2017 Q4 Form 10-K Financial Statement

#000088324117000014 Filed on December 14, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2016 Q4 2015 Q4
Revenue $696.6M $633.7M $587.2M
YoY Change 9.92% 7.93% 8.93%
Cost Of Revenue $166.9M $142.2M $139.8M
YoY Change 17.37% 1.72% 15.16%
Gross Profit $529.8M $491.5M $447.3M
YoY Change 7.79% 9.88% 7.12%
Gross Profit Margin 76.06% 77.56% 76.18%
Selling, General & Admin $180.2M $173.7M $174.5M
YoY Change 3.74% -0.46% 6.92%
% of Gross Profit 34.01% 35.34% 39.01%
Research & Development $244.5M $222.0M $208.3M
YoY Change 10.14% 6.58% 9.4%
% of Gross Profit 46.15% 45.17% 46.57%
Depreciation & Amortization $45.30M $49.20M $57.30M
YoY Change -7.93% -14.14% 10.19%
% of Gross Profit 8.55% 10.01% 12.81%
Operating Expenses $432.5M $402.2M $389.8M
YoY Change 7.53% 3.18% 8.25%
Operating Profit $97.30M $89.31M $57.52M
YoY Change 8.95% 55.28% 0.04%
Interest Expense $800.0K $600.0K $800.0K
YoY Change 33.33% -25.0% 100.0%
% of Operating Profit 0.82% 0.67% 1.39%
Other Income/Expense, Net $100.0K $1.100M $900.0K
YoY Change -90.91% 22.22% 0.0%
Pretax Income $99.90M $82.75M $55.92M
YoY Change 20.72% 47.99% -10.0%
Income Tax $220.0M $10.10M $6.200M
% Of Pretax Income 220.22% 12.21% 11.09%
Net Earnings -$120.1M $72.70M $49.76M
YoY Change -265.21% 46.09% -20.32%
Net Earnings / Revenue -17.24% 11.47% 8.48%
Basic Earnings Per Share $0.48 $0.32
Diluted Earnings Per Share -$798.5K $0.47 $0.31
COMMON SHARES
Basic Shares Outstanding 148.7M shares 150.1M shares 151.5M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.048B $1.117B $964.9M
YoY Change -6.17% 15.79% -2.12%
Cash & Equivalents $1.048B $976.6M $836.2M
Short-Term Investments $0.00 $140.7M $128.7M
Other Short-Term Assets $134.8M $104.7M $71.50M
YoY Change 28.75% 46.43% -56.85%
Inventory $61.88M
Prepaid Expenses
Receivables $451.1M $438.9M $385.7M
Other Receivables $48.30M $56.10M $46.70M
Total Short-Term Assets $1.683B $1.717B $1.469B
YoY Change -2.0% 16.89% -2.39%
LONG-TERM ASSETS
Property, Plant & Equipment $266.0M $257.0M $263.1M
YoY Change 3.49% -2.3% 5.61%
Goodwill $2.707B $2.518B $2.471B
YoY Change 7.49% 1.9% 9.56%
Intangibles $253.8M $266.7M $363.7M
YoY Change -4.81% -26.67% -0.38%
Long-Term Investments
YoY Change
Other Assets $222.8M $185.6M $186.3M
YoY Change 20.09% -0.4% 6.39%
Total Long-Term Assets $3.714B $3.523B $3.577B
YoY Change 5.4% -1.5% 9.36%
TOTAL ASSETS
Total Short-Term Assets $1.683B $1.717B $1.469B
Total Long-Term Assets $3.714B $3.523B $3.577B
Total Assets $5.396B $5.240B $5.046B
YoY Change 2.98% 3.86% 5.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.95M $13.75M $9.919M
YoY Change 45.17% 38.57% -64.77%
Accrued Expenses $477.3M $367.7M $365.3M
YoY Change 29.81% 0.66% 2.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.900M $205.0M $205.0M
YoY Change -95.17% 0.0% 583.33%
Total Short-Term Liabilities $1.614B $1.715B $1.578B
YoY Change -5.88% 8.65% 13.82%
LONG-TERM LIABILITIES
Long-Term Debt $134.1M $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $252.0M $210.9M $202.0M
YoY Change 19.53% 4.37% 27.08%
Total Long-Term Liabilities $386.1M $210.9M $202.0M
YoY Change 83.11% 4.37% -0.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.614B $1.715B $1.578B
Total Long-Term Liabilities $386.1M $210.9M $202.0M
Total Liabilities $2.117B $2.045B $1.912B
YoY Change 3.49% 6.98% 11.19%
SHAREHOLDERS EQUITY
Retained Earnings $2.144B $1.948B $1.726B
YoY Change 10.08% 12.86% 11.22%
Common Stock $1.505M $1.515M $1.552M
YoY Change -0.66% -2.38% -0.51%
Preferred Stock
YoY Change
Treasury Stock (at cost) $426.2M $294.1M $98.38M
YoY Change 44.94% 198.91% 98.75%
Treasury Stock Shares 6.817M shares 5.811M shares 2.107M shares
Shareholders Equity $3.276B $3.195B $3.134B
YoY Change
Total Liabilities & Shareholders Equity $5.396B $5.240B $5.046B
YoY Change 2.98% 3.86% 5.66%

Cashflow Statement

Concept 2017 Q4 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income -$120.1M $72.70M $49.76M
YoY Change -265.21% 46.09% -20.32%
Depreciation, Depletion And Amortization $45.30M $49.20M $57.30M
YoY Change -7.93% -14.14% 10.19%
Cash From Operating Activities $182.8M $147.6M $152.5M
YoY Change 23.85% -3.21% -11.85%
INVESTING ACTIVITIES
Capital Expenditures -$91.80M -$19.80M -$233.4M
YoY Change 363.64% -91.52% 247.84%
Acquisitions
YoY Change
Other Investing Activities $147.5M $2.800M $7.500M
YoY Change 5167.86% -62.67%
Cash From Investing Activities $55.70M -$17.10M -$225.9M
YoY Change -425.73% -92.43% 236.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -347.2M -101.3M -75.50M
YoY Change 242.74% 34.17% 586.36%
NET CHANGE
Cash From Operating Activities 182.8M 147.6M 152.5M
Cash From Investing Activities 55.70M -17.10M -225.9M
Cash From Financing Activities -347.2M -101.3M -75.50M
Net Change In Cash -108.7M 29.20M -148.9M
YoY Change -472.26% -119.61% -257.07%
FREE CASH FLOW
Cash From Operating Activities $182.8M $147.6M $152.5M
Capital Expenditures -$91.80M -$19.80M -$233.4M
Free Cash Flow $274.6M $167.4M $385.9M
YoY Change 64.04% -56.62% 60.72%

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32300000 USD
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38800000 USD
CY2017 us-gaap Cost Of Property Repairs And Maintenance
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40600000 USD
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518920000 USD
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542962000 USD
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303633000 USD
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346825000 USD
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413203000 USD
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25420000 USD
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18793000 USD
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123483000 USD
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1385000 USD
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2670000 USD
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5565000 USD
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205000000 USD
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9924000 USD
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3701000 USD
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4400000 USD
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29606000 USD
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163185000 USD
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197542000 USD
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44462000 USD
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3609000 USD
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36883000 USD
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36883000 USD
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5161000 USD
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54604000 USD
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62299000 USD
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1300000 USD
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P12M
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20928000 USD
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1.43
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1.73
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0.88
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P2Y6M
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20071000 USD
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30950000 USD
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912355000 USD
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7102000 USD
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88907000 USD
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16648000 USD
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26708000 USD
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62940000 USD
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6363000 USD
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156000 USD
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3354000 USD
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54882000 USD
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1359000 USD
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109000 USD
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18000 USD
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165097000 USD
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165962000 USD
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39172000 USD
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178545000 USD
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7397000 USD
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10184000 USD
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0 USD
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0 USD
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0 USD
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435000 USD
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1879570000 USD
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2070696000 USD
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0 USD
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0 USD
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1300000 USD
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0 USD
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0 USD
CY2017 us-gaap Impairment Of Long Lived Assets Held For Use
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0 USD
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42571000 USD
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22134000 USD
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239039000 USD
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307414000 USD
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385800000 USD
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281610000 USD
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329548000 USD
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383098000 USD
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3100000 USD
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3200000 USD
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600000 USD
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800000 USD
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200000 USD
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55676000 USD
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62722000 USD
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246535000 USD
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2206000 USD
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25590000 USD
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47745000 USD
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CY2017 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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98564000 USD
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115343000 USD
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134084000 USD
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5406000 USD
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5709000 USD
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-26205000 USD
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-241000 USD
CY2016 us-gaap Income Tax Reconciliation Other Reconciling Items
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4811000 USD
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
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1832000 USD
CY2015 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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0 USD
CY2016 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
IncomeTaxReconciliationRepatriationOfForeignEarnings
0 USD
CY2017 us-gaap Income Tax Reconciliation Repatriation Of Foreign Earnings
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166152000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
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-7186000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
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-14492000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-20071000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Credits
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13301000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
36979000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
24365000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
12400000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
37100000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Settlements
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-6251000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Settlements
IncomeTaxReconciliationTaxSettlements
-16479000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Settlements
IncomeTaxReconciliationTaxSettlements
-7057000 USD
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59731000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
69447000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
103478000 USD
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3770000 USD
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CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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37641000 USD
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6253000 USD
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168000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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28955000 USD
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3108000 shares
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7095000 USD
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67600000 USD
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63900000 USD
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68100000 USD
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P10Y
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2021812000 USD
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248137000 USD
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1 Segment
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20760000 USD
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CY2017 us-gaap Payments For Repurchase Of Equity
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CY2015 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2016 us-gaap Payments To Acquire Other Investments
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1002000 USD
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3682000 USD
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4131000 USD
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3226000 USD
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238902000 USD
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1785000 USD
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257035000 USD
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2 Building
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950000 USD
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51408000 USD
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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67089000 USD
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26.06
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30.06
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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34.56
CY2016Q4 us-gaap Short Term Investments
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140695000 USD
CY2017Q4 us-gaap Short Term Investments
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0 USD
CY2015 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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1700000 shares
CY2016 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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1600000 shares
CY2017 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
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1600000 shares
CY2015 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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4864000 shares
CY2016 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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4803000 shares
CY2017 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
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4404000 shares
CY2015 us-gaap Stock Issued During Period Value Treasury Stock Reissued
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84526000 USD
CY2016 us-gaap Stock Issued During Period Value Treasury Stock Reissued
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98668000 USD
CY2017 us-gaap Stock Issued During Period Value Treasury Stock Reissued
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90530000 USD
CY2017Q4 us-gaap Stock Repurchase Program Authorized Amount1
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500000000.0 USD
CY2017Q2 us-gaap Stock Repurchase Program Authorized Amount1
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500000000 USD
CY2017Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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400000000 USD
CY2016Q4 us-gaap Stockholders Equity
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3195146000 USD
CY2017Q4 us-gaap Stockholders Equity
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3275620000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3056170000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3133989000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3195146000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3279724000 USD
CY2015 us-gaap Technology Services Costs
TechnologyServicesCosts
105242000 USD
CY2016 us-gaap Technology Services Costs
TechnologyServicesCosts
94019000 USD
CY2017 us-gaap Technology Services Costs
TechnologyServicesCosts
164872000 USD
CY2015 us-gaap Technology Services Revenue
TechnologyServicesRevenue
252674000 USD
CY2016 us-gaap Technology Services Revenue
TechnologyServicesRevenue
263493000 USD
CY2017 us-gaap Technology Services Revenue
TechnologyServicesRevenue
364864000 USD
CY2015 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
45.84
CY2016 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
49.37
CY2017 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
70.21
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5811000 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
6817000 shares
CY2015 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5672000 shares
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
8506000 shares
CY2017 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
5413000 shares
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
294052000 USD
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
426208000 USD
CY2015 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
260000000 USD
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
400000000 USD
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
380000000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
784000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
31007000 USD
CY2016Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
47760000 USD
CY2017Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
63080000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
13880000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
132054000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
106542000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
91637000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
43944000 USD
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
49456000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
333000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
7205000 USD
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3117000 USD
CY2017 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
14900000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
2659000 USD
CY2017 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
2635000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
106500000 USD
CY2017Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
88500000 USD
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
158065000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
154721000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
154874000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
154957000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152017000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
150457000 shares
CY2017 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Concentration of Credit Risk</font><font style="font-family:Arial;font-size:10pt;">. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash equivalents, marketable securities, foreign currency contracts, and accounts receivable from trade customers. The Company maintains cash equivalents primarily in highly rated taxable and tax-exempt money market funds located in the U.S. and in various overseas locations.</font></div><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Company sells its products worldwide primarily to customers in the global electronics market. The Company performs on-going credit evaluations of its customers&#8217; financial condition and does not require collateral. The Company establishes reserves for potential credit losses and such losses have been within management&#8217;s expectations and have not been material in any year presented.</font></div></div>
CY2017 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Fiscal Year End.</font><font style="font-family:Arial;font-size:10pt;"> The Company&#8217;s fiscal year ends on the Saturday nearest to October&#160;31 and consists of 52 weeks, with the exception that approximately every five years, the Company has a 53-week year. Fiscal </font><font style="font-family:Arial;font-size:10pt;">2017</font><font style="font-family:Arial;font-size:10pt;">, </font><font style="font-family:Arial;font-size:10pt;">2016</font><font style="font-family:Arial;font-size:10pt;">, and </font><font style="font-family:Arial;font-size:10pt;">2015</font><font style="font-family:Arial;font-size:10pt;"> were 52-week years ending on October 28, 2017, October 29, 2016, and October 31, 2015, respectively. For presentation purposes, the consolidated financial statements and accompanying notes refer to the closest calendar month end. Fiscal 2018 will be a 53-week year.</font></div></div>
CY2017 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">.</font></div><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Warranties and Indemnities.</font><font style="font-family:Arial;font-size:10pt;"> The Company generally warrants its products to be free from defects in media and to substantially conform to material specifications for a period of </font><font style="font-family:Arial;font-size:10pt;">90</font><font style="font-family:Arial;font-size:10pt;">&#160;days for software products and for up to </font><font style="font-family:Arial;font-size:10pt;">six</font><font style="font-family:Arial;font-size:10pt;"> months for hardware systems. In certain cases, the Company also provides its customers with limited indemnification with respect to claims that their use of the Company&#8217;s software products infringes on United States patents, copyrights, trademarks or trade secrets. The Company is unable to estimate the potential impact of these commitments on the future results of operations. To date, the Company has not been required to pay any material warranty claims.</font></div></div>
CY2017 us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Synopsys, Inc. (Synopsys or the Company) provides software, intellectual property and services used by designers across the entire silicon to software spectrum, from engineers creating advanced semiconductors to software developers seeking to ensure the security and quality of their applications. The Company is a global leader in supplying the electronic design automation (EDA) software that engineers use to design and test integrated circuits (ICs), also known as chips. The Company also offers semiconductor intellectual property (IP) products, which are pre-designed circuits that engineers use as components of larger chip designs rather than design those circuits themselves. The Company provides software and hardware used to develop the electronic systems that incorporate chips and the software that runs on them. To complement these offerings, the Company provides technical services and support to help its customers develop advanced chips and electronic systems. The Company is also a leading provider of software tools and services that improve the security and quality of software code in a wide variety of industries, including electronics, financial services, media, automotive, medicine, energy and industrials.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:10px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Use of Estimates.</font><font style="font-family:Arial;font-size:10pt;"> To prepare financial statements in conformity with U.S. generally accepted accounting principles (U.S. GAAP), management must make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates and may result in material effects on the Company&#8217;s operating results and financial position.</font></div></div>

Files In Submission

Name View Source Status
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snps-20171031.xml Edgar Link completed
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