Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2022

RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME

 Three Months Ended March 31, Twelve Months Ended March 31,
  2022   2021   2022   2021 
Operating income, as reported$549.5  $308.0  $1,849.6  $998.1 
Share-based compensation expense 47.0   55.0   210.2   198.3 
COVID-19 shelter-in-place restrictions on manufacturing activities          2.8 
Manufacturing excursion    5.8      5.8 
Acquisition-related  1.0       2.4       4.9       4.1  
Professional services associated with certain legal matters   2.8       0.4       8.4       9.5  
IT security remediation         0.1       0.2       1.5  
Amortization of acquired intangible assets   215.5       232.4       862.5       932.3  
Special charges (income) and other, net   9.1       (7.2 )     29.5       1.7  
Non-GAAP operating income $ 824.9     $ 596.9     $ 2,965.3     $ 2,154.1  
Non-GAAP operating income as a percentage of net sales   44.7 %     40.7 %     43.5 %     39.6 %

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