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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 April 4, 2015 | ||||||||||||
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(In thousands) | ||||||||||||
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(Unaudited) | ||||||||||||
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Three Months Ended |
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April 4, 2015 |
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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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$ 383,637 |
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$ - |
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$ 383,637 | ||||
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Services |
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27,729 |
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- |
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27,729 | ||||
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Total revenue |
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411,366 |
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- |
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411,366 | |||
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Costs and expenses: |
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Cost of product and maintenance |
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42,059 |
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(10,746) |
(A) |
31,313 | |||||
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Cost of services |
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18,526 |
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(838) |
(A) |
17,688 | ||||
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Marketing and sales |
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100,268 |
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(5,756) |
(A) |
94,512 | ||||
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Research and development |
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162,996 |
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(15,153) |
(A) |
147,843 | |||||
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General and administrative |
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27,642 |
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(3,818) |
(A) |
23,824 | |||||
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Amortization of acquired intangibles |
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6,231 |
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(6,231) |
(A) |
- | |||||
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Restructuring and other charges |
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4,359 |
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(4,359) |
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- | |||||
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Total costs and expenses |
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362,081 |
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(46,901) |
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315,180 | ||||
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Income from operations |
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49,285 |
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46,901 |
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96,186 | |||
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Interest expense |
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(11,754) |
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5,026 |
(B) |
(6,728) | ||||
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Other income, net |
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4,781 |
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(1,263) |
(C) |
3,518 | ||||
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Income before provision for income taxes |
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42,312 |
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50,664 |
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92,976 | |||
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Provision for income taxes |
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6,053 |
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15,331 |
(D) |
21,384 | |||||
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Net income |
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$ 36,259 |
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$ 35,333 |
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$ 71,592 | ||
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Notes: | |||||||||
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(A) For the three months ended April 4, 2015, adjustments to GAAP are as follows for the line items specified: | |||||||||
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Amortization of acquired intangibles |
Stock-based compensation expense |
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Non-qualified deferred compensation expenses |
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Acquisition and integration- related costs |
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Total adjustments |
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Cost of product and maintenance |
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$ 10,173 |
$ 569 |
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$ 4 |
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$ - |
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$ 10,746 | |||
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Cost of services |
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- |
832 |
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6 |
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- |
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838 | |||
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Marketing and sales |
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- |
5,447 |
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34 |
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275 |
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5,756 | |||
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Research and development |
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- |
11,377 |
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362 |
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3,414 |
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15,153 | |||
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General and administrative |
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- |
3,636 |
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121 |
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61 |
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3,818 | |||
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Amortization of acquired intangibles |
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6,231 |
- |
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- |
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- |
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6,231 | |||
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Total |
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$ 16,404 |
$ 21,861 |
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$ 527 |
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$ 3,750 |
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$ 42,542 | ||
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(B) Amortization of debt discount related to convertible notes | ||||||||
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(C) Other income or expense related to investments and non-qualified deferred compensation plan assets | ||||||||
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(D) Income tax effect of non-GAAP adjustments |
