Microchip Technology Announces Financial Results For Fourth Quarter and Fiscal Year 2024


RECONCILIATION OF GAAP OPERATING EXPENSES TO NON-GAAP OPERATING EXPENSES

 Three Months Ended March 31, Twelve Months Ended March 31,
  2024   2023   2024   2023 
Operating expenses, as reported$536.4  $671.3  $2,424.7  $2,581.9 
Share-based compensation expense (37.4)  (37.8)  (151.9)  (143.2)
Other adjustments (0.8)  (0.8)  (1.8)  (2.8)
Professional services associated with certain legal matters (0.3)  (1.5)  (1.5)  (4.7)
Amortization of acquired intangible assets (1)   (151.2 )     (167.4 )     (605.4 )     (669.9 )
Special (income) charges and other, net   16.9       (2.1 )     12.3       4.0  
Non-GAAP operating expenses $ 363.6     $ 461.7     $ 1,676.4     $ 1,765.3  
GAAP operating expenses as a percentage of net sales   40.5 %     30.1 %     31.8 %     30.6 %
Non-GAAP operating expenses as a percentage of net sales   27.4 %     20.7 %     22.0 %     20.9 %

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