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 2023 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Three Months Ending | ||
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| October 31, 2023 | ||
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| Low |
| High |
Target GAAP expenses |
| $ 1,184,000 |
| $ 1,204,000 |
Adjustments: |
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Amortization of intangible assets |
| (25,000) |
| (28,000) |
Stock compensation |
| (154,000) |
| (161,000) |
Target non-GAAP expenses |
| $ 1,005,000 |
| $ 1,015,000 |
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| Range for Three Months Ending | ||
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| October 31, 2023 | ||
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| Low |
| High |
Target GAAP earnings per diluted share attributed to Synopsys |
| $ 2.17 |
| $ 2.28 |
Adjustments: |
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Amortization of intangible assets |
| 0.18 |
| 0.16 |
Stock compensation |
| 1.03 |
| 0.99 |
Tax adjustments |
| (0.37) |
| (0.37) |
Target non-GAAP earnings per diluted share attributed to Synopsys |
| $ 3.01 |
| $ 3.06 |
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Shares used in non-GAAP calculation (midpoint of target range) |
| 156,000 |
| 156,000 |
GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2023 Targets (1) | ||||
(in thousands, except per share amounts) | ||||
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| Range for Fiscal Year Ending | ||
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| October 31, 2023 | ||
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| Low |
| High |
| Target GAAP expenses |
| $ 4,544,230 |
| $ 4,564,230 |
| Adjustments: |
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| Amortization of intangible assets |
| (100,000) |
| (103,000) |
| Stock compensation |
| (576,000) |
| (583,000) |
| Acquisition-related items |
| (9,846) |
| (9,846) |
| Restructuring charges |
| (78,384) |
| (78,384) |
| Target non-GAAP expenses |
| $ 3,780,000 |
| $ 3,790,000 |
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| Range for Fiscal Year Ending | ||
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| October 31, 2023 | ||
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| Low |
| High |
| Target GAAP earnings per diluted share attributed to
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| $ 7.85 |
| $ 7.96 |
| Adjustments: |
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| Amortization of intangible assets |
| 0.64 |
| 0.62 |
| Stock compensation |
| 3.74 |
| 3.70 |
| Acquisition-related items |
| 0.06 |
| 0.06 |
| Restructuring charges |
| 0.51 |
| 0.51 |
| Tax settlement |
| (0.15) |
| (0.15) |
| Tax adjustments |
| (1.61) |
| (1.61) |
| Target non-GAAP earnings per diluted share attributed to
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| $ 11.04 |
| $ 11.09 |
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| Shares used in non-GAAP calculation (midpoint of target
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| 156,000 |
| 156,000 |
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| (1) Synopsys' fourth quarter of fiscal year 2023 and fiscal year 2023 will end on October 28, 2023. For presentation purposes,
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