Microchip Technology Announces Record Financial Results For Third Quarter of Fiscal Year 2023


RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

 Three Months Ended December 31, Nine Months Ended December 31,
  2022   2021   2022   2021 
Operating expenses, as reported$659.2  $638.3  $1,910.6  $1,929.1 
Share-based compensation expense (37.1)  (42.5)  (105.4)  (136.9)
Acquisition-related (0.3)  (1.2)  (2.0)  (3.9)
Professional services associated with certain legal matters    (1.8)  (3.2)  (5.6)
IT security remediation         (0.2 )           (0.2 )
Amortization of acquired intangible assets   (167.4 )     (215.7 )     (502.5 )     (647.0 )
Special charges (income) and other, net   (6.5 )     0.3       6.1       (20.4 )
Non-GAAP operating expenses $ 447.9     $ 377.2     $ 1,303.6     $ 1,115.1  
GAAP operating expenses as a percentage of net sales   30.4 %     36.3 %     30.8 %     38.8 %
Non-GAAP operating expenses as a percentage of net sales   20.6 %     21.5 %     21.0 %     22.4 %

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