Company: SNPS
Filing Date: 2025-02-26
Form Type: 10-Q
Source: 0000883241-25-000014
Chunk: 60

Company: SYNOPSYS INC
Filing Date: 2025-02-26
Form: 10-Q
Item: Item 1
Chunk 60
---
)Total$(3,588)$(3,278)Amounts reclassified during the three months ended January 31, 2025 and 2024 primarily consisted of gains (losses) from our cash flow hedging activities. See Note 8. Financial Assets and Liabilities of the Notes to Condensed Consolidated Financial Statements.

Note 14. Stock Repurchase Program

In fiscal 2022, our Board of Directors approved a stock repurchase program (the Program) with authorization to purchase up to $1.5 billion of our common stock. As of January 31, 2025, $194.3 million remained available for future repurchases under the Program. However, in connection with the pending Ansys Merger, we have suspended the Program until we reduce our expected debt levels.Stock repurchase activities as well as the reissuance of treasury stock for employee stock-based compensation purposes are as follows: Three Months Ended  January 31, 20252024(1) (in thousands)Total shares repurchased— 74 Total cost of the repurchased shares$— $45,000 Reissuance of treasury stock506 557 (1) Included the 73,903 shares and $45.0 million equity forward contract from the August 2023 Accelerated Share Repurchase (ASR) settled in November 2023.

21

Note 15. Stock-Based Compensation

The compensation cost recognized in the condensed consolidated statements of income for our stock compensation arrangements is as follows: Three Months Ended  January 31, 20252024 (in thousands)Cost of products$20,477 $16,261 Cost of maintenance and service8,991 9,176 Research and development expense102,696 91,137 Sales and marketing expense34,950 30,573 General and administrative expense19,349 18,358 Stock-based compensation expense from continuing operations before taxes186,463 165,505 Stock-based compensation expense from discontinued operations before taxes— 15,147 Total stock-based compensation expense before taxes186,463 180,652 Income tax benefit(30,655)(29,410)Stock-based compensation expense after taxes$155,808 $151,242 During the three months ended January 31, 2025 and 2024, we recognized stock-based compensation expense relating to restricted stock units (RSUs) granted to senior executives with certain