Exhibit 99.01

Contacts:		Investors		Media
		Matt Rhodes		Diane Carlini
		Intuit Inc.		Intuit Inc.
		650-944-2536		650-944-6251
		matthew_rhodes@intuit.com		diane_carlini@intuit.com

Intuit Grows Third-quarter Revenue by 15 Percent,
EPS by More Than 20 Percent

Consumer Tax Revenue Grows 13 Percent Year to Date

     MOUNTAIN VIEW, Calif. — May 19, 2011 — Intuit Inc. (Nasdaq: INTU) today announced financial results for its third fiscal quarter, which ended April 30.

     Unless otherwise noted, all growth rates refer to the current period versus the comparable prior-year period.

Third-quarter Highlights

	•		Revenue was $1.8 billion, up 15 percent.
	•		Non-GAAP diluted earnings per share were up 23 percent; GAAP diluted earnings per share grew 24 percent.
	•		To reflect positive year-to-date performance, the company revised full-year guidance.
	•		For the season, total TurboTax units were up 11 percent, with TurboTax Online units up 18 percent.
	•		Small Business remained a key driver of overall growth, posting 13 percent revenue growth that was driven by customer acquisition in connected services and improved revenue mix.

Intuit Third Quarter 2011 Earnings
Page 2

Snapshot of Third-quarter Results

		GAAP												Non-GAAP
		Q3 FY11				Q3 FY10				Change				Q3 FY11				Q3 FY10				Change
Revenue		$	1,848			$	1,607				15	%		$	1,848			$	1,607				15	%
Operating Income		$	1,061			$	888				19	%		$	1,115			$	938				19	%
EPS		$	2.20			$	1.78				24	%		$	2.33			$	1.89				23	%

Dollars in millions except EPS

CEO Perspective

     “Across the company, our businesses continue to benefit from the secular shift from manual, paper-based methods to digital solutions,” said Brad Smith, Intuit’s president and chief executive officer. “Our high-margin core businesses are thriving.

     “In a particularly competitive tax season, we finished with strong momentum, taking share and growing revenue per unit to achieve year-to-date consumer tax revenue growth of 13 percent. In small business, we now serve nearly 5 million unique customers.

     “We’ve achieved marked success with mobile offerings such as GoPayment and SnapTax, innovative solutions that have helped us establish a leadership position in mobile — the next frontier of connected services. Across the company, we are continuing to innovate in mobile. You’ll see interesting new apps from us for consumers and small businesses over the next several quarters.

     “We’re pleased with the quarter, we’re confident in the year, and we’re optimistic about the progress we’re seeing across the company,” Smith said.

Quarterly Business Segment Results and Highlights

     Total Small Business Group revenue grew 13 percent for the quarter. Improved revenue mix led to another quarter of double-digit revenue growth.

•

Financial Management Solutions revenue grew 11 percent, driven by 42 percent growth in QuickBooks Online subscriptions and strong growth in QuickBooks Enterprise.

Intuit Third Quarter 2011 Earnings
Page 3

	•		Employee Management Solutions revenue grew 12 percent, led by growth in Online and Enhanced Payroll subscribers and increased adoption of payroll direct deposit services.
	•		Payment Solutions revenue grew 17 percent, or 11 percent excluding security and compliance fees passed through to customers in the quarter, roughly in line with merchant growth of 12 percent.
	•		GoPayment is growing quickly, with customers processing more than $19 million a week using GoPayment and related services.

Consumer Tax

	•		The Consumer Tax group generated revenue of $1 billion, up 18 percent. For the season to-date, total TurboTax units were up 11 percent and TurboTax Online units were up 18 percent.
	•		SnapTax and the TurboTax iPad app generated very positive feedback this season, garnering five- and four-out-of-five stars respectively in the Apple app store.

Accounting Professionals

•

The Accounting Professionals segment generated revenue of $225 million, up 10 percent from last year. The focus remains on expanding the professional accounting and tax online offerings, including Online Tax and Tax Import services.

Financial Services

	•		Financial Services revenue grew 5 percent.
	•		Adjusted for the sale of the lending business in the fourth quarter of fiscal year 2010, and a nonrecurring revenue item that affected fiscal year 2010, core revenue growth would have been approximately 9 percent.
	•		End-user adoption continued at a fast pace, with Internet banking users increasing by 9 percent and bill pay users by 23 percent.
	•		Active users of the Financial Services mobile banking solution have doubled over the past 12 months, to more than 700,000.

Intuit Third Quarter 2011 Earnings
Page 4

Other Businesses

	•		The Other Businesses segment posted 17 percent revenue growth. Adjusted for the acquisition of Medfusion and a favorable currency impact, segment revenue grew 9 percent.
	•		QuickBooks Online launched in the U.K. and Singapore. Strong customer adoption continues for Mint in Canada.

CFO Perspective

     “I’m pleased with the progress we are making in delivering connected services solutions to our customers,” said Neil Williams, Intuit’s chief financial officer. “Subscriptions to our online solutions generate valuable recurring revenue streams and bring us closer to our customers to help us determine what other products and services will serve their needs. Approximately one-fifth of our small business customers are using connected services that generate recurring revenue. This is the fastest-growing segment of our customer base and we continue to shift our investment toward these online solutions.”

Stock Repurchase Program

     Intuit repurchased $250 million of its common stock in the third quarter, bringing repurchases to a total of $1.1 billion in the current fiscal year. At the end of the third quarter, the company had $890 million remaining on the current authorization.

Forward-looking Guidance

     For the fourth quarter the company expects:

	•		Revenue of $567 million to $587 million.
	•		GAAP operating loss of $48 million to $58 million.
	•		GAAP loss per share of $0.12 to $0.16.
	•		Non-GAAP operating income of $15 million to $25 million.
	•		Non-GAAP diluted EPS ranging from a loss of $0.02 to income of $0.02.

Intuit Third Quarter 2011 Earnings
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     The company revised its full-year guidance ranges. For fiscal year 2011 the company now expects:

	•		Total company revenue of $3.825 billion to $3.845 billion, growth of 11 percent, up from the previous range of $3.74 billion to $3.84 billion.
	•		GAAP operating income growth of 17 to 18 percent, narrowed from the previous range of 14 to 18 percent.
	•		GAAP diluted EPS of $2.00 to $2.05, growth of 13 to 16 percent, up from the previous range of $1.93 to $2.00. The GAAP EPS growth rates are 7 points higher when the gain from the sale of discontinued operations is excluded from the fiscal year 2010 GAAP results.
	•		Non-GAAP operating income growth of 13 to 14 percent, narrowed from the previous range of 11 to 14 percent.
	•		Non-GAAP diluted EPS of $2.45 to $2.50, growth of 16 to 18 percent, up from the previous range of $2.41 to $2.48.

     Segment results for Small Business and Consumer Tax were also narrowed for the full year:

	•		Consumer Tax segment revenue growth of 13 percent, narrowed from the previous range of 10 to 13 percent.
	•		Small Business segment revenue growth of 10 to 12 percent, narrowed from the previous range of 8 to 12 percent.
	•		All other revenue segment guidance ranges are unchanged.

Conference Call Information

     Intuit executives will discuss the financial results on a conference call at 1:30 p.m. Pacific time today. To hear the call, dial 866-837-9780 in the United States or 703-639-1418 from international locations. No reservation or access code is needed. The conference call can also be heard live via webcast at http://investors.intuit.com/events.cfm. Prepared remarks for the call will be available on Intuit’s website after the call ends.

Intuit Third Quarter 2011 Earnings
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Replay Information

     A replay of the conference call will also be available for one week by calling 888-266-2081, or 703-925-2533 from international locations. The access code for this call is 1528212.

     The audio webcast will remain available on Intuit’s website for one week after the conference call.

About Intuit Inc.

     Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks^®, Quicken^® and TurboTax^®, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries^® and Lacerte^® are Intuit’s leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

     Founded in 1983, Intuit had annual revenue of $3.5 billion in its fiscal year 2010. The company has approximately 7,700 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.

###

     Intuit and the Intuit logo, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.

About Non-GAAP Financial Measures

This press release and the accompanying tables include non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles, please see the section of the accompanying tables titled “About Non-GAAP Financial Measures” as well as the related Table B and Table E. A copy of the press release issued by Intuit today can be found on the investor relations page of Intuit’s Web site.

Cautions About Forward-Looking Statements

This press release contains forward-looking statements, including forecasts of Intuit’s future expected financial results; expectations regarding growth from connected services and from current or future products and services; its prospects for the business in fiscal 2011; and all of the statements under the heading “Forward-looking Guidance.”

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements. These factors include, without limitation, the following: inherent difficulty in predicting consumer behavior; difficulties in receiving, processing, or filing customer tax submissions; consumers

Intuit Third Quarter 2011 Earnings
Page 7

may not respond as we expected to our advertising and promotional activities; product introductions and price competition from our competitors can have unpredictable negative effects on our revenue, profitability and market position; governmental encroachment in our tax businesses or other governmental activities or public policy affecting the preparation and filing of tax returns could negatively affect our operating results and market position; we may not be able to successfully innovate and introduce new offerings and business models to meet our growth and profitability objectives, and current and future offerings may not adequately address customer needs and may not achieve broad market acceptance, which could harm our operating results and financial condition; business interruption or failure of our information technology and communication systems may impair the availability of our products and services, which may damage our reputation and harm our future financial results; as we upgrade and consolidate our customer facing applications and supporting information technology infrastructure, any problems with these implementations could interfere with our ability to deliver our offerings; any failure to properly use and protect personal customer information and data could harm our revenue, earnings and reputation; if we are unable to develop, manage and maintain critical third party business relationships, our business may be adversely affected; increased government regulation of our businesses may harm our operating results; if we fail to process transactions effectively or fail to adequately protect against potential fraudulent activities, our revenue and earnings may be harmed; any significant offering quality problems or delays in our offerings could harm our revenue, earnings and reputation; our participation in the Free File Alliance may result in lost revenue opportunities and cannibalization of our traditional paid franchise; the continuing global economic downturn may continue to impact consumer and small business spending, financial institutions and tax filings, which could negatively affect our revenue and profitability; year-over-year changes in the total number of tax filings that are submitted to government agencies due to economic conditions or otherwise may result in lost revenue opportunities; our revenue and earnings are highly seasonal and the timing of our revenue between quarters is difficult to predict, which may cause significant quarterly fluctuations in our financial results; our financial position may not make repurchasing shares advisable or we may issue additional shares in an acquisition causing our number of outstanding shares to grow; our inability to adequately protect our intellectual property rights may weaken our competitive position and reduce our revenue and earnings; our acquisition and divestiture activities may disrupt our ongoing business, may involve increased expenses and may present risks not contemplated at the time of the transactions; our use of significant amounts of debt to finance acquisitions or other activities could harm our financial condition and results of operation; and litigation involving intellectual property, antitrust, shareholder and other matters may increase our costs. More details about these and other risks that may impact our business are included in our Form 10-K for fiscal 2010 and in our other SEC filings. You can locate these reports through our website at http://investors.intuit.com. Forward-looking statements are based on information as of May 19, 2011, and we do not undertake any duty to update any forward-looking statement or other information in these materials.

TABLE A

INTUIT INC.
GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
(Unaudited)

		Three Months Ended								Nine Months Ended
		April 30,				April 30,				April 30,				April 30,
		2011				2010				2011				2010
Net revenue:
Product		$	602			$	564			$	1,248			$	1,191
Service and other			1,246				1,043				2,010				1,727
Total net revenue			1,848				1,607				3,258				2,918
Costs and expenses:
Cost of revenue:
Cost of product revenue			32				34				110				117
Cost of service and other revenue			132				118				384				341
Amortization of acquired technology			4				5				13				43
Selling and marketing			351				309				901				766
Research and development			164				141				478				426
General and administrative			93				102				271				267
Amortization of other acquired intangible assets			11				10				33				31
Total costs and expenses [A]			787				719				2,190				1,991
Operating income from continuing operations			1,061				888				1,068				927
Interest expense			(15	)			(15	)			(45	)			(46	)
Interest and other income, net			6				5				20				12
Income from continuing operations before income taxes			1,052				878				1,043				893
Income tax provision [B]			364				302				352				306
Net income from continuing operations			688				576				691				587
Net income from discontinued operations [C]			—				—				—				35
Net income from continuing operations		$	688			$	576			$	691			$	622
Basic net income per share from continuing operations		$	2.27			$	1.83			$	2.23			$	1.86
Basic net income per share from discontinued operations			—				—				—				0.11
Basic net income per share		$	2.27			$	1.83			$	2.23			$	1.97
Shares used in basic per share calculations			303				314				309				316
Diluted net income per share from continuing operations		$	2.20			$	1.78			$	2.16			$	1.80
Diluted net income per share from discontinued operations			—				—				—				0.11
Diluted net income per share		$	2.20			$	1.78			$	2.16			$	1.91
Shares used in diluted per share calculations			313				323				319				325

See accompanying Notes.

INTUIT INC.
NOTES TO TABLE A

		Three Months Ended								Nine Months Ended
		April 30,				April 30,				April 30,				April 30,
(in millions)		2011				2010				2011				2010
Cost of product revenue		$	—			$	—			$	—			$	1
Cost of service and other revenue			2				2				5				6
Selling and marketing			12				11				33				30
Research and development			13				10				38				30
General and administrative			12				11				36				31
Total share-based compensation expense		$	39			$	34			$	112			$	98

TABLE B
INTUIT INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
TO MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES
(In millions, except per share amounts)
(Unaudited)

		Three Months Ended								Nine Months Ended
		April 30,				April 30,				April 30,				April 30,
		2011				2010				2011				2010
GAAP operating income		$	1,061			$	888			$	1,068			$	927
Amortization of acquired technology			4				5				13				43
Amortization of other acquired intangible assets			11				10				33				31
Professional fees for business combinations			—				1				—				5
Share-based compensation expense			39				34				112				98
Non-GAAP operating income		$	1,115			$	938			$	1,226			$	1,104
GAAP net income		$	688			$	576			$	691			$	622
Amortization of acquired technology			4				5				13				43
Amortization of other acquired intangible assets			11				10				33				31
Professional fees for business combinations			—				1				—				5
Share-based compensation expense			39				34				112				98
Net gains on debt securities and other investments			(1	)			(1	)			(2	)			(1	)
Income tax effect of non-GAAP adjustments			(11	)			(15	)			(55	)			(63	)
Discontinued operations			—				—				—				(35	)
Non-GAAP net income		$	730			$	610			$	792			$	700
GAAP diluted net income per share		$	2.20			$	1.78			$	2.16			$	1.91
Amortization of acquired technology			0.01				0.02				0.04				0.13
Amortization of other acquired intangible assets			0.04				0.03				0.10				0.10
Professional fees for business combinations			—				—				—				0.02
Share-based compensation expense			0.12				0.11				0.35				0.30
Net gains on debt securities and other investments			—				—				—				—
Income tax effect of non-GAAP adjustments			(0.04	)			(0.05	)			(0.17	)			(0.20	)
Discontinued operations			—				—				—				(0.11	)
Non-GAAP diluted net income per share		$	2.33			$	1.89			$	2.48			$	2.15
Shares used in diluted per share calculation			313				323				319				325

See “About Non-GAAP Financial Measures” immediately following Table E for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure.

TABLE C

INTUIT INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)

		April 30,				July 31,
		2011				2010
ASSETS
Current assets:
Cash and cash equivalents		$	1,369			$	214
Investments			459				1,408
Accounts receivable, net			266				135
Income taxes receivable			2				27
Deferred income taxes			100				117
Prepaid expenses and other current assets			65				57
Current assets before funds held for customers			2,261				1,958
Funds held for customers			383				337
Total current assets			2,644				2,295
Long-term investments			81				91
Property and equipment, net			565				510
Goodwill			1,910				1,914
Acquired intangible assets, net			203				256
Long-term deferred income taxes			53				41
Other assets			111				91
Total assets		$	5,567			$	5,198
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt		$	500			$	—
Accounts payable			196				143
Accrued compensation and related liabilities			201				206
Deferred revenue			337				387
Income taxes payable			209				14
Other current liabilities			218				134
Current liabilities before customer fund deposits			1,661				884
Customer fund deposits			383				337
Total current liabilities			2,044				1,221
Long-term debt			498				998
Other long-term obligations			204				158
Total liabilities			2,746				2,377
Stockholders’ equity			2,821				2,821
Total liabilities and stockholders’ equity		$	5,567			$	5,198

TABLE D
INTUIT INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)

		Three Months Ended								Nine Months Ended
		April 30,				April 30,				April 30,				April 30,
		2011				2010				2011				2010
Cash flows from operating activities:
Net income		$	688			$	576			$	691			$	622
Adjustments to reconcile net income to net cash generated by operating activities:
Depreciation			42				36				120				111
Amortization of acquired intangible assets			19				19				58				87
Share-based compensation expense			39				34				112				99
Pre-tax gain on sale of discontinued operations			—				—				—				(58	)
Deferred income taxes			9				(39	)			25				(61	)
Tax benefit from share-based compensation plans			20				13				68				23
Excess tax benefit from share-based compensation plans			(18	)			(6	)			(59	)			(11	)
Other			3				5				14				15
Total adjustments			114				62				338				205
Changes in operating assets and liabilities:
Accounts receivable			215				264				(130	)			(67	)
Prepaid expenses, income taxes receivable and other assets			132				48				17				43
Accounts payable			(4	)			7				42				63
Accrued compensation and related liabilities			53				51				(6	)			13
Deferred revenue			(226	)			(201	)			(41	)			(45	)
Income taxes payable			208				280				195				282
Other liabilities			(42	)			(43	)			79				33
Total changes in operating assets and liabilities			336				406				156				322
Net cash generated by operating activities			1,138				1,044				1,185				1,149
Cash flows from investing activities:
Purchases of available-for-sale debt securities			(80	)			(1,169	)			(803	)			(1,719	)
Sales of available-for-sale debt securities			55				205				1,470				623
Maturities of available-for-sale debt securities			33				69				254				112
Net change in money market funds and other cash equivalents held to satisfy customer fund obligations			(46	)			39				(20	)			146
Net change in customer fund deposits			46				(38	)			46				3
Purchases of property and equipment			(31	)			(34	)			(166	)			(100	)
Acquisitions of intangible assets			—				(3	)			(3	)			(3	)
Acquisitions of businesses, net of cash acquired			—				—				—				(141	)
Proceeds from divestiture of business			—				—				—				122
Other			(1	)			(3	)			2				(9	)
Net cash provided by (used in) investing activities			(24	)			(934	)			780				(966	)
Cash flows from financing activities:
Net proceeds from issuance of common stock under stock plans			70				176				288				326
Tax payments related to issuance of restricted stock units			(22	)			—				(53	)			(20	)
Purchases of treasury stock			(250	)			(200	)			(1,110	)			(750	)
Excess tax benefit from share-based compensation plans			18				6				59				11
Other			—				(1	)			—				(2	)
Net cash used in financing activities			(184	)			(19	)			(816	)			(435	)
Effect of exchange rates on cash and cash equivalents			6				2				6				3
Net increase (decrease) in cash and cash equivalents			936				93				1,155				(249	)
Cash and cash equivalents at beginning of period			433				337				214				679
Cash and cash equivalents at end of period		$	1,369			$	430			$	1,369			$	430

TABLE E

INTUIT INC.
RECONCILIATION OF FORWARD-LOOKING GUIDANCE FOR NON-GAAP FINANCIAL MEASURES
TO PROJECTED GAAP REVENUE, OPERATING INCOME (LOSS), AND EPS
(In millions, except per share amounts)
(Unaudited)

		Forward-Looking Guidance
		GAAP												Non-GAAP
		Range of Estimate												Range of Estimate
		From				To				Adjustments				From				To
Three Months Ending July 31, 2011
Revenue		$	567			$	587			$	—			$	567			$	587
Operating income (loss)		$	(58	)		$	(48	)		$	73 [a]			$	15			$	25
Diluted earnings per share		$	(0.16	)		$	(0.12	)		$	0.14 [b]			$	(0.02	)		$	0.02
Twelve Months Ending July 31, 2011
Revenue		$	3,825			$	3,845			$	—			$	3,825			$	3,845
Operating income		$	1,010			$	1,020			$	230 [c]			$	1,240			$	1,250
Diluted earnings per share		$	2.00			$	2.05			$	0.45 [d]			$	2.45			$	2.50

See “About Non-GAAP Financial Measures” immediately following this Table E for information on these measures, the items excluded from the most directly comparable GAAP measures in arriving at non-GAAP financial measures, and the reasons management uses each measure and excludes the specified amounts in arriving at each non-GAAP financial measure.

INTUIT INC.
ABOUT NON-GAAP FINANCIAL MEASURES

The accompanying press release dated May 19, 2011 contains non-GAAP financial measures. Table B and Table E reconcile the non-GAAP financial measures in that press release to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures include non-GAAP operating income, non-GAAP net income and non-GAAP net income per share.

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same names and may differ from non-GAAP financial measures with the same or similar names that are used by other companies.

We compute non-GAAP financial measures using the same consistent method from quarter to quarter and year to year. We may consider whether other significant items that arise in the future should be excluded from our non-GAAP financial measures.

We exclude the following items from all of our non-GAAP financial measures:

	•		Share-based compensation expense
	•		Amortization of acquired technology
	•		Amortization of other acquired intangible assets
	•		Charges for historical use of technology licensing rights
	•		Professional fees for business combinations

We also exclude the following items from non-GAAP net income and diluted net income per share:

	•		Gains and losses on debt securities and other investments
	•		Income tax effects of excluded items and discrete tax items
	•		Discontinued operations

We believe that these non-GAAP financial measures provide meaningful supplemental information regarding Intuit’s operating results primarily because they exclude amounts that we do not consider part of ongoing operating results when planning and forecasting and when assessing the performance of the organization, our individual operating segments or our senior management. Segment managers are not held accountable for share-based compensation expense, amortization, or the other excluded items and, accordingly, we exclude these amounts from our measures of segment performance. We believe that our non-GAAP financial measures also facilitate the comparison by management and investors of results for current periods and guidance for future periods with results for past periods.

The following are descriptions of the items we exclude from our non-GAAP financial measures.

Share-based compensation expenses. These consist of non-cash expenses for stock options, restricted stock units and our Employee Stock Purchase Plan. When considering the impact of equity awards, we place greater emphasis on overall shareholder dilution rather than the accounting charges associated with those awards.

Amortization of acquired technology and amortization of other acquired intangible assets. When we acquire an entity, we are required by GAAP to record the fair values of the intangible assets of the entity and amortize them over their useful lives. Amortization of acquired technology in cost of revenue includes amortization of software and other technology assets of acquired entities. Amortization of other acquired intangible assets in operating expenses includes amortization of assets such as customer lists, covenants not to compete and trade names.

Professional fees for business combinations. We exclude from our non-GAAP financial measures the professional fees we incur to complete business combinations. These include investment banking, legal and accounting fees.

Gains and losses on debt securities and other investments. We exclude from our non-GAAP financial measures gains and losses that we record when we sell or impair available-for-sale debt securities and other investments.

Income tax effects of excluded items and discrete tax items. We exclude from our non-GAAP financial measures the income tax effects of the items described above. In addition, the effects of one-time income tax adjustments recorded in a specific quarter for GAAP purposes are reflected on a forecasted basis in our non-GAAP financial measures. This is consistent with how we plan, forecast and evaluate our operating results.

Operating results and gains and losses on the sale of discontinued operations. From time to time, we sell or otherwise dispose of selected operations as we adjust our portfolio of businesses to meet our strategic goals. In accordance with GAAP, we segregate the operating results of discontinued operations as well as gains and losses on the sale of these discontinued operations from continuing operations on our GAAP statements of operations but continue to include them in GAAP net income or loss and net income or loss per share. We exclude these amounts from our non-GAAP financial measures.

The reconciliations of the forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures in Table E include all information reasonably available to Intuit at the date of this press release. These tables include adjustments that we can reasonably predict. Events that could cause the reconciliation to change include acquisitions and divestitures of businesses, goodwill and other asset impairments, and sales of available-for-sale debt securities and other investments.