SYNOPSYS, INC.
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| Nine Months Ended | ||
| July 31, | ||
| 2022 |
| 2021 |
CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income attributed to Synopsys | $ 831,094 |
| $ 556,069 |
Adjustments to reconcile net income to net cash provided by |
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operating activities: |
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Amortization and depreciation | 169,708 |
| 151,274 |
Reduction of operating lease right-of-use assets | 65,980 |
| 64,920 |
Amortization of capitalized costs to obtain revenue contracts | 54,438 |
| 46,973 |
Stock-based compensation | 333,437 |
| 248,530 |
Allowance for credit losses | (4,516) |
| 13,813 |
Deferred income taxes | 5,843 |
| (33,116) |
Other non-cash | 6,141 |
| 2,936 |
Net changes in operating assets and liabilities, net of |
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acquired assets and liabilities: |
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Accounts receivable | (121,786) |
| 188,996 |
Inventories | 118 |
| (51,448) |
Prepaid and other current assets | (56,075) |
| (62,201) |
Other long-term assets | (20,058) |
| (117,922) |
Accounts payable and accrued liabilities | (46,356) |
| 51,991 |
Operating lease liabilities | (66,187) |
| (61,666) |
Income taxes | (60,739) |
| (29,414) |
Deferred revenue | 254,353 |
| 152,328 |
Net cash provided by operating activities | 1,345,395 |
| 1,122,063 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales and maturities of short-term investments | 70,847 |
| 1,128 |
Purchases of short-term investments | (73,330) |
| (146,082) |
Proceeds from sales of long-term investments | 582 |
| - |
Purchases of long-term investments | (7,000) |
| (7,591) |
Purchases of property and equipment | (102,934) |
| (66,957) |
Cash paid for acquisitions, net of cash acquired | (416,323) |
| (164,053) |
Capitalization of software development costs | (1,970) |
| (1,517) |
Other | (1,200) |
| (800) |
Net cash used in investing activities | (531,328) |
| (385,872) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Repayment of debt | (76,838) |
| (21,637) |
Issuances of common stock | 161,416 |
| 113,976 |
Payments for taxes related to net share settlement of equity awards | (149,130) |
| (104,291) |
Purchase of equity forward contract | (40,000) |
| (35,000) |
Purchases of treasury stock | (717,266) |
| (538,082) |
Other | (3,413) |
| (4,375) |
Net cash used in financing activities | (825,231) |
| (589,409) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (38,155) |
| 2,985 |
Net change in cash, cash equivalents and restricted cash | (49,319) |
| 149,767 |
Cash, cash equivalents and restricted cash, beginning of year | 1,435,183 |
| 1,237,970 |
Cash, cash equivalents and restricted cash, end of period | $ 1,385,864 |
| $ 1,387,737 |
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(1) Synopsys' third quarter of fiscal year 2022 and 2021 ended on July 30, 2022 and July 31, 2021, respectively. For
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