| ANSYS, INC. AND SUBSIDIARIES | |||||||||||||||||||||||||
| ASC 605 Reconciliation of Non-GAAP Measures | |||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||
| Nine Months Ended | |||||||||||||||||||||||||
| September 30, 2018 | September 30, 2017 | ||||||||||||||||||||||||
| (in thousands, except percentages and per share data) |
GAAP
Results |
Adjustments
|
Non-GAAP
Results |
GAAP
Results |
Adjustments
|
Non-
GAAP Results | |||||||||||||||||||
| Total revenue | $ | 880,551 | $ | 11,436 | (1 | ) | $ | 891,987 | $ | 792,914 | $ | 1,748 | (4 | ) | $ | 794,662 | |||||||||
| Operating income | 298,985 | 110,335 | (2 | ) | 409,320 | 290,049 | 89,985 | (5 | ) | 380,034 | |||||||||||||||
| Operating profit margin | 34.0 | % | 45.9 | % | 36.6 | % | 47.8 | % | |||||||||||||||||
| Net income | $ | 268,281 | $ | 68,827 | (3 | ) | $ | 337,108 | $ | 206,666 | $ | 48,480 | (6 | ) | $ | 255,146 | |||||||||
| Earnings per share – diluted: | |||||||||||||||||||||||||
| Earnings per share | $ | 3.12 | $ | 3.92 | $ | 2.38 | $ | 2.94 | |||||||||||||||||
| Weighted average shares | 86,060 | 86,060 | 86,902 | 86,902 | |||||||||||||||||||||
| (1) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.
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| (2) Amount represents $58.9 million of stock-based compensation expense, $3.8 million of excess payroll taxes related to stock-based awards, $33.8 million of amortization expense associated with intangible assets acquired in business combinations, $2.4 million of transaction expenses related to business combinations and the $11.4 million adjustment to revenue as reflected in (1) above. | |||||||||||||||||||||||||
| (3) Amount represents the impact of the adjustments to operating income referred to in (2) above, decreased for the related income tax impact of $42.3 million and rabbi trust income of $0.1 million, and increased for a measurement-period adjustment related to the Tax Cuts and Jobs Act of $0.9 million.
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| (4) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.
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| (5) Amount represents $39.4 million of stock-based compensation expense, $36.4 million of amortization expense associated with intangible assets acquired in business combinations, $11.7 million of restructuring charges, $0.7 million of transaction expenses related to business combinations and the $1.7 million adjustment to revenue as reflected in (4) above. | |||||||||||||||||||||||||
| (6) Amount represents the impact of the adjustments to operating income referred to in (5) above, adjusted for the related income tax impact of $41.4 million and rabbi trust income of $0.1 million.
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ANSYS Announces Exceptional Q3 Results, With Double-Digit Growth in Revenue, EPS, ACV and Operating Cash Flow
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