RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET
| Three Months Ended | Nine Months Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2018 | 2017 | 2018 | 2017 | ||||||||||||
| Other expense, net, as reported | $ | (139.6) | $ | (48.4) | $ | (376.1) | $ | (142.9) | |||||||
| Loss on settlement of debt | 0.2 | 2.1 | 4.3 | 16.0 | |||||||||||
| Non-cash other expense, net | 29.2 | 27.8 | 94.6 | 81.8 | |||||||||||
| Losses on available-for-sale investments | 0.6 | — | 6.7 | — | |||||||||||
| Non-GAAP other expense, net | $ | (109.6) | $ | (18.5) | $ | (270.5) | $ | (45.1) | |||||||
| Non-GAAP other expense, net, as a percentage of net sales | (7.7)% | (1.9)% | (6.5)% | (1.5)% | |||||||||||
RECONCILIATION OF GAAP INCOME TAX PROVISION (BENEFIT) TO NON-GAAP INCOME TAX PROVISION
For the three and nine months ended December 31, 2018, non-GAAP income tax expense is presented based on cash taxes for fiscal 2019, excluding transition tax payments under the Tax Cuts and Jobs Act.
| Three and Nine Months Ended | |||||||
| December 31, 2018 | |||||||
| Income tax provision (benefit), as reported | $ | 5.8 | $ | (127.9) | |||
| Income tax rate, as reported | 10.5% | (240.0)% | |||||
| Other non-GAAP tax adjustment 1 | 8.9 | 173.9 | |||||
| Non-GAAP income tax provision | $ | 14.7 | $ | 46.0 | |||
| Non-GAAP income tax rate | 3.5% | 3.5% | |||||
For the three and nine months ended December 31, 2017, non-GAAP income tax expense is presented as the tax impact of non-GAAP adjustments calculated using the applicable tax rates in the jurisdictions where the adjustments occurred.
| Three and Nine Months Ended | |||||||
| December 31, 2017 | |||||||
| Income tax provision, as reported | $ | 447.8 | $ | 440.4 | |||
| Income tax rate, as reported | 227.7% | 80.2% | |||||
| Share-based compensation expense 2 | 6.6 | 21.8 | |||||
| Manufacturing excursion 2 | — | (0.2) | |||||
| Acquisition-related costs 2 | 0.2 | 1.6 | |||||
| Amortization of acquired intangible assets 2 | 8.1 | 27.8 | |||||
| Special charges and other, net 2 | — | 6.0 | |||||
| Loss on settlement of debt 2 | 0.1 | 5.2 | |||||
| Non-cash other expense, net 2 | 8.0 | 27.8 | |||||
| Non-recurring tax events 2 | (439.8) | (428.6) | |||||
| Tax adjustment in accordance with ASC 740-270 2 | 0.9 | (4.9) | |||||
| Non-GAAP income tax provision | $ | 31.9 | $ | 96.9 | |||
| Non-GAAP income tax rate | 8.5% | 8.8% | |||||
