(1) Synopsys' fiscal year 2020 and 2019 ended on October 31, 2020 and November 2, 2019, respectively. For presentation purposes, we refer to the closest calendar month end. |
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SYNOPSYS, INC. | |||
Unaudited Consolidated Statements of Cash Flows (1) | |||
(in thousands) | |||
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| Twelve Months Ended | ||
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| October 31, | ||
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| 2020 |
| 2019 |
CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income attributed to Synopsys | $ 664,347 |
| $ 532,367 |
Adjustments to reconcile net income to net cash provided by |
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operating activities: |
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Amortization and depreciation | 209,986 |
| 201,676 |
Reduction of operating lease right-of-use assets | 82,895 |
| - |
Amortization of capitalized costs to obtain revenue contracts | 61,185 |
| 62,750 |
Stock-based compensation | 248,584 |
| 155,001 |
Allowance for doubtful accounts | 20,875 |
| 11,669 |
(Gain) loss on sale of property and investments | (1,994) |
| (4,052) |
Deferred income taxes | (111,526) |
| (82,620) |
Other non-cash | 5,419 |
| (993) |
Net changes in operating assets and liabilities, net of |
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acquired assets and liabilities: |
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Accounts receivable | (236,806) |
| (8,575) |
Inventories | (55,024) |
| (17,396) |
Prepaid and other current assets | (11,298) |
| (49,779) |
Other long-term assets | (83,367) |
| (125,749) |
Accounts payable and accrued liabilities | 113,773 |
| (19,280) |
Operating lease liabilities | (78,578) |
| - |
Income taxes | 14,120 |
| 19,777 |
Deferred revenue | 148,722 |
| 125,717 |
Net cash provided by operating activities | 991,313 |
| 800,513 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales of long-term investments | 2,151 |
| 6,361 |
Purchases of long-term investments | (2,762) |
| (3,245) |
Purchases of property and equipment | (154,717) |
| (198,129) |
Cash paid for acquisitions and intangible assets, net of cash acquired | (201,045) |
| (36,605) |
Capitalization of software development costs | (4,045) |
| (4,259) |
Net cash used in investing activities | (360,418) |
| (235,877) |
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| CASH FLOWS FROM FINANCING ACTIVITIES: |
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| Proceeds from credit facilities | 276,489 |
| 192,897 |
| Repayment of debt | (288,879) |
| (524,063) |
| Issuances of common stock | 197,403 |
| 156,364 |
| Payments for taxes related to net share settlement of equity awards | (82,225) |
| (57,143) |
| Purchases of treasury stock | (242,078) |
| (329,185) |
| Other | (1,316) |
| (762) |
| Net cash used in financing activities | (140,606) |
| (561,892) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 17,154 |
| 2,782 |
| Net change in cash, cash equivalents and restricted cash | 507,443 |
| 5,526 |
| Cash, cash equivalents and restricted cash, beginning of year | 730,527 |
| 725,001 |
| Cash, cash equivalents and restricted cash, end of period | $ 1,237,970 |
| $ 730,527 |
