Cadence Design Systems Inc. (CDNS) Financial Statements (2024 and earlier)

Company Profile

Business Address 2655 SEELY AVENUE BLDG 5
SAN JOSE, CA 95134
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,1398821,089933710537
Cash and cash equivalents1,0088821,089928705533
Short-term investments130  454
Receivables489487338338305297
Inventory, net of allowances, customer advances and progress billings182128116765628
Inventory182128116765628
Prepaid expense 167210174   
Other undisclosed current assets   1319989
Total current assets:1,9761,7071,7161,4791,169951
Noncurrent Assets
Operating lease, right-of-use asset 151170130133100
Property, plant and equipment403371306311276253
Long-term investments and receivables    139124
Long-term investments    136118
Accounts and financing receivable, after allowance for credit loss    36
Intangible assets, net (including goodwill)1,8731,7291,162993834888
Goodwill1,5361,374928782662662
Intangible assets, net (excluding goodwill)337355233211172225
Deferred costs    3428
Deferred income tax assets880854764732 
Other noncurrent assets 24818618217110798
Other undisclosed noncurrent assets138120128132697128
Total noncurrent assets:3,6933,4302,6712,4722,1881,518
TOTAL ASSETS:5,6695,1374,3863,9513,3572,469
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:577557417350317257
Employee-related liabilities254219200192
Accounts payable      5
Accrued liabilities 4675039913111759
Other undisclosed accounts payable and accrued liabilities1105564   
Deferred revenue665691554447355
Debt349100   100
Other undisclosed current liabilities      352
Total current liabilities:1,5911,348971797672709
Noncurrent Liabilities
Long-term debt and lease obligation300648348347346345
Long-term debt, excluding current maturities300648348347346345
Liabilities, other than long-term debt37539632731423677
Deferred revenue999210110773
Other liabilities27630522620716377
Other undisclosed noncurrent liabilities      49
Total noncurrent liabilities:6741,044674661582471
Total liabilities:2,2652,3921,6461,4581,2541,180
Equity
Equity, attributable to parent, including:3,4042,7452,7412,4932,1031,288
Treasury stock, value(4,604)(3,824)(2,740)(2,058)(1,668)(1,396)
Accumulated other comprehensive loss(95)(92)(33)(17)(37)(25)
Retained earnings4,9363,8953,0462,3501,762773
Other undisclosed equity, attributable to parent3,1672,7662,4682,2182,0461,936
Total equity:3,4042,7452,7412,4932,1031,288
TOTAL LIABILITIES AND EQUITY:5,6695,1374,3863,9513,3572,469

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues4,0903,5622,9882,6832,3362,138
Cost of revenue(420)(361)(306)(301)(263)(254)
Cost of goods and services sold(44)(41)(48)(46)(41) 
Gross profit:3,6703,2002,6822,3812,0731,884
Operating expenses(2,419)(2,127)(1,903)(1,736)(1,581)(1,488)
Operating income:1,2511,074779646492396
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
67(5)6863
Interest and debt expense(36)(23)(17)(21)(19)(23)
Income from continuing operations before income taxes:1,2821,045768633479376
Income tax expense (benefit)(241)(196)(72)(42)510(31)
Income from continuing operations:1,041849696591989346
Income before gain (loss) on sale of properties:696591989346
Net income available to common stockholders, diluted:1,041849696591989346

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:1,041849696591989346
Other comprehensive income (loss)(3)(58)(16)20(12)(19)
Comprehensive income, net of tax, attributable to parent:1,038791680610977327

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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