Microchip Technology Announces Record Financial Results for First Quarter of Fiscal Year 2022
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended |
| | June 30, |
| | 2021 | | 2020 |
| Operating income, as reported | $ | 368.8 | | | $ | 218.3 | |
| Share-based compensation expense | 56.6 | | | 42.4 | |
| COVID-19 shelter-in-place restrictions on manufacturing activities | — | | | 2.8 | |
| 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 income | $ | 655.1 | | | $ | 505.2 | |
| Non-GAAP operating income as a percentage of net sales | 41.7 | % | | 38.6 | % |
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RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET
| | Three Months Ended |
| | June 30, |
| | 2021 | | 2020 |
| Other expense, net, as reported | $ | (71.8 | ) | | $ | (128.8 | ) |
| Loss on settlement of debt | 0.3 | | | 26.8 | |
| Non-cash other expense, net | 10.9 | | | 24.6 | |
| Gains on equity investments | — | | | (0.2 | ) |
| Non-GAAP other expense, net | $ | (60.6 | ) | | $ | (77.6 | ) |
| Non-GAAP other expense, net, as a percentage of net sales | (3.9 | )% | | (5.9 | )% |
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