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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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Three Months Ended January 31, |
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2015 |
2014 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income |
$ 65,189 |
$ 67,696 |
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Adjustments to reconcile net income to net cash used in operating |
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activities: |
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Amortization and depreciation |
50,529 |
43,714 |
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Stock compensation |
20,581 |
18,118 |
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Allowance for doubtful accounts |
300 |
(400) |
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Gain on sale of investments |
(12) |
(6,529) |
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Deferred income taxes |
(158) |
5,891 |
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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 |
40,857 |
7,910 |
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Prepaid and other current assets |
(42,860) |
(13,635) |
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Other long-term assets |
(7,597) |
(6,695) |
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Accounts payable and other liabilities |
(125,320) |
(134,902) |
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Income taxes |
(14,024) |
(10,068) |
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Deferred revenue |
(74,828) |
(44,992) |
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Net cash used in operating activities |
(87,343) |
(73,892) |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales and maturities of short-term investments |
8,012 |
- |
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Purchases of short-term investments |
(128,427) |
- |
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Proceeds from sales of long-term investments |
- |
6,791 |
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Purchases of property and equipment |
(19,607) |
(14,353) |
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Cash paid for acquisitions and intangible assets, net of cash acquired |
- |
(900) |
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Capitalization of software development costs |
(909) |
(902) |
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Net cash used in investing activities |
(140,931) |
(9,364) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Proceeds from credit facility |
250,000 |
- |
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Repayment of debt |
(22,723) |
(7,748) |
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Issuances of common stock |
10,542 |
21,581 |
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Purchase of equity forward contract |
(36,000) |
- |
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Purchases of treasury stock |
(144,000) |
(54,747) |
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Other |
(14) |
(111) |
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Net cash provided by (used in) financing activities |
57,805 |
(41,025) |
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Effect of exchange rate changes on cash and cash equivalents |
(18,469) |
(5,107) |
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Net change in cash and cash equivalents |
(188,938) |
(129,388) |
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Cash and cash equivalents, beginning of the year |
985,762 |
1,022,441 |
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Cash and cash equivalents, end of the period |
$796,824 |
$ 893,053 |
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(1) Synopsys' first quarter and fiscal year 2015 and 2014 ended on January 31, 2015 and February 1, 2014, respectively. For presentation purposes, we refer to periods ended January 31. |
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