Company: SNPS
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0000883241-25-000017
Chunk: 64

Company: SYNOPSYS INC
Filing Date: 2025-05-28
Form: 10-Q
Item: Item 1
Chunk 64
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 the daily amount of the revolving commitment.Subject to the completion of the Ansys Merger, interest under the Revolving Credit Agreement will accrue on dollar-denominated loans at a floating rate based on, at Synopsys’ election, (i) the Adjusted Term SOFR Rate plus an applicable margin based on our credit ratings ranging from 0.795% to 1.200% or (ii) the ABR plus an applicable margin based on our credit ratings ranging from 0.000% to 0.200%. In addition to the interest on any outstanding loans, Synopsys will also be required to pay a facility fee on the entire portion of the revolving credit facility ranging from 0.080% to 0.175% 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 April 30, 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 April 30, 2025, we had $14.1 million outstanding balance under the agreement.

23

The carrying amount of the short-term and long-term debt approximates the estimated fair value.The future principal payments of debt as of April 30, 2025 are as follows:Principal PaymentsFiscal year(in thousands)Remainder of fiscal 2025$12,344 202624,689 20271,024,689 20281,024,689 202924,689 2030 and thereafter8,024,689 Total$10,135,789 

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 10 years. Because we are not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term and associated potential option payments are excluded from lease payments.The components of our lease expense during the period presented are as follows:Three Months Ended April 30,Six Months Ended April 30,202520242