(in millions except per share amounts and percentages)
(unaudited)
RECONCILIATION OF GAAP GROSS PROFIT TO NON-GAAP GROSS PROFIT
Three Months Ended | Twelve Months Ended | ||||||||||||||
March 31, | March 31, | ||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||
Gross profit, as reported | $ | 926.8 | $ | 813.9 | $ | 3,378.8 | $ | 3,242.1 | |||||||
Share-based compensation expense | 7.8 | 5.1 | 26.6 | 20.9 | |||||||||||
COVID-19 shelter-in-place restrictions on manufacturing activities | — | 3.3 | 2.8 | 3.3 | |||||||||||
Manufacturing excursion | 5.8 | — | 5.8 | — | |||||||||||
Non-GAAP gross profit | $ | 940.4 | $ | 822.3 | $ | 3,414.0 | $ | 3,266.3 | |||||||
Non-GAAP gross profit percentage | 64.1 | % | 62.0 | % | 62.8 | % | 61.9 | % | |||||||
RECONCILIATION OF GAAP RESEARCH AND DEVELOPMENT EXPENSES TO NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES