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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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Nine Months Ended July 31, | ||
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2014 |
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2013 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income |
$ 196,669 |
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$ 190,910 |
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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 |
140,750 |
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141,756 |
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Stock compensation |
58,341 |
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49,719 |
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Allowance for doubtful accounts |
(750) |
|
901 |
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Gain on sale of investments |
(6,538) |
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(101) |
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Deferred income taxes |
7,459 |
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7,272 |
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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 |
24,834 |
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8,207 |
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Prepaid and other current assets |
982 |
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(14,617) |
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Other long-term assets |
(18,847) |
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(20,292) |
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Accounts payable and other liabilities |
(28,270) |
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(48,188) |
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Income taxes |
(18,950) |
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(475) |
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Deferred revenue |
22,361 |
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(9,722) |
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Net cash provided by operating activities |
378,041 |
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305,370 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales of long-term investments |
7,313 |
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222 |
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Purchases of property and equipment |
(58,085) |
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(47,624) |
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Proceeds from sales of property and equipment |
- |
|
2,000 |
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Cash paid for acquisitions, net of cash acquired |
(373,513) |
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- |
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Capitalization of software development costs |
(2,812) |
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(2,681) |
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Other |
(3,000) |
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- |
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Net cash used in investing activities |
(430,097) |
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(48,083) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Proceeds from credit facility |
200,000 |
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- |
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Repayment of debt |
(223,239) |
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(22,975) |
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Acquisition of non-controlling interest |
- |
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(44,004) |
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Issuances of common stock |
45,336 |
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90,529 |
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Purchases of treasury stock |
(79,747) |
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(69,999) |
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Other |
(5,008) |
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(5,781) |
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Net cash used in financing activities |
(62,658) |
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(52,230) |
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Effect of exchange rate changes on cash and cash equivalents |
(4,681) |
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(13,069) |
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Net change in cash and cash equivalents |
(119,395) |
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191,988 |
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Cash and cash equivalents, beginning of the year |
1,022,441 |
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700,382 |
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Cash and cash equivalents, end of the period |
$ 903,046 |
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$ 892,370 |
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(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. |
