10-Q Filing

SYNAPTICS INC CIK: 817720 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-023249`
Period End Date	20170930
Filing Date	20171109
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	syna-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 35 Cash Flow Statement 72 Comprehensive Income 6

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.60M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.60M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$106.80M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$118.00M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$352.20M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$199.70M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$367.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$301.40M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $2.6 at September 30, 2017 and June 30, 2017	`AccountsReceivableNetCurrent`	$255.20M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Accounts receivable, net of allowances of $2.6 at September 30, 2017 and June 30, 2017	`AccountsReceivableNetCurrent`	$253.60M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	60.58M	shares	Point-in-time
Inventories	`InventoryNet`	$131.40M	USD	Point-in-time
Inventories	`InventoryNet`	$179.60M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	61.38M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.64M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	33.74M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$16.50M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$37.60M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$792.00M	USD	Point-in-time
Common treasury shares	`TreasuryStockCommonShares`	27.64M	shares	Point-in-time
Common treasury shares	`TreasuryStockCommonShares`	25.94M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$649.40M	USD	Point-in-time
Property and equipment at cost, net of accumulated depreciation of $118.0 and $106.8 at September 30, 2017 and June 30, 2017, respectively	`PropertyPlantAndEquipmentNet`	$113.80M	USD	Point-in-time
Property and equipment at cost, net of accumulated depreciation of $118.0 and $106.8 at September 30, 2017 and June 30, 2017, respectively	`PropertyPlantAndEquipmentNet`	$119.60M	USD	Point-in-time
Goodwill	`Goodwill`	$364.10M	USD	Point-in-time
Goodwill	`Goodwill`	$206.80M	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$101.00M	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$286.70M	USD	Point-in-time
Non-current other assets	`OtherAssetsNoncurrent`	$57.30M	USD	Point-in-time
Non-current other assets	`OtherAssetsNoncurrent`	$53.10M	USD	Point-in-time
Total assets	`Assets`	$1.48B	USD	Point-in-time
Total assets	`Assets`	$1.27B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$135.80M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$126.30M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$21.00M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$31.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$17.20M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$17.40M	USD	Point-in-time
Acquisition-related liabilities	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities`	$8.70M	USD	Point-in-time
Acquisition-related liabilities	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities`	$8.70M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$103.10M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$101.80M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$15.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$276.50M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$310.40M	USD	Point-in-time
Long-term debt, net of issuance costs	`LongTermDebtNoncurrent`	$202.00M	USD	Point-in-time
Convertible notes, net	`ConvertibleLongTermNotesPayable`	$438.10M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$14.10M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$16.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$731.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$526.50M	USD	Point-in-time
$0.001 par value; 120,000,000 shares authorized, 61,375,435 and 60,579,911 shares issued, and 33,735,559 and 34,638,435 shares outstanding, at September 30, 2017 and June 30, 2017, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
$0.001 par value; 120,000,000 shares authorized, 61,375,435 and 60,579,911 shares issued, and 33,735,559 and 34,638,435 shares outstanding, at September 30, 2017 and June 30, 2017, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.11B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.00B	USD	Point-in-time
Treasury stock: 27,639,876 and 25,941,476 common treasury shares at September 30, 2017 and June 30, 2017, respectively, at cost	`TreasuryStockValue`	$980.30M	USD	Point-in-time
Treasury stock: 27,639,876 and 25,941,476 common treasury shares at September 30, 2017 and June 30, 2017, respectively, at cost	`TreasuryStockValue`	$1.07B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.50M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$714.10M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$704.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$740.20M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$745.80M	USD	Point-in-time
Liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.27B	USD	Point-in-time
Liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.48B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`SalesRevenueNet`	$386.20M	USD	1 Quarter
Net revenue	`SalesRevenueNet`	$417.40M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$303.00M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$262.80M	USD	1 Quarter
Gross margin	`GrossProfit`	$123.40M	USD	1 Quarter
Gross margin	`GrossProfit`	$114.40M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$73.40M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$87.10M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$34.60M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$40.30M	USD	1 Quarter
Acquired intangibles amortization	`AmortizationOfIntangibleAssetsIncludedInOperatingExpense`	$4.50M	USD	1 Quarter
Acquired intangibles amortization	`AmortizationOfIntangibleAssetsIncludedInOperatingExpense`	$4.10M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$5.30M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$-200.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$117.80M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$131.30M	USD	1 Quarter
Operating income/(loss)	`OperatingIncomeLoss`	$-16.90M	USD	1 Quarter
Operating income/(loss)	`OperatingIncomeLoss`	$5.60M	USD	1 Quarter
Interest and other income/(expense), net	`NonoperatingIncomeExpense`	$-900.00K	USD	1 Quarter
Interest and other income/(expense), net	`NonoperatingIncomeExpense`	$-6.00M	USD	1 Quarter
Income/(loss) before provision for income taxes and equity investment loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-22.90M	USD	1 Quarter
Income/(loss) before provision for income taxes and equity investment loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$4.70M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$3.20M	USD	1 Quarter
Equity investment loss	`IncomeLossFromEquityMethodInvestments`	$-400.00K	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$3.70M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-26.50M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.79	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.79	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	33.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	34.80M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.60M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	33.50M	shares	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$3.70M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-26.50M	USD	1 Quarter
Share-based compensation costs	`ShareBasedCompensation`	$16.50M	USD	1 Quarter
Share-based compensation costs	`ShareBasedCompensation`	$14.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.60M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.30M	USD	1 Quarter
Acquired intangibles amortization	`AmortizationOfIntangibleAssets`	$16.70M	USD	1 Quarter
Acquired intangibles amortization	`AmortizationOfIntangibleAssets`	$20.10M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$7.30M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$5.70M	USD	1 Quarter
Non-cash interest	`NonCashInterestIncome`	$300.00K	USD	1 Quarter
Amortization of convertible debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$4.30M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$300.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$1.30M	USD	1 Quarter
Equity investment loss	`IncomeLossFromEquityMethodInvestments`	$-400.00K	USD	1 Quarter
Foreign currency remeasurement gain	`ForeignCurrencyTransactionGainLossBeforeTax`	$400.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-13.10M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-13.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-31.80M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$6.50M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-22.00M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$300.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.50M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$100.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.80M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-19.30M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-9.30M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-13.50M	USD	1 Quarter
Acquisition-related liabilities	`IncreaseDecreaseInAcquisitionRelatedLiabilities`	$-12.80M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.10M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$500.00K	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-5.00M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-3.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	-	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$39.80M	USD	1 Quarter
Acquisition of businesses, net of cash and cash equivalents acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$396.80M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.40M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.70M	USD	1 Quarter
Investment in direct financing lease	`PaymentsForInvestmentInDirectFinancingLease`	$14.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-20.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-408.20M	USD	1 Quarter
Proceeds from issuance of convertible debt, net of issuance costs	`ProceedsFromDebtNetOfIssuanceCosts`	$514.50M	USD	1 Quarter
Payment of debt	`RepaymentsOfDebt`	$7.50M	USD	1 Quarter
Payment of debt	`RepaymentsOfDebt`	$220.00M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$25.00M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$93.60M	USD	1 Quarter
Proceeds from issuance of shares	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.00M	USD	1 Quarter
Proceeds from issuance of shares	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$1.10M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.10M	USD	1 Quarter
Excess tax benefit from share-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$600.00K	USD	1 Quarter
Payroll taxes for deferred stock and market stock units	`PaymentForPayrollTaxesForDeferredStockAndMarketStockUnits`	$500.00K	USD	1 Quarter
Payroll taxes for deferred stock and market stock units	`PaymentForPayrollTaxesForDeferredStockAndMarketStockUnits`	$1.40M	USD	1 Quarter
Net cash provided by/(used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$200.40M	USD	1 Quarter
Net cash provided by/(used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-31.30M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$-100.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$500.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-50.80M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-168.10M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$352.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$199.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$367.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$301.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$352.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$199.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$367.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$301.40M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	$11.40M	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	$2.90M	USD	1 Quarter
Cash refund on taxes	`ProceedsFromIncomeTaxRefunds`	$700.00K	USD	1 Quarter
Purchases of property and equipment in current liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$3.50M	USD	1 Quarter
Purchases of property and equipment in current liabilities	`CapitalExpendituresIncurredButNotYetPaid`	$2.70M	USD	1 Quarter
Common stock issued pursuant to acquisition	`StockIssued1`	$39.10M	USD	1 Quarter

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$3.70M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-26.50M	USD	1 Quarter
Reclassification from accumulated other comprehensive income to interest income for accretion of non-current investments	`ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax`	$300.00K	USD	1 Quarter
Net current period-other comprehensive loss	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-300.00K	USD	1 Quarter
Comprehensive income/(loss)	`ComprehensiveIncomeNetOfTax`	$3.40M	USD	1 Quarter
Comprehensive income/(loss)	`ComprehensiveIncomeNetOfTax`	$-26.50M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.