The following tables reconcile the specific items excluded from GAAP net income and GAAP net income per diluted share in the calculation of non-GAAP net income and non-GAAP net income per diluted share for the periods shown below:
Net Income Reconciliation Three Months Ended
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June 30, 2012 July 2, 2011
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(unaudited)
(in thousands)
Net income on a GAAP basis $ 36,386 $ 26,908
Amortization of acquired intangibles 6,534 6,988
Stock-based compensation expense 10,361 10,341
Non-qualified deferred compensation expenses 2,278 1,186
Restructuring and other charges 43 751
Shareholder litigation costs - 1,106
Executive and other employee severance costs - 1,916
Integration and acquisition-related costs 3,627 1,005
Amortization of debt discount 5,124 6,566
Other income or expense related to
investments and non-qualified deferred
compensation plan assets* (2,220) (9,229)
Income tax effect of non-GAAP adjustments (9,245) (15,560)
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Net income on a non-GAAP basis $ 52,888 $ 31,978
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* Includes, as applicable, equity in losses or income from investments,
write-down of investments, gains or losses on sale of investments and gains
or losses on non-qualified deferred compensation plan assets recorded in
Other income (expense), net.
Diluted Net Income per Share Reconciliation Three Months Ended
----------------------------
June 30, 2012 July 2, 2011
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(unaudited)
(in thousands, except per share data)
Diluted net income per share on a GAAP basis $ 0.13 $ 0.10
Amortization of acquired intangibles 0.02 0.03
Stock-based compensation expense 0.04 0.04
Non-qualified deferred compensation expenses 0.01 0.01
Restructuring and other charges - -
Shareholder litigation costs - -
Executive and other employee severance costs - 0.01
Integration and acquisition-related costs 0.01 -
Amortization of debt discount 0.02 0.02
Other income or expense related to
investments and non-qualified deferred
compensation plan assets* (0.01) (0.03)
Income tax effect of non-GAAP adjustments (0.03) (0.06)
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Diluted net income per share on a non-GAAP
basis $ 0.19 $ 0.12
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Shares used in calculation of diluted net
income per share -- GAAP** 275,318 270,885
Shares used in calculation of diluted net
income per share -- non-GAAP** 275,318 270,885
* Includes, as applicable, equity in losses or income from investments,
write-down of investments, gains or losses on sale of investments and gains
or losses on non-qualified deferred compensation plan assets recorded in
Other income (expense), net.
** Shares used in the calculation of GAAP net income per share are expected
to be the same as shares used in the calculation of non-GAAP net income per
share, except when the company reports a GAAP net loss and non-GAAP net
income, or GAAP net income and a non-GAAP net loss.
