10-Q Filing

SYNAPTICS INC CIK: 817720 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-028626`
Period End Date	20180930
Filing Date	20181108
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	syna-20180929.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 36 Cash Flow Statement 72 Comprehensive Income 6

Balance Sheet 65 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.80M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.00M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$127.40M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$129.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$301.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$263.30M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	120.00M	shares	Point-in-time
Accounts receivable, net of allowances of $2.0 and $1.8 at September 30, 2018 and June 30, 2018, respectively	`AccountsReceivableNetCurrent`	$332.60M	USD	Point-in-time
Accounts receivable, net of allowances of $2.0 and $1.8 at September 30, 2018 and June 30, 2018, respectively	`AccountsReceivableNetCurrent`	$289.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	63.03M	shares	Point-in-time
Inventories	`InventoryNet`	$161.20M	USD	Point-in-time
Inventories	`InventoryNet`	$131.20M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	62.89M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$31.90M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.20M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.25M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	34.53M	shares	Point-in-time
Common treasury shares	`TreasuryStockCommonShares`	28.50M	shares	Point-in-time
Common treasury shares	`TreasuryStockCommonShares`	27.64M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$739.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$789.00M	USD	Point-in-time
Property and equipment at cost, net of accumulated depreciation of $129.5 and $127.4 at September 30, 2018 and June 30, 2018, respectively	`PropertyPlantAndEquipmentNet`	$110.90M	USD	Point-in-time
Property and equipment at cost, net of accumulated depreciation of $129.5 and $127.4 at September 30, 2018 and June 30, 2018, respectively	`PropertyPlantAndEquipmentNet`	$117.80M	USD	Point-in-time
Goodwill	`Goodwill`	$372.80M	USD	Point-in-time
Goodwill	`Goodwill`	$372.80M	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$219.20M	USD	Point-in-time
Acquired intangibles, net	`FiniteLivedIntangibleAssetsNet`	$199.20M	USD	Point-in-time
Non-current other assets	`OtherAssetsNoncurrent`	$52.90M	USD	Point-in-time
Non-current other assets	`OtherAssetsNoncurrent`	$50.50M	USD	Point-in-time
Total assets	`Assets`	$1.50B	USD	Point-in-time
Total assets	`Assets`	$1.52B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$156.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$175.40M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$23.80M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$25.40M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$13.10M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$18.70M	USD	Point-in-time
Acquisition-related liabilities	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities`	$6.80M	USD	Point-in-time
Acquisition-related liabilities	`BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilities`	$8.70M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$79.70M	USD	Point-in-time
Other accrued liabilities	`OtherAccruedLiabilitiesCurrent`	$101.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$283.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$325.70M	USD	Point-in-time
Convertible notes, net	`ConvertibleLongTermNotesPayable`	$450.70M	USD	Point-in-time
Convertible notes, net	`ConvertibleLongTermNotesPayable`	$455.10M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$33.90M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$36.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$770.50M	USD	Point-in-time
Total liabilities	`Liabilities`	$814.70M	USD	Point-in-time
$0.001 par value; 120,000,000 shares authorized, 63,030,058 and 62,889,679 shares issued, and 34,527,728 and 35,249,803 shares outstanding, at September 30, 2018 and June 30, 2018, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
$0.001 par value; 120,000,000 shares authorized, 63,030,058 and 62,889,679 shares issued, and 34,527,728 and 35,249,803 shares outstanding, at September 30, 2018 and June 30, 2018, respectively	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.20B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.21B	USD	Point-in-time
Treasury stock: 28,502,330 and 27,639,876 common treasury shares at September 30, 2018 and June 30, 2018, respectively, at cost	`TreasuryStockValue`	$1.07B	USD	Point-in-time
Treasury stock: 28,502,330 and 27,639,876 common treasury shares at September 30, 2018 and June 30, 2018, respectively, at cost	`TreasuryStockValue`	$1.11B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$1.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$610.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$606.40M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$710.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$729.30M	USD	Point-in-time
Liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.50B	USD	Point-in-time
Liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.52B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$417.40M	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$417.60M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$303.00M	USD	1 Quarter
Cost of revenue	`CostOfGoodsAndServicesSold`	$276.70M	USD	1 Quarter
Gross margin	`GrossProfit`	$140.90M	USD	1 Quarter
Gross margin	`GrossProfit`	$114.40M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$87.10M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$90.00M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$33.90M	USD	1 Quarter
Selling, general, and administrative	`SellingGeneralAndAdministrativeExpense`	$40.30M	USD	1 Quarter
Acquired intangibles amortization	`AmortizationOfIntangibleAssetsIncludedInOperatingExpense`	$4.10M	USD	1 Quarter
Acquired intangibles amortization	`AmortizationOfIntangibleAssetsIncludedInOperatingExpense`	$2.90M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$8.30M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$-200.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$135.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$131.30M	USD	1 Quarter
Operating income/(loss)	`OperatingIncomeLoss`	$5.80M	USD	1 Quarter
Operating income/(loss)	`OperatingIncomeLoss`	$-16.90M	USD	1 Quarter
Interest and other expense, net	`NonoperatingIncomeExpense`	$-1.90M	USD	1 Quarter
Interest and other expense, net	`NonoperatingIncomeExpense`	$-6.00M	USD	1 Quarter
Income/(loss) before provision/(benefit) for income taxes and equity investment loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-22.90M	USD	1 Quarter
Income/(loss) before provision/(benefit) for income taxes and equity investment loss	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$3.90M	USD	1 Quarter
Provision/(benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-300.00K	USD	1 Quarter
Provision/(benefit) for income taxes	`IncomeTaxExpenseBenefit`	$3.20M	USD	1 Quarter
Equity investment loss	`IncomeLossFromEquityMethodInvestments`	$-400.00K	USD	1 Quarter
Equity investment loss	`IncomeLossFromEquityMethodInvestments`	$-400.00K	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$3.80M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-26.50M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.79	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.79	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	33.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.10M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.10M	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)	`ProfitLoss`	$3.80M	USD	1 Quarter
Net income/(loss)	`ProfitLoss`	$-26.50M	USD	1 Quarter
Share-based compensation costs	`ShareBasedCompensation`	$16.70M	USD	1 Quarter
Share-based compensation costs	`ShareBasedCompensation`	$16.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.00M	USD	1 Quarter
Acquired intangibles amortization	`AmortizationOfIntangibleAssets`	$20.00M	USD	1 Quarter
Acquired intangibles amortization	`AmortizationOfIntangibleAssets`	$20.10M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$7.30M	USD	1 Quarter
Deferred taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$5.60M	USD	1 Quarter
Amortization of convertible debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$4.30M	USD	1 Quarter
Amortization of convertible debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$4.40M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$100.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$1.30M	USD	1 Quarter
Impairment recovery on investments	`GainLossOnInvestments`	$2.80M	USD	1 Quarter
Arbitration settlement	`LitigationSettlementExpense`	$-1.90M	USD	1 Quarter
Equity investment loss	`IncomeLossFromEquityMethodInvestments`	$-400.00K	USD	1 Quarter
Equity investment loss	`IncomeLossFromEquityMethodInvestments`	$-400.00K	USD	1 Quarter
Foreign currency remeasurement (gain)/loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$400.00K	USD	1 Quarter
Foreign currency remeasurement (gain)/loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-100.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$38.30M	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-13.20M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$30.00M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-31.80M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-22.00M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$13.80M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$100.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.10M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$22.30M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-28.80M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-13.50M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-1.60M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$500.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.70M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-5.00M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$16.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$4.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.80M	USD	1 Quarter
Acquisition of businesses, net of cash and cash equivalents acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$396.80M	USD	1 Quarter
Proceeds from sales of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$2.80M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.80M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.40M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-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`	$220.00M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$93.60M	USD	1 Quarter
Purchases of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$39.40M	USD	1 Quarter
Proceeds from issuance of shares	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$1.10M	USD	1 Quarter
Proceeds from issuance of shares	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.10M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.10M	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`	$900.00K	USD	1 Quarter
Net cash provided by/(used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$200.40M	USD	1 Quarter
Net cash provided by/(used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-38.20M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-100.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-100.00K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-168.10M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-37.70M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$367.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$199.70M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$263.30M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$301.00M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$367.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$199.70M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$263.30M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations`	$301.00M	USD	Point-in-time
Cash paid for taxes	`IncomeTaxesPaid`	$1.70M	USD	1 Quarter
Cash paid for taxes	`IncomeTaxesPaid`	$11.40M	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`	$2.90M	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`	$3.80M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-26.50M	USD	1 Quarter
Change in unrealized net gain on investment	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-1.50M	USD	1 Quarter
Net current period-other comprehensive loss	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.50M	USD	1 Quarter
Comprehensive income/(loss)	`ComprehensiveIncomeNetOfTax`	$2.30M	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.