|
SYNOPSYS, INC. | |||
|
Unaudited Consolidated Statements of Cash Flows (1) | |||
|
(in thousands) | |||
|
|
|
|
|
|
|
Three Months Ended January 31, | ||
|
|
2017 |
|
2016 |
|
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
Net income |
$ 86,588 |
|
$ 60,035 |
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
|
|
Amortization and depreciation |
49,464 |
|
56,436 |
|
Stock compensation |
25,834 |
|
23,013 |
|
Allowance for doubtful accounts |
229 |
|
250 |
|
(Gain) loss on sale of investments |
(1) |
|
3 |
|
Write-down of long-term investments |
1,300 |
|
- |
|
Deferred income taxes |
12,989 |
|
(3,955) |
|
Net changes in operating assets and liabilities, net of acquired assets and liabilities: |
|
|
|
|
Accounts receivable |
122,192 |
|
30,365 |
|
Prepaid and other current assets |
(24,893) |
|
(27,825) |
|
Other long-term assets |
(13,931) |
|
9,008 |
|
Accounts payable and accrued liabilities |
(129,316) |
|
(145,229) |
|
Income taxes |
(14,201) |
|
(5,174) |
|
Deferred revenue |
(69,372) |
|
(32,097) |
|
Net cash provided by (used in) operating activities |
46,882 |
|
(35,170) |
|
|
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
Proceeds from sales and maturities of short-term investments |
37,284 |
|
40,489 |
|
Purchases of short-term investments |
(35,338) |
|
(34,933) |
|
Proceeds from sales of long-term investments |
- |
|
161 |
|
Purchases of property and equipment |
(18,178) |
|
(15,337) |
|
Cash paid for acquisitions and intangible assets, net of cash acquired |
(187,624) |
|
(18,941) |
|
Capitalization of software development costs |
(1,033) |
|
(920) |
|
Other |
2,100 |
|
- |
|
Net cash used in investing activities |
(202,789) |
|
(29,481) |
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
Proceeds from credit facility |
150,000 |
|
30,000 |
|
Repayment of debt |
(35,000) |
|
(7,500) |
|
Issuances of common stock |
7,205 |
|
1,486 |
|
Payments for taxes related to net share settlement of equity awards |
(6,887) |
|
(5,211) |
|
Purchase of equity forward contract |
(20,000) |
|
(40,000) |
|
Purchases of treasury stock |
(80,000) |
|
(160,000) |
|
Other |
559 |
|
(1,030) |
|
Net cash provided by (used in) financing activities |
15,877 |
|
(182,255) |
|
Effect of exchange rate changes on cash and cash equivalents |
(8,881) |
|
(6,296) |
|
Net change in cash and cash equivalents |
(148,911) |
|
(253,202) |
|
Cash and cash equivalents, beginning of the year |
976,620 |
|
836,188 |
|
Cash and cash equivalents, end of the period |
$827,709 |
|
$582,986 |
|
| |||
|
(1) Synopsys' first quarter of fiscal year 2017 and 2016 ended on January 28, 2017 and January 30, 2016, respectively. For presentation purposes, we refer to the closest calendar month end. |
