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SYNOPSYS, INC. | |||
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Unaudited Consolidated Statements of Cash Flows (1) | |||
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(in thousands) | |||
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Twelve Months Ended October 31, | ||
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2017 |
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2016 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income |
$ 136,563 |
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$266,826 |
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Adjustments to reconcile net income to net cash provided by operating |
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activities: |
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Amortization and depreciation |
189,442 |
|
207,032 |
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Stock compensation |
108,294 |
|
97,583 |
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Allowance for doubtful accounts |
2,149 |
|
950 |
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(Gain) loss on sale of investments |
8 |
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(18) |
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Write-down of long-term investments |
1,300 |
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Deferred income taxes |
123,052 |
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(14,037) |
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Net changes in operating assets and liabilities, net of acquired assets and liabilities: |
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Accounts receivable |
2,296 |
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(43,269) |
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Prepaid and other current assets |
(28,955) |
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(37,641) |
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Other long-term assets |
(40,236) |
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(3,770) |
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Accounts payable and accrued liabilities |
137,631 |
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18,977 |
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Income taxes |
19,665 |
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7,098 |
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Deferred revenue |
(16,644) |
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86,904 |
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Net cash provided by operating activities |
634,565 |
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586,635 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales and maturities of short-term investments |
295,633 |
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156,350 |
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Purchases of short-term investments |
(155,098) |
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(168,712) |
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Proceeds from sales of long-term investments |
839 |
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1,785 |
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Purchases of long-term investments |
- |
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(1,002) |
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Purchases of property and equipment |
(70,328) |
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(66,909) |
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Cash paid for acquisitions and intangible assets, net of cash acquired |
(259,202) |
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(60,056) |
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Capitalization of software development costs |
(3,226) |
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(4,131) |
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Other |
2,100 |
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- |
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Net cash used in investing activities |
(189,282) |
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(142,675) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Proceeds from credit facilities |
320,000 |
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185,000 |
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Repayment of debt |
(380,625) |
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(185,000) |
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Issuances of common stock |
126,337 |
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125,283 |
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Payments for taxes related to net share settlement of equity awards |
(36,730) |
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(26,562) |
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Purchase of equity forward contract |
(20,000) |
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- |
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Purchases of treasury stock |
(380,000) |
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(400,000) |
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Other |
(2,102) |
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(5,658) |
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Net cash used in financing activities |
(373,120) |
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(306,937) |
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Effect of exchange rate changes on cash and cash equivalents |
(427) |
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3,409 |
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Net change in cash and cash equivalents |
71,736 |
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140,432 |
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Cash and cash equivalents, beginning of the year |
976,620 |
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836,188 |
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Cash and cash equivalents, end of the period |
$1,048,356 |
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$976,620 |
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(1) Synopsys' fiscal year 2017 and 2016 ended on October 28, 2017 and October 29, 2016, respectively. For presentation purposes, we refer to the closest calendar month end. |
