Microchip Technology Announces Record Financial Results for Fourth Quarter and Fiscal Year 2022
RECONCILIATION OF GAAP RESEARCH AND DEVELOPMENT EXPENSES TO NON-GAAP RESEARCH AND DEVELOPMENT EXPENSES
| | Three Months Ended March 31, | | Twelve Months Ended March 31, |
| | | 2022 | | | | 2021 | | | | 2022 | | | | 2021 | |
| Research and development expenses, as reported | $ | 259.1 | | | $ | 228.5 | | | $ | 989.1 | | | $ | 836.4 | |
| Share-based compensation expense | | (21.8 | ) | | | (26.8 | ) | | | (97.9 | ) | | | (96.8 | ) |
| Acquisition-related | | (0.2 | ) | | | (0.2 | ) | | | (0.8 | ) | | | (0.4 | ) |
| Non-GAAP research and development expenses | $ | 237.1 | | | $ | 201.5 | | | $ | 890.4 | | | $ | 739.2 | |
| Non-GAAP research and development expenses as a percentage of net sales | | 12.9 | % | | | 13.7 | % | | | 13.1 | % | | | 13.6 | % |
