AVAGO TECHNOLOGIES LIMITED | |||||||||
FINANCIAL RECONCILIATION: GAAP TO NON-GAAP - UNAUDITED | |||||||||
(IN MILLIONS) | |||||||||
Quarter ended | |||||||||
January 29,
|
October 30,
|
January 30,
|
|||||||
Net income on GAAP basis | $ | 125 | $ | 154 | $ | 119 | |||
Amortization of intangible assets | 19 | 20 | 20 | ||||||
Share-based compensation expense | 11 | 11 | 7 | ||||||
Restructuring charges | 1 | 1 | - | ||||||
Loss on extinguishment of debt | - | - | 19 | ||||||
Net income on Non-GAAP basis | $ | 156 | $ | 186 | $ | 165 | |||
Gross margin on GAAP basis | $ | 270 | $ | 304 | $ | 271 | |||
Amortization of intangible assets | 14 | 14 | 14 | ||||||
Share-based compensation expense | 1 | 1 | 1 | ||||||
Gross margin on Non-GAAP basis | $ | 285 | $ | 319 | $ | 286 | |||
Research and development on GAAP basis | $ | 82 | $ | 83 | $ | 73 | |||
Share-based compensation expense | 4 | 4 | 3 | ||||||
Research and development on Non-GAAP basis | $ | 78 | $ | 79 | $ | 70 | |||
Selling, general and administrative on GAAP basis | $ | 50 | $ | 55 | $ | 50 | |||
Share-based compensation expense | 6 | 6 | 3 | ||||||
Selling, general and administrative on Non-GAAP basis | $ | 44 | $ | 49 | $ | 47 | |||
Total operating expenses on GAAP basis | $ | 138 | $ | 145 | $ | 129 | |||
Amortization of intangible assets | 5 | 6 | 6 | ||||||
Share-based compensation expense | 10 | 10 | 6 | ||||||
Restructuring charges | 1 | 1 | - | ||||||
Total operating expenses on Non-GAAP basis | $ | 122 | $ | 128 | $ | 117 | |||
Income from operations on GAAP basis | $ | 132 | $ | 159 | $ | 142 | |||
Amortization of intangible assets | 19 | 20 | 20 | ||||||
Share-based compensation expense | 11 | 11 | 7 | ||||||
Restructuring charges | 1 | 1 | - | ||||||
Income from operations on Non-GAAP basis | $ | 163 | $ | 191 | $ | 169 | |||
Shares used in per share calculation - diluted on GAAP basis | 250 | 252 | 250 | ||||||
Non-GAAP adjustment | 3 | 3 | 4 | ||||||
Shares used in per share calculation - diluted on Non-GAAP basis(1) | 253 | 255 | 254 | ||||||
(1) The number of shares used in the diluted per share calculations on a
non-GAAP basis excludes the impact of share-based compensation expense
expected to be incurred in future periods and not yet recognized in the
financial statements, which would otherwise be assumed to be used to
repurchase shares under the GAAP treasury stock method.