Synopsys Posts Financial Results for Third Quarter Fiscal Year 2013

 

 

SYNOPSYS, INC.

Unaudited Consolidated Statements of Cash Flows (1)

(in thousands)



 Nine Months Ended July 31, 


2013


2012

CASH FLOWS FROM OPERATING ACTIVITIES:




Net income

$190,910


$153,321

Adjustments to reconcile net income to net cash provided by operating




    activities:




              Amortization and depreciation

141,756


115,076

              Stock compensation

49,719


54,078

              Allowance for doubtful accounts 

901


973

              Write-down of long-term investments

-


452

              Gain on sale of investments

(101)


(650)

              Deferred income taxes

7,272


10,553

              Net changes in operating assets and liabilities, net of 




                 acquired assets and liabilities:




                      Accounts receivable

8,207


14,401

                      Prepaid and other current assets

(14,617)


6,116

                      Other long-term assets

(20,292)


(7,146)

                      Accounts payable and other liabilities

(48,188)


(15,490)

                      Income taxes

(475)


(32,370)

                      Deferred revenue

(9,722)


83,822

              Net cash provided by operating activities

305,370


383,136





CASH FLOWS FROM INVESTING ACTIVITIES:




              Proceeds from sales and maturities of short-term investments

-


166,132

              Purchases of short-term investments

-


(18,179)

              Proceeds from sales of long-term investments

222


506

              Proceeds from sale of property and equipment

2,000


-

              Purchases of property and equipment

(47,624)


(32,718)

              Cash paid for acquisitions, net of cash acquired

-


(584,418)

              Capitalization of software development costs

(2,681)


(2,308)

              Net cash used in investing activities

(48,083)


(470,985)





CASH FLOWS FROM FINANCING ACTIVITIES:




              Principal payments on capital leases

(3,751)


(5,177)

              Proceeds from credit facility and term loan

-


250,000

              Acquisition of non-controlling interest

(44,004)


-

              Repayment of debts

(22,975)


(128,656)

              Issuances of common stock

90,529


128,556

              Purchases of treasury stock

(69,999)


(40,000)

              Other

(2,030)


-

              Net cash (used in) provided by financing activities

(52,230)


204,723

Effect of exchange rate changes on cash and cash equivalents

(13,069)


(8,184)

Net change in cash and cash equivalents

191,988


108,690

Cash and cash equivalents, beginning of the year

700,382


855,077

Cash and cash equivalents, end of the period

$892,370


$963,767


(1) Synopsys' third quarter of fiscal 2013 ended on August 3, 2013.  For presentation purposes, we refer to a calendar month ending July 31.  Synopsys' first quarter of fiscal 2012 includes an extra week.


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