Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The total purchase consideration was allocated to the assets acquired and liabilities assumed with Cadence’s acquisition of OpenEye based on their respective estimated fair values on the acquisition date as follows:

	Fair Value
	(In thousands)
Current assets	$	24,890
Goodwill	359,580
Acquired intangibles	117,400
Other long-term assets	6,542
Total assets acquired	508,412
Current liabilities	15,489
Long-term liabilities	18,456
Total liabilities assumed	33,945
Total purchase consideration	$	474,467

The total purchase consideration was allocated to the assets acquired and liabilities assumed with Cadence’s acquisition of Future Facilities based on their respective estimated fair values on the acquisition date as follows:

	Fair Value
	(In thousands)
Current assets	$	7,992
Goodwill	67,219
Acquired intangibles	38,100
Other long-term assets	2,708
Total assets acquired	116,019
Current liabilities	4,952
Long-term liabilities	8,167
Total liabilities assumed	13,119
Total purchase consideration	$	102,900

The total purchase consideration was allocated to the assets acquired and liabilities assumed with Cadence’s acquisition of NUMECA based on their respective estimated fair values on the acquisition date as follows:

	Acquisition Date Fair Value
	(In thousands)
Current assets	$	16,423
Goodwill	133,077
Acquired intangibles	72,200
Other long-term assets	6,928
Total assets acquired	228,628
Current liabilities	9,951
Long-term liabilities	20,475
Total liabilities assumed	30,426
Total purchase consideration	$	198,202

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Definite-lived intangible assets acquired with Cadence’s acquisition of OpenEye were as follows:

	Fair Value		Weighted Average Amortization Period
	(In thousands)		(in years)
Existing technology	$	53,900	7.0 years
Agreements and relationships	61,400		12.3 years
Tradenames, trademarks and patents	2,100		7.0 years
Total acquired intangibles with definite lives	$	117,400	9.8 years

Definite-lived intangible assets acquired with Cadence’s acquisition of Future Facilities were as follows:

	Fair Value		Weighted Average Amortization Period
	(In thousands)		(in years)
Existing technology	$	20,900	6.0 years
Agreements and relationships	15,600		9.0 years
Tradenames, trademarks and patents	1,600		8.0 years
Total acquired intangibles with definite lives	$	38,100	7.3 years

Definite-lived intangible assets acquired with Cadence’s fiscal 2021 acquisitions were as follows:

	Acquisition Date Fair Value		Weighted Average Amortization Period
	(In thousands)		(in years)
Existing technology	$	59,100	13.7 years
Agreements and relationships	28,900		13.7 years
Tradenames, trademarks and patents	4,600		14.3 years
Total acquired intangibles with definite lives	$	92,600	13.7 years