Synopsys Posts Financial Results for Second Quarter Fiscal Year 2021

 

Reconciliation of 2021 Targets
The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP targets for the periods indicated below.

 

GAAP to Non-GAAP Reconciliation of Third Quarter Fiscal Year 2021 Targets (1)

(in thousands, except per share amounts)











 Range for Three Months 



July 31, 2021



Low


High

Target GAAP expenses


$             807,000


$             825,000

Adjustments:





      Estimated impact of amortization of intangible assets


(19,000)


(22,000)

      Estimated impact of stock compensation


(81,000)


(86,000)

Target non-GAAP expenses


$             707,000


$             717,000
















Range for Three Months



July 31, 2021



Low


High

Target GAAP earnings per share


$                   1.30


$                   1.41

Adjustments:





      Estimated impact of amortization of intangible assets


0.14


0.12

      Estimated impact of stock compensation


0.55


0.51

      Estimated impact of tax adjustments


(0.24)


(0.24)

Target non-GAAP earnings per share


$                   1.75


$                   1.80






Shares used in non-GAAP calculation (midpoint of target range)


157,500


157,500











GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2021 Targets(1)

(in thousands, except per share amounts)











Range for Fiscal Year



October 31, 2021



Low


High

Target GAAP expenses


$          3,240,892


$          3,285,892

Adjustments:





      Estimated impact of amortization of intangible assets


(75,000)


(80,000)

      Estimated impact of stock compensation


(325,000)


(335,000)

      Acquisition-related costs


(5,892)


(5,892)

Target non-GAAP expenses


$          2,835,000


$          2,865,000
















Range for Fiscal Year



October 31, 2021



Low


High

Target GAAP earnings per share


$                   4.55


$                   4.72

Adjustments:





     Estimated impact of amortization of intangible assets


0.51


0.48

     Estimated impact of stock compensation


2.13


2.06

     Acquisition-related costs


0.04


0.04

     Estimated impact of tax adjustments


(0.85)


(0.85)

Target non-GAAP earnings per share


$                   6.38


$                   6.45






Shares used in non-GAAP calculation (midpoint of target range)


157,500


157,500






(1) Synopsys' third fiscal quarter and fiscal year will end on July 31, 2021 and October 30, 2021, respectively. For presentation purposes, we refer to the closest calendar month end. 


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