$SYNA
SYNAPTICS Inc

2023 Q2 Form 10-Q Financial Statement

#000095017023017848 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $227.3M $326.6M
YoY Change -52.29% -30.53%
Cost Of Revenue $126.1M $154.3M
YoY Change -40.04% -28.66%
Gross Profit $101.2M $172.3M
YoY Change -61.97% -32.11%
Gross Profit Margin 44.52% 52.76%
Selling, General & Admin $46.20M $41.70M
YoY Change 20.63% -5.66%
% of Gross Profit 45.65% 24.2%
Research & Development $84.50M $87.90M
YoY Change -10.2% -10.49%
% of Gross Profit 83.5% 51.02%
Depreciation & Amortization $8.500M $8.500M
YoY Change -6.59% -80.41%
% of Gross Profit 8.4% 4.93%
Operating Expenses $139.2M $138.1M
YoY Change -1.63% -16.66%
Operating Profit -$38.00M $34.20M
YoY Change -130.5% -61.18%
Interest Expense -$6.300M $11.30M
YoY Change -29.21% 151.11%
% of Operating Profit 33.04%
Other Income/Expense, Net -$7.000M
YoY Change 4.48%
Pretax Income -$44.30M $27.20M
YoY Change -138.45% -68.66%
Income Tax -$20.90M $16.80M
% Of Pretax Income 61.76%
Net Earnings -$23.40M $10.40M
YoY Change -128.23% -83.98%
Net Earnings / Revenue -10.29% 3.18%
Basic Earnings Per Share $0.26
Diluted Earnings Per Share -$0.59 $0.26
COMMON SHARES
Basic Shares Outstanding 39.52M 39.40M
Diluted Shares Outstanding 39.90

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $934.3M $933.9M
YoY Change 6.66% 23.71%
Cash & Equivalents $924.7M $898.0M
Short-Term Investments $9.600M $35.90M
Other Short-Term Assets $36.60M $34.40M
YoY Change 2.81% -28.48%
Inventory $137.2M $147.8M
Prepaid Expenses
Receivables $163.9M $218.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.272B $1.334B
YoY Change -9.36% 6.98%
LONG-TERM ASSETS
Property, Plant & Equipment $66.40M $69.00M
YoY Change 5.56% 9.35%
Goodwill $816.4M $816.4M
YoY Change 1.21% 0.23%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $109.1M $112.4M
YoY Change -18.58% -31.34%
Total Long-Term Assets $1.339B $1.380B
YoY Change -7.93% -4.85%
TOTAL ASSETS
Total Short-Term Assets $1.272B $1.334B
Total Long-Term Assets $1.339B $1.380B
Total Assets $2.611B $2.715B
YoY Change -8.63% 0.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.80M $60.80M
YoY Change -67.7% -55.16%
Accrued Expenses $154.3M $93.70M
YoY Change -34.59% -57.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $6.000M
YoY Change 0.0%
Total Short-Term Liabilities $260.1M $268.9M
YoY Change -43.87% -31.58%
LONG-TERM LIABILITIES
Long-Term Debt $972.0M $972.9M
YoY Change -0.38% -0.99%
Other Long-Term Liabilities $135.9M $151.8M
YoY Change -10.94% -7.83%
Total Long-Term Liabilities $1.108B $1.125B
YoY Change -1.81% -1.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $260.1M $268.9M
Total Long-Term Liabilities $1.108B $1.125B
Total Liabilities $1.368B $1.394B
YoY Change -14.05% -9.52%
SHAREHOLDERS EQUITY
Retained Earnings $1.112B $1.136B
YoY Change 7.09% 18.83%
Common Stock $1.009B $981.3M
YoY Change 9.21% 9.29%
Preferred Stock
YoY Change
Treasury Stock (at cost) $878.0M $794.6M
YoY Change 26.42% 14.41%
Treasury Stock Shares
Shareholders Equity $1.243B $1.321B
YoY Change
Total Liabilities & Shareholders Equity $2.611B $2.715B
YoY Change -8.63% 0.62%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$23.40M $10.40M
YoY Change -128.23% -83.98%
Depreciation, Depletion And Amortization $8.500M $8.500M
YoY Change -6.59% -80.41%
Cash From Operating Activities $94.50M $108.5M
YoY Change -26.17% -15.04%
INVESTING ACTIVITIES
Capital Expenditures $5.200M $13.70M
YoY Change -223.81% -200.0%
Acquisitions
YoY Change
Other Investing Activities $27.30M $4.400M
YoY Change 58.72% -93.63%
Cash From Investing Activities $22.10M -$9.300M
YoY Change 70.0% -116.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -87.10M -19.20M
YoY Change 3250.0% -469.23%
NET CHANGE
Cash From Operating Activities 94.50M 108.5M
Cash From Investing Activities 22.10M -9.300M
Cash From Financing Activities -87.10M -19.20M
Net Change In Cash 29.50M 80.00M
YoY Change -78.68% -57.51%
FREE CASH FLOW
Cash From Operating Activities $94.50M $108.5M
Capital Expenditures $5.200M $13.70M
Free Cash Flow $89.30M $94.80M
YoY Change -32.45% -32.96%

Facts In Submission

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10400000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
400000
CY2023Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
8800000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3100000
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
25600000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
29800000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
1321100000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
967200000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
40200000
CY2021Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7800000
CY2021Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
27700000
CY2021Q3 syna Redemption Of Convertible Debt
RedemptionOfConvertibleDebt
-7300000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
21200000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
1001400000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
69500000
CY2021Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-100000
CY2021Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
800000
CY2021Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
35800000
CY2021Q4 syna Share Based Compensation Attributable To Acquisition
ShareBasedCompensationAttributableToAcquisition
1700000
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
26400000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
1063900000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
64900000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1200000
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6500000
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2600000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
26200000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
1157700000
us-gaap Profit Loss
ProfitLoss
97000000.0
us-gaap Profit Loss
ProfitLoss
174600000
us-gaap Share Based Compensation
ShareBasedCompensation
91700000
us-gaap Share Based Compensation
ShareBasedCompensation
73800000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
20200000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
17900000
syna Acquired Intangibles Amortization
AcquiredIntangiblesAmortization
97400000
syna Acquired Intangibles Amortization
AcquiredIntangiblesAmortization
91500000
syna Gain On Sale And Leaseback Transaction
GainOnSaleAndLeasebackTransaction
0
syna Gain On Sale And Leaseback Transaction
GainOnSaleAndLeasebackTransaction
5400000
syna Loss On Redemption Of Convertible Notes
LossOnRedemptionOfConvertibleNotes
0
syna Loss On Redemption Of Convertible Notes
LossOnRedemptionOfConvertibleNotes
-8100000
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
22300000
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
27700000
syna Change In Operating Lease Right Of Use Asset
ChangeInOperatingLeaseRightOfUseAsset
7400000
syna Change In Operating Lease Right Of Use Asset
ChangeInOperatingLeaseRightOfUseAsset
7800000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1900000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2800000
syna Amortization Of Cost Of Development Services
AmortizationOfCostOfDevelopmentServices
5800000
syna Amortization Of Cost Of Development Services
AmortizationOfCostOfDevelopmentServices
7500000
syna Provision For Inventory Excess And Obsolescence
ProvisionForInventoryExcessAndObsolescence
4700000
syna Provision For Inventory Excess And Obsolescence
ProvisionForInventoryExcessAndObsolescence
-9400000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1600000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
200000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
800000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-600000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1600000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-106700000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
57300000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-17200000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
31900000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4400000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4400000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-9000000.0
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-10500000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-80700000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
21100000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-47700000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-7000000.0
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
2300000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
14700000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-69600000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
16400000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
237000000.0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
308400000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15500000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
504800000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
200000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
55900000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
16300000
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
12200000
us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
0
us-gaap Proceeds From Payments For Trading Securities
ProceedsFromPaymentsForTradingSecurities
-5800000
syna Receipt Of Liquidation Payment On Equity Investment
ReceiptOfLiquidationPaymentOnEquityInvestment
800000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
900000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29000000.0
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26900000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-28100000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-469400000
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
0
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
600000000.0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
11200000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
17600000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
15100000
syna Payment For Payroll Taxes For Deferred Stock And Market Stock Units
PaymentForPayrollTaxesForDeferredStockAndMarketStockUnits
52200000
syna Payment For Payroll Taxes For Deferred Stock And Market Stock Units
PaymentForPayrollTaxesForDeferredStockAndMarketStockUnits
66100000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
100100000
us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-4500000
us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-1500000
syna Payment For Redemption Of Convertible Notes
PaymentForRedemptionOfConvertibleNotes
0
syna Payment For Redemption Of Convertible Notes
PaymentForRedemptionOfConvertibleNotes
-505600000
syna Refundable Deposit Paid To Vendor
RefundableDepositPaidToVendor
0
syna Refundable Deposit Paid To Vendor
RefundableDepositPaidToVendor
-16600000
syna Return Of Deposit Received From Vendor
ReturnOfDepositReceivedFromVendor
5000000.0
syna Return Of Deposit Received From Vendor
ReturnOfDepositReceivedFromVendor
2800000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-134200000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16900000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-700000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1900000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
74000000.0
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-146000000.0
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
824000000.0
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
836300000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
898000000.0
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
690300000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
91100000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
37700000
us-gaap Interest Paid Net
InterestPaidNet
32700000
us-gaap Interest Paid Net
InterestPaidNet
12500000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1800000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3100000
syna Receipt Of Intangible Assets From Advance Payment Made In Previous Fiscal Year
ReceiptOfIntangibleAssetsFromAdvancePaymentMadeInPreviousFiscalYear
30000000.0
syna Receipt Of Intangible Assets From Advance Payment Made In Previous Fiscal Year
ReceiptOfIntangibleAssetsFromAdvancePaymentMadeInPreviousFiscalYear
0
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue, expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to revenue recognition, allowance for credit losses, cost of revenue, inventories, loss on purchase commitments, product warranty, accrued liabilities, share-based compensation costs, provision for income taxes, deferred income tax asset valuation allowances, uncertain tax positions, goodwill, intangible assets, investments and loss contingencies. We base our estimates on historical experience, applicable laws and regulations, and various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.</span>
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
920655
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
68521
syna Account Receivable Bad Debt Charge
AccountReceivableBadDebtCharge
0
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1200000
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1200000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
7200000
CY2023Q1 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
39600000
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
27300000
CY2022Q2 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
61300000
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
18800000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21600000
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3500000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
10400000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
64900000
us-gaap Net Income Loss
NetIncomeLoss
97000000.0
us-gaap Net Income Loss
NetIncomeLoss
174600000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39.4
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39.5
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39.7
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38.8
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0.5
CY2022Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1.2
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0.6
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1.9
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39.9
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40.7
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40.3
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40.7
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.64
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.50
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.59
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.29
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
665898
CY2023Q1 us-gaap Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
30000000.0
CY2023Q1 us-gaap Inventory Work In Process And Raw Materials Net Of Reserves
InventoryWorkInProcessAndRawMaterialsNetOfReserves
75900000
CY2022Q2 us-gaap Inventory Work In Process And Raw Materials Net Of Reserves
InventoryWorkInProcessAndRawMaterialsNetOfReserves
92200000
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
71900000
CY2022Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
77500000
CY2023Q1 us-gaap Inventory Net
InventoryNet
147800000
CY2022Q2 us-gaap Inventory Net
InventoryNet
169700000
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
37300000
CY2023Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
35900000
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
54000000.0
CY2022Q2 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
52000000.0
CY2023Q1 syna Cash Held In Bank
CashHeldInBank
452200000
CY2022Q2 syna Cash Held In Bank
CashHeldInBank
811900000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
7300000
CY2022Q2 us-gaap Goodwill
Goodwill
806600000
CY2021Q2 us-gaap Goodwill
Goodwill
570000000.0
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
9800000
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
236600000
CY2023Q1 us-gaap Goodwill
Goodwill
816400000
CY2022Q2 us-gaap Goodwill
Goodwill
806600000
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P4Y10M24D
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
723300000
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
391900000
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
331400000
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
699700000
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
309700000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
390000000.0
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
32200000
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
37100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
97400000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
91500000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The leases expire at various dates through fiscal 2034, some of which include options to extend the lease for up to seven years.
syna Lease Expiration Year
LeaseExpirationYear
2034
us-gaap Operating Lease Expense
OperatingLeaseExpense
9100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
9100000
CY2023Q1 syna Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
25900000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
64700000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11300000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
51200000
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
61200000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9400000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7600000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
44000000.0
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
51500000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
53400000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
59100000
us-gaap Operating Lease Cost
OperatingLeaseCost
7000000.0
us-gaap Operating Lease Cost
OperatingLeaseCost
9100000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
7200000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
39400000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y6M
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.051
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1900000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
11300000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9900000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
8400000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
53400000
CY2023Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
223700000
CY2022Q2 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
328100000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
5500000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
6000000.0
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218200000
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
322100000
CY2023Q1 syna Customer Obligation
CustomerObligation
46800000
CY2022Q2 syna Customer Obligation
CustomerObligation
88600000
CY2023Q1 syna Accrued Liabilities For Inventory Purchase
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7700000
CY2022Q2 syna Accrued Liabilities For Inventory Purchase
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14100000
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9400000
CY2022Q2 us-gaap Operating Lease Liability Current
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7600000
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29800000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
35000000.0
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93700000
CY2022Q2 us-gaap Accrued Liabilities Current
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CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
44000000.0
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
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DeferredTaxLiabilities
45800000
CY2022Q2 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
52600000
CY2023Q1 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
45900000
CY2022Q2 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
29100000
CY2023Q1 us-gaap Other Accrued Liabilities Noncurrent
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CY2022Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
19400000
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
151800000
CY2022Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
152600000
syna Redemptionofprincipalamountpercentage
Redemptionofprincipalamountpercentage
1
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5700000
CY2023Q1 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
4100000
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
12500000
syna Percentage Of Voting Capital Stock Of Certain Foreign Subsidiaries Collateralized
PercentageOfVotingCapitalStockOfCertainForeignSubsidiariesCollateralized
0.65
syna Percentageofnonvotingcapitalstock
Percentageofnonvotingcapitalstock
1
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
600000000.0
CY2028Q4 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2028-12-02
CY2021Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0100
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11200000
CY2023Q1 us-gaap Interest Expense
InterestExpense
11300000
us-gaap Interest Expense
InterestExpense
26200000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
5288000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29800000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
34100000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
92400000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
106300000
CY2023Q1 syna Employee Service Share Based Compensation Tax Benefit Expense From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitExpenseFromCompensationExpense
-2800000
CY2022Q1 syna Employee Service Share Based Compensation Tax Benefit Expense From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitExpenseFromCompensationExpense
-3400000
syna Employee Service Share Based Compensation Tax Benefit Expense From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitExpenseFromCompensationExpense
-10700000
syna Employee Service Share Based Compensation Tax Benefit Expense From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitExpenseFromCompensationExpense
-20100000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
31185
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
61.51
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
27359
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
62.17
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
557
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
81.89
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3269
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
52.50
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
183600000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16800000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
73300000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
32300000
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
24700000
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
54500000
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
2700000
syna Increase Decrease In Unrecognized Tax Benefit Income Tax Penalties And Interest Accrued
IncreaseDecreaseInUnrecognizedTaxBenefitIncomeTaxPenaltiesAndInterestAccrued
200000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
syna Number Of Product Categories
NumberOfProductCategories
3
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
326600000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
470100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1127800000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1263300000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
326600000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
470100000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1127800000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1263300000
CY2022Q1 us-gaap Restructuring Charges
RestructuringCharges
11300000
us-gaap Restructuring Charges
RestructuringCharges
17800000
us-gaap Restructuring Charges
RestructuringCharges
0

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