| ANSYS, INC. AND SUBSIDIARIES | |||||||||||
| Condensed Consolidated Balance Sheets | |||||||||||
| (Unaudited) | |||||||||||
| ASC 606 | ASC 605 | ASC 605 | |||||||||
| (in thousands) |
September 30,
2018 |
September 30,
2018 |
December 31,
2017 | ||||||||
| ASSETS: | |||||||||||
| Cash & short-term investments | $ | 729,391 | $ | 729,391 | $ | 881,787 | |||||
| Accounts receivable, net | 235,547 | 102,626 | 124,659 | ||||||||
| Goodwill | 1,575,567 | 1,575,567 | 1,378,553 | ||||||||
| Other intangibles, net | 219,564 | 219,564 | 157,625 | ||||||||
| Other assets | 296,042 | 413,349 | 398,999 | ||||||||
| Total assets | $ | 3,056,111 | $ | 3,040,497 | $ | 2,941,623 | |||||
| LIABILITIES & STOCKHOLDERS' EQUITY: | |||||||||||
| Current deferred revenue | $ | 272,872 | $ | 434,129 | $ | 440,491 | |||||
| Other liabilities | 234,693 | 239,719 | 255,301 | ||||||||
| Stockholders' equity | 2,548,546 | 2,366,649 | 2,245,831 | ||||||||
| Total liabilities & stockholders' equity | $ | 3,056,111 | $ | 3,040,497 | $ | 2,941,623 | |||||
| ANSYS, INC. AND SUBSIDIARIES | |||||||||||||||||||||||
| Condensed Consolidated Statements of Income | |||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| ASC 606 | ASC 605 | ASC 605 | ASC 606 | ASC 605 | ASC 605 | ||||||||||||||||||
| September 30, | September 30, | September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||
| (in thousands, except per share data) | 2018 | 2018 | 2017 | 2018 | 2018 | 2017 | |||||||||||||||||
| Revenue: | |||||||||||||||||||||||
| Software licenses | $ | 109,103 | $ | 166,606 | $ | 156,580 | $ | 350,296 | $ | 482,656 | $ | 448,368 | |||||||||||
| Maintenance and service | 180,315 | 135,350 | 119,005 | 527,908 | 397,895 | 344,546 | |||||||||||||||||
| Total revenue | 289,418 | 301,956 | 275,585 | 878,204 | 880,551 | 792,914 | |||||||||||||||||
| Cost of sales: | |||||||||||||||||||||||
| Software licenses | 4,291 | 8,488 | 7,395 | 12,301 | 25,078 | 24,197 | |||||||||||||||||
| Amortization | 5,530 | 5,530 | 9,004 | 23,403 | 23,403 | 26,892 | |||||||||||||||||
| Maintenance and service | 26,487 | 22,290 | 19,584 | 80,092 | 67,315 | 58,263 | |||||||||||||||||
| Total cost of sales | 36,308 | 36,308 | 35,983 | 115,796 | 115,796 | 109,352 | |||||||||||||||||
| Gross profit | 253,110 | 265,648 | 239,602 | 762,408 | 764,755 | 683,562 | |||||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
| Selling, general and administrative | 97,576 | 97,576 | 80,015 | 280,443 | 280,443 | 230,483 | |||||||||||||||||
| Research and development | 59,019 | 59,019 | 50,144 | 174,906 | 174,906 | 153,524 | |||||||||||||||||
| Amortization | 3,491 | 3,491 | 3,260 | 10,421 | 10,421 | 9,506 | |||||||||||||||||
| Total operating expenses | 160,086 | 160,086 | 133,419 | 465,770 | 465,770 | 393,513 | |||||||||||||||||
| Operating income | 93,024 | 105,562 | 106,183 | 296,638 | 298,985 | 290,049 | |||||||||||||||||
| Interest income | 3,213 | 3,213 | 1,910 | 7,674 | 7,674 | 4,827 | |||||||||||||||||
| Other expense, net | (974 | ) | (974 | ) | (168 | ) | (2,289 | ) | (2,289 | ) | (1,512 | ) | |||||||||||
| Income before income tax provision | 95,263 | 107,801 | 107,925 | 302,023 | 304,370 | 293,364 | |||||||||||||||||
| Income tax provision | 5,927 | 7,685 | 34,295 | 35,811 | 36,089 | 86,698 | |||||||||||||||||
| Net income | $ | 89,336 | $ | 100,116 | $ | 73,630 | $ | 266,212 | $ | 268,281 | $ | 206,666 | |||||||||||
| Earnings per share – basic: | |||||||||||||||||||||||
| Earnings per share | $ | 1.06 | $ | 1.19 | $ | 0.87 | $ | 3.17 | $ | 3.19 | $ | 2.43 | |||||||||||
| Weighted average shares | 84,158 | 84,158 | 84,774 | 84,065 | 84,065 | 85,132 | |||||||||||||||||
| Earnings per share – diluted: | |||||||||||||||||||||||
| Earnings per share | $ | 1.04 | $ | 1.16 | $ | 0.85 | $ | 3.09 | $ | 3.12 | $ | 2.38 | |||||||||||
| Weighted average shares | 86,043 | 86,043 | 86,588 | 86,060 | 86,060 | 86,902 | |||||||||||||||||
