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Cadence Design Systems, Inc. | ||||||||||||
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Supplemental Reconciliation of Certain GAAP to Non-GAAP Measures | ||||||||||||
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For the Three Months Ended September 28, 2013 | ||||||||||||
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(In thousands) | ||||||||||||
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(Unaudited) | ||||||||||||
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Three Months Ended |
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September 28, 2013 |
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GAAP |
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Adjustments |
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Non-GAAP |
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Revenue: |
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Product and maintenance |
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$ 341,601 |
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$ - |
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$ 341,601 |
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Services |
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25,046 |
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- |
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25,046 |
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Total revenue |
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366,647 |
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- |
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366,647 |
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Costs and expenses: |
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Cost of product and maintenance |
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32,546 |
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(8,339) |
(F) |
24,207 |
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Cost of services |
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17,190 |
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(662) |
(F) |
16,528 |
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Marketing and sales |
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98,094 |
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(5,655) |
(F) |
92,439 |
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Research and development |
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138,078 |
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(16,713) |
(F) |
121,365 |
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General and administrative |
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27,582 |
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(4,055) |
(F) |
23,527 |
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Amortization of acquired intangibles |
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5,141 |
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(5,141) |
(F) |
- |
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Restructuring and other charges |
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86 |
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(86) |
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- |
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Total costs and expenses |
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318,717 |
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(40,651) |
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278,066 |
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Income from operations |
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47,930 |
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40,651 |
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88,581 |
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Interest expense |
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(9,583) |
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5,693 |
(G) |
(3,890) |
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Other income, net |
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2,535 |
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(1,544) |
(H) |
991 |
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Income before provision for income taxes |
40,882 |
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44,800 |
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85,682 |
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Provision for income taxes |
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2,382 |
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19,895 |
(I) |
22,277 |
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Net income |
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$ 38,500 |
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$ 24,905 |
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$ 63,405 |
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Notes: | ||||||||||||||
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(F) For the three months ended September 28, 2013, adjustments to GAAP are as follows for the line items specified: | ||||||||||||||
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Amortization and
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Stock-based
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Non-qualified
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Acquisition and
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Special charges
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Total
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Cost of product and maintenance |
$ 7,886 |
$ 438 |
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$ 15 |
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$ - |
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$ - |
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$ 8,339 | ||||
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Cost of services |
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- |
641 |
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21 |
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- |
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- |
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662 | |||
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Marketing and sales |
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- |
4,594 |
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3 |
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578 |
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480 |
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5,655 | |||
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Research and development |
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- |
9,356 |
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60 |
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7,297 |
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- |
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16,713 | |||
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General and administrative |
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- |
3,537 |
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87 |
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166 |
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265 |
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4,055 | |||
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Amortization of acquired intangibles |
5,141 |
- |
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- |
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- |
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- |
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5,141 | ||||
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Total |
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$ 13,027 |
$ 18,566 |
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$ 186 |
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$ 8,041 |
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$ 745 |
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$ 40,565 | |
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(G) Amortization of debt discount related to convertible notes | ||||||||||||||
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(H) Other income or expense related to investments and non-qualified deferred compensation plan assets | ||||||||||||||
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(I) Income tax effect of non-GAAP adjustments | ||||||||||||||
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(J) Comprised of executive severance costs | ||||||||||||||
