| FORMFACTOR, INC. | ||||||
| RECONCILIATION OF CASH PROVIDED FROM OPERATING ACTIVITIES TO FREE CASH FLOW | ||||||
| (In thousands) | ||||||
| (Unaudited) | ||||||
| Net cash provided from operating activities | $ | 17,803 | ||||
| Adjustments to reconcile GAAP cash provided from operating activities to free cash flow: | ||||||
| Debt-related interest expense | 1,172 | |||||
| Capital expenditures | (3,465 | ) | ||||
| (2,293 | ) | (2,293 | ) | |||
| Free cash flow | $ | 15,510 | ||||
| FORMFACTOR, INC. | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (In thousands) | |||||||
| (Unaudited) | |||||||
|
April 1,
2017 |
December 31,
2016 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 114,437 | $ | 101,408 | |||
| Marketable securities | 7,497 | 7,497 | |||||
| Accounts receivable, net | 79,439 | 70,225 | |||||
| Inventories, net | 60,371 | 59,806 | |||||
| Restricted cash | 4 | 106 | |||||
| Refundable income taxes | 1,105 | 1,391 | |||||
| Prepaid expenses and other current assets | 11,348 | 14,276 | |||||
| Total current assets | 274,201 | 254,709 | |||||
| Restricted cash | 1,116 | 1,082 | |||||
| Property, plant and equipment, net | 45,153 | 42,663 | |||||
| Goodwill | 188,185 | 188,010 | |||||
| Intangibles, net | 118,444 | 126,608 | |||||
| Deferred tax assets | 3,322 | 3,310 | |||||
| Other assets | 2,246 | 2,600 | |||||
| Total assets | $ | 632,667 | $ | 618,982 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 43,316 | $ | 34,075 | |||
| Accrued liabilities | 26,292 | 30,184 | |||||
| Current portion of term loan | 14,601 | 12,701 | |||||
| Income taxes payable | 50 | 442 | |||||
| Deferred revenue | 6,590 | 5,305 | |||||
| Total current liabilities | 90,849 | 82,707 | |||||
| Long-term income taxes payable | 1,290 | 1,315 | |||||
| Term loan, less current portion | 116,872 | 125,475 | |||||
| Deferred tax liabilities | 3,770 | 3,703 | |||||
| Deferred rent and other liabilities | 4,536 | 4,726 | |||||
| Total liabilities | 217,317 | 217,926 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Common stock and capital in excess of par value | 840,786 | 833,412 | |||||
| Accumulated other comprehensive loss | (2,135 | ) | (3,740 | ) | |||
| Accumulated deficit | (423,301 | ) | (428,616 | ) | |||
| Total stockholders’ equity | 415,350 | 401,056 | |||||
| Total liabilities and stockholders’ equity | $ | 632,667 | $ | 618,982 | |||
