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We present a theoretical and a numerical formalism for analysis and design of spintronic integrated circuits (SPINICs). The formalism encompasses a generalized circuit theory for spintronic integrated circuits based on nanomagnetic dynamics and spin transport. We propose an extension to the modified nodal analysis technique for the analysis of spin circuits based on the recently developed spin conduction matrices. We demonstrate the applicability of the framework using an example spin logic circuit described using spin Netlists.