Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Cadence Design Systems Inc., consolidated income statement

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 28, 2019
Product and maintenance	3,834,359)	3,340,197)	2,812,947)	2,536,617)	2,204,615)
Services	255,627)	221,521)	175,297)	146,274)	131,704)
Revenue	4,089,986)	3,561,718)	2,988,244)	2,682,891)	2,336,319)
Cost of product and maintenance	(331,760)	(273,565)	(222,647)	(231,026)	(189,146)
Cost of services	(103,281)	(98,058)	(84,359)	(74,472)	(77,211)
Cost of revenue	(435,041)	(371,623)	(307,006)	(305,498)	(266,357)
Gross margin	3,654,945)	3,190,095)	2,681,238)	2,377,393)	2,069,962)
Marketing and sales	(690,319)	(604,224)	(560,262)	(516,460)	(481,673)
Research and development	(1,441,796)	(1,251,544)	(1,134,277)	(1,033,732)	(935,938)
General and administrative	(242,430)	(242,116)	(189,018)	(154,425)	(139,806)
Amortization of acquired intangibles	(18,162)	(18,470)	(19,640)	(18,009)	(12,128)
Restructuring	(11,013)	(55)	1,048)	(9,215)	(8,621)
Income from operations	1,251,225)	1,073,686)	779,089)	645,552)	491,796)
Interest expense	(36,185)	(22,934)	(16,980)	(20,749)	(18,829)
Interest income	29,637)	10,099)	2,634)	3,817)	9,509)
Gains (losses) on investments	34,602)	(5,427)	580)	(4,954)	(4,089)
Gains (losses) on securities in NQDC trust	10,851)	(8,744)	6,163)	4,881)	5,402)
Gains (losses) on foreign exchange	(5,490)	(459)	(2,789)	4,429)	(4,111)
Other expense, net	(2,714)	(858)	(262)	(228)	(710)
Other income (expense), net	66,886)	(5,389)	6,326)	7,945)	6,001)
Income before (provision) benefit for income taxes	1,281,926)	1,045,363)	768,435)	632,748)	478,968)
(Provision) benefit for income taxes	(240,782)	(196,411)	(72,480)	(42,104)	510,011)
Net income	1,041,144)	848,952)	695,955)	590,644)	988,979)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).

Download chart

Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Cadence Design Systems Inc. revenue increased from 2021 to 2022 and from 2022 to 2023.
Income from operations	The net result for the period of deducting operating expenses from operating revenues.	Cadence Design Systems Inc. income from operations increased from 2021 to 2022 and from 2022 to 2023.
Income before (provision) benefit for income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Cadence Design Systems Inc. income before (provision) benefit for income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Cadence Design Systems Inc. net income increased from 2021 to 2022 and from 2022 to 2023.

Cadence Design Systems Inc. (NASDAQ:CDNS)

Income Statement