Company: SNPS
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0000883241-25-000017
Chunk: 155

Company: SYNOPSYS INC
Filing Date: 2025-05-28
Form: 10-Q
Item: Item 8
Chunk 155
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 The gains and losses on these forward contracts generally offset the gains and losses associated with the foreign currency in operating income. The duration of these forward contracts is usually less than one year. The overall goal of our hedging program is to minimize the impact of currency fluctuations on the net income over the fiscal year.The effects of the non-designated foreign currency derivative instruments in the condensed consolidated statements of income are summarized as follows: Three Months Ended  April 30,Six Months Ended  April 30, 2025202420252024 (in thousands)Gains (losses) recorded in other income (expense), net$11,186 $(4,355)$6,765 $(1,066)The notional amounts in the table below for foreign currency derivative instruments provide one measure of the transaction volume outstanding:As ofApril 30, 2025October 31, 2024 (in thousands)Total gross notional amounts$1,243,451 $1,686,341 Net fair value$2,959 $1,819 Our exposure to the market gains or losses will vary over time as a function of currency exchange rates. The amounts ultimately realized upon settlement of these financial instruments, together with the gains and losses on the underlying exposures, will depend on actual market conditions during the remaining life of the instruments.The following table represents the condensed consolidated balance sheets location and amount of foreign currency derivative instrument fair values segregated between designated and non-designated hedge instruments:Fair values ofderivative instrumentsdesignated as hedginginstrumentsFair values ofderivative instrumentsnot designated ashedging instruments (in thousands)Balance at April 30, 2025Other current assets$9,135 $5 Accrued liabilities$6,037 $144 Balance at October 31, 2024Other current assets$8,839 $12 Accrued liabilities$6,918 $114 

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The following table represents the location of the amount of gains and losses on derivative instrument fair values for designated hedge instruments, net of tax in the condensed consolidated statements of income:Location of gains (losses) recognized in OCI on derivativesAmount of gains (losses) recognized in OCI onderivatives(effective portion)Location ofgains (losses)reclassified from OCIAmount ofgains (losses)reclassified fromOCI(e