There's no debt at XLNX. There's no debt covenants to worry about.
I don't see it as a big negative that inventory is not being written off or that amortization, acquisition costs, etc. are being ignored.
Please explain your exasperation as it relates to XLNX and the chip business! And why you see PMC Sierra's accounting as being better. Just having a negative number isn't necessarily better.
On the operational side, having high tech products in inventory is never good. Having 205 days and trending higher is terrible. Who will want "old" chips at present day value in the future? why not shut the chip line down?205 days!!