Autodesk 2014 Annual Report Download - page 125
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2013 Annual Report
2014 Form 10-K 51
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,
2014 2013 2012
(Unaudited)
Gross profit $ 1,999.6 $ 2,073.7 $ 1,986.5
Stock-based compensation expense 6.0 5.2 3.9
Amortization of purchased intangibles 44.2 39.7 38.0
Non-GAAP gross profit $ 2,049.8 $ 2,118.6 $ 2,028.4
Gross margin 88% 90% 90%
Stock-based compensation expense —% —% —%
Amortization of purchased intangibles 2% 2% 2%
Non-GAAP gross margin 90% 92% 92%
Income from operations $ 284.8 $ 305.9 $ 355.6
Stock-based compensation expense 132.2 156.3 108.8
Amortization of purchased intangibles 80.7 81.8 70.3
Restructuring charges (benefits), net 12.8 43.9 (1.3)
Non-GAAP income from operations $ 510.5 $ 587.9 $ 533.4
Operating margin 13% 13% 16%
Stock-based compensation expense 6% 7% 5%
Amortization of purchased intangibles 3% 3% 3%
Restructuring charges (benefits), net —% 2% —%
Non-GAAP operating margin 22% 25% 24%
Net income $ 228.8 $ 247.4 $ 285.3
Stock-based compensation expense 132.2 156.3 108.8
Amortization of purchased intangibles 80.7 81.8 70.3
Restructuring charges (benefits), net 12.8 43.9 (1.3)
Loss (gain) on strategic investments (1) 1.8 4.0 (0.3)
Discrete tax provision items (10.2) (26.7) (6.8)
Income tax effect of non-GAAP adjustments (60.5) (56.7) (50.9)
Non-GAAP net income $ 385.6 $ 450.0 $ 405.1
Diluted net income per share (2) $ 1.00 $ 1.07 $ 1.22
Stock-based compensation expense 0.57 0.67 0.47
Amortization of purchased intangibles 0.35 0.36 0.30
Restructuring charges (benefits), net 0.06 0.18 (0.01)
Loss (gain) on strategic investments (1) — 0.02 —
Discrete tax provision items (0.04) (0.12) (0.03)
Income tax effect of non-GAAP adjustments (0.26) (0.24) (0.21)
Non-GAAP diluted net income per share (2) $ 1.68 $ 1.94 $ 1.74
____________________
(1) 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.
(2) Earnings per share were computed independently for each of the periods presented; therefore the sum of the earnings per share amount
for the quarters may not equal the total for the year.