| ANSYS, INC. AND SUBSIDIARIES | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (Unaudited) | |||||||
| (in thousands) | June 30, 2019 | December 31, 2018 | |||||
| ASSETS: | |||||||
| Cash & short-term investments | $ | 631,696 | $ | 777,364 | |||
| Accounts receivable, net | 297,798 | 317,700 | |||||
| Goodwill | 1,775,734 | 1,572,455 | |||||
| Other intangibles, net | 282,070 | 211,272 | |||||
| Other assets(1) | 525,544 | 387,173 | |||||
| Total assets | $ | 3,512,842 | $ | 3,265,964 | |||
| LIABILITIES & STOCKHOLDERS' EQUITY: | |||||||
| Current deferred revenue | $ | 321,060 | $ | 328,584 | |||
| Other liabilities(1) | 374,496 | 287,833 | |||||
| Stockholders' equity | 2,817,286 | 2,649,547 | |||||
| Total liabilities & stockholders' equity | $ | 3,512,842 | $ | 3,265,964 | |||
(1)Effective January 1, 2019, the Company adopted the new leasing standard, which requires virtually all leases to be recorded on the balance sheet. Results for reporting periods beginning after January 1, 2019 are presented under the new guidance, while prior period amounts are not adjusted and continue to be reported in accordance with previous guidance. The adoption of the new standard resulted in the recognition of approximately $90 million of lease assets, and corresponding lease liabilities, on the Company's condensed consolidated balance sheet as of January 1, 2019.
| ANSYS, INC. AND SUBSIDIARIES | |||||||||||||||
| Condensed Consolidated Statements of Income | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||
| (in thousands, except per share data) |
June 30,
2019 |
June 30,
2018 |
June 30,
2019 |
June 30,
2018 |
|||||||||||
| Revenue: | |||||||||||||||
| Software licenses | $ | 170,499 | $ | 131,147 | $ | 293,543 | $ | 241,193 | |||||||
| Maintenance and service | 198,136 | 174,766 | 392,222 | 347,593 | |||||||||||
| Total revenue | 368,635 | 305,913 | 685,765 | 588,786 | |||||||||||
| Cost of sales: | |||||||||||||||
| Software licenses | 6,204 | 4,099 | 10,912 | 8,010 | |||||||||||
| Amortization | 4,755 | 9,087 | 9,302 | 17,873 | |||||||||||
| Maintenance and service | 29,538 | 27,264 | 55,098 | 53,605 | |||||||||||
| Total cost of sales | 40,497 | 40,450 | 75,312 | 79,488 | |||||||||||
| Gross profit | 328,138 | 265,463 | 610,453 | 509,298 | |||||||||||
| Operating expenses: | |||||||||||||||
| Selling, general and administrative | 120,412 | 95,058 | 232,581 | 182,867 | |||||||||||
| Research and development | 75,302 | 58,357 | 146,040 | 115,887 | |||||||||||
| Amortization | 3,796 | 3,495 | 7,555 | 6,930 | |||||||||||
| Total operating expenses | 199,510 | 156,910 | 386,176 | 305,684 | |||||||||||
| Operating income | 128,628 | 108,553 | 224,277 | 203,614 | |||||||||||
| Interest income | 2,980 | 2,176 | 6,422 | 4,461 | |||||||||||
| Other expense, net | (1,667 | ) | (1,007 | ) | (2,092 | ) | (1,315 | ) | |||||||
| Income before income tax provision | 129,941 | 109,722 | 228,607 | 206,760 | |||||||||||
| Income tax provision | 20,191 | 17,126 | 32,627 | 29,884 | |||||||||||
| Net income | $ | 109,750 | $ | 92,596 | $ | 195,980 | $ | 176,876 | |||||||
| Earnings per share – basic: | |||||||||||||||
| Earnings per share | $ | 1.31 | $ | 1.10 | $ | 2.34 | $ | 2.11 | |||||||
| Weighted average shares | 83,978 | 84,105 | 83,871 | 84,018 | |||||||||||
| Earnings per share – diluted: | |||||||||||||||
| Earnings per share | $ | 1.28 | $ | 1.08 | $ | 2.29 | $ | 2.06 | |||||||
| Weighted average shares | 85,483 | 85,986 | 85,488 | 86,069 | |||||||||||
