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SYNOPSYS, INC. Unaudited Consolidated Statements of Cash Flows (1) (in thousands) | |||
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Nine Months Ended July 31, | ||
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2013 |
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2012 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income |
$190,910 |
|
$153,321 |
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Adjustments to reconcile net income to net cash provided by operating |
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activities: |
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Amortization and depreciation |
141,756 |
|
115,076 |
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Stock compensation |
49,719 |
|
54,078 |
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Allowance for doubtful accounts |
901 |
|
973 |
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Write-down of long-term investments |
- |
|
452 |
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Gain on sale of investments |
(101) |
|
(650) |
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Deferred income taxes |
7,272 |
|
10,553 |
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Net changes in operating assets and liabilities, net of |
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acquired assets and liabilities: |
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Accounts receivable |
8,207 |
|
14,401 |
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Prepaid and other current assets |
(14,617) |
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6,116 |
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Other long-term assets |
(20,292) |
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(7,146) |
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Accounts payable and other liabilities |
(48,188) |
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(15,490) |
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Income taxes |
(475) |
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(32,370) |
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Deferred revenue |
(9,722) |
|
83,822 |
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Net cash provided by operating activities |
305,370 |
|
383,136 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales and maturities of short-term investments |
- |
|
166,132 |
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Purchases of short-term investments |
- |
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(18,179) |
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Proceeds from sales of long-term investments |
222 |
|
506 |
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Proceeds from sale of property and equipment |
2,000 |
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- |
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Purchases of property and equipment |
(47,624) |
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(32,718) |
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Cash paid for acquisitions, net of cash acquired |
- |
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(584,418) |
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Capitalization of software development costs |
(2,681) |
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(2,308) |
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Net cash used in investing activities |
(48,083) |
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(470,985) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Principal payments on capital leases |
(3,751) |
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(5,177) |
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Proceeds from credit facility and term loan |
- |
|
250,000 |
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Acquisition of non-controlling interest |
(44,004) |
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- |
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Repayment of debts |
(22,975) |
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(128,656) |
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Issuances of common stock |
90,529 |
|
128,556 |
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Purchases of treasury stock |
(69,999) |
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(40,000) |
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Other |
(2,030) |
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- |
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Net cash (used in) provided by financing activities |
(52,230) |
|
204,723 |
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Effect of exchange rate changes on cash and cash equivalents |
(13,069) |
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(8,184) |
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Net change in cash and cash equivalents |
191,988 |
|
108,690 |
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Cash and cash equivalents, beginning of the year |
700,382 |
|
855,077 |
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Cash and cash equivalents, end of the period |
$892,370 |
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$963,767 |
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(1) Synopsys' third quarter of fiscal 2013 ended on August 3, 2013. For presentation purposes, we refer to a calendar month ending July 31. Synopsys' first quarter of fiscal 2012 includes an extra week. |
