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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, | |||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||
| GAAP gross profit | $ | 427,425 | $ | 289,812 | $ | 1,088,239 | $ | 991,330 | ||||||||||
| Reconciling items to non-GAAP gross profit: | ||||||||||||||||||
| Equity plan-related compensation | 808 | 626 | 3,085 | 2,607 | ||||||||||||||
| Amortization of purchased technology | 1,928 | 1,807 | 7,328 | 7,303 | ||||||||||||||
| Non-GAAP gross profit | $ | 430,161 | $ | 292,245 | $ | 1,098,652 | $ | 1,001,240 | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||
| GAAP gross profit as a percent of total revenues | 89.4 | % | 85.9 | % | 84.9 | % | 83.9 | % | ||||||||||
| Non-GAAP adjustments detailed above | 0.6 | % | 0.8 | % | 0.8 | % | 0.9 | % | ||||||||||
| Non-GAAP gross profit as a percent of total revenues | 90.0 | % | 86.7 | % | 85.7 | % | 84.8 | % | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||
| GAAP operating expenses | $ | 274,843 | $ | 210,358 | $ | 885,158 | $ | 854,585 | ||||||||||
| Reconciling items to non-GAAP operating expenses: | ||||||||||||||||||
| Equity plan-related compensation | (12,467 | ) | (8,982 | ) | (43,708 | ) | (37,890 | ) | ||||||||||
| Amortization of other identified intangible assets | (1,492 | ) | (1,899 | ) | (6,028 | ) | (8,716 | ) | ||||||||||
| Special charges | (9,833 | ) | (1,087 | ) | (15,769 | ) | (45,081 | ) | ||||||||||
| Non-GAAP operating expenses | $ | 251,051 | $ | 198,390 | $ | 819,653 | $ | 762,898 | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||
| GAAP operating income | $ | 152,582 | $ | 79,454 | $ | 203,081 | $ | 136,745 | ||||||||||
| Reconciling items to non-GAAP operating income: | ||||||||||||||||||
| Equity plan-related compensation | 13,275 | 9,608 | 46,793 | 40,497 | ||||||||||||||
| Amortization of purchased technology | 1,928 | 1,807 | 7,328 | 7,303 | ||||||||||||||
| Amortization of other identified intangible assets | 1,492 | 1,899 | 6,028 | 8,716 | ||||||||||||||
| Special charges | 9,833 | 1,087 | 15,769 | 45,081 | ||||||||||||||
| Non-GAAP operating income | $ | 179,110 | $ | 93,855 | $ | 278,999 | $ | 238,342 | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||
| GAAP operating income as a percent of total revenues | 31.9 | % | 23.6 | % | 15.8 | % | 11.6 | % | ||||||||||
| Non-GAAP adjustments detailed above | 5.6 | % | 4.2 | % | 6.0 | % | 8.6 | % | ||||||||||
| Non-GAAP operating income as a percent of total revenues | 37.5 | % | 27.8 | % | 21.8 | % | 20.2 | % | ||||||||||
| Three Months Ended January 31, | Twelve Months Ended January 31, | |||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||
| GAAP other income, net and interest expense | $ | (5,049 | ) | $ | (4,284 | ) | $ | (18,225 | ) | $ | (17,816 | ) | ||||||
| Reconciling items to non-GAAP other income, net | ||||||||||||||||||
| and interest expense: | ||||||||||||||||||
| Equity in (earnings) losses of unconsolidated entities | (81 | ) | (39 | ) | - | (6 | ) | |||||||||||
| Amortization of original issuance debt discount | 1,818 | 1,693 | 7,081 | 6,593 | ||||||||||||||
| Non-GAAP other income, net and interest expense | $ | (3,312 | ) | $ | (2,630 | ) | $ | (11,144 | ) | $ |
(11,229 |
) | ||||||
Mentor Graphics Reports Fiscal Q4 Results
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