Reconciliation of Fourth Quarter and Fiscal Year 2017 Results
The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP net income (loss) and earnings (loss) per share for the periods indicated below.
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GAAP to Non-GAAP Reconciliation of Fourth Quarter and Fiscal Year 2017 Results | |||||||
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(unaudited and in thousands, except per share amounts) | |||||||
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Three Months Ended |
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Twelve Months Ended | ||||
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October 31, |
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October 31, | ||||
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2017 |
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2016 |
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2017 |
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2016 |
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GAAP net income (loss) |
$ (120,082) |
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$ 72,697 |
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$ 136,563 |
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$ 266,826 |
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Adjustments: |
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Amortization of intangible assets |
24,197 |
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29,067 |
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107,723 |
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129,625 |
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Stock compensation |
28,597 |
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25,540 |
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108,294 |
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97,583 |
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Acquisition-related costs |
3,627 |
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2,981 |
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9,880 |
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9,949 |
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Restructuring charges |
5,548 |
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6,646 |
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36,586 |
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9,633 |
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Legal matters |
(30,400) |
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- |
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7,600 |
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- |
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Tax impact of repatriation |
166,152 |
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- |
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166,152 |
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- |
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Tax adjustments |
28,872 |
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(17,872) |
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(43,721) |
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(46,781) |
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Non-GAAP net income |
$ 106,511 |
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$ 119,059 |
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$ 529,077 |
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$ 466,835 |
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Three Months Ended |
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Twelve Months Ended | ||||
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October 31, |
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October 31, | ||||
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2017 |
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2016 |
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2017 |
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2016 |
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GAAP net income (loss) per share (1) |
$ (0.80) |
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$ 0.47 |
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$ 0.88 |
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$1.73 |
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Adjustments: |
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Amortization of intangible assets |
0.16 |
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0.19 |
|
0.70 |
|
0.84 |
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Stock compensation |
0.20 |
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0.17 |
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0.70 |
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0.63 |
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Acquisition-related costs |
0.03 |
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0.02 |
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0.06 |
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0.07 |
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Restructuring charges |
0.04 |
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0.04 |
|
0.24 |
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0.06 |
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Legal matters |
(0.20) |
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- |
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0.05 |
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- |
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Tax impact of repatriation |
1.07 |
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- |
|
1.07 |
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- |
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Tax adjustments |
0.19 |
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(0.12) |
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(0.28) |
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(0.31) |
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Non-GAAP net income per share (1) |
$ 0.69 |
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$ 0.77 |
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$ 3.42 |
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$3.02 |
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Shares used in computing per share amounts: (1) |
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Basic - GAAP net loss |
150,448 |
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n/a |
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n/a |
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n/a |
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Diluted - Non-GAAP adjustments & net income |
154,543 |
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154,331 |
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154,874 |
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154,721 |
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(1) We provide both basic weighted-average outstanding shares and fully diluted weighted-average outstanding shares in net income (loss) per share calculation in the reconciliation of earnings per share amounts. If there is a GAAP net loss in a reporting period, we are required to use basic weighted-average outstanding shares to compute net loss per share to prevent anti-dilutive effect while we use fully diluted weighted-average outstanding shares to compute per share non-GAAP adjustments and net income. |
