Additional details reconciling the selected GAAP financial measure to the selected non-GAAP financial measure may be found in the "Schedule Reconciling Selected Non-GAAP Financial Measures" and "Notes on Non-GAAP Financial Measures."
|
Schedule Reconciling Selected Non-GAAP Financial Measures | ||||||||||||||||||||
|
(unaudited, in millions, except for per share amounts) | ||||||||||||||||||||
|
| ||||||||||||||||||||
|
|
|
Quarter Ended |
|
Fiscal Year Ended | ||||||||||||||||
|
|
|
Sep 27,
|
|
Jun 28,
|
|
Sep 28,
|
|
Sep 27,
|
|
Sep 28,
| ||||||||||
|
GAAP gross profit |
|
$ |
174.8 |
|
|
$ |
172.1 |
|
|
$ |
171.0 |
|
|
$ |
684.3 |
|
|
$ |
611.5 |
|
|
Manufacturing profit in acquired inventory (1) |
|
11.0 |
|
|
8.6 |
|
|
— |
|
|
22.0 |
|
|
16.6 |
| |||||
|
Inventory write-offs from restructuring activities (2) |
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
7.9 |
| |||||
|
Non-GAAP gross profit |
|
$ |
185.8 |
|
|
$ |
180.7 |
|
|
$ |
171.0 |
|
|
$ |
706.3 |
|
|
$ |
636.0 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
GAAP operating income |
|
$ |
32.3 |
|
|
$ |
25.2 |
|
|
$ |
33.4 |
|
|
$ |
122.6 |
|
|
$ |
54.2 |
|
|
Adjustments to GAAP gross profit |
|
11.0 |
|
|
8.6 |
|
|
— |
|
|
22.0 |
|
|
24.5 |
| |||||
|
Restructuring, severance and other special charges (2) |
|
1.4 |
|
|
1.7 |
|
|
1.8 |
|
|
9.9 |
|
|
19.9 |
| |||||
|
Facility consolidation and equipment charges (2) |
|
— |
|
|
1.5 |
|
|
2.7 |
|
|
6.3 |
|
|
13.9 |
| |||||
|
Amortization of intangible assets (3) |
|
25.4 |
|
|
24.8 |
|
|
23.1 |
|
|
96.5 |
|
|
92.8 |
| |||||
|
Stock based compensation (4) |
|
14.0 |
|
|
13.7 |
|
|
11.3 |
|
|
50.1 |
|
|
44.1 |
| |||||
|
Acquisition related costs (5) |
|
0.7 |
|
|
3.3 |
|
|
0.5 |
|
|
6.2 |
|
|
3.0 |
| |||||
|
Non-GAAP operating income |
|
$ |
84.8 |
|
|
$ |
78.8 |
|
|
$ |
72.8 |
|
|
$ |
313.6 |
|
|
$ |
252.4 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
GAAP net income |
|
$ |
25.3 |
|
|
$ |
14.7 |
|
|
$ |
32.8 |
|
|
$ |
84.6 |
|
|
$ |
23.1 |
|
|
Adjustments to GAAP gross profit and operating income |
|
52.5 |
|
|
53.6 |
|
|
39.4 |
|
|
191.0 |
|
|
198.2 |
| |||||
|
Gain from facility sale (2) |
|
(3.9) |
|
|
— |
|
|
— |
|
|
(3.9) |
|
|
— |
| |||||
|
Credit facility issuance and derivative fair value costs (6) |
|
0.7 |
|
|
0.5 |
|
|
0.1 |
|
|
1.6 |
|
|
0.9 |
| |||||
|
Income tax effect on non-GAAP adjustments (7) |
|
(4.3) |
|
|
(3.5) |
|
|
(10.9) |
|
|
(12.0) |
|
|
(15.4) |
| |||||
|
Non-GAAP net income |
|
$ |
70.3 |
|
|
$ |
65.3 |
|
|
$ |
61.4 |
|
|
$ |
261.3 |
|
|
$ |
206.8 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
GAAP diluted earnings per share |
|
$ |
0.26 |
|
|
$ |
0.15 |
|
|
$ |
0.34 |
|
|
$ |
0.88 |
|
|
$ |
0.24 |
|
|
Effect of non-GAAP adjustments on diluted earnings per share |
|
$ |
0.47 |
|
|
$ |
0.53 |
|
|
$ |
0.30 |
|
|
$ |
1.85 |
|
|
$ |
1.95 |
|
|
Non-GAAP diluted earnings per share |
|
$ |
0.73 |
|
|
$ |
0.68 |
|
|
$ |
0.64 |
|
|
$ |
2.73 |
|
|
$ |
2.19 |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Weighted-average diluted shares used in calculating non-GAAP diluted earnings per share |
|
96.5 |
|
|
96.4 |
|
|
95.6 |
|
|
95.9 |
|
|
94.5 |
| |||||
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||
|
Operating cash flow |
|
$ |
77.9 |
|
|
$ |
55.1 |
|
|
$ |
59.6 |
|
|
$ |
269.4 |
|
|
$ |
206.7 |
|
|
Payments for capital expenditures |
|
(9.2) |
|
|
(10.5) |
|
|
(10.6) |
|
|
(44.1) |
|
|
(39.4) |
| |||||
|
Free cash flow (8) |
|
$ |
68.7 |
|
|
$ |
44.6 |
|
|
$ |
49.0 |
|
|
$ |
225.3 |
|
|
$ |
167.3 |
|
