Synopsys Posts Financial Results for Third Quarter Fiscal Year 2023

 

SYNOPSYS, INC.


Unaudited Condensed Consolidated Balance Sheets (1)


(in thousands, except par value amounts)







July 31, 2023

October 31, 2022


ASSETS:




Current assets:




  Cash and cash equivalents

$          1,686,144

$          1,417,608


  Short-term investments

148,443

147,913


          Total cash, cash equivalents and short-term investments

1,834,587

1,565,521


  Accounts receivable, net

666,577

796,091


  Inventories

282,791

211,927


  Prepaid and other current assets

484,357

439,130


          Total current assets

3,268,312

3,012,669


Property and equipment, net

535,973

483,300


Operating lease right-of-use assets, net

574,727

559,090


Goodwill

3,887,860

3,842,234


Intangible assets, net

336,723

386,446


Deferred income taxes

813,810

670,653


Other long-term assets

505,826

463,695


           Total assets

$          9,923,231

$          9,418,087






LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST AND
STOCKHOLDERS' EQUITY:




Current liabilities:




  Accounts payable and accrued liabilities

$             905,464

$             809,403


  Operating lease liabilities

80,192

54,274


  Deferred revenue

1,744,326

1,910,822


           Total current liabilities

2,729,982

2,774,499


Long-term operating lease liabilities

590,827

581,273


Long-term deferred revenue

194,860

154,472


Long-term debt

18,165

20,824


Other long-term liabilities

389,516

327,829


           Total liabilities

3,923,350

3,858,897


Redeemable non-controlling interest

35,877

38,664


Stockholders' equity:




  Preferred stock, $0.01 par value: 2,000 shares authorized; none outstanding


  Common stock, $0.01 par value: 400,000 shares authorized; 152,125 and 152,375
shares outstanding, respectively

1,521

1,524


  Capital in excess of par value

1,257,382

1,487,126


  Retained earnings

6,389,825

5,534,307


  Treasury stock, at cost: 5,136 and 4,886 shares, respectively

(1,542,889)

(1,272,955)


  Accumulated other comprehensive income (loss)

(147,284)

(234,277)


           Total Synopsys stockholders' equity

5,958,555

5,515,725


Non-controlling interest

5,449

4,801


           Total stockholders' equity

5,964,004

5,520,526


           Total liabilities, redeemable non-controlling interest and stockholders' equity

$          9,923,231

$          9,418,087






(1) Synopsys' third quarter of fiscal year 2023 ended July 29, 2023 and its fiscal year 2022 ended on October 29, 2022, respectively.
For presentation purposes, we refer to the closest calendar month end.





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