Synopsys Posts Financial Results for Third Quarter Fiscal Year 2014

 

SYNOPSYS, INC.

Unaudited Consolidated Statements of Cash Flows (1)

(in thousands)






 Nine Months Ended July 31, 


2014


2013

CASH FLOWS FROM OPERATING ACTIVITIES:




Net income

$  196,669


$ 190,910

Adjustments to reconcile net income to net cash provided by operating




    activities:




Amortization and depreciation

140,750


141,756

Stock compensation

58,341


49,719

Allowance for doubtful accounts 

(750)


901

Gain on sale of investments

(6,538)


(101)

Deferred income taxes

7,459


7,272

Net changes in operating assets and liabilities, net of 




acquired assets and liabilities:




Accounts receivable

24,834


8,207

Prepaid and other current assets

982


(14,617)

Other long-term assets

(18,847)


(20,292)

Accounts payable and other liabilities

(28,270)


(48,188)

Income taxes

(18,950)


(475)

Deferred revenue

22,361


(9,722)

Net cash provided by operating activities

378,041


305,370





CASH FLOWS FROM INVESTING ACTIVITIES:




Proceeds from sales of long-term investments

7,313


222

Purchases of property and equipment

(58,085)


(47,624)

Proceeds from sales of property and equipment

-


2,000

Cash paid for acquisitions, net of cash acquired

(373,513)


-

Capitalization of software development costs

(2,812)


(2,681)

Other

(3,000)


-

Net cash used in investing activities

(430,097)


(48,083)





CASH FLOWS FROM FINANCING ACTIVITIES:




Proceeds from credit facility

200,000


-

Repayment of debt

(223,239)


(22,975)

Acquisition of non-controlling interest

-


(44,004)

Issuances of common stock

45,336


90,529

Purchases of treasury stock

(79,747)


(69,999)

Other

(5,008)


(5,781)

Net cash used in financing activities

(62,658)


(52,230)

Effect of exchange rate changes on cash and cash equivalents

(4,681)


(13,069)

Net change in cash and cash equivalents

(119,395)


191,988

Cash and cash equivalents, beginning of the year

1,022,441


700,382

Cash and cash equivalents, end of the period

$  903,046


$ 892,370









(1)  Synopsys' third quarter of fiscal 2014 and 2013 ended on August 2, 2014 and August 3, 2013, respectively. For presentation purposes, we refer to periods ended July 31.  


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