|
SYNOPSYS, INC. | |||
|
Unaudited Consolidated Statements of Cash Flows (1) | |||
|
(in thousands) | |||
|
|
|
|
|
|
|
Nine Months Ended July 31, | ||
|
|
2018 |
|
2017 |
|
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
Net income |
$ 178,190 |
|
$ 256,645 |
|
Adjustments to reconcile net income to net cash provided by operating |
|
|
|
|
activities: |
|
|
|
|
Amortization and depreciation |
150,245 |
|
144,112 |
|
Stock compensation |
102,540 |
|
79,697 |
|
Allowance for doubtful accounts |
3,368 |
|
1,289 |
|
(Gain) loss on sale of investments |
4 |
|
(1) |
|
(Gain) loss on sale of property and equipment |
(97) |
|
— |
|
Write-down of long-term investments |
— |
|
1,300 |
|
Deferred income taxes |
5,509 |
|
(10,960) |
|
Net changes in operating assets and liabilities, net of |
|
|
|
|
acquired assets and liabilities: |
|
|
|
|
Accounts receivable |
(41,695) |
|
42,413 |
|
Prepaid and other current assets |
(58,409) |
|
(13,636) |
|
Other long-term assets |
(31,659) |
|
(33,416) |
|
Accounts payable and accrued liabilities |
(56,491) |
|
36,129 |
|
Income taxes |
(35,014) |
|
(19,169) |
|
Deferred revenue |
76,780 |
|
(34,692) |
|
Net cash provided by operating activities |
293,271 |
|
449,711 |
|
|
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
Proceeds from sales and maturities of short-term investments |
12,449 |
|
130,529 |
|
Purchases of short-term investments |
— |
|
(137,486) |
|
Proceeds from sales of long-term investments |
494 |
|
839 |
|
Purchases of long-term investments |
(645) |
|
— |
|
Proceeds from sales of property and equipment |
1,662 |
|
— |
|
Purchases of property and equipment |
(70,469) |
|
(50,227) |
|
Cash paid for acquisitions and intangible assets, net of cash acquired |
(646,687) |
|
(187,624) |
|
Capitalization of software development costs |
(2,714) |
|
(3,130) |
|
Other |
— |
|
2,100 |
|
Net cash used in investing activities |
(705,910) |
|
(244,999) |
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
Proceeds from credit facility |
615,000 |
|
270,000 |
|
Repayment of debt |
(137,500) |
|
(38,750) |
|
Issuances of common stock |
72,722 |
|
78,718 |
|
Payments for taxes related to net share settlement of equity awards |
(42,636) |
|
(35,376) |
|
Purchase of equity forward contract |
(33,000) |
|
— |
|
Purchases of treasury stock |
(367,000) |
|
(300,000) |
|
Other |
1,759 |
|
(482) |
|
Net cash provided by (used in) financing activities |
109,345 |
|
(25,890) |
|
Effect of exchange rate changes on cash and cash equivalents |
(3,826) |
|
(456) |
|
Net change in cash and cash equivalents |
(307,120) |
|
178,366 |
|
Cash and cash equivalents, beginning of the year |
1,048,356 |
|
976,620 |
|
Cash and cash equivalents, end of the period |
$ 741,236 |
|
$ 1,154,986 |
|
| |||
|
(1) Synopsys' third quarter of fiscal year 2018 and 2017 ended on August 4, 2018 and July 29, 2017, respectively. For presentation purposes, we refer to the closest calendar month end. |
