| Three Months Ended | Nine Months Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2018 | 2017 | 2018 | 2017 | ||||||||||||
| Selling, general and administrative expenses, as reported | $ | 174.8 | $ | 109.1 | $ | 515.5 | $ | 337.6 | |||||||
| Share-based compensation expense | (16.6) | (9.6) | (46.1) | (27.6) | |||||||||||
| Acquisition-related costs | (5.1) | (1.2) | (37.6) | (4.8) | |||||||||||
| Non-GAAP selling, general and administrative expenses | $ | 153.1 | $ | 98.3 | $ | 431.8 | $ | 305.2 | |||||||
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | 10.8% | 9.9% | 10.4% | 10.2% | |||||||||||
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| Three Months Ended | Nine Months Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2018 | 2017 | 2018 | 2017 | ||||||||||||
| Operating expenses, as reported | $ | 584.9 | $ | 361.9 | $ | 1,681.3 | $ | 1,113.4 | |||||||
| Share-based compensation expense | (36.0) | (20.5) | (99.3) | (59.4) | |||||||||||
| Acquisition-related costs | (5.4) | (1.3) | (39.1) | (4.8) | |||||||||||
| Amortization of acquired intangible assets | (193.7) | (121.0) | (497.2) | (362.8) | |||||||||||
| Special (income) charges and other, net | 1.3 | (0.2) | (57.0) | (17.3) | |||||||||||
| Non-GAAP operating expenses | $ | 351.1 | $ | 218.9 | $ | 988.7 | $ | 669.1 | |||||||
| Non-GAAP operating expenses as a percentage of net sales | 24.8% | 22.0% | 23.8% | 22.5% | |||||||||||
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| Three Months Ended | Nine Months Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2018 | 2017 | 2018 | 2017 | ||||||||||||
| Operating income, as reported | $ | 194.7 | $ | 245.2 | $ | 429.6 | $ | 692.2 | |||||||
| Impact of changes in distributor inventory levels | 23.8 | — | 83.3 | — | |||||||||||
| Share-based compensation expense | 39.4 | 24.0 | 110.2 | 70.0 | |||||||||||
| Manufacturing excursion | — | — | — | (0.6) | |||||||||||
| Acquisition-related costs | 5.4 | 1.3 | 39.3 | 4.8 | |||||||||||
| Excess capacity charges to normalize acquired inventory levels | — | — | 2.3 | — | |||||||||||
| Acquired inventory valuation costs | 74.3 | — | 363.9 | — | |||||||||||
| Amortization of acquired intangible assets | 193.7 | 121.0 | 497.2 | 362.8 | |||||||||||
| Special (income) charges and other, net | (1.3) | 0.2 | 57.0 | 17.3 | |||||||||||
| Non-GAAP operating income | $ | 530.0 | $ | 391.7 | $ | 1,582.8 | $ | 1,146.5 | |||||||
| Non-GAAP operating income as a percentage of net sales | 37.4% | 39.4% | 38.2% | 38.5% | |||||||||||
