Microchip Technology Announces Financial Results For Second Quarter of Fiscal Year 2024
RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES
| | Three Months Ended September 30, | | Six Months Ended September 30, |
| | | 2023 | | | | 2022 | | | | 2023 | | | | 2022 | |
| Operating expenses, as reported | $ | 642.4 | | | $ | 642.8 | | | $ | 1,297.7 | | | $ | 1,251.4 | |
| Share-based compensation expense | | (38.0 | ) | | | (34.8 | ) | | | (75.7 | ) | | | (68.3 | ) |
| Other adjustments | | (0.8 | ) | | | (0.9 | ) | | | 0.1 | | | | (1.7 | ) |
| Professional services associated with certain legal matters | | (0.3 | ) | | | (2.3 | ) | | | (0.8 | ) | | | (3.2 | ) |
| Amortization of acquired intangible assets | | (151.4 | ) | | | (167.5 | ) | | | (302.9 | ) | | | (335.1 | ) |
| Special charges (income) and other, net | | (1.8 | ) | | | (4.3 | ) | | | (3.5 | ) | | | 12.6 | |
| Non-GAAP operating expenses | $ | 450.1 | | | $ | 433.0 | | | $ | 914.9 | | | $ | 855.7 | |
| GAAP operating expenses as a percentage of net sales | | 28.5 | % | | | 31.0 | % | | | 28.6 | % | | | 31.0 | % |
| Non-GAAP operating expenses as a percentage of net sales | | 20.0 | % | | | 20.9 | % | | | 20.1 | % | | | 21.2 | % |
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