Microchip Technology Announces Record Financial Results for Second Quarter of Fiscal Year 2022

RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

 Three Months Ended September 30, Six Months Ended September 30,
 2021 2020 2021 2020
Operating expenses, as reported$652.0   $581.7   $1,290.8   $1,161.7  
Share-based compensation expense(46.6)  (43.7)  (94.4)  (79.7) 
Acquisition-related(1.1)  0.9   (2.6)  (0.6) 
Professional services associated with certain legal matters(1.7)  (1.3)  (3.8)  (4.8) 
IT security remediation   (0.3)     (1.3) 
Amortization of acquired intangible assets(215.7 )     (232.9 )     (431.3 )     (468.3 )  
Special charges and other, net (10.2 )     (4.3 )     (20.7 )     (4.6 )  
Non-GAAP operating expenses $ 376.7       $ 300.1       $ 738.0       $ 602.4    
Non-GAAP operating expenses as a percentage of net sales 22.8   %   23.0   %   22.9   %   23.0   %

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