Synopsys Inc., balance sheet: debt

US$ in thousands

	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020
Short-term debt	22,117)	—)	—)	—)	74,992)	27,084)
Long-term debt	13,462,398)	15,601)	18,078)	20,824)	25,094)	100,823)
Total debt (carrying amount)	13,484,515)	15,601)	18,078)	20,824)	100,086)	127,907)

Based on: 10-K (reporting date: 2025-10-31), 10-K (reporting date: 2024-10-31), 10-K (reporting date: 2023-10-31), 10-K (reporting date: 2022-10-31), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-31).

The carrying amount of total debt exhibited significant fluctuations over the observed period. Initially, a substantial decrease is noted, followed by a period of relative stability, and then a dramatic increase in the final year.

Overall Trend: Total debt began at 127,907 thousand US dollars in 2020 and decreased to 100,086 thousand US dollars in 2021. It continued to decline, reaching 20,824 thousand US dollars in 2022 and remaining relatively stable at 18,078 thousand US dollars in 2023 and 15,601 thousand US dollars in 2024. However, a considerable increase is observed in 2025, with total debt reaching 13,484,515 thousand US dollars.
Short-Term Debt: Short-term debt demonstrated volatility. It increased significantly from 27,084 thousand US dollars in 2020 to 74,992 thousand US dollars in 2021, then became unavailable for 2022 and 2023. It reappeared in 2025 at 22,117 thousand US dollars, representing a substantial decrease from its 2021 peak.
Long-Term Debt: Long-term debt decreased consistently from 100,823 thousand US dollars in 2020 to 13,462,398 thousand US dollars in 2025. The most substantial decrease occurred between 2024 and 2025. The decline was gradual from 2020 to 2023, then accelerated significantly in the final year.

The substantial increase in total debt in 2025 is primarily attributable to a corresponding increase in long-term debt. The fluctuations in short-term debt appear less impactful on the overall total debt figure, particularly given the magnitude of the change in long-term debt during the final period.

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	Oct 31, 2025
Selected Financial Data (US$ in thousands)
Senior Notes	10,100,000)
Term Loan due on July 17, 2027	600,000)
Term Loan due on July 17, 2028	2,850,000)
Deferred payment on settlement of interest rate treasury lock	110,585)
Other borrowings	13,086)
Total debt (fair value)	13,673,671)
Financial Ratio
Debt, fair value to carrying amount ratio	1.01

Based on: 10-K (reporting date: 2025-10-31).

Weighted-average effective interest rate on Senior Notes and Term Loan: 5.28%

Interest rate	Debt amount¹	Interest rate × Debt amount
4.84%	1,000,000)	48,400)
4.85%	1,000,000)	48,500)
4.98%	2,000,000)	99,600)
5.15%	1,500,000)	77,250)
5.27%	2,400,000)	126,480)
5.80%	2,100,000)	121,800)
5.39%	600,000)	32,340)
5.48%	2,850,000)	156,180)
Total	13,450,000)	710,550)
5.28%

Based on: 10-K (reporting date: 2025-10-31).

¹ US$ in thousands

² Weighted-average interest rate = 100 × 710,550 ÷ 13,450,000 = 5.28%

Synopsys Inc. (NASDAQ:SNPS)

Analysis of Debt

Total Debt (Carrying Amount)

Total Debt (Fair Value)

Weighted-average Interest Rate on Debt