Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2025

(1) Amortization of acquired intangible assets consists of core and developed technology and customer-related acquired intangible assets in connection with business combinations. Such charges are excluded for purposes of calculating certain non-GAAP measures.

RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
 Three Months Ended September 30, Six Months Ended September 30,
 2024
 2023
 2024
 2023
Operating income, as reported$146.6  $885.0  $365.7  $1,788.1 
Share-based compensation expense 46.3   45.4   90.3   89.9 
Cybersecurity incident expenses 21.4      21.4    
Other adjustments 2.1   0.8   3.4   (0.1)
Professional services associated with certain legal matters 0.2   0.3   0.7   0.8 
Amortization of acquired intangible assets(1) 122.7     151.4       245.7       302.9  
Special charges and other, net   1.5       1.8       4.1       3.5  
Non-GAAP operating income $ 340.8     $ 1,084.7     $ 731.3     $ 2,185.1  
GAAP operating income as a percentage of net sales   12.6 %     39.3 %     15.2 %     39.4 %
Non-GAAP operating income as a percentage of net sales   29.3 %     48.1 %     30.4 %     48.1 %
                               

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