B456 SYSTEMS, INC. | 2011 | FY | 3


The following table presents production start-up expenditures included in the Company's consolidated statements of operations (in thousands):

 
  Year Ended December 31,  
Production start-up expenditures
  2009   2010   2011  

Aggregated production start-up expenditures

  $ 1,524   $ 26,685   $ 13,810  

Production start-up reimbursements

        (5,621 )   (4,589 )
               

Production start-up expenses

  $ 1,524   $ 21,064   $ 9,221  
               

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The following table sets forth the activity in the allowance for each of the periods set forth below (in thousands):

 
  December 31, 2009   December 31, 2010   December 31, 2011  

Beginning balance

  $ 1,486   $ 1,661   $ 1,915  

Provision

    13     228     868  

Write-offs and adjustments

    162     26     (1,693 )
               

Ending balance

  $ 1,661   $ 1,915   $ 1,090  
               

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The Company groups its revenues into four revenue categories. Revenue for these categories is as follows (in thousands):

 
  Year Ended December 31,  
 
  2009   2010   2011  

Transportation

  $ 45,298   $ 43,673   $ 84,248  

Electric grid

    11,080     13,557     39,555  

Commercial

    20,141     16,596     15,277  

Services

    14,530     23,486     20,067  
               

 

  $ 91,049   $ 97,312   $ 159,147  
               

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Items Measured at Fair Value on a Recurring Basis—The following tables show assets measured at fair value on a recurring basis and the input categories associated with those assets (in thousands):

 
   
  As of December 31, 2010  
 
  Fair Value at
December 31, 2010
  Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
  Significant Other
Observable Inputs (Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 

Asset:

                         

Money market funds

  $ 174,603   $ 174,603   $   $  

U.S. Treasury and government agency securities

    17,333         17,333        

 

 
   
  As of December 31, 2011  
 
  Fair Value at
December 31, 2011
  Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
  Significant Other
Observable
Inputs
(Level 2)
  Significant
Unobservable
Inputs
(Level 3)
 

Assets:

                         

Money market funds

  $ 160,944   $ 160,944   $   $  

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Asset Classification
  Estimated Useful Life

Computer equipment and software

  3 years

Furniture and fixtures

  5 years

Automobiles

  5 years

Machinery and equipment

  5-7 years

Buildings

  10-20 years

Leasehold improvements

  Lesser of useful life or lease term

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The following potentially dilutive securities were excluded from the calculation of diluted net loss per share, as the effect would have been anti-dilutive (in thousands):

 
  December 31,
2009
  December 31,
2010
  December 31,
2011
 

Convertible debt upon conversion to common stock

            19,965  

Warrants to purchase common stock

    45     45     45  

Options to purchase common stock

    10,640     10,783     11,967  

Unvested restricted stock units

        203     5,366  
               

 

    10,685     11,031     37,343  
               

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  December 31, 2010   December 31, 2011  

Property, plant and equipment (based on location

             

of asset)

             

United States

  $ 72,778   $ 72,539  

China

    61,830     65,948  

Korea

    9,390     6,716  
           

 

  $ 143,998   $ 145,203  
           

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Information about the Company's operations in different geographic regions is presented in the tables below (in thousands):

 
  Year Ended December 31,  
 
  2009   2010   2011  

Geographic revenues (based on shipment destination

                   

or services location)

                   

United States

  $ 48,876   $ 70,856   $ 67,014  

Finland

            41,264  

Chile

    8,505     233     15,891  

China

    8,391     6,875     11,589  

Germany

    6,023     7,933     5,866  

United Kingdom

    7,494     1,688     3,912  

Korea

    669     333     3,069  

Japan

    479     786     2,588  

Austria

    1,351     1,250     2,385  

Czech Republic

    3,086     1,633      

Mexico

    4,185     1,024      

Malaysia

    75     204      

Other

    1,915     4,497     5,569  
               

 

  $ 91,049   $ 97,312   $ 159,147  
               

 


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