Autodesk 2011 Annual Report Download - page 113

Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures
(in millions except for gross margin, operating margin and per share data):
Fiscal Year Ended
January 31,
2011 2010 2009
(Unaudited)
Gross profit ...................................................... $1,755.2 $1,521.9 $2,096.1
Stock-based compensation expense ............................... 2.9 3.1 3.6
Amortization of purchased intangibles(1) ........................... 31.9 32.9 23.2
Non-GAAP gross profit ............................................ $1,790.0 $1,557.9 $2,122.9
Gross margin ..................................................... 90% 89% 91%
Stock-based compensation expense ............................... 0% 0% 0%
Amortization of purchased intangibles ............................. 2% 2% 1%
Non-GAAP gross margin ........................................... 92% 91% 92%
Income from operations ............................................ $ 271.4 $ 65.6 $ 244.5
Stock-based compensation expense ............................... 80.7 93.6 89.6
Amortization of purchased intangibles(1) ........................... 55.9 58.4 46.6
In-process research and development .............................. — — 26.9
Impairment of goodwill ......................................... — 21.0 128.9
Restructuring charges .......................................... 10.8 48.2 40.2
Non-GAAP income from operations ................................... $ 418.8 $ 286.8 $ 576.7
Operating margin .................................................. 14% 4% 11%
Stock-based compensation expense ............................... 4% 5% 4%
Amortization of purchased intangibles(1) ........................... 3% 4% 2%
In-process research and development .............................. 0% 0% 1%
Impairment of goodwill ......................................... 0% 3% 5%
Restructuring charges .......................................... 0% 1% 2%
Non-GAAP operating margin ........................................ 21% 17% 25%
Net income ...................................................... $ 212.0 $ 58.0 $ 183.6
Stock-based compensation expense ............................... 80.7 93.6 89.6
Amortization of purchased intangibles(1) ........................... 55.9 58.4 46.6
In-process research and development .............................. — — 26.9
Impairment of goodwill ......................................... — 21.0 128.9
Restructuring charges .......................................... 10.8 48.2 40.2
Establishment of valuation allowance on deferred tax assets ............ — 21.0 —
Discrete tax provision items ..................................... (6.0) (13.1) (10.0)
Income tax effect of non-GAAP adjustments ........................ (43.0) (57.9) (66.3)
Non-GAAP net income ............................................. $ 310.4 $ 229.2 $ 439.5
Diluted net income per share ......................................... $ 0.90 $ 0.25 $ 0.80
Stock-based compensation expense ............................... 0.34 0.40 0.39
Amortization of purchased intangibles(1) ........................... 0.24 0.25 0.20
In-process research and development .............................. — — 0.12
Impairment of goodwill ......................................... — 0.09 0.56
Restructuring charges .......................................... 0.05 0.21 0.18
Establishment of valuation allowance on deferred tax assets ............ — 0.09 —
Discrete tax provision items ..................................... (0.03) (0.04) (0.04)
Income tax effect of non-GAAP adjustments ........................ (0.18) (0.26) (0.30)
Non-GAAP diluted net income per share ............................... $ 1.32 $ 0.99 $ 1.91
(1) Amortization of purchased intangibles includes amortization of purchased developed technology, customer
relationships, and trade names for acquisitions subsequent to December 2005.
47