Microchip Technology Announces Financial Results for Third Quarter of Fiscal Year 2021
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended | | Nine Months Ended |
| | December 31, | | December 31, |
| | 2020 | | 2019 | | 2020 | | 2019 |
| Operating income, as reported | $ | 245.6 | | | $ | 131.2 | | | $ | 690.1 | | | $ | 486.4 | |
| Share-based compensation expense | 51.2 | | | 43.5 | | | 143.3 | | | 129.5 | |
| COVID-19 shelter-in-place restrictions on manufacturing activities | — | | | — | | | 2.8 | | | — | |
| Acquisition-related | 1.0 | | | 10.2 | | | 1.6 | | | 24.9 | |
| Professional services associated with certain legal matters | 4.3 | | | — | | | 9.1 | | | — | |
| IT security remediation | 0.1 | | | 0.7 | | | 1.4 | | | 5.7 | |
| Amortization of acquired intangible assets | 231.6 | | | 248.7 | | | 699.9 | | | 745.4 | |
| Special charges and other, net | 4.3 | | | 17.8 | | | 8.9 | | | 29.5 | |
| Non-GAAP operating income | $ | 538.1 | | | $ | 452.1 | | | $ | 1,557.1 | | | $ | 1,421.4 | |
| Non-GAAP operating income as a percentage of net sales | 39.8 | % | | 35.1 | % | | 39.2 | % | | 36.0 | % |
| | | | | | | | | | | | |
