SEC Filings

20-F
TOWER SEMICONDUCTOR LTD filed this Form 20-F on 04/10/2017
Entire Document
 

 
 
 
TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars and shares in thousands)
 
   
As of December 31,
 
   
2016
   
2015
 
A S S E T S
           
             
CURRENT ASSETS
           
Cash and cash equivalents
 
$
355,284
   
$
175,575
 
Short term deposits
   
34,093
     
30,000
 
Trade accounts receivable
   
141,048
     
110,065
 
Inventories
   
137,532
     
105,681
 
Other current assets
   
30,041
     
25,406
 
Total current assets
   
697,998
     
446,727
 
                 
LONG-TERM INVESTMENTS
   
25,624
     
11,737
 
                 
PROPERTY AND EQUIPMENT, NET
   
616,686
     
459,533
 
                 
INTANGIBLE ASSETS, NET
   
28,129
     
34,468
 
                 
GOODWILL
   
7,000
     
7,000
 
                 
OTHER ASSETS, NET
   
4,447
     
5,903
 
                 
TOTAL ASSETS
 
$
1,379,884
   
$
965,368
 
                 
LIABILITIES AND SHAREHOLDERS' EQUITY
               
                 
CURRENT LIABILITIES
               
Short-term debt and current maturities of loans and debentures
 
$
48,084
   
$
33,259
 
Trade accounts payable
   
99,262
     
91,773
 
Deferred revenue and customers' advances
   
26,169
     
23,373
 
Employee related liabilities
   
49,517
     
44,734
 
Other current liabilities
   
24,083
     
17,980
 
Total current liabilities
   
247,115
     
211,119
 
                 
LONG-TERM LOANS FROM BANKS
   
133,163
     
210,538
 
                 
DEBENTURES
   
162,981
     
45,481
 
                 
LONG-TERM CUSTOMERS' ADVANCES
   
41,874
     
21,102
 
                 
EMPLOYEE RELATED LIABILITES
   
14,176
     
14,189
 
                 
DEFERRED TAX LIABILITY
   
95,233
     
69,744
 
                 
OTHER LONG-TERM LIABILITIES    
2,728
     
7,609
 
                 
Total liabilities
   
697,270
     
579,782
 
                 
Ordinary shares of NIS 15 par value:
   
369,057
     
326,572
 
150,000 authorized as of December 31, 2016 and 2015
               
93,071 and 92,985 issued and outstanding, respectively, as of December 31, 2016
               
82,144 and 82,058 issued and outstanding, respectively, as of December 31, 2015
               
Additional paid-in capital
   
1,318,725
     
1,273,545
 
Capital notes
   
41,264
     
48,553
 
Cumulative stock based compensation
   
68,921
     
58,209
 
Accumulated other comprehensive loss
   
(27,827
)
   
(26,810
)
Accumulated deficit
   
(1,071,036
)
   
(1,273,654
)
     
699,104
     
406,415
 
Treasury stock, at cost - 86 shares
   
(9,072
)
   
(9,072
)
THE COMPANY'S SHAREHOLDERS' EQUITY
   
690,032
     
397,343
 
Non controlling interest
   
(7,418
)
   
(11,757
)
TOTAL EQUITY
   
682,614
     
385,586
 
                 
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
 
$
1,379,884
   
$
965,368
 
 
See notes to consolidated financial statements.           
F - 4