Reconciliation of 2022 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 First Quarter Fiscal Year 2022 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Three Months | ||
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| January 31, 2022 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 934,000 |
| $ 964,000 |
Adjustments: |
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Amortization of intangible assets |
| (22,000) |
| (25,000) |
Stock compensation |
| (102,000) |
| (107,000) |
Restructuring charges |
| (8,000) |
| (20,000) |
Target non-GAAP expenses |
| $ 802,000 |
| $ 812,000 |
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| Range for Three Months | ||
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| January 31, 2022 | ||
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| Low |
| High |
Target GAAP earnings per share |
| $ 1.75 |
| $ 1.92 |
Adjustments: |
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Amortization of intangible assets |
| 0.16 |
| 0.14 |
Stock compensation |
| 0.68 |
| 0.65 |
Restructuring charges |
| 0.13 |
| 0.05 |
Tax adjustments |
| (0.37) |
| (0.36) |
Target non-GAAP earnings per share |
| $ 2.35 |
| $ 2.40 |
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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 2022 Targets(1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Fiscal Year | ||
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| October 31, 2022 | ||
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| Low |
| High |
| Target GAAP expenses |
| $ 3,778,000 |
| $ 3,835,000 |
| Adjustments: |
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| Amortization of intangible assets |
| (80,000) |
| (85,000) |
| Stock compensation |
| (465,000) |
| (475,000) |
| Restructuring charges |
| (8,000) |
| (20,000) |
| Target non-GAAP expenses |
| $ 3,225,000 |
| $ 3,255,000 |
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| Range for Fiscal Year | ||
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| October 31, 2022 | ||
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| Low |
| High |
| Target GAAP earnings per share |
| $ 5.39 |
| $ 5.65 |
| Adjustments: |
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| Amortization of intangible assets |
| 0.54 |
| 0.50 |
| Stock compensation |
| 3.00 |
| 2.93 |
| Restructuring charges |
| 0.13 |
| 0.05 |
| Tax adjustments |
| (1.33) |
| (1.33) |
| Target non-GAAP earnings per share |
| $ 7.73 |
| $ 7.80 |
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| Shares used in non-GAAP calculation (midpoint of target range) |
| 158,500 |
| 158,500 |
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| (1) Synopsys' first fiscal quarter and fiscal year will end on January 29, 2022 and October 29, 2022, respectively. For presentation purposes,
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