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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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| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| GAAP gross profit | $ | 204,714 | $ | 234,799 | $ | 389,488 | $ | 457,891 | ||||||||
| Reconciling items to non-GAAP gross profit: | ||||||||||||||||
| Equity plan-related compensation | 781 | 608 | 1,492 | 1,316 | ||||||||||||
| Amortization of purchased technology | 1,787 | 1,794 | 3,572 | 3,652 | ||||||||||||
| Non-GAAP gross profit | $ | 207,282 | $ | 237,201 | $ | 394,552 | $ | 462,859 | ||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| GAAP gross profit as a percent of total revenues | 80.5 | % | 83.5 | % | 80.8 | % | 82.8 | % | ||||||||
| Non-GAAP adjustments detailed above | 1.0 | % | 0.9 | % | 1.1 | % | 0.9 | % | ||||||||
| Non-GAAP gross profit as a percent of total revenues | 81.5 | % | 84.4 | % | 81.9 | % | 83.7 | % | ||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| GAAP operating expenses | $ | 198,464 | $ | 195,533 | $ | 395,303 | $ | 426,288 | ||||||||
| Reconciling items to non-GAAP operating expenses: | ||||||||||||||||
| Equity plan-related compensation | (11,145 | ) | (9,978 | ) | (20,935 | ) | (19,548 | ) | ||||||||
| Amortization of other identified intangible assets | (1,520 | ) | (2,234 | ) | (3,074 | ) | (4,453 | ) | ||||||||
| Special charges | (1,445 | ) | (2,186 | ) | (4,436 | ) | (39,163 | ) | ||||||||
| Non-GAAP operating expenses | $ | 184,354 | $ | 181,135 | $ | 366,858 | $ | 363,124 | ||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| GAAP operating income (loss) | $ | 6,250 | $ | 39,266 | $ | (5,815 | ) | $ | 31,603 | |||||||
| Reconciling items to non-GAAP operating income: | ||||||||||||||||
| Equity plan-related compensation | 11,926 | 10,586 | 22,427 | 20,864 | ||||||||||||
| Amortization of purchased technology | 1,787 | 1,794 | 3,572 | 3,652 | ||||||||||||
| Amortization of other identified intangible assets | 1,520 | 2,234 | 3,074 | 4,453 | ||||||||||||
| Special charges | 1,445 | 2,186 | 4,436 | 39,163 | ||||||||||||
| Non-GAAP operating income | $ | 22,928 | $ | 56,066 | $ | 27,694 | $ | 99,735 | ||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| GAAP operating income (loss) as a percent of total revenues | 2.5 | % | 14.0 | % | (1.2 | %) | 5.7 | % | ||||||||
| Non-GAAP adjustments detailed above | 6.5 | % | 5.9 | % | 6.9 | % | 12.3 | % | ||||||||
| Non-GAAP operating income as a percent of total revenues | 9.0 | % | 19.9 | % | 5.7 | % | 18.0 | % | ||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||||||||
| GAAP other income, net and interest expense | $ | (5,052 | ) | $ | (4,585 | ) | $ | (8,301 | ) | $ | (8,937 | ) | ||||
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Reconciling items to non-GAAP other income, net and interest expense: |
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| Equity in losses (earnings) of unconsolidated entities | 43 | (14 | ) | 45 | (39 | ) | ||||||||||
| Amortization of original issuance debt discount | 1,754 | 1,633 | 3,477 | 3,237 | ||||||||||||
| Non-GAAP other income, net and interest expense | $ | (3,255 | ) | $ | (2,966 | ) | $ | (4,779 | ) | $ | (5,739 | ) | ||||
Mentor Graphics Reports Fiscal Second Quarter Results
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