Synopsys Posts Financial Results for Third Quarter Fiscal Year 2022

 

Reconciliation of 2022 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 Fourth Quarter Fiscal Year 2022 Targets (1)
(in thousands, except per share amounts)




 Range for Three Months



October 31, 2022



Low


High

Target GAAP expenses


$        1,076,000


$        1,096,000

Adjustments:





      Amortization of intangible assets


(26,000)


(29,000)

      Stock compensation


(131,000)


(138,000)

Target non-GAAP expenses


$           919,000


$           929,000
















Range for Three Months



October 31, 2022



Low


High

Target GAAP earnings per diluted share


$                 1.06


$                 1.18

Adjustments:





      Amortization of intangible assets


0.18


0.17

      Stock compensation


0.88


0.83

      Tax adjustments


(0.32)


(0.33)

Target non-GAAP earnings per diluted share


$                 1.80


$                 1.85






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


157,500


157,500

 

GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2022 Targets (1)
(in thousands, except per share amounts)




Range for Fiscal Year



October 31, 2022



Low


High

Target GAAP expenses


$        3,978,389


$        3,998,389

Adjustments:





      Amortization of intangible assets


(96,000)


(99,000)

      Stock compensation


(464,000)


(471,000)

      Acquisition-related costs


(11,332)


(11,332)

      Restructuring charges


(12,057)


(12,057)

Target non-GAAP expenses


$        3,395,000


$        3,405,000
















Range for Fiscal Year



October 31, 2022



Low


High

Target GAAP earnings per diluted share


$                 6.37


$                 6.49

Adjustments:





      Amortization of intangible assets


0.63


0.62

      Stock compensation


3.01


2.96

      Acquisition-related costs


0.07


0.07

      Restructuring charges


0.08


0.08

      Tax adjustments


(1.36)


(1.37)

Target non-GAAP earnings per diluted share


$                 8.80


$                 8.85






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


157,500


157,500






(1) Synopsys' fourth quarter of fiscal year 2022 and fiscal year 2022 will end on October 29, 2022. For presentation purposes,
we refer to the closest calendar month end.


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