Receivables, net

6 Months Ended

Jul. 02, 2022

Receivables [Abstract]

RECEIVABLES, NET

RECEIVABLES, NET

Cadence’s current and long-term receivables balances as of July 2, 2022 and January 1, 2022 were as follows:

	As of
	July 2, 2022		January 1, 2022
	(In thousands)
Accounts receivable	$	241,342	$	185,599
Unbilled accounts receivable	153,451		155,689
Long-term receivables	6,223		5,098
Total receivables	401,016		346,386
Less allowance for doubtful accounts	(3,055)		(3,692)
Total receivables, net	$	397,961	$	342,694

Cadence’s customers are primarily concentrated within the semiconductor and electronics systems industries. As of July 2, 2022, one customer accounted for 11% of Cadence’s total receivables. As of January 1, 2022, no customer accounted for 10% or more of Cadence’s total receivables.