Synopsys Posts Financial Results for First Quarter Fiscal Year 2020

Reconciliation of 2020 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 Second Quarter Fiscal Year 2020 Targets (1)

(in thousands, except per share amounts)








 Range for Three Months 


Ending April 30, 2020


Low


High

Target GAAP expenses

$      724,000


$      758,000

Adjustments:




      Estimated impact of amortization of intangible assets

(23,000)


(25,000)

      Estimated impact of stock compensation

(56,000)


(59,000)

      Estimated impact of restructuring charges

-


(9,000)

Target non-GAAP expenses

$      645,000


$      665,000












Range for Three Months


Ending April 30, 2020


Low


High

Target GAAP earnings per share

$            0.49


$            0.62

Adjustments:




      Estimated impact of amortization of intangible assets

0.16


0.15

      Estimated impact of stock compensation

0.38


0.36

      Estimated impact of restructuring charges

0.06


-

      Estimated impact of tax adjustments

(0.13)


(0.12)

Target non-GAAP earnings per share

$            0.96


$            1.01





Shares used in non-GAAP calculation (midpoint of target range)

154,500


154,500









GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2020 Targets(1)

(in thousands, except per share amounts)








Range for Fiscal Year


October 31, 2020


Low


High

Target GAAP expenses

$   2,950,777


$   2,999,777

Adjustments:




      Estimated impact of amortization of intangible assets

(86,000)


(91,000)

      Estimated impact of stock compensation

(222,000)


(227,000)

      Acquisition-related costs

(3,777)


(3,777)

      Estimated impact of restructuring charges

(9,000)


(18,000)

Target non-GAAP expenses

$   2,630,000


$   2,660,000












Range for Fiscal Year


October 31, 2020


Low


High

Target GAAP earnings per share

$            3.68


$            3.87

Adjustments:




     Estimated impact of amortization of intangible assets

0.59


0.56

     Estimated impact of stock compensation

1.47


1.44

     Acquisition-related costs

0.02


0.02

     Estimated impact of restructuring charges

0.12


0.06

     Impact of tax adjustments

(0.70)


(0.70)

Target non-GAAP earnings per share

$            5.18


$            5.25





Shares used in non-GAAP calculation (midpoint of target range)

154,500


154,500


(1) Synopsys' second fiscal quarter and fiscal year will end on May 2, 2020 and October 31, 2020, respectively. For presentation purposes, we refer to the closest calendar month end. 


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