Microchip Technology Announces Financial Results for Third Quarter of Fiscal Year 2021

RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME

 Three Months Ended Nine Months Ended
 December 31, December 31,
 2020 2019 2020 2019
Operating income, as reported$245.6  $131.2  $690.1  $486.4 
Share-based compensation expense51.2  43.5  143.3  129.5 
COVID-19 shelter-in-place restrictions on manufacturing activities    2.8   
Acquisition-related1.0  10.2  1.6  24.9 
Professional services associated with certain legal matters4.3    9.1   
IT security remediation0.1  0.7  1.4  5.7 
Amortization of acquired intangible assets231.6  248.7  699.9  745.4 
Special charges and other, net4.3  17.8  8.9   29.5  
Non-GAAP operating income $ 538.1     $ 452.1     $ 1,557.1     $ 1,421.4  
Non-GAAP operating income as a percentage of net sales 39.8 %   35.1 %   39.2 %   36.0 %
                       

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