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Cadence Design Systems, Inc. | ||||||||||||
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Supplemental Reconciliation of Certain GAAP to Non-GAAP Measures | ||||||||||||
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For the Three Months Ended December 29, 2012 | ||||||||||||
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(In thousands) | ||||||||||||
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(Unaudited) | ||||||||||||
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Three Months Ended |
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December 29, 2012 |
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GAAP |
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Adjustments |
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Non-GAAP |
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Revenue: |
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Product and maintenance |
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$ 318,513 |
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$ - |
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$ 318,513 |
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Services |
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27,072 |
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- |
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27,072 |
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Total revenue |
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345,585 |
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- |
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345,585 |
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Costs and expenses: |
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Cost of product and maintenance |
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24,437 |
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(4,263) |
(E) |
20,174 |
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Cost of services |
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19,353 |
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(554) |
(E) |
18,799 |
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Marketing and sales |
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95,604 |
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(3,082) |
(E) |
92,522 |
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Research and development |
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118,382 |
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(8,725) |
(E) |
109,657 |
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General and administrative |
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27,712 |
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(3,932) |
(E) |
23,780 |
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Amortization of acquired intangibles |
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3,772 |
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(3,772) |
(E) |
- |
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Restructuring and other charges |
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64 |
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(64) |
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- |
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Total costs and expenses |
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289,324 |
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(24,392) |
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264,932 |
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Income from operations |
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56,261 |
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24,392 |
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80,653 |
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Interest expense |
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(8,902) |
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5,354 |
(F) |
(3,548) |
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Other income, net |
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5,369 |
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(4,081) |
(G) |
1,288 |
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Income before provision (benefit) for income taxes |
52,728 |
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25,665 |
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78,393 |
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Provision (benefit) for income taxes |
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(261,146) |
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281,528 |
(H) |
20,382 |
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Net income |
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$ 313,874 |
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$ (255,863) |
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$ 58,011 |
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Notes: |
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(E) For the three months ended December 29, 2012 adjustments to GAAP are as follows for the line items specified: | ||||||||||||
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Amortization of acquired intangibles |
Stock-based compensation expense |
Non-qualified deferred compensation expenses |
Integration and acquisition- related costs |
Total adjustments |
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Cost of product and maintenance |
$ 3,877 |
$ 375 |
$ 11 |
$ - |
$ 4,263 |
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Cost of services |
- |
538 |
16 |
- |
554 |
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Marketing and sales |
- |
2,907 |
110 |
65 |
3,082 |
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Research and development |
- |
6,293 |
623 |
1,809 |
8,725 |
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General and administrative |
- |
3,163 |
456 |
313 |
3,932 |
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Amortization of acquired intangibles |
3,772 |
- |
- |
- |
3,772 |
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Total |
$ 7,649 |
$ 13,276 |
$ 1,216 |
$ 2,187 |
$ 24,328 |
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(F) Amortization of debt discount related to convertible notes | ||||||||||||
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(G) Other income or expense related to investments and non-qualified deferred compensation plan assets | ||||||||||||
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(H) Income tax effect of non-GAAP adjustments | ||||||||||||
