Microchip Technology Announces Financial Results for Second Quarter of Fiscal Year 2021
RECONCILIATION OF GAAP OPERATING INCOME TO NON-GAAP OPERATING INCOME
| | Three Months Ended | | Six Months Ended |
| | September 30, | | September 30, |
| | 2020 | | 2019 | | 2020 | | 2019 |
| Operating income, as reported | $ | 226.2 | | | $ | 183.6 | | | $ | 444.5 | | | $ | 355.2 | |
| Share-based compensation expense | 49.7 | | | 45.3 | | | 92.1 | | | 86.0 | |
COVID-19 shelter-in-place restrictions on manufacturing activities
| — | | | — | | | 2.8 | | | — | |
| Acquisition-related | (0.9 | ) | | 8.1 | | | 0.6 | | | 14.7 | |
| Professional services associated with certain legal matters | 1.3 | | | — | | | 4.8 | | | — | |
| IT security remediation | 0.3 | | | 2.0 | | | 1.3 | | | 5.0 | |
| Amortization of acquired intangible assets | 232.9 | | | 248.2 | | | 468.3 | | | 496.7 | |
| Special charges and other, net | 4.3 | | | 3.6 | | | 4.6 | | | 11.7 | |
| Non-GAAP operating income | $ | 513.8 | | | $ | 490.8 | | | $ | 1,019.0 | | | $ | 969.3 | |
| Non-GAAP operating income as a percentage of net sales | 39.2 | % | | 36.7 | % | | 38.9 | % | | 36.4 | % |
