Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2023

RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME

 Three Months Ended March 31, Twelve Months Ended March 31,
  2023   2022   2023   2022 
Operating income, as reported$848.0  $549.5  $3,116.0  $1,849.6 
Share-based compensation expense 43.9   47.0   170.4   210.2 
Acquisition-related 0.8   1.0   2.8   4.9 
Professional services associated with certain legal matters 1.5   2.8   4.7   8.4 
IT security remediation                     0.2  
Amortization of acquired intangible assets   167.4       215.5       669.9       862.5  
Special charges (income) and other, net   2.1       9.1       (4.0 )     29.5  
Non-GAAP operating income $ 1,063.7     $ 824.9     $ 3,959.8     $ 2,965.3  
GAAP operating income as a percentage of net sales   38.0 %     29.8 %     36.9 %     27.1 %
Non-GAAP operating income as a percentage of net sales   47.6 %     44.7 %     46.9 %     43.5 %
                               

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