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(1) Synopsys' first quarter of fiscal 2013 ended on February 2, 2013. Its first quarter of fiscal 2012 included an extra week, and ended on February 4, 2012. For presentation purposes, we refer to periods ended January 31. |
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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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Three Months Ended January 31, | ||
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2013 |
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2012 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net income |
$ 69,922 |
|
$ 56,694 |
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Adjustments to reconcile net income to net cash provided by operating activities: |
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Amortization and depreciation |
47,064 |
|
31,965 |
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Stock compensation |
17,700 |
|
16,250 |
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Allowance for doubtful accounts |
2,083 |
|
497 |
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Deferred income taxes |
(4,900) |
|
14,533 |
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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 |
20,341 |
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(11,102) |
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Prepaid and other current assets |
(23,329) |
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(8,972) |
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Other long-term assets |
(10,484) |
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(3,457) |
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Accounts payable and other liabilities |
(152,207) |
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(93,558) |
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Income taxes |
(1,597) |
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(5,161) |
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Deferred revenue |
(56,031) |
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(37,007) |
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Net cash used in operating activities |
(91,438) |
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(39,318) |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Proceeds from sales and maturities of short-term investments |
- |
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34,039 |
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Purchases of short-term investments |
- |
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(18,179) |
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Purchases of property and equipment |
(13,980) |
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(11,016) |
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Cash paid for acquisitions, net of cash acquired |
- |
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(5,623) |
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Capitalization of software development costs |
(825) |
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(735) |
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Net cash used in investing activities |
(14,805) |
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(1,514) |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Principal payments on capital leases |
(409) |
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(1,081) |
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Acquisition of non-controlling interest |
(44,004) |
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- |
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Repayment of acquired debt |
(7,619) |
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- |
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Issuances of common stock |
15,615 |
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41,106 |
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Purchase of equity forward contract |
- |
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(20,000) |
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Purchases of treasury stock |
- |
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(20,000) |
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Net cash (used in) provided by financing activities |
(36,417) |
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25 |
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Effect of exchange rate changes on cash and cash equivalents |
(7,357) |
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(2,931) |
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Net change in cash and cash equivalents |
(150,017) |
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(43,738) |
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Cash and cash equivalents, beginning of the year |
700,382 |
|
855,077 |
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Cash and cash equivalents, end of the period |
$550,365 |
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$811,339 |
