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.
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GAAP to Non-GAAP Reconciliation of Third Quarter Fiscal Year 2016 Targets |
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(in thousands, except per share amounts) |
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Range for Three Months |
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Ending July 31, 2016 (1) |
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Low |
High |
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Target GAAP expenses |
$ 517,000 |
$ 536,000 |
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Adjustments: |
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Estimated impact of amortization of intangible assets |
(31,000) |
(35,000) |
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Estimated impact of stock compensation |
(23,000) |
(28,000) |
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Target non-GAAP expenses |
$ 463,000 |
$ 473,000 |
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Range for Three Months |
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Ending July 31, 2016 (1) |
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Low |
High |
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Target GAAP earnings per share |
$ 0.42 |
$ 0.51 |
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Adjustments: |
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Estimated impact of amortization of intangible assets |
0.23 |
0.20 |
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Estimated impact of stock compensation |
0.18 |
0.15 |
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Estimated impact of tax adjustments (2) |
(0.11) |
(0.11) |
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Target non-GAAP earnings per share |
$ 0.72 |
$ 0.75 |
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Shares used in non-GAAP calculation (midpoint of target range) |
154,500 |
154,500 |
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GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2016 Targets |
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Range for Fiscal Year |
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Ending October 31, 2016 (1) |
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Low |
High |
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Target GAAP earnings per share |
$ 1.67 |
$ 1.79 |
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Adjustments: |
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Estimated impact of amortization of intangible assets |
0.87 |
0.83 |
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Estimated impact of stock compensation |
0.66 |
0.62 |
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Acquisition-related costs |
0.03 |
0.03 |
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Estimated impact of restructuring |
0.02 |
0.02 |
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Estimated impact of tax adjustments (2) |
(0.30) |
(0.29) |
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Target non-GAAP earnings per share |
$ 2.95 |
$ 3.00 |
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Shares used in non-GAAP calculation (midpoint of target range) |
154,500 |
154,500 |
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(1) Synopsys' third quarter and fiscal year end on July 30, 2016 and October 29, 2016, respectively. For presentation purposes, we refer to the closest calendar month end. |
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(2) Fiscal 2016 tax adjustments reflect the application of our normalized annual non-GAAP tax rate to non-GAAP pre-tax income. |
