Microchip Technology Announces Record Financial Results for First Quarter of Fiscal Year 2022

RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

 Three Months Ended
 June 30,
 2021 2020
Selling, general and administrative expenses, as reported$174.3  $146.3 
Share-based compensation expense(21.2) (15.5)
Acquisition-related(1.3) (1.5)
Professional services associated with certain legal matters(2.1) (3.5)
IT security remediation  (1.0)
Non-GAAP selling, general and administrative expenses$149.7  $124.8 
Non-GAAP selling, general and administrative expenses as a percentage of net sales9.5% 9.5%
      

RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

 Three Months Ended
 June 30,
 2021 2020
Operating expenses, as reported$638.8  $580.0 
Share-based compensation expense(47.8) (36.0)
Acquisition-related(1.5) (1.5)
Professional services associated with certain legal matters(2.1 )   (3.5 )
IT security remediation     (1.0 )
Amortization of acquired intangible assets (215.6 )   (235.4 )
Special charges and other, net (10.5 )   (0.3 )
Non-GAAP operating expenses $ 361.3     $ 302.3  
Non-GAAP operating expenses as a percentage of net sales 23.1 %   23.1 %
           

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