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MENTOR GRAPHICS CORPORATION |
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UNAUDITED RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES |
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| (In thousands, except percentages) | ||||||||||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP gross profit | $ | 388,666 | $ | 345,003 | $ | 1,039,820 | $ | 969,266 | ||||||||||
| Reconciling items to non-GAAP gross profit: | ||||||||||||||||||
| Equity plan-related compensation | 617 | 554 | 2,304 | 1,992 | ||||||||||||||
| Amortization of purchased technology | 1,847 | 950 | 7,099 | 3,598 | ||||||||||||||
| Non-GAAP gross profit | $ | 391,130 | $ | 346,507 | $ | 1,049,223 | $ | 974,856 | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP gross profit as a percent of total revenues | 88.5 | % | 86.0 | % | 83.6 | % | 83.8 | % | ||||||||||
| Non-GAAP adjustments detailed above | 0.6 | % | 0.4 | % | 0.7 | % | 0.5 | % | ||||||||||
| Non-GAAP gross profit as a percent of total revenues | 89.1 | % | 86.4 | % | 84.3 | % | 84.3 | % | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP operating expenses | $ | 249,134 | $ | 227,806 | $ | 852,009 | $ | 786,226 | ||||||||||
| Reconciling items to non-GAAP operating expenses: | ||||||||||||||||||
| Equity plan-related compensation | (8,799 | ) | (7,527 | ) | (33,503 | ) | (27,358 | ) | ||||||||||
| Amortization of Frontline purchased technology and other | ||||||||||||||||||
| identified intangible assets | - | (231 | ) | (116 | ) | (1,430 | ) | |||||||||||
| Amortization of other identified intangible assets | (2,157 | ) | (1,580 | ) | (8,166 | ) | (6,230 | ) | ||||||||||
| Special charges | (4,081 | ) | (4,359 | ) | (23,490 | ) | (16,929 | ) | ||||||||||
| Non-GAAP operating expenses | $ | 234,097 | $ | 214,109 | $ | 786,734 | $ | 734,279 | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP operating income | $ | 139,532 | $ | 117,197 | $ | 187,811 | $ | 183,040 | ||||||||||
| Reconciling items to non-GAAP operating income: | ||||||||||||||||||
| Equity plan-related compensation | 9,416 | 8,081 | 35,807 | 29,350 | ||||||||||||||
| Amortization of purchased technology | 1,847 | 950 | 7,099 | 3,598 | ||||||||||||||
| Amortization of Frontline purchased technology and other | ||||||||||||||||||
| identified intangible assets | - | 231 | 116 | 1,430 | ||||||||||||||
| Amortization of other identified intangible assets | 2,157 | 1,580 | 8,166 | 6,230 | ||||||||||||||
| Special charges | 4,081 | 4,359 | 23,490 | 16,929 | ||||||||||||||
| Non-GAAP operating income | $ | 157,033 | $ | 132,398 | $ | 262,489 | $ | 240,577 | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP operating income as a percent of total revenues | 31.8 | % | 29.2 | % | 15.1 | % | 15.8 | % | ||||||||||
| Non-GAAP adjustments detailed above | 4.0 | % | 3.8 | % | 6.0 | % | 5.0 | % | ||||||||||
| Non-GAAP operating income as a percent of total revenues | 35.8 | % | 33.0 | % | 21.1 | % | 20.8 | % | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||||
| GAAP other income (expense), net and interest expense | $ | (4,984 | ) | $ | (4,444 | ) | $ | (20,053 | ) | $ | (19,972 | ) | ||||||
| Reconciling items to non-GAAP other income (expense), net | ||||||||||||||||||
| and interest expense: | ||||||||||||||||||
| Equity in earnings of unconsolidated entities | 38 | 7 | 184 | (119 | ) | |||||||||||||
| Amortization of original issuance debt discount | 1,576 | 1,467 | 6,139 | 5,715 | ||||||||||||||
| Non-GAAP other income (expense), net and interest expense | $ | (3,370 | ) | $ | (2,970 | ) | $ | (13,730 | ) | $ | (14,376 | ) | ||||||
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