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(1) |
Synopsys' second quarter of fiscal 2012 ended on May 5, 2012. For presentation purposes, we refer to a calendar month ending April 30. Synopsys' first quarter of fiscal 2012 includes an extra week. | |||||
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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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Six Months Ended April 30, | ||
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2012 |
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2011 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income |
$ 77,665 |
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$ 129,340 |
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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 |
74,862 |
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64,998 |
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Stock compensation |
36,853 |
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27,914 |
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Allowance for doubtful accounts |
452 |
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723 |
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Write-down of long-term investments |
- |
|
999 |
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Gain on sale of investments |
(349) |
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(50) |
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Deferred income taxes |
10,033 |
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(939) |
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Net changes in operating assets and liabilities, net of |
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acquired assets and liabilities: |
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Accounts receivable |
(11,516) |
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(28,904) |
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Prepaid and other current assets |
(3,442) |
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(8,848) |
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Other long-term assets |
(8,128) |
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(11,658) |
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Accounts payable and other liabilities |
(48,391) |
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(69,320) |
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Income taxes |
(8,436) |
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(40,890) |
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Deferred revenue |
(32,147) |
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(6,510) |
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Net cash provided by operating activities |
87,456 |
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56,855 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales and maturities of short-term investments |
166,132 |
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63,648 |
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Purchases of short-term investments |
(18,179) |
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(49,435) |
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Purchases of property and equipment |
(19,585) |
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(20,600) |
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Cash paid for acquisitions, net of cash acquired |
(564,528) |
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(3,520) |
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Capitalization of software development costs |
(1,539) |
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(1,512) |
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Net cash used in investing activities |
(437,699) |
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(11,419) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Principal payments on capital leases |
(1,888) |
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(1,310) |
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Proceeds from credit facility and term loan |
250,000 |
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- |
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Repayment of acquired debt |
(21,156) |
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- |
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Issuances of common stock |
111,180 |
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108,843 |
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Purchases of treasury stock |
(40,000) |
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(234,985) |
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Net cash provided by (used in) financing activities |
298,136 |
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(127,452) |
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Effect of exchange rate changes on cash and cash equivalents |
(6,376) |
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641 |
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Net change in cash and cash equivalents |
(58,483) |
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(81,375) |
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Cash and cash equivalents, beginning of the year |
855,077 |
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775,407 |
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Cash and cash equivalents, end of the period |
$796,594 |
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$ 694,032 |
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