Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2021
| | Three Months Ended | | Twelve Months Ended |
| | March 31, | | March 31, |
| | 2021 | | 2020 | | 2021 | | 2020 |
| Research and development expenses, as reported | $ | 228.5 | | | $ | 221.8 | | | $ | 836.4 | | | $ | 877.8 | |
| Share-based compensation expense | (26.8 | ) | | (19.9 | ) | | (96.8 | ) | | (82.9 | ) |
| Acquisition-related | (0.2 | ) | | — | | | (0.4 | ) | | (0.1 | ) |
| Non-GAAP research and development expenses | $ | 201.5 | | | $ | 201.9 | | | $ | 739.2 | | | $ | 794.8 | |
| Non-GAAP research and development expenses as a percentage of net sales | 13.7 | % | | 15.2 | % | | 13.6 | % | | 15.1 | % |
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RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
| | Three Months Ended | | Twelve Months Ended |
| | March 31, | | March 31, |
| | 2021 | | 2020 | | 2021 | | 2020 |
| Selling, general and administrative expenses, as reported | $ | 165.1 | | | $ | 165.7 | | | $ | 610.3 | | | $ | 676.6 | |
| Share-based compensation expense | (20.4 | ) | | (15.7 | ) | | (74.9 | ) | | (66.4 | ) |
| Acquisition-related | (2.2 | ) | | (10.9 | ) | | (3.6 | ) | | (35.7 | ) |
| Professional services associated with certain legal matters | (0.4 | ) | | (3.3 | ) | | (9.5 | ) | | (3.3 | ) |
| IT security remediation | (0.1 | ) | | (1.1 | ) | | (1.5 | ) | | (6.8 | ) |
| Non-GAAP selling, general and administrative expenses | $ | 142.0 | | | $ | 134.7 | | | $ | 520.8 | | | $ | 564.4 | |
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | 9.7 | % | | 10.2 | % | | 9.6 | % | | 10.7 | % |
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