SLIDE 24 Reconciliation of EPS Using the Two-class Method
Three months ended November 30, 2014 Amount attributable to SYNNEX corp. Amount allocated to participating securities(1) Amount attributable to common stockholders Diluted weighted average common shares
Per diluted share amount Net income attributable to SYNNEX Corporation
57,080 $ 715 $ 56,365 $ 39,223 1.44 $
IBM CRM acquisition and other integration expenses, net of taxes(2) 5,181 63 5,118
39,223 0.13
Amortization of intangibles, net of taxes(2) 10,416 128 10,288
39,223 0.26
Non-GAAP net income 72,677 $ 906 $ 71,771 $
39,223 1.83 $
Fiscal year ended November 30, 2014 Amount attributable to SYNNEX corp. Amount allocated to participating securities(1) Amount attributable to common stockholders Diluted weighted average common shares
Per diluted share amount Net income attributable to SYNNEX Corporation
180,034 $ 2,386 $ 177,648 $ 38,845 4.57 $
IBM CRM acquisition and other integration expenses, net of taxes(2) 27,357 356 27,001
38,845 0.70
Amortization of intangibles, net of taxes(2) 34,956 455 34,501
38,845 0.89
Non-GAAP net income 242,347 $ 3,197 $ 239,150 $
38,845 6.16 $
Three months ended November 30, 2013 Amount attributable to SYNNEX corp. Amount allocated to participating securities(1) Amount attributable to common stockholders Diluted weighted average common shares
Per diluted share amount Net income attributable to SYNNEX Corporation
41,488 $ 577 $ 40,911 $ 37,566 1.09 $
IBM CRM acquisition and other integration expenses, net of taxes(2) 3,922 54 3,868
37,566 0.10
Amortization of intangibles, net of taxes(2) 1,271 18 1,253
37,566 0.04
Non-GAAP net income 46,681 $ 649 $ 46,032 $
37,566 1.23 $
Fiscal year ended November 30, 2013 Amount attributable to SYNNEX corp. Amount allocated to participating securities(1) Amount attributable to common stockholders Diluted weighted average common shares
Per diluted share amount Diluted net income adjusted for impact of conversion premium 115,828 $ 2,266 113,562 $ 37,633
3.02 $
Impact of conversion premium(3) 36,409
37,633
0.97
IBM CRM acquisition and other integration expenses, net of taxes(2) 5,986 88 5,898
37,633 0.16
Amortization of intangibles, net of taxes(2) 5,089 75 5,014
37,633 0.13
Non-GAAP net income 163,312 $ 2,429 $ 160,883 $
37,633 4.28 $
(3) For fiscal year ended November 30, 2013, net income for the purpose of computation of diluted EPS was adjusted for the change in the estimated value of the conversion premium of the convertible notes from April 2013 through the final settlement date. The convertible notes were settled in the third quarter of fiscal year 2013. (2) The tax effect of the non-GAAP adjustments was calculated using the applicable effective tax rate during the periods, except for IBM CRM acquisition and
- ther integration expenses for the three and twelve months ended November 31, 2013, which was calculated using the tax deductible portion of the expenses
and applying the entity-specific, U.S. Federal and blended state tax rates. The Company calculated earnings per share (“EPS”) for the three months and fiscal year ended November 30, 2014 using the two-class method. The Company has also adjusted EPS calculations for all prior periods presented using the two-class method. The two-class method requires that unvested share-based payment awards that have non-forfeitable rights to dividends or dividend equivalents be treated as a separate class of securities in calculating earnings per common share. (1) Restricted stock awards granted to employees and non-employee directors by the Company and its subsidiaries are considered participating securities.
