v3.19.2
Supplemental Financial Information
6 Months Ended
Aug. 03, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Financial Information Supplemental Financial Information (in thousands)
Consolidated Balance Sheets
 
 
August 3,
2019
 
February 2,
2019
Inventories:
 
 
 
Work-in-process
$
165,134

 
$
162,384

Finished goods
75,287

 
113,621

Total inventories
$
240,421

 
$
276,005


        
 
August 3,
2019
 
February 2,
2019
Property and equipment, net:
 
 
 
Machinery and equipment
$
589,903

 
$
615,329

Land, buildings, and leasehold improvements
310,684

 
287,047

Computer software
99,864

 
105,539

Furniture and fixtures
24,785

 
23,924

 
1,025,236

 
1,031,839

Less: Accumulated depreciation and amortization
(705,475
)
 
(712,861
)
Total property and equipment, net
$
319,761

 
$
318,978



Current accrued liabilities are comprised of the following at August 3, 2019 and February 2, 2019, respectively:

 
August 3,
2019
 
February 2,
2019
Accrued liabilities:
 
 
 
Contract liabilities
$
123,023

 
$
142,378

Technology license obligations
67,652

 
48,018

Lease liabilities
26,874

 

Accrued income tax payable
17,238

 
47,079

Other
78,200

 
98,034

Total accrued liabilities
$
312,987

 
$
335,509


Accumulated Other Comprehensive Income (Loss)
As of August 3, 2019, there are no changes in accumulated other comprehensive income (loss) by components. The changes in accumulated other comprehensive income (loss) by components for the comparative period are presented in the following table:
 
Unrealized Gain
(Loss) on
Marketable
Securities (1)
Balance at February 3, 2018
$
(2,322
)
Other comprehensive income (loss) before reclassifications
(733
)
Amounts reclassified from accumulated other comprehensive income (loss)
3,055

Net current-period other comprehensive income (loss), net of tax
2,322

Balance at August 4, 2018
$


(1) The amounts of gains (losses) associated with the Company's marketable securities reclassified from accumulated other comprehensive income (loss) are recorded in interest and other income, net.

Share Repurchase Program
On November 17, 2016, the Company announced that its Board of Directors authorized a $1.0 billion share repurchase program. On October 16, 2018, the Company announced that its Board of Directors authorized a $700 million addition to the balance of its existing share repurchase program. As of August 3, 2019, there was $890 million remaining available for future share repurchases. The Company intends to effect share repurchases in accordance with the conditions of Rule 10b-18 under the Exchange Act, but may also make repurchases in the open market outside of Rule 10b-18 or in privately negotiated transactions. The share repurchase program will be subject to market conditions and other factors, and does not obligate the Company to repurchase any dollar amount or number of its common shares and the repurchase program may be extended, modified, suspended or discontinued at any time.
The Company repurchased 3.0 million of its common shares for $64.3 million during the six months ended August 3, 2019. The repurchased shares were retired immediately after the repurchases were completed. The Company records all repurchases, as well as investment purchases and sales, based on their trade date. The Company did not repurchase any common shares during the six months ended August 4, 2018.
Other
In June 2019, the Company executed a funded research and development agreement with a business partner. In conjunction with the agreement, the Company issued a warrant to purchase nine million of the Company's common shares, subject to certain vesting and exercise conditions.