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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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2013 |
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2012 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income |
$ 138,613 |
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$ 77,665 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Amortization and depreciation |
94,154 |
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74,862 |
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Stock compensation |
33,229 |
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36,855 |
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Allowance for doubtful accounts |
901 |
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452 |
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Gain on sale of investments |
(101) |
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(349) |
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Deferred income taxes |
8,225 |
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10,033 |
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Net changes in operating assets and liabilities, net of acquired assets and liabilities: |
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Accounts receivable |
39,287 |
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(11,516) |
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Prepaid and other current assets |
(27,502) |
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(3,442) |
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Other long-term assets |
(16,524) |
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(8,128) |
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Accounts payable and other liabilities |
(97,569) |
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(48,393) |
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Income taxes |
(2,574) |
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(8,436) |
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Deferred revenue |
(127,847) |
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(32,147) |
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Net cash provided by operating activities |
42,292 |
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87,456 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales and maturities of short-term investments |
- |
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166,132 |
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Purchases of short-term investments |
- |
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(18,179) |
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Proceeds from sales of long-term investments |
222 |
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- |
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Purchases of property and equipment |
(29,426) |
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(19,585) |
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Proceeds from sale of property and equipment |
2,000 |
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- |
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Cash paid for acquisitions, net of cash acquired |
- |
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(564,528) |
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Capitalization of software development costs |
(1,787) |
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(1,539) |
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Net cash used in investing activities |
(28,991) |
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(437,699) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Principal payments on capital leases |
(784) |
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(1,888) |
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Proceeds from credit facility and term loan |
- |
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250,000 |
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Acquisition of non-controlling interest |
(44,004) |
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- |
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Repayment of debts |
(15,237) |
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(21,156) |
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Issuances of common stock |
75,193 |
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111,180 |
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Purchases of treasury stock |
(34,998) |
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(40,000) |
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Other |
(1,130) |
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- |
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Net cash (used in) provided by financing activities |
(20,960) |
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298,136 |
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Effect of exchange rate changes on cash and cash equivalents |
(11,705) |
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(6,376) |
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Net change in cash and cash equivalents |
(19,364) |
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(58,483) |
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Cash and cash equivalents, beginning of the year |
700,382 |
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855,077 |
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Cash and cash equivalents, end of the period |
$ 681,018 |
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$ 796,594 |
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(1) Synopsys' second quarter of fiscal 2013 ended on May 4, 2013. 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 Posts Financial Results for Second Quarter Fiscal Year 2013
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