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Cadence Design Systems, Inc. AR01 Item 7 (6579 words) |
 | Cadence recognizes product revenue when persuasive evidence of an arrangement exists, the product has been delivered, the fee is fixed and determinable, collection of the resulting receivable is probable and vendor specific objective evidence exists to allocate the total fee among all delivered and undelivered elements in the arrangement. |
| Cadence recorded a valuation allowance for 2001 due to uncertainties related to its ability to utilize some of the deferred tax assets, primarily consisting of certain net operating losses carried forward and foreign tax credits, before they expire. |
| Cadence capitalized software development costs of approximately $30.2 million for 2001, $28.4 million for 2000, and $25.7 million for 1999, which represented approximately 9% of total research and development expenditures for 2001 and 10% of research and development expenditures for 2000 and 1999. |
| Cadence Design Systems, Inc. AR01 Note 9 (2493 words) |
| Cadence’s 1987 Employee Stock Option Plan, referred to as the 1987 Plan, provides for the issuance of either incentive or non-qualified options to its employees to purchase up to 71,370,100 shares of common stock at an exercise price not less than fair market value of the stock on the date of grant. |
| Cadence had also authorized three stock repurchase programs under which it repurchased common stock to satisfy estimated requirements for shares to be issued under its employee stock option and purchase plans. |
| Cadence is amortizing the deferred stock compensation to expense over the period during which the stock options and restricted stock vest. |
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