Microchip Technology Announces Financial Results for First Quarter of Fiscal Year 2025
| | Three Months Ended June 30, |
| | 2024 | | 2023 |
| Other expense, net, as reported | $ | (57.3 | ) | | $ | (54.8 | ) |
| Loss on settlement of debt | | — | | | | 9.1 | |
| Non-GAAP other expense, net | $ | (57.3 | ) | | $ | (45.7 | ) |
| GAAP other expense, net, as a percentage of net sales | | (4.6 | )% | | | (2.4 | )% |
| Non-GAAP other expense, net, as a percentage of net sales | | (4.6 | )% | | | (2.0 | )% |
RECONCILIATION OF GAAP INCOME TAX PROVISION TO NON-GAAP INCOME TAX PROVISION
| | Three Months Ended June 30, |
| | 2024 | | 2023 |
| Income tax provision as reported | $ | 32.5 | | | $ | 181.9 | |
| Income tax rate, as reported | | 20.1 | % | | | 21.4 | % |
| Other non-GAAP tax adjustment | | 10.8 | | | | (32.5 | ) |
| Non-GAAP income tax provision | $ | 43.3 | | | $ | 149.4 | |
| Non-GAAP income tax rate | | 13.0 | % | | | 14.2 | % |
