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

RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME

 Three Months Ended Twelve Months Ended
 March 31, March 31,
 2021 2020 2021 2020
Operating income, as reported$308.0  $160.7  $998.1  $647.1 
Share-based compensation expense55.0  40.7  198.3  170.2 
COVID-19 shelter-in-place restrictions on manufacturing activities  3.3  2.8  3.3 
Manufacturing excursion5.8    5.8   
Acquisition-related2.4  10.9  4.0  35.8 
Professional services associated with certain legal matters0.4  3.3  9.5  3.3 
IT security remediation0.1  1.1  1.5  6.8 
Amortization of acquired intangible assets232.4  248.5  932.3     993.9  
Special (income) charges and other, net (7.2 )   17.2     1.7     46.7  
Non-GAAP operating income $ 596.9     $ 485.7     $ 2,154.0     $ 1,907.1  
Non-GAAP operating income as a percentage of net sales 40.7 %   36.6 %   39.6 %   36.2 %
                       

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