Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2021

RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

 Three Months Ended Twelve Months Ended
 March 31, March 31,
 2021 2020 2021 2020
Operating expenses, as reported$618.8  $653.2  $2,380.7  $2,595.0 
Share-based compensation expense(47.2) (35.6) (171.7) (149.3)
Acquisition-related(2.4) (10.9) (4.0) (35.8)
Professional services associated with certain legal matters(0.4) (3.3) (9.5) (3.3)
IT security remediation(0.1) (1.1) (1.5) (6.8)
Amortization of acquired intangible assets(232.4) (248.5) (932.3) (993.9)
Special (income) charges and other, net7.2  (17.2) (1.7 )   (46.7 )
Non-GAAP operating expenses $ 343.5     $ 336.6     $ 1,260.0     $ 1,359.2  
Non-GAAP operating expenses as a percentage of net sales 23.4 %   25.4 %   23.2 %   25.7 %
                       

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