Autodesk 2013 Annual Report Download - page 118
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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,
2013 2012 2011
(Unaudited)
Gross profit $ 2,073.7 $ 1,986.5 $ 1,755.2
Stock-based compensation expense 5.2 3.9 2.9
Amortization of purchased intangibles(1) 39.7 38.0 31.9
Non-GAAP gross profit $ 2,118.6 $ 2,028.4 $ 1,790.0
Gross margin 90% 90% 90%
Stock-based compensation expense —% —% —%
Amortization of purchased intangibles 2% 2% 2%
Non-GAAP gross margin 92% 92% 92%
Income from operations $ 305.9 $ 355.6 $ 271.4
Stock-based compensation expense 156.3 108.8 80.7
Amortization of purchased intangibles(1) 81.8 70.3 55.9
Restructuring charges (benefits), net 43.9 (1.3) 10.8
Non-GAAP income from operations $ 587.9 $ 533.4 $ 418.8
Operating margin 13% 16% 14%
Stock-based compensation expense 7% 5% 4%
Amortization of purchased intangibles(1) 3% 3% 3%
Restructuring charges (benefits), net 2% —% —%
Non-GAAP operating margin 25% 24% 21%
Net income $ 247.4 $ 285.3 $ 212.0
Stock-based compensation expense 156.3 108.8 80.7
Amortization of purchased intangibles(1) 81.8 70.3 55.9
Restructuring charges (benefits), net 43.9 (1.3) 10.8
Loss (gain) on strategic investments(2) 4.0 (0.3) (2.0)
Discrete tax provision items (26.7) (6.8) (6.0)
Income tax effect of non-GAAP adjustments (56.7) (50.9) (43.0)
Non-GAAP net income $ 450.0 $ 405.1 $ 308.4
Diluted net income per share $ 1.07 $ 1.22 $ 0.90
Stock-based compensation expense 0.67 0.47 0.34
Amortization of purchased intangibles(1) 0.36 0.30 0.24
Impairment of goodwill ———
Restructuring charges (benefits), net 0.18 (0.01) 0.05
Loss (gain) on strategic investments(2) 0.02 — (0.01)
Discrete tax provision items (0.12) (0.03) (0.03)
Income tax effect of non-GAAP adjustments (0.24) (0.21) (0.18)
Non-GAAP diluted net income per share $ 1.94 $ 1.74 $ 1.31
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(1) Amortization of purchased intangibles includes amortization of purchased developed technology, customer relationships, and trade
names for acquisitions subsequent to December 2005.
(2) Effective in the second quarter of fiscal 2013, Autodesk began excluding gains and losses on strategic investments for purposes of its
non-GAAP financial measures. Prior period non-GAAP interest and other income (expense), net, net income and earnings per share
amounts have been revised to conform to the current period presentation.
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