RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| March 31, | March 31, | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| Other expense, net, as reported | $ | (133.3 | ) | $ | (55.8 | ) | $ | (509.6 | ) | $ | (198.8 | ) | |||
| Loss on settlement of debt | 8.3 | — | 12.6 | 16.0 | |||||||||||
| Non-cash other expense, net | 29.7 | 28.1 | 124.3 | 110.0 | |||||||||||
| Acquisition-related other income | (12.5 | ) | — | (12.5 | ) | — | |||||||||
| Losses on available-for-sale investments | (0.7 | ) | — | 6.0 | — | ||||||||||
| Impairment on available-for-sale investments | — | 15.5 | — | 15.5 | |||||||||||
| Non-GAAP other expense, net | $ | (108.5 | ) | $ | (12.2 | ) | $ | (379.2 | ) | $ | (57.3 | ) | |||
| Non-GAAP other expense, net, as a percentage of net sales | (8.2 | )% | (1.2 | )% | (6.9 | )% | (1.4 | )% | |||||||
RECONCILIATION OF GAAP INCOME TAX BENEFIT TO NON-GAAP INCOME TAX PROVISION
For the three and twelve months ended March 31, 2019, non-GAAP income tax expense is presented based on cash taxes for fiscal 2019, excluding transition tax payments under the Tax Cuts and Jobs Act.
| Three and Twelve Months Ended | |||||||
| March 31, 2019 | |||||||
| Income tax benefit, as reported | $ | (23.5 | ) | $ | (151.4 | ) | |
| Income tax rate, as reported | (15.5 | )% | (74.0 | )% | |||
| Other non-GAAP tax adjustment 1 | 28.6 | 202.5 | |||||
| Non-GAAP income tax provision | $ | 5.1 | $ | 51.1 | |||
| Non-GAAP income tax rate | 1.4 | % | 3.0 | % | |||
For the three and twelve months ended March 31, 2018, non-GAAP income tax expense is presented as the tax impact of non-GAAP adjustments calculated using the applicable tax rates in the jurisdictions where the adjustments occurred.
| Three and Twelve Months Ended | |||||||
| March 31, 2018 | |||||||
| Income tax provision, as reported | $ | 41.5 | $ | 481.9 | |||
| Income tax rate, as reported | 22.1 | % | 65.4 | % | |||
| Share-based compensation expense 2 | 6.4 | 28.3 | |||||
| Manufacturing excursion 2 | — | (0.2 | ) | ||||
| Acquisition-related costs 2 | 1.7 | 3.3 | |||||
| Amortization of acquired intangible assets 2 | 8.3 | 36.0 | |||||
| Special charges and other, net 2 | (0.1 | ) | 5.9 | ||||
| Loss on settlement of debt 2 | — | 5.3 | |||||
| Non-cash other expense, net 2 | 8.1 | 35.8 | |||||
| Impairment on available-for-sale investment | 0.1 | 0.1 | |||||
| Non-recurring tax events 2 | (38.9 | ) | (467.5 | ) | |||
| Tax adjustment in accordance with ASC 740-270 2 | 5.0 | — | |||||
| Non-GAAP income tax provision | $ | 32.1 | $ | 128.9 | |||
| Non-GAAP income tax rate | 8.4 | % | 8.7 | % | |||
