Table of Contents
Based on past performance and current expectations, we believe our cash and cash equivalents, investments, cash generated from operations and our ability to access capital markets will satisfy our working capital needs, capital expenditures, investment requirements, stock repurchases, contractual obligations, commitments and other liquidity requirements associated with our operations through at least the next 12 months. From time to time, we evaluate strategic opportunities, including potential acquisitions, divestitures or investments in complementary businesses and we anticipate continuing to make such evaluations. We may also access capital markets through the issuance of debt or additional shares of common stock in connection with the acquisition of complementary businesses or other significant assets or for other strategic opportunities.
Contractual Obligations At
Payments due by period Less than One to Three to More Than Total One Year Three Years Five Years Five Years Operating lease obligations
$13,986 $3,878 $6,717 $3,217 $174Purchase obligations 175,767 170,718 3,357 1,689 3 Other long-term liabilities1 - - - - - Total $189,753 $174,596 $10,074 $4,906 $1771 Other long-term liabilities as of June 30, 2013include long-term tax contingencies, other tax liabilities and deferrals of $10.2 millionand other long-term contingent liabilities (for example, warranties) of $2.6 million. These liabilities are not included in the table above as they will either not be settled in cash and/or the timing of any payments is uncertain. Operating leases include rental amounts due on leases of certain office and manufacturing space under the terms of non-cancellable operating leases. These leases expire at various times through May 2022. All of the lease agreements provide for rental adjustments for increases in base rent, property taxes and general property maintenance that would be recognized as rent expense, if applicable. Purchase obligations represent purchase commitments, including open purchase orders and contracts, and are generally related to the purchase of goods and services in the ordinary course of business such as raw materials, supplies and capital equipment. Financial Condition The following table sets forth our cash, cash equivalents and investments (in thousands): June 30, June 24, 2013 2012 Change Cash and cash equivalents $190,069 $178,885 $11,184Short-term investments 833,846 565,628 268,218 Total cash, cash equivalents, and short-term investments $1,023,915 $744,513