Microchip Technology Announces Outstanding Financial Results for Third Quarter Fiscal Year 2017


RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET
 
 Three Months ended Nine Months Ended
 December 31, December 31,
 2016 2015 2016 2015
Other expense, net, as reported$(34,521) $(25,918) $(103,578) $(48,430)
Gain on equity securities and equity method investment  (83) (468) (16,147)
Non-cash other expense, net12,955  12,813  38,244  37,085 
Impairment on available-for-sale investment1,433  3,995  1,433  3,995 
Other expenses on acquisition restructuring  501    501 
Non-GAAP other expense, net$(20,133) $(8,692) $(64,369) $(22,996)
Non-GAAP other expense, net, as a percentage of net sales(2.3)% (1.6)% (2.5)% (1.4)%


RECONCILIATION OF GAAP INCOME TAX BENEFIT TO NON-GAAP INCOME TAX PROVISION
 
 Three Months ended Nine Months Ended
 December 31, December 31,
 2016 2015 2016 2015
Income tax benefit, as reported$(23,837) $(11,053) $(15,699) $(32,890)
Income tax rate, as reported(28.5)% (22.0)% (87.3)% (14.7)%
Distributor revenue recognition adjustment(20) 2,556  4,164  6,810 
Share-based compensation expense7,376  5,460  36,622  17,566 
Manufacturing excursion    295   
Acquisition-related restructuring, acquired inventory valuation costs, intangible asset amortization and other costs8,688  12,797  28,630  32,781 
Special charges (income) and other, net8,557  (201) 18,069  1,414 
Gain on equity securities and equity method investment     (31 )   (172 )   (31 )
Impairment on available-for-sale investment 526     1,472     526     1,472  
Non-cash other expense, net 4,698     4,722     14,017     13,734  
Non-recurring tax events 7,524     (301 )   10,335     12,406  
Tax adjustment in accordance with ASC 740-270
8,841         (34,901 )    
Non-GAAP income tax provision $ 22,353     $ 15,421     $ 61,886     $ 53,262  
Non-GAAP income tax rate 8.3 %   10.0 %   8.6 %   11.0 %

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