Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

KLA Corp., consolidated balance sheet: assets

US$ in thousands

	Jun 30, 2024	Jun 30, 2023	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020	Jun 30, 2019
Cash and cash equivalents	1,977,129)	1,927,865)	1,584,908)	1,434,610)	1,234,409)	1,015,994)
Marketable securities	2,526,866)	1,315,294)	1,123,100)	1,059,912)	746,063)	723,391)
Accounts receivable, net	1,833,041)	1,753,361)	1,811,877)	1,305,479)	1,107,413)	990,113)
Inventories	3,034,781)	2,876,784)	2,146,889)	1,575,380)	1,310,985)	1,262,500)
Deferred costs of revenue	279,879)	133,067)	124,487)	59,953)	77,219)	70,721)
Prepaid expenses	124,969)	121,204)	108,942)	76,649)	74,955)	88,387)
Prepaid income and other taxes	102,398)	64,901)	89,713)	68,847)	56,809)	51,889)
Contract assets	69,259)	117,137)	114,747)	91,052)	99,876)	94,015)
Other current assets	82,822)	62,419)	64,248)	24,366)	15,816)	18,065)
Other current assets	659,327)	498,728)	502,137)	320,867)	324,675)	323,077)
Current assets	10,031,144)	8,372,032)	7,168,911)	5,696,248)	4,723,545)	4,315,075)
Land, property and equipment, net	1,109,968)	1,031,841)	849,929)	663,027)	519,824)	448,799)
Goodwill, net	2,015,726)	2,278,820)	2,320,049)	2,011,172)	2,045,402)	2,211,858)
Deferred income taxes	915,241)	816,899)	579,173)	270,461)	236,797)	206,141)
Purchased intangible assets, net	668,764)	935,303)	1,194,414)	1,185,311)	1,391,413)	1,560,670)
Executive Deferred Savings Plan (EDSP)	303,365)	256,846)	224,188)	266,199)	213,487)	207,581)
Operating lease ROU assets	231,812)	208,706)	126,444)	102,883)	100,790)	—)
Other non-current assets	157,546)	171,910)	133,980)	75,823)	48,702)	58,392)
Other non-current assets	692,723)	637,462)	484,612)	444,905)	362,979)	265,973)
Non-current assets	5,402,422)	5,700,325)	5,428,177)	4,574,876)	4,556,415)	4,693,441)
Total assets	15,433,566)	14,072,357)	12,597,088)	10,271,124)	9,279,960)	9,008,516)

Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).

Liquidity and Current Assets: Cash and cash equivalents increased steadily from 1,015,994 thousand USD in mid-2019 to 1,977,129 thousand USD by mid-2024, indicating strengthened liquidity. Marketable securities showed a significant rise, particularly between 2023 and 2024, nearly doubling from 1,315,294 thousand USD to 2,526,866 thousand USD, suggesting an emphasis on short-term investment assets. Accounts receivable grew consistently, peaking at 1,831,041 thousand USD by 2024, reflecting increased sales or credit extended to customers. Inventories rose sharply over the period, from 1,262,500 thousand USD to 3,034,781 thousand USD, signaling growing stock levels which may indicate preparation for sales growth or potential overstocking risks.
Current Asset Components: Deferred costs of revenue more than tripled from 70,721 thousand USD in 2019 to 279,879 thousand USD in 2024, indicating increased prepaid expenditures related to revenue generation. Prepaid expenses exhibited moderate growth, consistent with company expansion or inflation effects. Contract assets initially declined but showed variability, ending lower at 69,259 thousand USD compared to earlier years, possibly reflecting changes in contract milestones or revenue recognition timing. Other current assets showed mixed figures across two reported lines, both increasing over time, which could denote expansion in miscellaneous short-term asset categories.
Non-Current Assets and Long-term Investments: Land, property, and equipment exhibited continuous growth from 448,799 thousand USD to 1,109,968 thousand USD, reflecting ongoing capital expenditure and asset base expansion. Goodwill declined overall, from 2,211,858 thousand USD to 2,015,726 thousand USD, suggesting impairment or divestiture activities. Deferred income taxes expanded significantly, especially between 2021 and 2024, to 915,241 thousand USD, indicating increased tax obligations or timing differences. Purchased intangible assets showed a downward trend, declining from 1,560,670 thousand USD to 668,764 thousand USD, which may point to amortization or disposals. The Executive Deferred Savings Plan asset steadily increased, suggesting growing employee benefit assets. Operating lease right-of-use assets, introduced after 2019, consistently rose to 231,812 thousand USD by 2024, reflecting adoption or expansion of lease commitments. Other non-current assets grew moderately, indicating diversified long-term holdings.
Total Asset Base: Total assets increased year-over-year, growing from 9,008,516 thousand USD in 2019 to 15,433,566 thousand USD in 2024. This growth was driven mainly by significant increases in current assets, land and equipment, and deferred tax assets, indicative of scaling operations, enhanced investment activities, and evolving tax positions. The asset composition reveals a strategic emphasis on liquidity and short-term investments alongside steady investments in fixed assets, while intangible assets have been reduced, potentially reflecting a shift in asset strategy or asset impairment considerations.

Assets: Selected Items

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Current Assets: Selected Items

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KLA Corp. (NASDAQ:KLAC)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items