.1	$ 64.4
Accounts payable	114.0	103.8
Accrued compensation and benefits	81.1	98.9
Deferred revenue	255.4	211.6
Accrued warranty expense	19.0	20.6
Other accrued liabilities	95.7	89.0
Total current liabilities	698.3	588.3

Non-current portion of long-term debt	530.3	674.0
Non-current deferred revenue	27.0	26.3
Deferred income taxes	110.8	121.1
Other non-current liabilities	90.7	95.8
Total liabilities	1,457.1	1,505.5

Commitments and contingencies

Equity

Shareholders' equity:
Common stock	1,233.3	1,207.3
Retained earnings	1,234.5	1,211.0
Accumulated other comprehensive loss	(128.4)	(61.3)
Total Trimble Navigation Ltd. shareholders' equity	2,339.4	2,357.0
Noncontrolling interests	1.2	11.8
Total equity	2,340.6	2,368.8

Total liabilities and equity	$ 3,797.7	$ 3,874.3

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