|
Cadence Design Systems, Inc. | ||||||||
|
Supplemental Reconciliation of Certain GAAP to Non-GAAP Measures | ||||||||
|
For the Three Months Ended June 28, 2014 | ||||||||
|
(In thousands) | ||||||||
|
(Unaudited) | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended | ||||
|
|
|
|
|
|
|
June 28, 2014 |
|
|
|
|
|
|
|
GAAP |
|
Adjustments |
|
Non-GAAP* |
|
|
|
|
|
|
|
|
|
|
|
Revenue: |
|
|
|
|
| |||
|
|
Product and maintenance |
$ 354,468 |
|
$ - |
|
$ 354,468 | ||
|
|
Services |
24,320 |
|
- |
|
24,320 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
378,788 |
|
- |
|
378,788 | |
|
|
|
|
|
|
|
|
|
|
|
Costs and expenses: |
|
|
|
|
| |||
|
|
Cost of product and maintenance |
37,707 |
|
(9,504) |
(E) |
28,203 | ||
|
|
Cost of services |
16,706 |
|
(1,384) |
(E) |
15,322 | ||
|
|
Marketing and sales |
98,611 |
|
(6,992) |
(E) |
91,619 | ||
|
|
Research and development |
152,672 |
|
(21,177) |
(E) |
131,495 | ||
|
|
General and administrative |
32,042 |
|
(8,824) |
(E) |
23,218 | ||
|
|
Amortization of acquired intangibles |
5,579 |
|
(5,579) |
(E) |
- | ||
|
|
Restructuring and other charges (credits) |
(26) |
|
26 |
|
- | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
Total costs and expenses |
343,291 |
|
(53,434) |
|
289,857 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations |
35,497 |
|
53,434 |
|
88,931 |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
(7,369) |
|
4,241 |
(F) |
(3,128) | ||
|
|
Other income, net |
1,635 |
|
(1,480) |
(G) |
155 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before provision for income taxes |
29,763 |
|
56,195 |
|
85,958 |
|
|
|
|
|
|
|
|
|
|
|
|
Provision for income taxes |
6,500 |
|
15,849 |
(H) |
22,349 | ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ 23,263 |
|
$ 40,346 |
|
$ 63,609 |
|
|
|
|
|
|
|
|
|
|
|
* The non-GAAP measures presented in the table above should not be considered a substitute for financial results and measures determined or calculated in accordance with GAAP. | |||||||||||
|
| |||||||||||
|
Notes: |
|
|
|
|
|
|
|
|
|
| |
|
(E) For the three months ended June 28, 2014, adjustments to GAAP are as follows for the line items specified: | |||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of
|
Stock-based
|
|
Non-qualified
|
|
Acquisition and
|
|
Special
|
|
Total
|
|
Cost of product and maintenance |
$ 8,613 |
$ 485 |
|
$ 5 |
|
$ - |
|
$ 401 |
|
$ 9,504 | |
|
Cost of services |
- |
709 |
|
8 |
|
- |
|
667 |
|
1,384 | |
|
Marketing and sales |
- |
4,560 |
|
20 |
|
499 |
|
1,913 |
|
6,992 | |
|
Research and development |
- |
9,701 |
|
642 |
|
4,980 |
|
5,854 |
|
21,177 | |
|
General and administrative |
- |
3,622 |
|
372 |
|
3,308 |
|
1,522 |
|
8,824 | |
|
Amortization of acquired intangibles |
5,579 |
- |
|
- |
|
- |
|
- |
|
5,579 | |
|
|
Total |
$ 14,192 |
$ 19,077 |
|
$ 1,047 |
|
$ 8,787 |
|
$ 10,357 |
|
$ 53,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(F) Amortization of debt discount related to convertible notes | |||||||||||
|
(G) Other income or expense related to investments and non-qualified deferred compensation plan assets | |||||||||||
|
(H) Income tax effect of non-GAAP adjustments | |||||||||||
|
(I) Comprised of costs related to a voluntary retirement program | |||||||||||
