Synopsys Posts Financial Results for First Quarter Fiscal Year 2024

 

GAAP to Non-GAAP Tax Rate Reconciliation (1)

(unaudited)

   
 

Three Months Ended

 

January 31, 2024

   

GAAP effective tax rate

4.1 %

Income tax effect of above non-GAAP adjustments

10.9 %

Non-GAAP effective tax rate

15.0 %

   

(1) Synopsys' first quarter of fiscal year 2024 ended on February 3, 2024. For presentation

purposes, we refer to the closest calendar month end. The first quarter of fiscal year 2024

included one extra week. 

Reconciliation of 2024 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 Second Quarter Fiscal Year 2024 Targets (1)

(in thousands, except per share amounts)

         
     
   

 Range for Three Months Ending

   

April 30, 2024

   

Low

 

High

Target GAAP expenses

 

$         1,206,000

 

$         1,226,000

Adjustments:

       

      Amortization of acquired intangible assets

 

(26,000)

 

(29,000)

      Stock-based compensation

 

(175,000)

 

(182,000)

Target non-GAAP expenses

 

$         1,005,000

 

$         1,015,000

         
     
   

Range for Three Months Ending

   

April 30, 2024

   

Low

 

High

Target GAAP earnings per diluted share attributed to Synopsys

 

$                  2.05

 

$                  2.16

Adjustments:

       

      Amortization of acquired intangible assets

 

0.19

 

0.17

      Stock-based compensation

 

1.17

 

1.12

      Tax adjustments

 

(0.32)

 

(0.31)

Target non-GAAP earnings per diluted share attributed to Synopsys

 

$                  3.09

 

$                  3.14

         

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

 

156,000

 

156,000


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