Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2020
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| | Three Months Ended | | Six Months Ended |
| | September 30, | | September 30, |
| | 2019 | | 2018 | | 2019 | | 2018 |
| Operating expenses, as reported | $ | 643.9 | | | $ | 586.6 | | | $ | 1,287.5 | | | $ | 1,096.4 | |
| Share-based compensation expense | (40.1 | ) | | (37.5 | ) | | (75.9 | ) | | (63.3 | ) |
| Acquisition-related costs | (8.1 | ) | | (6.6 | ) | | (14.7 | ) | | (33.5 | ) |
| IT security remediation | (2.0 | ) | | — | | | (5.0 | ) | | — | |
| Amortization of acquired intangible assets | (248.2 | ) | | (169.9 | ) | | (496.7 | ) | | (303.6 | ) |
| Special charges and other, net | (3.6 | ) | | (18.2 | ) | | (11.7 | ) | | (58.3 | ) |
| Non-GAAP operating expenses | $ | 341.9 | | | $ | 354.4 | | | $ | 683.5 | | | $ | 637.7 | |
| Non-GAAP operating expenses as a percentage of net sales | 25.6 | % | | 24.7 | % | | 25.7 | % | | 24.1 | % |
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