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 Fourth Quarter Fiscal Year 2016 Targets | |||
|
(in thousands, except per share amounts) | |||
|
|
|
|
|
|
|
Range for Three Months | ||
|
|
Ending October 31, 2016 (1) | ||
|
|
Low |
|
High |
|
Target GAAP expenses |
$ 537,000 |
|
$ 556,000 |
|
Adjustments: |
|
|
|
|
Estimated impact of amortization of intangible assets |
(29,000) |
|
(34,000) |
|
Estimated impact of stock compensation |
(25,000) |
|
(29,000) |
|
Target non-GAAP expenses |
$ 483,000 |
|
$ 493,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Range for Three Months | ||
|
|
Ending October 31, 2016 (1) | ||
|
|
Low |
|
High |
|
Target GAAP earnings per share |
$ 0.46 |
|
$ 0.55 |
|
Adjustments: |
|
|
|
|
Estimated impact of amortization of intangible assets |
0.22 |
|
0.19 |
|
Estimated impact of stock compensation |
0.19 |
|
0.16 |
|
Estimated impact of tax adjustments (2) |
(0.12) |
|
(0.12) |
|
Target non-GAAP earnings per share |
$ 0.75 |
|
$ 0.78 |
|
|
|
|
|
|
Shares used in non-GAAP calculation (midpoint of target range) |
153,500 |
|
153,500 |
|
|
|
|
|
|
|
|
|
|
|
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 |
$ 1.72 |
|
$ 1.81 |
|
Adjustments: |
|
|
|
|
Estimated impact of amortization of intangible assets |
$ 0.87 |
|
$ 0.84 |
|
Estimated impact of stock compensation |
$ 0.66 |
|
$ 0.63 |
|
Acquisition-related costs |
$ 0.05 |
|
$ 0.05 |
|
Estimated impact of restructuring |
$ 0.02 |
|
$ 0.02 |
|
Estimated impact of tax adjustments (2) |
$ (0.32) |
|
$ (0.32) |
|
Target non-GAAP earnings per share |
$ 3.00 |
|
$ 3.03 |
|
|
|
|
|
|
Shares used in non-GAAP calculation (midpoint of target range) |
154,500 |
|
154,500 |
|
|
|
|
|
|
(1) Synopsys' fourth quarter and fiscal year end on October 29, 2016. 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. | |||
