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 2021 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Three Months | ||
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| April 30, 2021 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 801,000 |
| $ 819,000 |
Adjustments: |
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Estimated impact of amortization of intangible assets |
| (19,000) |
| (22,000) |
Estimated impact of stock compensation |
| (85,000) |
| (90,000) |
Target non-GAAP expenses |
| $ 697,000 |
| $ 707,000 |
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| Range for Three Months | ||
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| April 30, 2021 | ||
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| Low |
| High |
Target GAAP earnings per share |
| $ 0.93 |
| $ 1.02 |
Adjustments: |
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Estimated impact of amortization of intangible assets |
| 0.14 |
| 0.12 |
Estimated impact of stock compensation |
| 0.57 |
| 0.54 |
Estimated impact of tax adjustments |
| (0.14) |
| (0.13) |
Target non-GAAP earnings per share |
| $ 1.50 |
| $ 1.55 |
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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 |
| $ 3,233,548 |
| $ 3,278,548 |
Adjustments: |
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Estimated impact of amortization of intangible assets |
| (75,000) |
| (80,000) |
Estimated impact of stock compensation |
| (330,000) |
| (340,000) |
| Acquisition-related costs |
| (3,548) |
| (3,548) |
| Target non-GAAP expenses |
| $ 2,825,000 | # | $ 2,855,000 |
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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 |
| $ 4.29 |
| $ 4.45 |
| Adjustments: |
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| Estimated impact of amortization of intangible assets |
| 0.51 |
| 0.48 |
| Estimated impact of stock compensation |
| 2.16 |
| 2.10 |
| Acquisition-related costs |
| 0.02 |
| 0.02 |
| Estimated impact of tax adjustments |
| (0.75) |
| (0.75) |
| Target non-GAAP earnings per share |
| $ 6.23 |
| $ 6.30 |
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| Shares used in non-GAAP calculation (midpoint of target range) |
| 157,500 |
| 157,500 |
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| (1) Synopsys' second fiscal quarter and fiscal year will end on May 1, 2021 and October 30, 2021, respectively.
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