Reconciliation of 2021 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 2021 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Three Months | ||
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| July 31, 2021 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 807,000 |
| $ 825,000 |
Adjustments: |
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Estimated impact of amortization of intangible assets |
| (19,000) |
| (22,000) |
Estimated impact of stock compensation |
| (81,000) |
| (86,000) |
Target non-GAAP expenses |
| $ 707,000 |
| $ 717,000 |
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| Range for Three Months | ||
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| July 31, 2021 | ||
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| Low |
| High |
Target GAAP earnings per share |
| $ 1.30 |
| $ 1.41 |
Adjustments: |
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Estimated impact of amortization of intangible assets |
| 0.14 |
| 0.12 |
Estimated impact of stock compensation |
| 0.55 |
| 0.51 |
Estimated impact of tax adjustments |
| (0.24) |
| (0.24) |
Target non-GAAP earnings per share |
| $ 1.75 |
| $ 1.80 |
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Shares used in non-GAAP calculation (midpoint of target range) |
| 157,500 |
| 157,500 |
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GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2021 Targets(1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Fiscal Year | ||
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| October 31, 2021 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 3,240,892 |
| $ 3,285,892 |
Adjustments: |
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Estimated impact of amortization of intangible assets |
| (75,000) |
| (80,000) |
Estimated impact of stock compensation |
| (325,000) |
| (335,000) |
| Acquisition-related costs |
| (5,892) |
| (5,892) |
| Target non-GAAP expenses |
| $ 2,835,000 |
| $ 2,865,000 |
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| Range for Fiscal Year | ||
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| October 31, 2021 | ||
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| Low |
| High |
| Target GAAP earnings per share |
| $ 4.55 |
| $ 4.72 |
| Adjustments: |
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| Estimated impact of amortization of intangible assets |
| 0.51 |
| 0.48 |
| Estimated impact of stock compensation |
| 2.13 |
| 2.06 |
| Acquisition-related costs |
| 0.04 |
| 0.04 |
| Estimated impact of tax adjustments |
| (0.85) |
| (0.85) |
| Target non-GAAP earnings per share |
| $ 6.38 |
| $ 6.45 |
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| Shares used in non-GAAP calculation (midpoint of target range) |
| 157,500 |
| 157,500 |
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| (1) Synopsys' third fiscal quarter and fiscal year will end on July 31, 2021 and October 30, 2021, respectively. For presentation purposes, we refer to the closest calendar month end. | ||||
