Microchip Technology Announces Financial Results for Third Quarter of Fiscal Year 2024

 
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
 Three Months Ended December 31, Nine Months Ended December 31,
  2023  2022  2023  2022
Operating income, as reported$        529.4  $        811.6  $        2,317.5  $        2,268.0 
Share-based compensation expense         44.8           44.0           134.7           126.5 
Other adjustments         1.1           0.3           1.0           2.0 
Professional services associated with certain legal matters         0.4           —           1.2           3.2 
Amortization of acquired intangible assets         151.3           167.4           454.2             502.5  
Special charges (income) and other, net           1.1               6.5               4.6               (6.1 )
Non-GAAP operating income $         728.1     $         1,029.8     $         2,913.2     $         2,896.1  
GAAP operating income as a percentage of net sales           30.0 %             37.4 %             36.7 %             36.5 %
Non-GAAP operating income as a percentage of net sales           41.2 %             47.5 %             46.2 %             46.7 %



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