Reconciliation of 2023 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 Third Quarter Fiscal Year 2023 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Three Months Ending | ||
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| July 31, 2023 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 1,143,000 |
| $ 1,163,000 |
Adjustments: |
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Amortization of intangible assets |
| (25,000) |
| (28,000) |
Stock compensation |
| (148,000) |
| (155,000) |
Target non-GAAP expenses |
| $ 970,000 |
| $ 980,000 |
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| Range for Three Months Ending | ||
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| July 31, 2023 | ||
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| Low |
| High |
Target GAAP earnings per diluted share attributed to Synopsys |
| $ 1.88 |
| $ 1.99 |
Adjustments: |
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Amortization of intangible assets |
| 0.18 |
| 0.16 |
Stock compensation |
| 0.99 |
| 0.95 |
Tax adjustments |
| (0.35) |
| (0.35) |
Target non-GAAP earnings per diluted share attributed to
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| $ 2.70 |
| $ 2.75 |
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Shares used in non-GAAP calculation (midpoint of target range) |
| 156,500 |
| 156,500 |
GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2023 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Fiscal Year Ending | ||
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| October 31, 2023 | ||
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| Low |
| High |
| Target GAAP expenses |
| $ 4,520,305 |
| $ 4,565,305 |
| Adjustments: |
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| Amortization of intangible assets |
| (100,000) |
| (105,000) |
| Stock compensation |
| (580,000) |
| (590,000) |
| Acquisition-related items |
| (5,306) |
| (5,306) |
| Restructuring charges |
| (44,999) |
| (44,999) |
| Target non-GAAP expenses |
| $ 3,790,000 |
| $ 3,820,000 |
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| Range for Fiscal Year Ending | ||
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| October 31, 2023 | ||
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| Low |
| High |
| Target GAAP earnings per diluted share attributed to
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| $ 7.44 |
| $ 7.60 |
| Adjustments: |
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| Amortization of intangible assets |
| 0.67 |
| 0.64 |
| Stock compensation |
| 3.77 |
| 3.71 |
| Acquisition-related items |
| 0.03 |
| 0.03 |
| Restructuring charges |
| 0.29 |
| 0.29 |
| Tax adjustments |
| (1.43) |
| (1.43) |
| Target non-GAAP earnings per diluted share attributed
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| $ 10.77 |
| $ 10.84 |
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| Shares used in non-GAAP calculation (midpoint of
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| 156,500 |
| 156,500 |
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| (1) Synopsys' third quarter of fiscal year 2023 and fiscal year 2023 will end on July 29, 2023 and October 28, 2023,
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