CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

First Quarter of

Fiscal Year End

2014

2013

Assets

Current assets:

   Cash and cash equivalents

$        165,226

$         147,227

   Accounts receivables, net

397,740

337,932

   Other receivables

21,505

23,143

   Inventories, net

266,700

254,311

   Deferred income taxes

40,186

38,597

   Other current assets

39,514

35,807

      Total current assets

930,871

837,017

Property and equipment, net

149,609

142,975

Goodwill

1,990,457

1,989,470

Other purchased intangible assets, net

583,075

619,399

Other non-current assets

123,571

111,979

      Total assets

$     3,777,583

$      3,700,840

Liabilities 

Current liabilities:

   Current portion of long-term debt

$         52,054

$         106,402

   Accounts payable

120,148

112,522

   Accrued compensation and benefits

83,011

95,866

   Deferred revenue

207,497

159,295

   Accrued warranty expense

18,136

17,781

   Other accrued liabilities

82,126

85,124

      Total current liabilities

562,972

576,990

Non-current portion of long-term debt

612,598

652,056

Non-current deferred revenue

23,127

20,431

Deferred income taxes

138,962

136,399

Other non-current liabilities

86,373

80,982

      Total liabilities

1,424,032

1,466,858

Commitments and contingencies

Equity

Shareholders' equity:

   Common stock

1,159,907

1,106,017

   Retained earnings

1,150,304

1,081,695

   Accumulated other comprehensive income 

31,802

33,194

Total Trimble Navigation Ltd. shareholders' equity

2,342,013

2,220,906

Noncontrolling interests 

11,538

13,076

      Total equity

2,353,551

2,233,982

      Total liabilities and equity

$     3,777,583

$      3,700,840