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10-Q Filing

CADENCE DESIGN SYSTEMS INC CIK: 813672 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000813672-20-000013
Period End Date 20200331
Filing Date 20200420
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance a10-qcdns03282020_htm.xml
Balance Sheet 56 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $533.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $705.21M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $946.28M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $538.90M USD Point-in-time
Receivables, net ReceivablesNetCurrent $304.55M USD Point-in-time
Receivables, net ReceivablesNetCurrent $284.09M USD Point-in-time
Inventories InventoryNet $55.80M USD Point-in-time
Inventories InventoryNet $60.58M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $108.55M USD Point-in-time
Prepaid expenses and other PrepaidExpenseAndOtherAssetsCurrent $103.78M USD Point-in-time
Total current assets AssetsCurrent $1.17B USD Point-in-time
Total current assets AssetsCurrent $1.40B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $275.86M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $281.21M USD Point-in-time
Goodwill Goodwill $661.86M USD Point-in-time
Goodwill Goodwill $778.99M USD Point-in-time
Acquired intangibles, net IntangibleAssetsNetExcludingGoodwill $258.62M USD Point-in-time
Acquired intangibles, net IntangibleAssetsNetExcludingGoodwill $172.38M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $699.19M USD Point-in-time
Deferred taxes DeferredIncomeTaxAssetsNet $732.37M USD Point-in-time
Other assets OtherAssets $345.43M USD Point-in-time
Other assets OtherAssets $350.46M USD Point-in-time
Total assets Assets $3.77B USD Point-in-time
Total assets Assets $3.36B USD Point-in-time
Revolving credit facility LinesOfCreditCurrent - USD Point-in-time
Revolving credit facility LinesOfCreditCurrent $350.00M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $316.91M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $236.81M USD Point-in-time
Current portion of deferred revenue DeferredRevenueCurrent $425.62M USD Point-in-time
Current portion of deferred revenue DeferredRevenueCurrent $355.48M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.01B USD Point-in-time
Total current liabilities LiabilitiesCurrent $672.39M USD Point-in-time
Long-term portion of deferred revenue DeferredRevenueNoncurrent $95.50M USD Point-in-time
Long-term portion of deferred revenue DeferredRevenueNoncurrent $73.40M USD Point-in-time
Long-term debt UnsecuredLongTermDebt $346.02M USD Point-in-time
Long-term debt UnsecuredLongTermDebt $346.20M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $162.52M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $155.84M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $581.94M USD Point-in-time
Total long-term liabilities LiabilitiesNoncurrent $597.55M USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock and capital in excess of par value CommonStocksIncludingAdditionalPaidInCapital $2.10B USD Point-in-time
Common stock and capital in excess of par value CommonStocksIncludingAdditionalPaidInCapital $2.05B USD Point-in-time
Treasury stock, at cost TreasuryStockValue $1.78B USD Point-in-time
Treasury stock, at cost TreasuryStockValue $1.67B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.76B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.88B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-36.93M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-46.58M USD Point-in-time
Total stockholders equity StockholdersEquity $1.37B USD Point-in-time
Total stockholders equity StockholdersEquity $2.16B USD Point-in-time
Total stockholders equity StockholdersEquity $2.10B USD Point-in-time
Total stockholders equity StockholdersEquity $1.29B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $3.77B USD Point-in-time
Total liabilities and stockholders equity LiabilitiesAndStockholdersEquity $3.36B USD Point-in-time
Income Statement 34 line items
Line Item Tag Value Unit Period
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $617.96M USD 1 Quarter
Revenues RevenueFromContractWithCustomerExcludingAssessedTax $576.74M USD 1 Quarter
Marketing and sales SellingAndMarketingExpense $125.74M USD 1 Quarter
Marketing and sales SellingAndMarketingExpense $116.83M USD 1 Quarter
Research and development ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost $228.21M USD 1 Quarter
Research and development ResearchAndDevelopmentExpenseSoftwareExcludingAcquiredInProcessCost $241.67M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $33.59M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $30.10M USD 1 Quarter
Amortization of acquired intangibles AmortizationOfIntangibleAssets $3.31M USD 1 Quarter
Amortization of acquired intangibles AmortizationOfIntangibleAssets $4.21M USD 1 Quarter
Restructuring and other credits RestructuringCharges $-1.07M USD 1 Quarter
Restructuring and other credits RestructuringCharges $-689.00K USD 1 Quarter
Total costs and expenses CostsAndExpenses $448.35M USD 1 Quarter
Total costs and expenses CostsAndExpenses $478.61M USD 1 Quarter
Income from operations OperatingIncomeLoss $128.40M USD 1 Quarter
Income from operations OperatingIncomeLoss $139.35M USD 1 Quarter
Interest expense InterestExpense $4.64M USD 1 Quarter
Interest expense InterestExpense $5.39M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-4.53M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $5.24M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $130.18M USD 1 Quarter
Income before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $128.25M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $7.69M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $6.19M USD 1 Quarter
Net income NetIncomeLoss $123.99M USD 1 Quarter
Net income NetIncomeLoss $120.56M USD 1 Quarter
Net income per share basic EarningsPerShareBasic $0.44 USD 1 Quarter
Net income per share basic EarningsPerShareBasic $0.45 USD 1 Quarter
Net income per share diluted EarningsPerShareDiluted $0.43 USD 1 Quarter
Net income per share diluted EarningsPerShareDiluted $0.44 USD 1 Quarter
Weighted average common shares outstanding basic WeightedAverageNumberOfSharesOutstandingBasic 273.48M shares 1 Quarter
Weighted average common shares outstanding basic WeightedAverageNumberOfSharesOutstandingBasic 273.07M shares 1 Quarter
Weighted average common shares outstanding diluted WeightedAverageNumberOfDilutedSharesOutstanding 279.26M shares 1 Quarter
Weighted average common shares outstanding diluted WeightedAverageNumberOfDilutedSharesOutstanding 280.62M shares 1 Quarter
Cash Flow Statement 72 line items
Line Item Tag Value Unit Period
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $533.30M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $705.21M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $946.28M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $538.90M USD Point-in-time
Net income NetIncomeLoss $123.99M USD 1 Quarter
Net income NetIncomeLoss $120.56M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $33.32M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $29.74M USD 1 Quarter
Amortization of debt discount and fees AmortizationOfFinancingCostsAndDiscounts $247.00K USD 1 Quarter
Amortization of debt discount and fees AmortizationOfFinancingCostsAndDiscounts $254.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $42.25M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $46.48M USD 1 Quarter
(Gain) loss on investments, net GainLossOnInvestments $-3.21M USD 1 Quarter
(Gain) loss on investments, net GainLossOnInvestments $2.65M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $3.90M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-4.97M USD 1 Quarter
Recoveries on receivables ProvisionForDoubtfulAccounts $-77.00K USD 1 Quarter
Recoveries on receivables ProvisionForDoubtfulAccounts $-183.00K USD 1 Quarter
ROU asset amortization and change in operating lease liabilities ROUassetamortizationandchangeinoperatingleaseliabilities $1.34M USD 1 Quarter
ROU asset amortization and change in operating lease liabilities ROUassetamortizationandchangeinoperatingleaseliabilities $706.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-183.00K USD 1 Quarter
Other non-cash items OtherNoncashIncomeExpense $-122.00K USD 1 Quarter
Receivables IncreaseDecreaseInAccountsAndOtherReceivables $-26.48M USD 1 Quarter
Receivables IncreaseDecreaseInAccountsAndOtherReceivables $-35.68M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $5.26M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $10.62M USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-15.62M USD 1 Quarter
Prepaid expenses and other IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $4.96M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $8.34M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-4.56M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-84.84M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-41.26M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-4.45M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $86.91M USD 1 Quarter
Other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-577.00K USD 1 Quarter
Other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-4.24M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $217.72M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $185.41M USD 1 Quarter
Purchases of non-marketable investments PaymentsToAcquireInvestments - USD 1 Quarter
Purchases of non-marketable investments PaymentsToAcquireInvestments $33.66M USD 1 Quarter
Proceeds from the sale of non-marketable investments ProceedsFromSaleAndMaturityOfOtherInvestments $2.95M USD 1 Quarter
Proceeds from the sale of non-marketable investments ProceedsFromSaleAndMaturityOfOtherInvestments - USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $22.18M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $15.28M USD 1 Quarter
Cash paid in business combinations, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $193.82M USD 1 Quarter
Cash paid in business combinations, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-216.00M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-45.99M USD 1 Quarter
Proceeds from revolving credit facility ProceedsFromLinesOfCredit $50.00M USD 1 Quarter
Proceeds from revolving credit facility ProceedsFromLinesOfCredit $350.00M USD 1 Quarter
Payment on revolving credit facility RepaymentsOfLinesOfCredit - USD 1 Quarter
Payment on revolving credit facility RepaymentsOfLinesOfCredit $100.00M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $29.86M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $33.31M USD 1 Quarter
Stock received for payment of employee taxes on vesting of restricted stock StockReceivedforPaymentofEmployeeTaxesonVestingofRestrictedStock $37.53M USD 1 Quarter
Stock received for payment of employee taxes on vesting of restricted stock StockReceivedforPaymentofEmployeeTaxesonVestingofRestrictedStock $32.82M USD 1 Quarter
Payments for repurchases of common stock PaymentsForRepurchaseOfCommonStock $100.02M USD 1 Quarter
Payments for repurchases of common stock PaymentsForRepurchaseOfCommonStock $81.11M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $245.76M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-134.08M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $251.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-6.41M USD 1 Quarter
Increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $241.07M USD 1 Quarter
Increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $5.60M USD 1 Quarter
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $533.30M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $705.21M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $946.28M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $538.90M USD Point-in-time
Cash paid for interest InterestPaidNet $1.32M USD 1 Quarter
Cash paid for interest InterestPaidNet $134.00K USD 1 Quarter
Cash paid for taxes, net IncomeTaxesPaidNet $6.89M USD 1 Quarter
Cash paid for taxes, net IncomeTaxesPaidNet $9.27M USD 1 Quarter
Stockholders Equity 22 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $1.37B USD Point-in-time
Beginning balance StockholdersEquity $2.16B USD Point-in-time
Beginning balance StockholdersEquity $2.10B USD Point-in-time
Beginning balance StockholdersEquity $1.29B USD Point-in-time
Net Income NetIncomeLoss $123.99M USD 1 Quarter
Net Income NetIncomeLoss $120.56M USD 1 Quarter
Other comprehensive loss, net of taxes OtherComprehensiveIncomeLossNetOfTax $-9.65M USD 1 Quarter
Other comprehensive loss, net of taxes OtherComprehensiveIncomeLossNetOfTax $-1.29M USD 1 Quarter
Purchase of treasury stock, shares TreasuryStockSharesAcquired 1.49M shares 1 Quarter
Purchase of treasury stock, shares TreasuryStockSharesAcquired 1.53M shares 1 Quarter
Purchase of treasury stock TreasuryStockValueAcquiredCostMethod $81.11M USD 1 Quarter
Purchase of treasury stock TreasuryStockValueAcquiredCostMethod $100.02M USD 1 Quarter
Issuance of common stock and reissuance of treasury stock under equity incentive plans, net of forfeitures StockIssuedDuringPeriodValueTreasuryStockReissued $29.86M USD 1 Quarter
Issuance of common stock and reissuance of treasury stock under equity incentive plans, net of forfeitures StockIssuedDuringPeriodValueTreasuryStockReissued $33.83M USD 1 Quarter
Stock received for payment of employee taxes on vesting of restricted stock, value AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $32.82M USD 1 Quarter
Stock received for payment of employee taxes on vesting of restricted stock, value AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $37.53M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $46.48M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $42.25M USD 1 Quarter
Ending balance StockholdersEquity $1.37B USD Point-in-time
Ending balance StockholdersEquity $2.16B USD Point-in-time
Ending balance StockholdersEquity $2.10B USD Point-in-time
Ending balance StockholdersEquity $1.29B USD Point-in-time
Comprehensive Income 10 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $123.99M USD 1 Quarter
Net income NetIncomeLoss $120.56M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-9.62M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $1.22M USD 1 Quarter
Changes in defined benefit plan liabilities OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $2.52M USD 1 Quarter
Changes in defined benefit plan liabilities OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $31.00K USD 1 Quarter
Total other comprehensive loss, net of tax effects OtherComprehensiveIncomeLossNetOfTax $-9.65M USD 1 Quarter
Total other comprehensive loss, net of tax effects OtherComprehensiveIncomeLossNetOfTax $-1.29M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $119.26M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $114.34M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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