Microchip Technology Announces Record Financial Results For First Quarter of Fiscal Year 2024
RECONCILIATION OF GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES TO NON-GAAP SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
| | Three Months Ended June 30, |
| | | 2023 | | | | 2022 | |
| Selling, general and administrative expenses, as reported | $ | 203.6 | | | $ | 188.9 | |
| Share-based compensation expense | | (14.8 | ) | | | (13.4 | ) |
| Other adjustments | | 1.1 | | | | (0.6 | ) |
| Professional services associated with certain legal matters | | (0.5 | ) | | | (0.9 | ) |
| Non-GAAP selling, general and administrative expenses | $ | 189.4 | | | $ | 174.0 | |
| GAAP selling, general and administrative expenses as a percentage of net sales | | 8.9 | % | | | 9.6 | % |
| Non-GAAP selling, general and administrative expenses as a percentage of net sales | | 8.3 | % | | | 8.9 | % |
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RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| | Three Months Ended June 30, |
| | | 2023 | | | | 2022 | |
| Operating expenses, as reported | $ | 655.3 | | | $ | 608.6 | |
| Share-based compensation expense | | (37.7 | ) | | | (33.5 | ) |
| Other adjustments | | 0.9 | | | | (0.8 | ) |
| Professional services associated with certain legal matters | | (0.5 | ) | | | (0.9 | ) |
| Amortization of acquired intangible assets | | (151.5 | ) | | | (167.6 | ) |
| Special charges (income) and other, net | | (1.7 | ) | | | 16.9 | |
| Non-GAAP operating expenses | $ | 464.8 | | | $ | 422.7 | |
| GAAP operating expenses as a percentage of net sales | | 28.6 | % | | | 31.0 | % |
| Non-GAAP operating expenses as a percentage of net sales | | 20.3 | % | | | 21.5 | % |
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