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

RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME

 Three Months Ended
 June 30,
 2021 2020
Operating income, as reported$368.8   $218.3  
Share-based compensation expense56.6   42.4  
COVID-19 shelter-in-place restrictions on manufacturing activities—   2.8  
Acquisition-related1.5   1.5  
Professional services associated with certain legal matters2.1   3.5  
IT security remediation—   1.0  
Amortization of acquired intangible assets215.6   235.4  
Special charges and other, net10.5   0.3  
Non-GAAP operating income$655.1   $505.2  
Non-GAAP operating income as a percentage of net sales41.7 % 38.6 %
      

RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET

 Three Months Ended
 June 30,
 2021 2020
Other expense, net, as reported$(71.8) $(128.8)
Loss on settlement of debt0.3  26.8 
Non-cash other expense, net 10.9     24.6  
Gains on equity investments     (0.2 )
Non-GAAP other expense, net $ (60.6 )   $ (77.6 )
Non-GAAP other expense, net, as a percentage of net sales (3.9 )%   (5.9 )%
           

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