Receivables, net

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

RECEIVABLES, NET

RECEIVABLES, NET

Cadence’s current and long-term receivables balances as of March 31, 2023 and December 31, 2022 were as follows:

	As of
	March 31, 2023		December 31, 2022
	(In thousands)
Accounts receivable	$	346,968	$	314,666
Unbilled accounts receivable	143,773		174,334
Long-term receivables	9,994		2,735
Total receivables	500,735		491,735
Less allowance for doubtful accounts	(2,504)		(2,290)
Total receivables, net	$	498,231	$	489,445

Cadence’s customers are primarily concentrated within the semiconductor and electronics systems industries. As of March 31, 2023 and December 31, 2022, no single customer accounted for 10% or more of Cadence’s total receivables.