Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2020
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended | | Six Months Ended |
| | September 30, | | September 30, |
| | 2019 | | 2018 | | 2019 | | 2018 |
| Operating income, as reported | $ | 183.6 | | | $ | 102.7 | | | $ | 355.2 | | | $ | 234.9 | |
| Share-based compensation expense | 45.3 | | | 41.4 | | | 86.0 | | | 70.8 | |
| Acquisition-related costs | 8.1 | | | 6.6 | | | 14.7 | | | 33.7 | |
| IT security remediation | 2.0 | | | — | | | 5.0 | | | — | |
| Excess capacity charges to normalize acquired inventory levels | — | | | 2.3 | | | — | | | 2.3 | |
| Acquired inventory valuation costs | — | | | 182.1 | | | — | | | 289.6 | |
| 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 income | $ | 490.8 | | | $ | 523.2 | | | $ | 969.3 | | | $ | 993.2 | |
| Non-GAAP operating income as a percentage of net sales | 36.7 | % | | 36.5 | % | | 36.4 | % | | 37.6 | % |
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