Synopsys Posts Financial Results for Second Quarter Fiscal Year 2023

 

Reconciliation of 2023 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 2023 Targets (1)

(in thousands, except per share amounts)











 Range for Three Months Ending



July 31, 2023



Low


High

Target GAAP expenses


$        1,143,000


$        1,163,000

Adjustments:





      Amortization of intangible assets


(25,000)


(28,000)

      Stock compensation


(148,000)


(155,000)

Target non-GAAP expenses


$           970,000


$           980,000
















Range for Three Months Ending



July 31, 2023



Low


High

Target GAAP earnings per diluted share attributed to Synopsys


$                 1.88


$                 1.99

Adjustments:





      Amortization of intangible assets


0.18


0.16

      Stock compensation


0.99


0.95

      Tax adjustments


(0.35)


(0.35)

Target non-GAAP earnings per diluted share attributed to
Synopsys


$                 2.70


$                 2.75






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


156,500


156,500

 

GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2023 Targets (1)

(in thousands, except per share amounts)









Range for Fiscal Year Ending



October 31, 2023



Low


High

Target GAAP expenses


$        4,520,305


$        4,565,305

Adjustments:





      Amortization of intangible assets


(100,000)


(105,000)

      Stock compensation


(580,000)


(590,000)

      Acquisition-related items


(5,306)


(5,306)

      Restructuring charges


(44,999)


(44,999)

Target non-GAAP expenses


$        3,790,000


$        3,820,000
















Range for Fiscal Year Ending



October 31, 2023



Low


High

Target GAAP earnings per diluted share attributed to
Synopsys


$                 7.44


$                 7.60

Adjustments:





      Amortization of intangible assets


0.67


0.64

      Stock compensation


3.77


3.71

      Acquisition-related items


0.03


0.03

      Restructuring charges


0.29


0.29

      Tax adjustments


(1.43)


(1.43)

Target non-GAAP earnings per diluted share attributed
to Synopsys


$               10.77


$               10.84






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


156,500


156,500






(1) Synopsys' third quarter of fiscal year 2023 and fiscal year 2023 will end on July 29, 2023 and October 28, 2023,
respectively. For presentation purposes, we refer to the closest calendar month end.


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