SYNOPSYS, INC.
Unaudited Consolidated Balance Sheets (1)
(in thousands, except par value amounts)
October 31, October 31,
2009 2008
ASSETS:
Current assets:
Cash and cash equivalents $701,613 $577,632
Short-term investments 466,713 373,669
Total cash, cash equivalents
and short-term investments 1,168,326 951,301
Accounts receivable, net 127,010 147,365
Deferred income taxes 73,453 133,609
Income taxes receivable 51,191 49,859
Other current assets 43,820 40,156
Total current assets 1,463,800 1,322,290
Property and equipment, net 146,910 145,087
Goodwill 932,691 899,640
Intangible assets, net 96,810 114,760
Long-term deferred income taxes 205,396 177,386
Other long-term assets 93,247 83,315
Total assets $2,938,854 $2,742,478
LIABILITIES AND STOCKHOLDERS' EQUITY:
Current liabilities:
Accounts payable and accrued
liabilities $255,095 $289,769
Accrued income taxes 5,508 14,496
Deferred revenue 553,990 604,718
Total current liabilities 814,593 908,983
Long-term accrued income taxes 157,354 152,745
Other long-term liabilities 88,002 76,970
Long-term deferred revenue 34,739 75,409
Total liabilities 1,094,688 1,214,107
Stockholders' equity:
Preferred stock, $0.01 par value: 2,000
shares authorized; none outstanding - -
Common stock, $0.01 par value: 400,000
shares authorized; 146,945 and 141,786
shares outstanding, respectively 1,469 1,418
Capital in excess of par value 1,500,166 1,471,031
Retained earnings 574,980 434,057
Treasury stock, at cost: 10,326 and
15,485 shares, respectively (228,618) (342,856)
Accumulated other comprehensive loss (3,831) (35,279)
Total stockholders' equity 1,844,166 1,528,371
Total liabilities and
stockholders' equity $2,938,854 $2,742,478
(1) Synopsys' fourth quarter ended on the Saturday nearest October 31.
For presentation purposes, the Unaudited Consolidated Balance Sheets
refer to a calendar month end.
SYNOPSYS, INC.
Unaudited Consolidated Statements of Cash Flows (1)
(in thousands)
Twelve Months Ended October 31,
2009 2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $167,681 $189,978
Adjustments to reconcile net income to net
cash provided by operating activities:
Amortization and depreciation 101,453 97,143
Stock compensation 56,934 65,474
Allowance for doubtful accounts 2,461 135
Write-down of long-term investments 7,158 1,115
(Gain) loss on sale of investments (716) (1,404)
Deferred income taxes 25,942 (12,249)
In-process research and development 2,200 4,800
Net changes in operating assets and
liabilities, net of acquired assets
and liabilities:
Accounts receivable 22,830 (8,571)
Prepaid and other current assets 11,416 (22,338)
Other long-term assets (12,248) 13,275
Accounts payable and other
liabilities (30,657) 3,834
Accrued income taxes (21,140) (6,960)
Deferred revenue (96,606) 6,856
Net cash provided by operating
activities 236,708 331,088
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales and maturities of
short-term investments 290,709 597,902
Purchases of short-term investments (386,431) (564,978)
Proceeds from sales of long-term
investments - 77
Purchases of long-term investments (771) (7,694)
Purchases of property and equipment (36,748) (38,869)
Cash paid for acquisitions, net of cash
acquired (53,358) (184,650)
Capitalization of software development
costs (2,852) (2,874)
Net cash (used in) investing
activities (189,451) (201,086)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on capital leases (2,212) (2,970)
Proceeds from credit facilities 1,279 -
Payment on credit facility (1,533) -
Issuances of common stock 71,918 79,181
Purchases of treasury stock - (220,053)
Net cash provided by (used in)
financing activities 69,452 (143,842)
Effect of exchange rate changes on cash
and cash equivalents 7,272 12,145
Net change in cash and cash equivalents 123,981 (1,695)
Cash and cash equivalents, beginning of
period 577,632 579,327
Cash and cash equivalents, end of
period $701,613 $577,632
(1) Synopsys' fourth quarter ended on the Saturday nearest October 31.
For presentation purposes, the Unaudited Consolidated Statements of
Cash Flows refer to a calendar month end.
