Company: SNPS
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0000883241-25-000024
Chunk: 169

Company: SYNOPSYS INC
Filing Date: 2025-09-09
Form: 10-Q
Item: Item 8
Chunk 169
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.175% based on the credit ratings of Synopsys on the daily amount of the revolving commitment.There was no outstanding balance under the Revolving Credit Agreement as of July 31, 2025 and October 31, 2024. Other Borrowings:In July 2018, we entered into a 12-year 220.0 million Renminbi (approximately $33.0 million) credit agreement with a lender in China to support our facilities expansion. Borrowings bear interest at a floating rate based on the 5-year Loan Prime Rate plus 0.74%. As of July 31, 2025, we had $13.0 million outstanding balance under the agreement.The carrying amount of the short-term and long-term debt approximates the estimated fair value.The future principal payments of debt as of July 31, 2025 are as follows:Principal PaymentsFiscal year(in thousands)Remainder of fiscal 2025$11,058 202624,710 20272,474,710 20283,874,710 202924,710 2030 and thereafter8,024,709 Total$14,434,607 

Note 11. Leases

We have operating lease arrangements for office space, data center, equipment and other corporate assets. These leases have various expiration dates through December 31, 2042, some of which include options to extend the leases for up to 15 years. We consider the lease renewal options in determining the lease term and include  associated potential option payments in lease payments when it is reasonably certain that the renewal options will be exercised. 

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The components of our lease expense during the period presented are as follows:Three Months Ended July 31,Nine Months Ended July 31,2025202420252024(in thousands)Operating lease expense (1)$29,398 $23,800 $80,513 $67,848 Variable lease expense (2)8,686 5,182 22,243 16,761 Total lease expense$38,084 $28,982 $102,756 $84,609 (1) Operating lease expense includes immaterial amounts of short-term leases, net of sublease income.(2) Variable lease expense includes payments to lessors that are not fixed or determinable at lease commencement date. These payments primarily consist of maintenance, property taxes, insurance and variable indexed based payments. Supplemental cash flow information during the period presented