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Netgear, Inc. – ‘10-Q’ for 6/28/15 – ‘R8’

On:  Friday, 7/31/15, at 4:07pm ET   ·   For:  6/28/15   ·   Accession #:  1122904-15-57   ·   File #:  0-50350

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  As Of               Filer                 Filing    For·On·As Docs:Size

 7/31/15  Netgear, Inc.                     10-Q        6/28/15   79:9.1M

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    818K 
 2: EX-3.2      Certificate of Amendment to Amended and Restated    HTML     30K 
                Certificate of Incorporation                                     
 3: EX-3.3      Amended and Restated Bylaws of the Registrant       HTML    154K 
 4: EX-31.1     Rule 13A-14(A)/15D-14(A) Certification of           HTML     33K 
                Principal Executive Officer                                      
 5: EX-31.2     Rule 13A-14(A)/15D-14(A) Certification of           HTML     33K 
                Principal Financial Officer                                      
 6: EX-32.1     Section 1350 Certification of Principal Executive   HTML     29K 
                Officer                                                          
 7: EX-32.2     Section 1350 Certification of Principal Financial   HTML     29K 
                Officer                                                          
54: R1          Document And Entity Information                     HTML     45K 
43: R2          Unaudited Condensed Consolidated Balance Sheets     HTML    117K 
52: R3          Unaudited Condensed Consolidated Statements Of      HTML     85K 
                Operations                                                       
56: R4          Unaudited Condensed Consolidated Statement of       HTML     51K 
                Comprehensive Income                                             
73: R5          Unaudited Condensed Consolidated Statements Of      HTML    114K 
                Cash Flows                                                       
45: R6          The Company And Basis of Presentation               HTML     33K 
51: R7          Summary of Significant Accounting Policies          HTML     33K 
38: R8          Balance Sheet Components                            HTML    143K 
29: R9          Derivative Financial Instruments                    HTML    276K 
74: R10         Net Income Per Share                                HTML     66K 
58: R11         Income Taxes                                        HTML     34K 
57: R12         Commitments And Contingencies Commitments and       HTML    108K 
                contingencies                                                    
63: R13         Stockholders' Equity                                HTML    105K 
64: R14         Employee Benefit Plans                              HTML     88K 
61: R15         Segment Information and Operations By Geographic    HTML    140K 
                Area                                                             
65: R16         Fair Value Measurements                             HTML    106K 
53: R17         Shipping and Handling Fees and Costs (Notes)        HTML     29K 
55: R18         Restructuring and Other Charges (Notes)             HTML     47K 
60: R19         Balance Sheet Components (Tables)                   HTML    159K 
79: R20         Derivative Financial Instruments (Tables)           HTML    263K 
69: R21         Net Income Per Share (Tables)                       HTML     64K 
48: R22         Commitments And Contingencies Product Warranties    HTML     45K 
                (Tables)                                                         
59: R23         Stockholders' Equity (Tables)                       HTML     92K 
50: R24         Employee Benefit Plans (Tables)                     HTML     94K 
22: R25         Segment Information and Operations By Geographic    HTML    136K 
                Area (Tables)                                                    
70: R26         Fair Value Measurements (Tables)                    HTML    102K 
76: R27         Restructuring and Other Charges (Tables)            HTML     44K 
33: R28         Balance Sheet Components (Narrative) (Details)      HTML     35K 
32: R29         Balance Sheet Components (Schedule Of               HTML     43K 
                Available-For-Sale Short-Term) (Details)                         
36: R30         Balance Sheet Components (Schedule Of Accounts      HTML     39K 
                Receivable And Related Allowances) (Details)                     
37: R31         Balance Sheet Components (Schedule Of Inventories)  HTML     38K 
                (Details)                                                        
39: R32         Balance Sheet Components (Schedule Of Property And  HTML     41K 
                Equipment, Net) (Details)                                        
20: R33         Balance Sheet Components Balance Sheet Components   HTML     32K 
                - Property and Equipment, Other Information                      
                (Details)                                                        
67: R34         Balance Sheet Components (Schedule Of Intangibles,  HTML     41K 
                Net) (Details)                                                   
47: R35         Balance Sheet Components (Schedule Of Estimated     HTML     43K 
                Amortization Expense Related To Intangibles)                     
                (Details)                                                        
49: R36         Balance Sheet Components Schedule of Other          HTML     37K 
                Non-Current Assets (Details)                                     
25: R37         Balance Sheet Components (Schedule Of Other         HTML     40K 
                Accrued Liabilities) (Details)                                   
78: R38         Derivative Financial Instruments (Narrative)        HTML     52K 
                (Details)                                                        
14: R39         Derivative Financial Instruments (Schedule Of Fair  HTML     42K 
                Values Of The Company's Derivative Instruments And               
                The Line Items On The Consolidated Balance Sheets)               
                (Details)                                                        
40: R40         Derivative Financial Instruments Scheduel of        HTML     57K 
                Offsetting of Derivative Assets (Details)                        
72: R41         Derivative Financial Instruments Schedule of        HTML     61K 
                Offsetting of Derivate Liabilities (Details)                     
24: R42         Derivative Financial Instruments (Schedule Of       HTML     49K 
                Company's Derivative Instruments On Other                        
                Comprehensive Income And The Consolidated                        
                Statement Of Operations) (Details)                               
31: R43         Derivative Financial Instruments (Schedule Of       HTML     33K 
                Derivatives Not Designated As Hedging Instruments)               
                (Details)                                                        
35: R44         Net Income Per Share (Schedule Of Net Income Per    HTML     53K 
                Share) (Details)                                                 
44: R45         Income Taxes (Narrative) (Details)                  HTML     35K 
19: R46         Commitments And Contingencies (Narrative)           HTML    115K 
                (Details)                                                        
28: R47         Commitments And Contingencies Schedule of Product   HTML     34K 
                Warranty Liability (Details)                                     
16: R48         Stockholders' Equity (Narrative) (Details)          HTML     51K 
71: R49         Stockholders' Equity (Schedule Of Changes in        HTML     45K 
                Accumulated Other Comprehensive Income by                        
                Component Net of Tax) (Details)                                  
23: R50         Stockholders' Equity (Schedule of                   HTML     46K 
                Reclassifications Out Of Accumulated Other                       
                Comprehensive Income) (Details)                                  
68: R51         Employee Benefit Plans (Narrative) (Details)        HTML     49K 
26: R52         Employee Benefit Plans (Schedule Of Stock Option    HTML     55K 
                Activity) (Details)                                              
41: R53         Employee Benefit Plans (Schedule Of RSU Activity)   HTML     52K 
                (Details)                                                        
15: R54         Employee Benefit Plans (Schedule Of Valuation And   HTML     38K 
                Expense Information) (Details)                                   
18: R55         Employee Benefit Plans (Schedule Of Total           HTML     40K 
                Stock-Based Compensation Expense Resulting From                  
                Stock Options, Restricted Stock Awards, And The                  
                Employee Stock Purchase Plan) (Details)                          
34: R56         Segment Information and Operations By Geographic    HTML     25K 
                Area(Narrative) (Details)                                        
21: R57         Segment Information and Operations By Geographic    HTML     69K 
                Area (Schedule Of Reportable Segment And                         
                Reconciliation Of Segment Contribution Income To                 
                Income Before Income Taxes) (Details)                            
75: R58         Segment Information and Operations By Geographic    HTML     43K 
                Area (Schedule Of Net Revenue By Geography                       
                Periods) (Details)                                               
46: R59         Segment Information and Operations By Geographic    HTML     40K 
                Area (Schedule Of Long-Lived Asset By Geographic                 
                Areas) (Details)                                                 
62: R60         Fair Value Measurements (Summary Of Valuation Of    HTML     78K 
                Company's Financial Instruments By Various Levels)               
                (Details)                                                        
27: R61         Shipping and Handling Fees and Costs (Narrative)    HTML     31K 
                (Details)                                                        
30: R62         Restructuring and Other Charges (Narrative)         HTML     37K 
                (Details)                                                        
66: R63         Restructuring and Other Charges Schedule of         HTML     41K 
                Restructuring and Other Charges (Details)                        
77: XML         IDEA XML File -- Filing Summary                      XML    144K 
17: EXCEL       IDEA Workbook of Financial Reports                  XLSX     81K 
 8: EX-101.INS  XBRL Instance -- ntgr-20150628                       XML   2.86M 
10: EX-101.CAL  XBRL Calculations -- ntgr-20150628_cal               XML    203K 
11: EX-101.DEF  XBRL Definitions -- ntgr-20150628_def                XML    694K 
12: EX-101.LAB  XBRL Labels -- ntgr-20150628_lab                     XML   1.43M 
13: EX-101.PRE  XBRL Presentations -- ntgr-20150628_pre              XML    849K 
 9: EX-101.SCH  XBRL Schema -- ntgr-20150628                         XSD    154K 
42: ZIP         XBRL Zipped Folder -- 0001122904-15-000057-xbrl      Zip    228K 


‘R8’   —   Balance Sheet Components


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.2.0.727
Balance Sheet Components
6 Months Ended
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components
Balance Sheet Components

Available-for-sale short-term investments (in thousands)

 
As of
 
 
 
Cost
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value
 
 Cost
 
Unrealized Gain
 
Unrealized Loss
 
Estimated Fair Value
U.S. treasuries
$
74,972

 
$
19

 
$

 
$
74,991

 
$
114,944

 
$
6

 
$
(15
)
 
$
114,935

Certificates of deposit
151

 

 

 
151

 
158

 

 

 
158

Total
$
75,123

 
$
19

 
$

 
$
75,142

 
$
115,102

 
$
6

 
$
(15
)
 
$
115,093



The Company’s short-term investments are primarily comprised of marketable securities that are classified as available-for-sale and consist of government securities with an original maturity or remaining maturity at the time of purchase of greater than three months and no more than 12 months. Accordingly, none of the available-for-sale securities have unrealized losses greater than 12 months.

Accounts receivable, net (in thousands)
 
As of
 
 
Gross accounts receivable
$
263,877

 
$
296,239

Allowance for doubtful accounts
(1,255
)
 
(1,255
)
Allowance for sales returns
(13,704
)
 
(17,489
)
Allowance for price protection
(2,425
)
 
(1,806
)
Total allowances
(17,384
)
 
(20,550
)
Total accounts receivable, net
$
246,493

 
$
275,689



Inventories (in thousands)
 
As of
 
 
Raw materials
$
3,338

 
$
3,625

Work in process


8

Finished goods
185,330

 
219,250

Total inventories
$
188,668

 
$
222,883



The Company records provisions for excess and obsolete inventory based on forecasts of future demand. While management believes the estimates and assumptions underlying its current forecasts are reasonable, there is risk that additional charges may be necessary if current forecasts are greater than actual demand.

Property and equipment, net (in thousands)
 
 
As of
 
 
Computer equipment
$
10,002

 
$
9,779

Furniture, fixtures and leasehold improvements
17,984

 
19,379

Software
29,908

 
29,294

Machinery and equipment
63,391

 
60,135

Total property and equipment, gross
121,285

 
118,587

Accumulated depreciation and amortization
(95,694
)
 
(88,893
)
Total property and equipment, net
$
25,591

 
$
29,694



Depreciation and amortization expense pertaining to property and equipment was $4.6 million and $9.4 million for the three and six months ended June 28, 2015, respectively, and $4.2 million and $8.5 million for the three and six months ended June 29, 2014, respectively.

Intangibles, net (in thousands)
 
Gross
 
Accumulated Amortization
 
Net
 
 
 
 
 
Technology
$
61,099

 
$
(44,067
)
 
$
17,032

Customer contracts and relationships
56,500

 
(19,748
)
 
36,752

Other
10,545

 
(6,895
)
 
3,650

Total intangibles, net
$
128,144

 
$
(70,710
)
 
$
57,434


 
Gross
 
Accumulated Amortization
 
Net
 
 
 
 
 
Technology
$
61,099

 
$
(39,341
)
 
$
21,758

Customer contracts and relationships
56,500

 
(16,205
)
 
40,295

Other
10,545

 
(6,368
)
 
4,177

Total intangibles, net
$
128,144

 
$
(61,914
)
 
$
66,230



Amortization of intangibles was $4.3 million and $8.8 million for the three and six months ended June 28, 2015, respectively, and $4.4 million and $8.9 million for the three and six months ended June 29, 2014, respectively.
.

Estimated amortization expense related to intangibles for each of the next five years and thereafter is as follows (in thousands):
Year Ending December 31
Amount
2015 (remaining six months)
$
8,487

2016
16,921

2017
11,386

2018
7,871

2019
6,028

Thereafter
6,741

Total estimated amortization expense
$
57,434



Other non-current assets (in thousands)
 
As of
 
 
Non-current deferred income taxes
$
39,396

 
$
38,696

Cost method investment
1,322

 
1,322

Other
7,634

 
8,059

Total other non-current assets
$
48,352

 
$
48,077



Other accrued liabilities (in thousands)
 
As of
 
 
Sales and marketing programs
$
44,689

 
$
54,582

Warranty obligation
40,967

 
44,888

Freight
4,490

 
6,827

Other
33,701

 
37,445

Total other accrued liabilities
$
123,847

 
$
143,742


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:7/31/154
For Period end:6/28/15
12/31/1410-K,  5,  SD
6/29/1410-Q
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Filing Submission 0001122904-15-000057   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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