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(1) Synopsys' fiscal 2012 and fiscal 2011 ended on November 3, 2012 and October 29, 2011, respectively. For presentation purposes, we refer to periods ended October 31. Synopsys' first quarter of fiscal 2012 included an extra week; its fiscal 2012 and fiscal 2011 were 53-week and 52-week years, respectively. |
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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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Years Ended October 31, | ||
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2012 |
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2011 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income |
$ 182,402 |
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$ 221,364 |
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Adjustments to reconcile net income to net cash provided by operating |
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activities: |
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Amortization and depreciation |
156,840 |
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128,550 |
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Stock compensation |
71,414 |
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56,414 |
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Allowance for doubtful accounts |
3,754 |
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1,058 |
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Write-down of long-term investments |
452 |
|
999 |
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Gain on sale of investments |
(650) |
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(936) |
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Deferred income taxes |
12,850 |
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22,278 |
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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 |
(53,395) |
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(18,974) |
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Prepaid and other current assets |
15,199 |
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(13,445) |
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Other long-term assets |
(10,231) |
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(4,248) |
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Accounts payable and other liabilities |
42,960 |
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(7,408) |
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Income taxes |
(43,113) |
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(58,377) |
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Deferred revenue |
107,586 |
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113,041 |
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Net cash provided by operating activities |
486,068 |
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440,316 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales and maturities of short-term investments |
166,132 |
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136,983 |
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Purchases of short-term investments |
(18,179) |
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(127,385) |
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Proceeds from sales of long-term investments |
506 |
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2,828 |
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Purchases of property and equipment |
(54,191) |
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(57,345) |
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Cash paid for acquisitions, net of cash acquired |
(970,089) |
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(41,015) |
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Capitalization of software development costs |
(3,302) |
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(2,885) |
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Net cash used in investing activities |
(879,123) |
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(88,819) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Principal payments on capital leases |
(6,252) |
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(4,628) |
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Proceeds from credit facility and term loan |
250,000 |
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- |
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Repayment of debt |
(136,156) |
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- |
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Issuances of common stock |
175,896 |
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162,180 |
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Purchase of equity forward contract |
- |
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(33,335) |
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Purchases of treasury stock |
(40,000) |
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(401,836) |
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Net cash provided by (used in) financing activities |
243,488 |
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(277,619) |
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Effect of exchange rate changes on cash and cash equivalents |
(5,128) |
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5,792 |
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Net change in cash and cash equivalents |
(154,695) |
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79,670 |
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Cash and cash equivalents, beginning of the year |
855,077 |
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775,407 |
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Cash and cash equivalents, end of the period |
$ 700,382 |
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$ 855,077 |
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