Reconciliation of Target Non-GAAP Operating Results
The following tables reconcile the specific items excluded from GAAP in the calculation of target non-GAAP operating results for the periods indicated below.
|
GAAP to Non-GAAP Reconciliation of Second Quarter Fiscal Year 2016 Targets | |||
|
(in thousands, except per share amounts) | |||
|
|
|
|
|
|
|
Range for Three Months | ||
|
|
Ending April 30, 2016 (1) | ||
|
|
Low |
|
High |
|
Target GAAP expenses |
$ 503,000 |
|
$ 522,000 |
|
Adjustments: |
|
|
|
|
Estimated impact of amortization of intangible assets |
(31,000) |
|
(35,000) |
|
Estimated impact of stock compensation |
(22,000) |
|
(27,000) |
|
Target non-GAAP expenses |
$ 450,000 |
|
$ 460,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Range for Three Months | ||
|
|
Ending April 30, 2016 (1) | ||
|
|
Low |
|
High |
|
Target GAAP earnings per share |
$ 0.38 |
|
$ 0.47 |
|
Adjustments: |
|
|
|
|
Estimated impact of amortization of intangible assets |
0.23 |
|
0.20 |
|
Estimated impact of stock compensation |
0.17 |
|
0.14 |
|
Target non-GAAP earnings per share |
$ 0.78 |
|
$ 0.81 |
|
|
|
|
|
|
Shares used in non-GAAP calculation (midpoint of target range) |
154,500 |
|
154,500 |
|
|
|
|
|
|
|
|
|
|
|
GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2016 Targets | |||
|
|
|
|
|
|
|
Range for Fiscal Year | ||
|
|
Ending October 31, 2016 (1) | ||
|
|
Low |
|
High |
|
Target GAAP earnings per share |
$ 1.64 |
|
$ 1.79 |
|
Adjustments: |
|
|
|
|
Estimated impact of amortization of intangible assets |
0.85 |
|
0.80 |
|
Estimated impact of stock compensation |
0.69 |
|
0.64 |
|
Acquisition-related costs |
0.02 |
|
0.02 |
|
Estimated impact of restructuring |
0.01 |
|
0.01 |
|
Estimated impact of tax adjustments (2) |
(0.28) |
|
(0.26) |
|
Target non-GAAP earnings per share |
$ 2.93 |
|
$ 3.00 |
|
|
|
|
|
|
Shares used in non-GAAP calculation (midpoint of target range) |
154,500 |
|
154,500 |
|
|
|
|
|
|
(1) Synopsys' second quarter and fiscal year end on April 30, 2016 and October 29, 2016, respectively. For presentation purposes, we refer to the closest calendar month end. | |||
|
(2) Fiscal 2016 tax adjustments reflect the application of our normalized annual non-GAAP tax rate to non-GAAP pre-tax income. | |||
