KLA(KLAC) - 2023 Q3 - Quarterly Report

Liquidity and Working Capital - Working capital increased to $4.60 billion as of March 31, 2023, up by$302.4 million from $4.30 billion as of June 30, 2022 [232] - The company's principal sources of liquidity as of March 31, 2023, included$2.89 billion in cash, cash equivalents, and marketable securities [232] - The company's liquidity is supported by a $1.50 billion Revolving Credit Facility, which is sufficient to meet working capital needs, capital expenditures, and other obligations for at least the next 12 months [232] Investment Portfolio and Market Risks - The company's fixed income securities portfolio was valued at$1.08 billion as of March 31, 2023, with a potential decline of $9.4 million if interest rates increased by 100 bps [238] - The company's investment portfolio is subject to interest rate risk, with a potential decline in value if market interest rates increase [238] - The fair value of the company's equity investment in a publicly traded company was$19.8 million as of March 31, 2023, with a potential decline of $10 million if market prices fell by 50$235.7 million in foreign currency as of March 31, 2023, with a potential decrease of $80.5 million in fair value if currency exchange rates moved adversely by 10$5.79 billion as of March 31, 2023, with a principal amount of $5.95 billion [239] - The company had no outstanding borrowings under its Revolving Credit Facility as of March 31, 2023, with an annual commitment fee of 9 bps [240] - The company's credit ratings as of March 31, 2023, were A from Fitch, A2 from Moody's, and A from S&P [234] Internal Controls and Financial Reporting - No changes in internal control over financial reporting during the most recent fiscal quarter that materially affected or are likely to materially affect the company's financial reporting [249] - Disclosure Controls are designed to ensure timely and accurate reporting of required information under the Exchange Act, including components of internal control over financial reporting [247] - Limitations of Disclosure Controls include the inability to prevent all errors and fraud due to inherent system constraints, resource limitations, and potential circumvention [248] - CEO and CFO certifications are included in the report, referencing Rule 13a-14 of the Exchange Act, and should be read in conjunction with the Controls and Procedures section [246]