Synopsys Posts Financial Results for Third Quarter Fiscal Year 2015

 

SYNOPSYS, INC.

Unaudited Consolidated Statements of Cash Flows (1)

(in thousands)






 Nine Months Ended July 31, 


2015


2014

CASH FLOWS FROM OPERATING ACTIVITIES:




Net income

$176,172


$ 196,669

Adjustments to reconcile net income to net cash provided by operating




    activities:




Amortization and depreciation

154,535


140,750

Stock compensation

63,463


58,341

Allowance for doubtful accounts 

1,100


(750)

(Gain) loss on sale of investments

(22)


(6,538)

Deferred income taxes

24,134


7,459

Net changes in operating assets and liabilities, net of 




acquired assets and liabilities:




Accounts receivable

16,976


24,834

Prepaid and other current assets

(35,836)


982

Other long-term assets

(16,141)


(18,847)

Accounts payable and accrued liabilities

(25,512)


(28,270)

Income taxes

(20,633)


(18,950)

Deferred revenue

4,507


22,361

Net cash provided by operating activities

342,743


378,041





CASH FLOWS FROM INVESTING ACTIVITIES:




Proceeds from sales and maturities of short-term investments

48,155


-

Purchases of short-term investments

(185,402)


-

Proceeds from sales of long-term investments

-


7,313

Purchases of property and equipment

(67,708)


(58,085)

Cash paid for acquisitions and intangible assets, net of cash acquired

(126,883)


(373,513)

Capitalization of software development costs

(2,798)


(2,812)

Other

900


(3,000)

Net cash used in investing activities

(333,736)


(430,097)





CASH FLOWS FROM FINANCING ACTIVITIES:




Proceeds from credit facility

410,000


200,000

Repayment of debt

(272,924)


(223,239)

Issuances of common stock

56,414


45,336

Purchases of treasury stock

(180,000)


(79,747)

Other

(116)


(5,008)

Net cash provided by (used in) financing activities

13,374


(62,658)

Effect of exchange rate changes on cash and cash equivalents

(21,720)


(4,681)

Net change in cash and cash equivalents

661


(119,395)

Cash and cash equivalents, beginning of the year

985,762


1,022,441

Cash and cash equivalents, end of the period

$986,423


$ 903,046


(1) Synopsys' third quarter for fiscal year 2015 and 2014 ended on August 1, 2015 and August 2, 2014, respectively. For presentation purposes, we refer to closest calendar month end.


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