RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| March 31, | March 31, | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| Selling, general and administrative expenses, as reported | $ | 167.5 | $ | 114.5 | $ | 682.9 | $ | 452.1 | |||||||
| Share-based compensation expense | (16.3 | ) | (9.3 | ) | (62.3 | ) | (36.9 | ) | |||||||
| Acquisition-related costs | (4.3 | ) | (5.3 | ) | (41.7 | ) | (10.1 | ) | |||||||
| Non-GAAP selling, general and administrative expenses | $ | 146.9 | $ | 99.9 | $ | 578.9 | $ | 405.1 | |||||||
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | 11.0 | % | 10.0 | % | 10.6 | % | 10.2 | % | |||||||
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| March 31, | March 31, | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| Operating expenses, as reported | $ | 535.9 | $ | 371.0 | $ | 2,217.0 | $ | 1,484.4 | |||||||
| Share-based compensation expense | (35.1 | ) | (20.0 | ) | (134.3 | ) | (79.4 | ) | |||||||
| Acquisition-related costs | (4.4 | ) | (5.3 | ) | (43.2 | ) | (10.1 | ) | |||||||
| Amortization of acquired intangible assets | (176.9 | ) | (122.8 | ) | (674.1 | ) | (485.5 | ) | |||||||
| Special (income) charges and other, net | 23.3 | (0.2 | ) | (33.7 | ) | (17.5 | ) | ||||||||
| Non-GAAP operating expenses | $ | 342.8 | $ | 222.7 | $ | 1,331.7 | $ | 891.9 | |||||||
| Non-GAAP operating expenses as a percentage of net sales | 25.8 | % | 22.2 | % | 24.3 | % | 22.4 | % | |||||||
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| March 31, | March 31, | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| Operating income, as reported | $ | 284.6 | $ | 244.1 | $ | 714.3 | $ | 936.3 | |||||||
| Impact of changes in distributor inventory levels | — | — | 83.4 | — | |||||||||||
| Share-based compensation expense | 39.1 | 23.3 | 149.2 | 93.2 | |||||||||||
| Manufacturing excursion | — | — | — | (0.6 | ) | ||||||||||
| Acquisition-related costs | 5.0 | 5.3 | 44.1 | 10.1 | |||||||||||
| Excess capacity charges to normalize acquired inventory levels | — | — | 2.3 | — | |||||||||||
| Acquired inventory valuation costs | 1.8 | — | 365.7 | — | |||||||||||
| Amortization of acquired intangible assets | 176.9 | 122.8 | 674.1 | 485.5 | |||||||||||
| Special (income) charges and other, net | (23.3 | ) | 0.2 | 33.7 | 17.5 | ||||||||||
| Non-GAAP operating income | $ | 484.1 | $ | 395.7 | $ | 2,066.8 | $ | 1,542.0 | |||||||
| Non-GAAP operating income as a percentage of net sales | 36.4 | % | 39.5 | % | 37.7 | % | 38.7 | % | |||||||
