Microchip Technology Announces Record Financial Results for First Quarter of Fiscal Year 2023
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended June 30, |
| | | 2022 | | | | 2021 | |
| Operating income, as reported | $ | 701.3 | | | $ | 368.8 | |
| Share-based compensation expense | | 41.2 | | | | 56.6 | |
| 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 income | $ | 894.9 | | | $ | 655.1 | |
| Non-GAAP operating income as a percentage of net sales | | 45.6 | % | | | 41.7 | % |
RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET
| | Three Months Ended June 30, |
| | | 2022 | | | | 2021 | |
| Other expense, net, as reported | $ | (54.7 | ) | | $ | (71.8 | ) |
| Loss on settlement of debt | | 6.2 | | | | 0.3 | |
| Non-cash other expense, net | | 0.1 | | | | 10.9 | |
| Non-GAAP other expense, net | $ | (48.4 | ) | | $ | (60.6 | ) |
| Non-GAAP other expense, net, as a percentage of net sales | (2.5) % | | (3.9) % |
