Microchip Technology Announces Record Financial Results for First Quarter of Fiscal Year 2023
RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
| | Three Months Ended June 30, |
| | | 2022 | | | | 2021 | |
| Selling, general and administrative expenses, as reported | $ | 188.9 | | | $ | 174.3 | |
| Share-based compensation expense | | (13.4 | ) | | | (21.2 | ) |
| Acquisition-related | | (0.6 | ) | | | (1.3 | ) |
| Professional services associated with certain legal matters | | (0.9 | ) | | | (2.1 | ) |
| Non-GAAP selling, general and administrative expenses | $ | 174.0 | | | $ | 149.7 | |
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | | 8.9 | % | | | 9.5 | % |
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| | Three Months Ended June 30, |
| | | 2022 | | | | 2021 | |
| Operating expenses, as reported | $ | 608.6 | | | $ | 638.8 | |
| Share-based compensation expense | | (33.5 | ) | | | (47.8 | ) |
| Acquisition-related | | (0.8 | ) | | | (1.5 | ) |
| Professional services associated with certain legal matters | | (0.9 | ) | | | (2.1 | ) |
| Amortization of acquired intangible assets | | (167.6 | ) | | | (215.6 | ) |
| Special income (charges) and other, net | | 16.9 | | | | (10.5 | ) |
| Non-GAAP operating expenses | $ | 422.7 | | | $ | 361.3 | |
| Non-GAAP operating expenses as a percentage of net sales | | 21.5 | % | | | 23.1 | % |
