| MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (in thousands) | |||||||
| ASSETS | |||||||
| June 30, | March 31, | ||||||
| 2017 | 2017 | ||||||
| (Unaudited) | |||||||
| Cash and short-term investments | $ | 1,230,246 | $ | 1,302,772 | |||
| Accounts receivable, net | 528,954 | 478,373 | |||||
| Inventories | 426,843 | 417,202 | |||||
| Assets held for sale | — | 6,459 | |||||
| Other current assets | 112,719 | 100,234 | |||||
| Total current assets | 2,298,762 | 2,305,040 | |||||
| Property, plant and equipment, net | 693,995 | 683,338 | |||||
| Long-term investments | 420,458 | 107,457 | |||||
| Other assets | 4,474,676 | 4,591,046 | |||||
| Total assets | $ | 7,887,891 | $ | 7,686,881 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Accounts payable and accrued liabilities | $ | 416,390 | $ | 361,683 | |||
| Deferred income on shipments to distributors | 308,797 | 292,815 | |||||
| Current portion of long-term debt | 11,256 | 49,952 | |||||
| Total current liabilities | 736,443 | 704,450 | |||||
| Long-term debt | 2,983,908 | 2,900,524 | |||||
| Long-term income tax payable | 187,255 | 184,945 | |||||
| Long-term deferred tax liability | 347,216 | 409,045 | |||||
| Other long-term liabilities | 220,515 | 217,206 | |||||
| Stockholders' equity | 3,412,554 | 3,270,711 | |||||
| Total liabilities and stockholders' equity | $ | 7,887,891 | $ | 7,686,881 | |||
MICROCHIP TECHNOLOGY INCORPORATED AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(in thousands except per share amounts and percentages)
(unaudited)
RECONCILIATION OF GAAP NET SALES TO NON-GAAP NET SALES
| Three Months ended | |||||||
| June 30, | |||||||
| 2017 | 2016 | ||||||
| Net sales, as reported | $ | 972,141 | $ | 799,411 | |||
| Distributor revenue recognition adjustment | — | 44,587 | |||||
| Non-GAAP net sales | $ | 972,141 | $ | 843,998 | |||
RECONCILIATION OF GAAP GROSS PROFIT TO NON-GAAP GROSS PROFIT
