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 First Quarter Fiscal Year 2020 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Three Months | ||
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| Ending January 31, 2020 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 715,000 |
| $ 744,000 |
Adjustments: |
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|
|
|
Estimated impact of amortization of intangible assets |
| (22,000) |
| (25,000) |
Estimated impact of stock compensation |
| (49,000) |
| (52,000) |
Estimated impact of restructuring charges |
| (9,000) |
| (12,000) |
Target non-GAAP expenses |
| $ 635,000 |
| $ 655,000 |
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| Range for Three Months | ||
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| Ending January 31, 2020 | ||
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| Low |
| High |
Target GAAP earnings per share |
| $ 0.43 |
| $ 0.54 |
Adjustments: |
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|
|
|
Estimated impact of amortization of intangible assets |
| 0.16 |
| 0.14 |
Estimated impact of stock compensation |
| 0.34 |
| 0.32 |
Estimated impact of restructuring charges |
| 0.08 |
| 0.06 |
Estimated impact of tax adjustments |
| (0.12) |
| (0.12) |
Target non-GAAP earnings per share |
| $ 0.89 |
| $ 0.94 |
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Shares used in non-GAAP calculation (midpoint of target range) |
| 154,500 |
| 154,500 |
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GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2020 Targets(1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Fiscal Year | ||
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| October 31, 2020 | ||
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|
| Low |
| High |
| Target GAAP expenses |
| $ 2,934,000 |
| $ 2,983,000 |
| Adjustments: |
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|
|
|
| Estimated impact of amortization of intangible assets |
| (83,000) |
| (88,000) |
| Estimated impact of stock compensation |
| (212,000) |
| (217,000) |
| Estimated impact of restructuring charges |
| (9,000) |
| (18,000) |
| Target non-GAAP expenses |
| $ 2,630,000 |
| $ 2,660,000 |
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| Range for Fiscal Year | ||
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| October 31, 2020 | ||
|
|
| Low |
| High |
| Target GAAP earnings per share |
| $ 3.72 |
| $ 3.90 |
| Adjustments: |
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|
|
|
| Estimated impact of amortization of intangible assets |
| 0.57 |
| 0.54 |
| Estimated impact of stock compensation |
| 1.40 |
| 1.37 |
| Estimated impact of restructuring charges |
| 0.12 |
| 0.06 |
| Impact of tax adjustments |
| (0.63) |
| (0.62) |
| Target non-GAAP earnings per share |
| $ 5.18 |
| $ 5.25 |
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| Shares used in non-GAAP calculation (midpoint of target range) |
| 154,500 |
| 154,500 |
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| (1) Synopsys' first fiscal quarter and fiscal year will end on February 1, 2020 and October 31, 2020, respectively. For presentation purposes, we refer to the closest calendar month end. |
