Photronics (PLAB) 8-K Photronics Reports Second Quarter Fiscal 2022 Results and Updates Long-Term Target Model

Exhibit 99.3

PHOTRONICS, INC.

Condensed Consolidated Balance Sheets

(in thousands)

(Unaudited)

	May 1, 2022		October 31, 2021
Assets
Current assets:
Cash and cash equivalents	$	329,282	$	276,670
Accounts receivable		190,259		174,447
Inventories		58,437		55,249
Other current assets		52,864		44,250
Total current assets		630,842		550,616
Property, plant and equipment, net		659,881		696,553
Other assets		41,661		47,033
Total assets	$	1,332,384	$	1,294,202
Liabilities and Equity
Current liabilities:
Current portion of long-term debt	$	12,410	$	22,248
Accounts payable and accrued liabilities		172,205		153,900
Total current liabilities		184,615		176,148
Long-term debt		70,138		89,446
Other liabilities		25,048		28,046
Photronics, Inc. shareholders’ equity		836,752		823,692
Noncontrolling interests		215,831		176,870
Total equity		1,052,583		1,000,562
Total liabilities and equity	$	1,332,384	$	1,294,202