SYNOPSYS INC - 10-Q filing on 2020-08-21

Leases (Tables)

9 Months Ended

Jul. 31, 2020

The components of the Company’s lease expense during the period presented are as follows:



	Three Months Ended July 31,		Nine Months Ended July 31,
	2020		2020
	(in thousands)
Operating lease expense	$	23,450	$	69,932
Variable lease expense ⁽¹⁾	1,447		3,439
Total lease expense	$	24,897	$	73,371

⁽¹⁾ 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 is as follows:



	Three Months Ended July 31,		Nine Months Ended July 31,
	2020		2020
	(in thousands)
Cash paid for amounts included in the measurement of operating lease liabilities	$	18,637	$	52,766
ROU assets obtained in exchange for operating lease liabilities	$	27,063	$	56,846

Lessee, Lease Term and Discount Rate

Lease term and discount rate information related to the Company’s operating leases as of the end of the period presented are as follows:



	July 31, 2020
Weighted-average remaining lease term (in years)	8.84
Weighted-average discount rate	2.56	%

Lessee, Operating Lease, Liability, Maturity

The following represents the maturities of the Company’s future lease payments due under operating leases as of July 31, 2020:



	Lease Payments
Fiscal year	(in thousands)
Remainder of fiscal 2020	$	18,137
2021	86,552
2022	76,714
2023	61,045
2024	56,901
Thereafter	311,341
Total future minimum lease payments	610,690
Less: Imputed interest	68,614
Total lease liabilities	$	542,076

Schedule of Future Minimum Rental Payments for Operating Leases

As of October 31, 2019, the future minimum lease payments due under non-cancellable operating leases were as follows:



	Minimum Lease Payments⁽¹⁾
	(in thousands)
Fiscal year
2020	$	79,286
2021	79,703
2022	69,477
2023	53,909
2024	48,730
Thereafter	291,494
Total	$	622,599

⁽¹⁾ Amounts based on Topic 840, Leases.