Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Cadence Design Systems Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 28, 2019
Net income	1,041,144)	848,952)	695,955)	590,644)	988,979)
Depreciation and amortization	145,292)	132,088)	142,308)	145,653)	122,789)
Amortization of debt discount and fees	1,262)	1,134)	1,219)	1,053)	1,001)
Stock-based compensation	325,611)	270,439)	210,090)	197,268)	181,547)
(Gain) loss on investments, net	(34,602)	5,425)	(580)	4,954)	4,090)
Deferred income taxes	(36,512)	(107,606)	(43,178)	(26,117)	(576,738)
Provisions for losses on receivables	3,325)	204)	525)	1,628)	632)
ROU asset amortization and change in operating lease liabilities	451)	3,342)	(11,606)	4,483)	562)
Other non-cash items	1,983)	371)	427)	773)	428)
Receivables	(11,748)	(138,471)	2,014)	(25,934)	(4,718)
Inventories	(65,895)	(23,073)	(39,027)	(25,685)	(33,024)
Prepaid expenses and other	39,015)	(38,927)	(34,342)	(31,167)	(11,031)
Other assets	(45,784)	(933)	(7,133)	(71,606)	(8,011)
Accounts payable and accrued liabilities	5,415)	113,945)	67,356)	18,394)	33,915)
Deferred revenue	(21,583)	131,462)	100,731)	110,173)	27,498)
Other long-term liabilities	1,802)	43,542)	16,199)	10,408)	1,681)
Changes in operating assets and liabilities, net of effect of acquired businesses	(98,778)	87,545)	105,798)	(15,417)	6,310)
Adjustments to reconcile net income to net cash provided by operating activities	308,032)	392,942)	405,003)	314,278)	(259,379)
Net cash provided by operating activities	1,349,176)	1,241,894)	1,100,958)	904,922)	729,600)
Purchases of investments	(176,170)	(1,000)	—)	—)	(33,717)
Proceeds from the sale and maturity of investments	64,775)	366)	128)	217)	2,952)
Purchases of property, plant and equipment	(102,337)	(123,215)	(65,298)	(94,813)	(74,605)
Purchases of intangible assets	(166)	(1,000)	(1,583)	—)	—)
Cash paid in business combinations, net of cash acquired	(198,351)	(613,785)	(226,201)	(197,562)	(338)
Net cash used for investing activities	(412,249)	(738,634)	(292,954)	(292,158)	(105,708)
Proceeds from revolving credit facility	50,000)	585,000)	—)	350,000)	150,000)
Payments on revolving credit facility	(150,000)	(485,000)	—)	(350,000)	(250,000)
Proceeds from term loan	—)	300,000)	—)	—)	—)
Payment of debt issuance costs	—)	(425)	(1,285)	—)	—)
Proceeds from issuance of common stock	132,957)	105,331)	87,772)	74,803)	52,842)
Stock received for payment of employee taxes on vesting of restricted stock	(136,396)	(111,864)	(117,982)	(110,028)	(90,580)
Payments for repurchases of common stock	(700,134)	(1,050,091)	(612,297)	(380,064)	(306,148)
Net cash used for financing activities	(803,573)	(657,049)	(643,792)	(415,289)	(443,886)
Effect of exchange rate changes on cash and cash equivalents	(7,527)	(52,826)	(3,704)	25,747)	(8,094)
Increase (decrease) in cash and cash equivalents	125,827)	(206,615)	160,508)	223,222)	171,912)
Cash and cash equivalents at beginning of year	882,325)	1,088,940)	928,432)	705,210)	533,298)
Cash and cash equivalents at end of year	1,008,152)	882,325)	1,088,940)	928,432)	705,210)

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

Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Cadence Design Systems Inc. net cash provided by operating activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash used for investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Cadence Design Systems Inc. net cash used for investing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Net cash used for financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Cadence Design Systems Inc. net cash used for financing activities decreased from 2021 to 2022 and from 2022 to 2023.

Cadence Design Systems Inc. (NASDAQ:CDNS)

Cash Flow Statement