Cadence Design Systems, Inc.

Condensed Consolidated Balance Sheets

July 4, 2015 and January 3, 2015

(In thousands)

(Unaudited)

July 4, 2015

January 3, 2015

Current assets:

Cash and cash equivalents

$      647,851

$             932,161

Short-term investments

96,560

90,445

Receivables, net

131,325

122,492

Inventories

62,172

56,394

2015 notes hedges

-

523,930

Prepaid expenses and other

129,320

126,313

Total current assets

1,067,228

1,851,735

Property, plant and equipment, net of accumulated

depreciation of $569,202 and $552,551, respectively

229,838

230,112

Goodwill

553,831

553,767

Acquired intangibles, net of accumulated amortization of 

$185,382 and $154,814, respectively

328,338

360,932

Long-term receivables

1,628

3,644

Other assets

199,790

209,366

Total assets

$          3,209,556

Current liabilities:

Convertible notes

$                -

$             342,499

2015 notes embedded conversion derivative

-

523,930

Accounts payable and accrued liabilities

202,794

225,375

Current portion of deferred revenue

324,569

301,287

Total current liabilities

1,393,091

Long-term liabilities:

Long-term portion of deferred revenue

36,402

54,726

Long-term debt

348,733

348,676

Other long-term liabilities

70,940

79,489

Total long-term liabilities

456,075

482,891

Stockholders' equity

1,397,215

1,333,574

Total liabilities and stockholders' equity

$   2,380,653

$          3,209,556