Microchip Technology Announces Financial Results for Third Quarter of Fiscal Year 2021
RECONCILIATION OF GAAP RESEARCH AND DEVELOPMENT EXPENSES TO NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES
| | Three Months Ended | | Nine Months Ended |
| | December 31, | | December 31, |
| | 2020 | | 2019 | | 2020 | | 2019 |
| Research and development expenses, as reported | $ | 210.1 | | | | $ | 217.1 | | | | $ | 607.9 | | | | $ | 656.0 | | |
| Share-based compensation expense | (25.0 | ) | | | (21.2 | ) | | | (70.0 | ) | | | (63.0 | ) | |
| Acquisition-related | (0.2 | ) | | | — | | | | (0.2 | ) | | | (0.1 | ) | |
| Non-GAAP research and development expenses | $ | 184.9 | | | | $ | 195.9 | | | | $ | 537.7 | | | | $ | 592.9 | | |
| Non-GAAP research and development expenses as a percentage of net sales | 13.7 | | % | | 15.2 | | % | | 13.5 | | % | | 15.0 | | % |
| | | | | | | | | | | | | | | | |
