Stock Analysis on Net

Cadence Design Systems Inc. (NASDAQ:CDNS)

Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Cadence Design Systems Inc., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

Microsoft Excel
Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Oct 1, 2022 Jul 2, 2022 Apr 2, 2022 Dec 31, 2021 Oct 2, 2021 Jul 3, 2021 Apr 3, 2021 Dec 31, 2020 Sep 26, 2020 Jun 27, 2020 Mar 28, 2020
Revolving credit facility 30,000 100,000 150,000 350,000 350,000 350,000
Current portion of long-term debt 349,958 349,732 349,507 349,285
Accounts payable and accrued liabilities 570,197 632,692 627,200 505,392 456,608 576,558 598,261 510,007 430,135 557,158 454,688 437,195 360,547 417,283 363,835 340,607 271,241 349,951 290,886 306,948 236,813
Current portion of deferred revenue 730,570 737,413 697,836 678,598 659,628 665,024 665,906 686,293 721,246 690,538 652,306 605,296 600,279 553,942 543,361 586,109 521,100 446,857 477,003 494,939 425,616
Current liabilities 1,300,767 1,370,105 1,674,994 1,533,722 1,465,743 1,590,867 1,264,167 1,196,300 1,181,381 1,347,696 1,256,994 1,042,491 960,826 971,225 907,196 926,716 792,341 796,808 1,117,889 1,151,887 1,012,429
Long-term portion of deferred revenue 110,702 115,168 102,439 88,823 87,003 98,931 100,609 96,653 102,515 91,524 102,167 114,573 106,838 101,148 95,991 98,408 92,574 107,064 84,646 87,437 95,503
Long-term debt, excluding current portion 2,477,159 2,476,183 2,475,232 998,935 299,805 299,771 648,801 648,551 648,301 648,078 647,799 347,999 347,792 347,588 347,385 347,186 346,988 346,793 346,584 346,394 346,205
Other long-term liabilities 348,601 339,448 351,028 343,369 301,983 275,651 303,904 305,165 298,546 304,660 252,999 230,982 219,428 225,663 232,041 233,495 224,624 207,102 195,315 157,148 155,842
Long-term liabilities 2,936,462 2,930,799 2,928,699 1,431,127 688,791 674,353 1,053,314 1,050,369 1,049,362 1,044,262 1,002,965 693,554 674,058 674,399 675,417 679,089 664,186 660,959 626,545 590,979 597,550
Total liabilities 4,237,229 4,300,904 4,603,693 2,964,849 2,154,534 2,265,220 2,317,481 2,246,669 2,230,743 2,391,958 2,259,959 1,736,045 1,634,884 1,645,624 1,582,613 1,605,805 1,456,527 1,457,767 1,744,434 1,742,866 1,609,979
Common stock and capital in excess of par value 4,327,187 4,181,737 4,067,586 3,928,477 3,331,547 3,166,964 3,077,954 2,897,885 2,878,749 2,765,673 2,697,632 2,590,893 2,552,207 2,467,701 2,411,791 2,354,801 2,307,965 2,217,939 2,186,850 2,143,016 2,099,425
Treasury stock, at cost (5,693,200) (5,309,579) (5,141,957) (4,971,955) (4,840,181) (4,604,323) (4,463,484) (4,257,084) (3,987,528) (3,824,163) (3,522,219) (3,352,827) (3,025,728) (2,740,003) (2,622,675) (2,509,668) (2,275,998) (2,057,829) (1,934,107) (1,856,333) (1,778,533)
Retained earnings 6,265,447 5,991,868 5,651,658 5,413,547 5,184,027 4,936,384 4,612,485 4,358,164 4,137,044 3,895,240 3,654,848 3,468,543 3,281,623 3,046,288 2,869,709 2,693,402 2,537,502 2,350,333 2,176,595 2,014,965 1,883,677
Accumulated other comprehensive loss (123,177) (190,448) (13,949) (109,177) (107,797) (94,754) (113,061) (90,510) (87,389) (91,637) (122,133) (81,380) (47,919) (33,311) (27,563) (21,792) (27,037) (17,425) (33,620) (45,017) (46,575)
Stockholders’ equity 4,776,257 4,673,578 4,563,338 4,260,892 3,567,596 3,404,271 3,113,894 2,908,455 2,940,876 2,745,113 2,708,128 2,625,229 2,760,183 2,740,675 2,631,262 2,516,743 2,542,432 2,493,018 2,395,718 2,256,631 2,157,994
Total liabilities and stockholders’ equity 9,013,486 8,974,482 9,167,031 7,225,741 5,722,130 5,669,491 5,431,375 5,155,124 5,171,619 5,137,071 4,968,087 4,361,274 4,395,067 4,386,299 4,213,875 4,122,548 3,998,959 3,950,785 4,140,152 3,999,497 3,767,973

Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).

Revolving Credit Facility
The revolving credit facility was stable at $350 million through early 2020 but decreased significantly by the end of 2022, reaching as low as $30 million. No data is reported for 2023 and onwards, indicating possible repayment or data omission.
Current Portion of Long-term Debt
Data starts appearing in early 2024, showing values slightly increasing each quarter around $349 million, suggesting recent classification of near-term obligations.
Accounts Payable and Accrued Liabilities
This liability fluctuated noticeably over the periods, starting at $237 million in Q1 2020 and generally rising, reaching a peak near $632 million by late 2024 before a slight decline. The upward trend indicates increasing operational or supplier-related payables.
Current Portion of Deferred Revenue
Current deferred revenue showed a steady increase from approximately $426 million in early 2020 to over $730 million in Q1 2025, reflecting growth in unearned revenue expected to be recognized within a year, likely due to increased sales or subscription-based services.
Current Liabilities
Current liabilities exhibited some volatility with a dip in late 2020 (below $800 million) but generally increased over time, peaking at nearly $1.6 billion in late 2023. This growth suggests expanding short-term obligations or liabilities coinciding with overall business scaling.
Long-term Portion of Deferred Revenue
Long-term deferred revenue fluctuated mildly, generally hovering between $85 million and $115 million, with no clear upward or downward trend, implying relatively stable expectations of revenue to be recognized beyond one year.
Long-term Debt excluding Current Portion
Long-term debt was steady around $346 million through 2021, then saw a sharp increase exceeding $647 million in late 2022, with another notable jump peaking above $2.4 billion by the end of 2024. A subsequent modest stabilization is indicated at around $2.48 billion early 2025. This pattern suggests significant new borrowing, possibly related to strategic investments or refinancing.
Other Long-term Liabilities
These liabilities increased overall from about $156 million in early 2020 to peaks over $350 million by late 2024. Despite fluctuations, the growth points to rising obligations outside of debt and deferred revenues, potentially related to pension, lease liabilities, or other provisions.
Long-term Liabilities
Overall long-term liabilities trended upwards. Starting near $598 million in early 2020, they surged substantially after 2022, reaching above $2.9 billion by late 2024, largely driven by the increase in long-term debt. This indicates a growing burden of long-dated financial obligations.
Total Liabilities
Total liabilities showed an upward trajectory from approximately $1.61 billion in early 2020 to a peak around $4.6 billion in late 2024, with a slight decline thereafter. The substantial rise was predominantly due to increases in long-term liabilities, highlighting intensified leverage or expanded operational scale.
Common Stock and Capital in Excess of Par Value
This equity component steadily increased from about $2.1 billion early 2020 to above $4.3 billion by early 2025. This consistent growth suggests ongoing issuance of stock or capital contributions, supporting business expansion or refinancing efforts.
Treasury Stock, at Cost
Treasury stock increased in magnitude (negative value) markedly from approximately -$1.78 billion in early 2020 to near -$5.7 billion by early 2025, indicating significant repurchase of shares. This reflects an aggressive buyback strategy over the time horizon.
Retained Earnings
Retained earnings showed robust growth, starting at about $1.9 billion and increasing steadily to approximately $6.3 billion by early 2025. This trend points to sustained profitability and retained net income accumulation over the periods.
Accumulated Other Comprehensive Loss
This item fluctuated considerably, with losses escalating from around -$46 million to a peak near -$190 million in late 2024 but then partially improving. The volatility suggests varying impacts from currency translation adjustments, pension plans, or unrealized gains/losses on investments.
Stockholders’ Equity
Stockholders’ equity fluctuated but displayed an overall upward trend, increasing from roughly $2.16 billion in early 2020 to about $4.8 billion by early 2025. The growth, despite significant treasury stock activity and other comprehensive losses, underscores positive retained earnings and capital infusions.
Total Liabilities and Stockholders’ Equity
The aggregate of liabilities and equity rose substantially from approximately $3.8 billion in early 2020 to over $9 billion by 2025, reflecting considerable balance sheet expansion associated with increased borrowing, equity transactions, and retained earnings.