Reconciliation of 2023 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 2023 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Three Months Ending | ||
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| April 30, 2023 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 1,085,000 |
| $ 1,105,000 |
Adjustments: |
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Amortization of intangible assets |
| (24,000) |
| (27,000) |
Stock compensation |
| (144,000) |
| (151,000) |
Target non-GAAP expenses |
| $ 917,000 |
| $ 927,000 |
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| Range for Three Months Ending | ||
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| April 30, 2023 | ||
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| Low |
| High |
Target GAAP earnings per diluted share |
| $ 1.62 |
| $ 1.72 |
Adjustments: |
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Amortization of intangible assets |
| 0.17 |
| 0.15 |
Stock compensation |
| 0.96 |
| 0.92 |
Tax adjustments |
| (0.30) |
| (0.29) |
Target non-GAAP earnings per diluted share |
| $ 2.45 |
| $ 2.50 |
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Shares used in non-GAAP calculation (midpoint of target range) |
| 156,500 |
| 156,500 |
GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2023 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Fiscal Year Ending | ||
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| October 31, 2023 | ||
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| Low |
| High |
| Target GAAP expenses |
| $ 4,544,454 |
| $ 4,591,454 |
| Adjustments: |
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| Amortization of intangible assets |
| (98,000) |
| (103,000) |
| Stock compensation |
| (593,000) |
| (605,000) |
| Acquisition-related items |
| (2,595) |
| (2,595) |
| Restructuring charges |
| (40,859) |
| (40,859) |
| Target non-GAAP expenses |
| $ 3,810,000 |
| $ 3,840,000 |
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| Range for Fiscal Year Ending | ||
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| October 31, 2023 | ||
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| Low |
| High |
| Target GAAP earnings per diluted share |
| $ 7.12 |
| $ 7.30 |
| Adjustments: |
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| Amortization of intangible assets |
| 0.66 |
| 0.63 |
| Stock compensation |
| 3.87 |
| 3.79 |
| Acquisition-related items |
| 0.02 |
| 0.02 |
| Restructuring charges |
| 0.26 |
| 0.26 |
| Tax adjustments |
| (1.40) |
| (1.40) |
| Target non-GAAP earnings per diluted share |
| $ 10.53 |
| $ 10.60 |
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| Shares used in non-GAAP calculation (midpoint of
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| 156,500 |
| 156,500 |
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| (1) Synopsys' second quarter of fiscal year 2023 and fiscal year 2023 will end on April 29, 2023 and October 28, 2023,
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