Reconciliation of First Quarter Fiscal Year 2016 Results
The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP net income and earnings per share for the period indicated below.
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GAAP to Non-GAAP Reconciliation of First Quarter Fiscal Year 2016 Results | |||
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(unaudited and in thousands, except per share amounts) | |||
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Three Months Ended | ||
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January 31, | ||
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2016 |
|
2015 |
|
GAAP net income |
$ 60,035 |
|
$ 65,189 |
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Adjustments: |
|
|
|
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Amortization of intangible assets |
37,461 |
|
32,308 |
|
Stock compensation |
23,013 |
|
20,581 |
|
Acquisition-related costs |
3,872 |
|
712 |
|
Restructuring charges |
2,093 |
|
15,336 |
|
Legal and tax matters |
- |
|
(1,519) |
|
Tax adjustments (1) |
(20,541) |
|
(6,936) |
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Non-GAAP net income |
$ 105,933 |
|
$ 125,671 |
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Three Months Ended | ||
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January 31, | ||
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|
2016 |
|
2015 |
|
GAAP net income per share |
$ 0.39 |
|
$ 0.41 |
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Adjustments: |
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|
|
|
Amortization of intangible assets |
0.24 |
|
0.21 |
|
Stock compensation |
0.15 |
|
0.13 |
|
Acquisition-related costs |
0.02 |
|
0.00 |
|
Restructuring charges |
0.01 |
|
0.10 |
|
Legal and tax matters |
- |
|
(0.01) |
|
Tax adjustments (1) |
(0.13) |
|
(0.04) |
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Non-GAAP net income per share |
$ 0.68 |
|
$ 0.80 |
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Shares used in calculation |
155,283 |
|
157,206 |
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(1) Fiscal 2016 tax adjustments reflect the application of our normalized annual non-GAAP tax rate to non-GAAP pre-tax income. | |||
