(2) Amount represents $83.3 million of stock-based compensation expense, $4.3 million of excess payroll taxes related to stock-based awards, $40.8 million of amortization expense associated with intangible assets acquired in business combinations, $3.5 million of transaction expenses related to business combinations and the $9.4 million adjustment to revenue as reflected in (1) above.
(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, decreased for the related income tax impact of $47.9 million and increased for a measurement-period adjustment related to the Tax Cuts and Jobs Act of $0.9 million and rabbi trust expense of $0.1 million.
| ANSYS, INC. AND SUBSIDIARIES | |||||||||||||||||||||||||
| ASC 605 Reconciliation of Non-GAAP Measures | |||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||
| December 31, 2018 | December 31, 2017 | ||||||||||||||||||||||||
| (in thousands, except percentages and per share data) |
GAAP
Results | Adjustments |
Non-GAAP
Results |
GAAP
Results | Adjustments |
Non-
GAAP Results | |||||||||||||||||||
| Total revenue | $ | 335,918 | $ | 4,147 | (1 ) | $ | 340,065 | $ | 302,336 | $ | 1,108 | (4) | $ | 303,444 | |||||||||||
| Operating income | 100,422 | 37,248 | (2 ) | 137,670 | 100,679 | 28,582 | (5) | 129,261 | |||||||||||||||||
| Operating profit margin | 29.9 | % | 40.5 | % | 33.3 | % | 42.6 | % | |||||||||||||||||
| Net income | $ | 88,570 | $ | 30,005 | (3 ) | $ | 118,575 | $ | 52,585 | $ | 40,183 | (6) | $ | 92,768 | |||||||||||
| Earnings per share – diluted: | |||||||||||||||||||||||||
| Earnings per share | $ | 1.04 | $ | 1.39 | $ | 0.61 | $ | 1.07 | |||||||||||||||||
| Weighted average shares | 85,472 | 85,472 | 86,709 | 86,709 | |||||||||||||||||||||
(1) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.
(2) Amount represents $24.5 million of stock-based compensation expense, $0.5 million of excess payroll taxes related to stock-based awards, $7.0 million of amortization expense associated with intangible assets acquired in business combinations, $1.2 million of transaction expenses related to business combinations and the $4.1 million adjustment to revenue as reflected in (1) above.
(3) Amount represents the impact of the adjustments to operating income referred to in (2) above, decreased for the related income tax impact of $7.4 million and increased for rabbi trust expense of $0.2 million.
(4) Amount represents the revenue not reported during the period as a result of the acquisition accounting adjustment associated with the accounting for deferred revenue in business combinations.
(5) Amount represents $13.7 million of stock-based compensation expense, $13.4 million of amortization expense associated with intangible assets acquired in business combinations, $0.4 million of transaction expenses related to business combinations and the $1.1 million adjustment to revenue as reflected in (4) above.
