Company: SNPS
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0000883241-25-000017
Chunk: 157

Company: SYNOPSYS INC
Filing Date: 2025-05-28
Form: 10-Q
Item: Item 8
Chunk 157
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 compensation plan assets, contingent consideration receivable, and foreign currency derivative contracts.Our cash equivalents and short-term investments are classified within Level 1 or Level 2 because they are valued using quoted market prices in an active market or alternative independent pricing sources and models utilizing market observable inputs.

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Our non-qualified deferred compensation plan assets consist of money market and mutual funds invested in domestic and international marketable securities that are directly observable in active markets and are therefore classified within Level 1.Our foreign currency derivative contracts are classified within Level 2 because these contracts are not actively traded, and the valuation inputs are based on quoted prices and market observable data of similar instruments.Our borrowings under our Credit and Term Loan facilities are classified within Level 2 because these borrowings are not actively traded and have a variable interest rate structure based upon market rates currently available to us for debt with similar terms and maturities. See Note 10. Senior Notes, Bridge Commitment Letter, Term Loan and Revolving Credit Facilities of the Notes to Condensed Consolidated Financial Statements for more information on these borrowings.Our contingent consideration receivable, which was recorded in connection with the Software Integrity Divestiture, was classified within Level 3 because it was estimated using significant inputs that were not observable in the market. See Note 3. Discontinued Operations of the Notes to Condensed Consolidated Financial Statements for additional information.Assets/Liabilities Measured at Fair Value on a Recurring BasisAssets and liabilities measured at fair value on a recurring basis are summarized below as of April 30, 2025:  Fair Value Measurement UsingDescriptionTotalQuoted Prices in Active Marketsfor Identical Assets(Level 1)Significant OtherObservable Inputs(Level 2)SignificantUnobservable Inputs(Level 3) (in thousands)AssetsCash equivalents:Money market funds$630,455 630,455 $— $— Short-term investments:U.S. Treasury, agency & T-bills15,039 — 15,039 — Corporate debt securities102,905 — 102,905 — Asset-backed securities26,872 — 26,872 — Prepaid and other current assets:Foreign currency derivative contracts9,140 — 9,140 — Contingent consideration receivable22,202 — — 22,202 Other long-term assets:Deferred compensation plan assets388