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)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8821,089933710537693
Cash and cash equivalents8821,089928705533688
Short-term investments  4544
Receivables487338338305297190
Inventory, net of allowances, customer advances and progress billings12811676562833
Inventory12811676562833
Prepaid expense210174    
Other undisclosed current assets   131998964
Total current assets:1,7071,7161,4791,169951980
Noncurrent Assets
Operating lease, right-of-use asset170130133100✕✕
Property, plant and equipment371306311276253251
Long-term investments and receivables    13912412
Long-term investments    136118 
Accounts and financing receivable, after allowance for credit loss    3612
Intangible assets, net (including goodwill)1,7291,162993834888945
Goodwill1,374928782662662666
Intangible assets, net (excluding goodwill)355233211172225279
Deferred costs    3428 
Deferred income tax assets854764732 ✕✕
Other noncurrent assets18618217110798230
Other undisclosed noncurrent assets120128132697128 
Total noncurrent assets:3,4302,6712,4722,1881,5181,439
TOTAL ASSETS:5,1374,3863,9513,3572,4692,419
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:557417350317257221
Taxes payable✕✕    4
Employee-related liabilities✕✕254219200192164
Accounts payable     55
Accrued liabilities503991311175948
Other undisclosed accounts payable and accrued liabilities5564    
Deferred revenue691554447355✕✕
Debt100   10085
Deferred revenue and credits✕✕✕✕✕✕336
Other undisclosed current liabilities     352 
Total current liabilities:1,348971797672709642
Noncurrent Liabilities
Long-term debt and lease obligation648348347346345644
Long-term debt, excluding current maturities648348347346345644
Liabilities, other than long-term debt39632731423677143
Deferred revenue and credits✕✕✕✕✕✕62
Deferred revenue9210110773✕✕
Other liabilities3052262071637781
Other undisclosed noncurrent liabilities     49 
Total noncurrent liabilities:1,044674661582471787
Total liabilities:2,3921,6461,4581,2541,1801,430
Equity
Equity, attributable to parent, including:2,7452,7412,4932,1031,288989
Treasury stock, value(3,824)(2,740)(2,058)(1,668)(1,396)(1,178)
Accumulated other comprehensive loss(92)(33)(17)(37)(25)(4)
Retained earnings3,8953,0462,3501,762773341
Other undisclosed equity, attributable to parent2,7662,4682,2182,0461,9361,830
Total equity:2,7452,7412,4932,1031,288989
TOTAL LIABILITIES AND EQUITY:5,1374,3863,9513,3572,4692,419

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues3,5622,9882,6832,3362,1381,943
Revenue, net✕✕✕✕✕✕1,943
Cost of revenue(361)(306)(301)(263)(254)(237)
Cost of goods and services sold(41)(48)(46)(41) (81)
Gross profit:3,2002,6822,3812,0731,8841,706
Operating expenses(2,127)(1,903)(1,736)(1,581)(1,488)(1,382)
Operating income:1,074779646492396324
Nonoperating income (expense)
(Other Nonoperating Income (Expense))		(5)686317
Interest and debt expense(23)(17)(21)(19)(23)(26)
Income from continuing operations before income taxes:1,045768633479376315
Income tax expense (benefit)(196)(72)(42)510(31)(111)
Income from continuing operations:849696591989346204
Income before gain (loss) on sale of properties:✕✕696591989346204
Net income available to common stockholders, diluted:849696591989346204

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:849696591989346204
Other comprehensive income (loss)(58)(16)20(12)(19)22
Comprehensive income, net of tax, attributable to parent:791680610977327226

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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