Microchip Technology Announces Record Financial Results for First Quarter of Fiscal Year 2022
RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
| | Three Months Ended |
| | June 30, |
| | 2021 | | 2020 |
| Selling, general and administrative expenses, as reported | $ | 174.3 | | | $ | 146.3 | |
| Share-based compensation expense | (21.2 | ) | | (15.5 | ) |
| Acquisition-related | (1.3 | ) | | (1.5 | ) |
| Professional services associated with certain legal matters | (2.1 | ) | | (3.5 | ) |
| IT security remediation | — | | | (1.0 | ) |
| Non-GAAP selling, general and administrative expenses | $ | 149.7 | | | $ | 124.8 | |
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | 9.5 | % | | 9.5 | % |
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RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| | Three Months Ended |
| | June 30, |
| | 2021 | | 2020 |
| Operating expenses, as reported | $ | 638.8 | | | $ | 580.0 | |
| Share-based compensation expense | (47.8 | ) | | (36.0 | ) |
| Acquisition-related | (1.5 | ) | | (1.5 | ) |
| Professional services associated with certain legal matters | (2.1 | ) | | (3.5 | ) |
| IT security remediation | — | | | (1.0 | ) |
| Amortization of acquired intangible assets | (215.6 | ) | | (235.4 | ) |
| Special charges and other, net | (10.5 | ) | | (0.3 | ) |
| Non-GAAP operating expenses | $ | 361.3 | | | $ | 302.3 | |
| Non-GAAP operating expenses as a percentage of net sales | 23.1 | % | | 23.1 | % |
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