Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2020
RECONCILIATION OF GAAP OTHER EXPENSE, NET TO NON-GAAP OTHER EXPENSE, NET
| | Three Months Ended | | Six Months Ended |
| | September 30, | | September 30, |
| | 2019 | | 2018 | | 2019 | | 2018 |
| Other expense, net, as reported | $ | (130.1 | ) | | $ | (142.0 | ) | | $ | (261.2 | ) | | $ | (236.5 | ) |
| Loss on settlement of debt | 0.1 | | | 4.1 | | | 2.0 | | | 4.1 | |
| Non-cash other expense, net | 30.6 | | | 28.9 | | | 60.5 | | | 65.4 | |
| (Gains) losses on available-for-sale investments | (0.3 | ) | | 0.9 | | | (1.1 | ) | | 6.1 | |
| Non-GAAP other expense, net | $ | (99.7 | ) | | $ | (108.1 | ) | | $ | (199.8 | ) | | $ | (160.9 | ) |
| Non-GAAP other expense, net, as a percentage of net sales | (7.5 | )% | | (7.5 | )% | | (7.5 | )% | | (6.1 | )% |
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RECONCILIATION OF GAAP INCOME TAX BENEFIT TO NON-GAAP INCOME TAX PROVISION
| | Three Months Ended | | Six Months Ended |
| | September 30, | | September 30, |
| | 2019 | | 2018 | | 2019 | | 2018 |
| Income tax benefit, as reported | $ | (55.4 | ) | | $ | (135.7 | ) | | $ | (65.6 | ) | | $ | (133.7 | ) |
| Income tax rate, as reported | (103.6 | )% | | 344.4 | % | | (69.8 | )% | | 7,864.7 | % |
| Other non-GAAP tax adjustment | 80.8 | | | 152.2 | | | 111.8 | | | 165.0 | |
| Non-GAAP income tax provision | $ | 25.4 | | | $ | 16.5 | | | $ | 46.2 | | | $ | 31.3 | |
| Non-GAAP income tax rate | 6.5 | % | | 4.0 | % | | 6.0 | % | | 3.8 | % |
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