Lattice Semiconductor Corporation Reconciliation of U.S. GAAP to Non-GAAP Financial Measures (in thousands, except per share data) (unaudited) |
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Three Months Ended |
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July 1, |
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April 1, |
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July 2, |
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2023 |
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2023 |
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2022 |
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Income Tax Expense Reconciliation |
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GAAP Income tax expense |
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$ |
2,439 |
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$ |
2,561 |
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$ |
1,120 |
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Estimated tax effect of non-GAAP adjustments |
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1,372 |
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1,670 |
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175 |
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Change in tax law (3) |
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(339 |
) |
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(1,012 |
) |
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— |
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Non-GAAP Income tax expense |
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$ |
3,472 |
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$ |
3,219 |
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$ |
1,295 |
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| Net Income Reconciliation |
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| GAAP Net income |
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$ |
50,644 |
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$ |
55,923 |
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$ |
44,532 |
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| Stock-based compensation - gross margin (1) |
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1,425 |
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1,023 |
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1,011 |
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| Stock-based compensation - operations (1) |
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20,277 |
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14,296 |
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12,694 |
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| Litigation expense (2) |
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439 |
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288 |
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— |
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| Amortization of acquired intangible assets |
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869 |
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870 |
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870 |
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| Restructuring and other |
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(112 |
) |
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30 |
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192 |
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| Estimated tax effect of non-GAAP adjustments |
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(1,372 |
) |
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(1,670 |
) |
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(175 |
) |
| Change in tax law (3) |
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339 |
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1,012 |
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— |
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| Non-GAAP Net income |
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$ |
72,509 |
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$ |
71,772 |
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$ |
59,124 |
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| Net Income Per Share Reconciliation |
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| GAAP Net income per share - basic |
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$ |
0.37 |
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$ |
0.41 |
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$ |
0.32 |
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| Cumulative effect of Non-GAAP adjustments |
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0.16 |
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0.11 |
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0.11 |
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| Non-GAAP Net income per share - basic |
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$ |
0.53 |
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$ |
0.52 |
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$ |
0.43 |
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| GAAP Net income per share - diluted |
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$ |
0.36 |
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$ |
0.40 |
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$ |
0.32 |
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| Cumulative effect of Non-GAAP adjustments |
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0.16 |
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0.11 |
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0.10 |
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| Non-GAAP Net income per share - diluted |
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$ |
0.52 |
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$ |
0.51 |
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$ |
0.42 |
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| Shares used in per share calculations: |
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| Basic |
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137,735 |
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137,418 |
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137,424 |
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| Diluted |
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139,768 |
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140,101 |
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140,170 |
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| (1) |
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The non-GAAP adjustments for Stock-based compensation include related payroll tax expenses. |
| (2) |
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Legal expenses associated with the defense of claims that are outside the ordinary course of business that were brought against the Company by Steven A.W. De Jaray, Perienne De Jaray and Darrell R. Oswalde. |
| (3) |
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Adjustments for Change in tax law reflect an increase in our provision for U.S. tax on foreign operations resulting from The 2017 Tax Cuts and Jobs Act and is related to the capitalization and subsequent amortization of R&D costs for tax purposes. |
