(1) |
Synopsys' second quarter of fiscal 2012 ended on May 5, 2012. For presentation purposes, we refer to a calendar month ending April 30. Synopsys' first quarter of fiscal 2012 includes an extra week. |
SYNOPSYS, INC. | |||
Unaudited Consolidated Statements of Cash Flows (1) | |||
(in thousands) | |||
|
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|
|
|
Six Months Ended April 30, | ||
|
2012 |
|
2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
Net income |
$ 77,665 |
|
$ 129,340 |
Adjustments to reconcile net income to net cash provided by operating |
|
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activities: |
|
|
|
Amortization and depreciation |
74,862 |
|
64,998 |
Stock compensation |
36,853 |
|
27,914 |
Allowance for doubtful accounts |
452 |
|
723 |
Write-down of long-term investments |
- |
|
999 |
Gain on sale of investments |
(349) |
|
(50) |
Deferred income taxes |
10,033 |
|
(939) |
Net changes in operating assets and liabilities, net of |
|
|
|
acquired assets and liabilities: |
|
|
|
Accounts receivable |
(11,516) |
|
(28,904) |
Prepaid and other current assets |
(3,442) |
|
(8,848) |
Other long-term assets |
(8,128) |
|
(11,658) |
Accounts payable and other liabilities |
(48,391) |
|
(69,320) |
Income taxes |
(8,436) |
|
(40,890) |
Deferred revenue |
(32,147) |
|
(6,510) |
Net cash provided by operating activities |
87,456 |
|
56,855 |
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
Proceeds from sales and maturities of short-term investments |
166,132 |
|
63,648 |
Purchases of short-term investments |
(18,179) |
|
(49,435) |
Purchases of property and equipment |
(19,585) |
|
(20,600) |
Cash paid for acquisitions, net of cash acquired |
(564,528) |
|
(3,520) |
Capitalization of software development costs |
(1,539) |
|
(1,512) |
Net cash used in investing activities |
(437,699) |
|
(11,419) |
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
Principal payments on capital leases |
(1,888) |
|
(1,310) |
Proceeds from credit facility and term loan |
250,000 |
|
- |
Repayment of acquired debt |
(21,156) |
|
- |
Issuances of common stock |
111,180 |
|
108,843 |
Purchases of treasury stock |
(40,000) |
|
(234,985) |
Net cash provided by (used in) financing activities |
298,136 |
|
(127,452) |
Effect of exchange rate changes on cash and cash equivalents |
(6,376) |
|
641 |
Net change in cash and cash equivalents |
(58,483) |
|
(81,375) |
Cash and cash equivalents, beginning of the year |
855,077 |
|
775,407 |
Cash and cash equivalents, end of the period |
$796,594 |
|
$ 694,032 |
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