NOVELLUS SYSTEMS INC
CIK:0000836106|SEC Filings
|
Condensed Consolidated Statements Of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2012
|
Mar. 26, 2011
|
|
| Condensed Consolidated Statements Of Income [Abstract] | ||
| Net sales | $ 326,722 | $ 413,185 |
| Cost of sales | 172,196 | 204,907 |
| Gross profit | 154,526 | 208,278 |
| Selling, general and administrative | 49,626 | 49,340 |
| Research and development | 49,149 | 46,721 |
| Restructuring charges, net | 166 | 181 |
| Total operating expenses | 98,941 | 96,242 |
| Operating income | 55,585 | 112,036 |
| Interest income | 1,403 | 1,497 |
| Interest expense | (5,648) | (426) |
| Other expense, net | (295) | (354) |
| Income before provision for income taxes | 51,045 | 112,753 |
| Provision for income taxes | 6,599 | 16,395 |
| Net income | $ 44,446 | $ 96,358 |
| Net income per share: | ||
| Basic | $ 0.63 | $ 1.07 |
| Diluted | $ 0.59 | $ 1.04 |
| Shares used in basic per share calculations | 70,452 | 90,321 |
| Shares used in diluted per share calculations | 75,682 | 92,855 |
|
Fair Value Of Financial Instruments (Condensed Consolidated Balance Sheet Presentation Of Financial Instruments Measured And Recorded At Fair Value On A Recurring Basis, Excluding Accrued Interest Components) (Details) (USD $)
In Thousands, unless otherwise specified |
Mar. 31, 2012
|
Dec. 31, 2011
|
||||
|---|---|---|---|---|---|---|
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | $ 1,048,666 | $ 957,595 | ||||
| Liabilities fair value disclosure recurring | 314 | 691 | ||||
|
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 350,306 | 536,326 | ||||
| Liabilities fair value disclosure recurring | 0 | 0 | ||||
|
Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 656,891 | 368,678 | ||||
| Liabilities fair value disclosure recurring | 57 | 213 | ||||
|
Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 41,469 | 52,591 | ||||
| Liabilities fair value disclosure recurring | 257 | 478 | ||||
|
Cash And Cash Equivalents [Member] | Money Market Funds [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 271,313 | 454,208 | ||||
|
Cash And Cash Equivalents [Member] | Money Market Funds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 271,313 | 454,208 | ||||
|
Cash And Cash Equivalents [Member] | Money Market Funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Cash And Cash Equivalents [Member] | Money Market Funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Cash And Cash Equivalents [Member] | Corporate Bonds [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 2,900 | |||||
|
Cash And Cash Equivalents [Member] | Corporate Bonds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | |||||
|
Cash And Cash Equivalents [Member] | Corporate Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 2,900 | |||||
|
Cash And Cash Equivalents [Member] | Corporate Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | |||||
|
Short-Term Investments [Member] | Municipal Bonds [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 348,665 | 262,793 | ||||
|
Short-Term Investments [Member] | Municipal Bonds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Short-Term Investments [Member] | Municipal Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 348,665 | 262,793 | ||||
|
Short-Term Investments [Member] | Municipal Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Short-Term Investments [Member] | Corporate Bonds [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 131,463 | 49,008 | ||||
|
Short-Term Investments [Member] | Corporate Bonds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Short-Term Investments [Member] | Corporate Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 131,463 | 49,008 | ||||
|
Short-Term Investments [Member] | Corporate Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Short-Term Investments [Member] | Government Sponsored Agency Bonds [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 57,096 | |||||
|
Short-Term Investments [Member] | Government Sponsored Agency Bonds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | |||||
|
Short-Term Investments [Member] | Government Sponsored Agency Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 57,096 | |||||
|
Short-Term Investments [Member] | Government Sponsored Agency Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | |||||
|
Short-Term Investments [Member] | Variable Rate Demand Notes [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 72,192 | 56,540 | ||||
|
Short-Term Investments [Member] | Variable Rate Demand Notes [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Short-Term Investments [Member] | Variable Rate Demand Notes [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 72,192 | 56,540 | ||||
|
Short-Term Investments [Member] | Variable Rate Demand Notes [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Short-Term Investments [Member] | Auction-Rate Securities [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 9,700 | |||||
|
Short-Term Investments [Member] | Auction-Rate Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | |||||
|
Short-Term Investments [Member] | Auction-Rate Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | |||||
|
Short-Term Investments [Member] | Auction-Rate Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 9,700 | |||||
|
Short-Term Investments [Member] | US Treasury Bonds [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 17,051 | |||||
|
Short-Term Investments [Member] | US Treasury Bonds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | |||||
|
Short-Term Investments [Member] | US Treasury Bonds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 17,051 | |||||
|
Short-Term Investments [Member] | US Treasury Bonds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | |||||
|
Short-Term Investments [Member] | Asset-Backed Securities [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 25,592 | [1] | ||||
|
Short-Term Investments [Member] | Asset-Backed Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | [1] | ||||
|
Short-Term Investments [Member] | Asset-Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 25,592 | [1] | ||||
|
Short-Term Investments [Member] | Asset-Backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | [1] | ||||
|
Other Current Assets [Member] | Derivative Assets [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 1,932 | [1] | 337 | [1] | ||
|
Other Current Assets [Member] | Derivative Assets [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | [1] | 0 | [1] | ||
|
Other Current Assets [Member] | Derivative Assets [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 1,932 | [1] | 337 | [1] | ||
|
Other Current Assets [Member] | Derivative Assets [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | [1] | 0 | [1] | ||
|
Non-Current Restricted Cash And Cash Equivalents [Member] | Money Market Funds [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 78,993 | 82,118 | ||||
|
Non-Current Restricted Cash And Cash Equivalents [Member] | Money Market Funds [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 78,993 | 82,118 | ||||
|
Non-Current Restricted Cash And Cash Equivalents [Member] | Money Market Funds [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Non-Current Restricted Cash And Cash Equivalents [Member] | Money Market Funds [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Long-Term Investments [Member] | Auction-Rate Securities [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 41,469 | 42,891 | ||||
|
Long-Term Investments [Member] | Auction-Rate Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Long-Term Investments [Member] | Auction-Rate Securities [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 0 | 0 | ||||
|
Long-Term Investments [Member] | Auction-Rate Securities [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Assets fair value disclosure recurring | 41,469 | 42,891 | ||||
|
Other Current Liabilities [Member] | Derivative Liabilities [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Liabilities fair value disclosure recurring | 57 | [1] | 213 | [1] | ||
|
Other Current Liabilities [Member] | Derivative Liabilities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Liabilities fair value disclosure recurring | 0 | [1] | 0 | [1] | ||
|
Other Current Liabilities [Member] | Derivative Liabilities [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Liabilities fair value disclosure recurring | 57 | [1] | 213 | [1] | ||
|
Other Current Liabilities [Member] | Derivative Liabilities [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Liabilities fair value disclosure recurring | 0 | [1] | 0 | [1] | ||
|
Other Non-Current Liabilities [Member] | Embedded Derivative Liabilities [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Liabilities fair value disclosure recurring | 257 | [1] | 478 | [1] | ||
|
Other Non-Current Liabilities [Member] | Embedded Derivative Liabilities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Liabilities fair value disclosure recurring | 0 | [1] | 0 | [1] | ||
|
Other Non-Current Liabilities [Member] | Embedded Derivative Liabilities [Member] | Significant Other Observable Inputs (Level 2) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Liabilities fair value disclosure recurring | 0 | [1] | 0 | [1] | ||
|
Other Non-Current Liabilities [Member] | Embedded Derivative Liabilities [Member] | Significant Unobservable Inputs (Level 3) [Member]
|
||||||
| Fair Value Assets And Liabilities Measured On Recurring Basis [Line Items] | ||||||
| Liabilities fair value disclosure recurring | $ 257 | [1] | $ 478 | [1] | ||
|
||||||