Reconciliation of 2021 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 Fourth Quarter Fiscal Year 2021 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Three Months | ||
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| October 31, 2021 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 924,000 |
| $ 952,000 |
Adjustments: |
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Amortization of intangible assets |
| (20,000) |
| (23,000) |
Stock compensation |
| (86,000) |
| (91,000) |
Restructuring charges |
| (13,000) |
| (23,000) |
Target non-GAAP expenses |
| $ 805,000 |
| $ 815,000 |
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| Range for Three Months | ||
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| October 31, 2021 | ||
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| Low |
| High |
Target GAAP earnings per share |
| $ 1.09 |
| $ 1.25 |
Adjustments: |
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Amortization of intangible assets |
| 0.15 |
| 0.13 |
Stock compensation |
| 0.58 |
| 0.55 |
Restructuring charges |
| 0.15 |
| 0.08 |
Tax adjustments |
| (0.22) |
| (0.21) |
Target non-GAAP earnings per share |
| $ 1.75 |
| $ 1.80 |
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Shares used in non-GAAP calculation (midpoint of target range) |
| 157,500 |
| 157,500 |
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GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2021 Targets(1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Fiscal Year | ||
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| October 31, 2021 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 3,430,837 |
| $ 3,458,837 |
Adjustments: |
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Amortization of intangible assets |
| (80,000) |
| (83,000) |
Stock compensation |
| (335,000) |
| (340,000) |
| Acquisition-related costs |
| (11,594) |
| (11,594) |
| Restructuring charges |
| (28,000) |
| (38,000) |
| Legal matters |
| 1,455 |
| 1,455 |
| Non-qualified deferred compensation plan |
| (62,698) |
| (62,698) |
| Target non-GAAP expenses |
| $ 2,915,000 |
| $ 2,925,000 |
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| Range for Fiscal Year | ||
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| October 31, 2021 | ||
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| Low |
| High |
| Target GAAP earnings per share |
| $ 4.63 |
| $ 4.79 |
| Adjustments: |
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| Amortization of intangible assets |
| 0.53 |
| 0.51 |
| Stock compensation |
| 2.16 |
| 2.13 |
| Acquisition-related costs |
| 0.07 |
| 0.07 |
| Restructuring charges |
| 0.25 |
| 0.18 |
| Legal matters |
| (0.01) |
| (0.01) |
| Tax adjustments |
| (0.85) |
| (0.84) |
| Target non-GAAP earnings per share |
| $ 6.78 |
| $ 6.83 |
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| Shares used in non-GAAP calculation (midpoint of target range) |
| 157,500 |
| 157,500 |
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| (1) Synopsys' fourth fiscal quarter and fiscal year will end on October 30, 2021. For presentation purposes, we refer to the closest calendar month end. |
